Offshore wind turbine installation is done offshore to harvest wind energy and thereby generate electricity. This is done usually on continental shelf. A wind turbine installation vessel is a vessel specially designed for the installation of offshore wind turbines. Other than transportation, installation, and accommodation of offshore wind turbines, these vessels are also suitable to install other offshore facilities such as tidal current turbines, wave energy generators, met masts, and oil & gas infrastructure.
MARKET SCOPE
The "Global Offshore wind turbine installation vessel market Analysis to 2028" is a specialized and in-depth study of the Offshore wind turbine installation vessel market with a special focus on the global market trend analysis. The report aims to provide an overview of offshore wind turbine installation vessel market with detailed market segmentation by type, application, and geography. The global offshore wind turbine installation vessel market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading offshore wind turbine installation vessel market players and offers key trends and opportunities in the offshore wind turbine installation vessel market.
MARKET SEGMENTATION
-The global offshore wind turbine installation vessel market is segmented on the basis of fuel type, application, and end-user.
-On the basis of type, the market is divided into self-propelled jack-up vessel.
-On the basis of application, the market is segmented on the basis of onshore wind, and offshore wind.
Drivers
-Increase in preference for alternative and renewable sources of energy due to rise in concerns of pollution and global warming has fueled the growth of the global offshore wind turbine installation vessel market.
-Construction of offshore wind farms is significantly affected by hostile weather conditions and downtime due to extreme weather conditions is high, which retrain the market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The offshore wind turbine installation vessel market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the offshore wind turbine installation vessel market in these regions.
IMPACT OF COVID-19 ON OFFSHORE WIND TURBINE INSTALLATION VESSEL MARKET
COVID-19 had an immediate impact on the worldwide offshore wind turbine installation vessel sector due to social distancing norms and a labour shortage. As a result, new projects were cancelled and installations were postponed.
Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway. In many countries, the economy has dropped due to halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown. The demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper growth of the industry during the COVID-19 pandemic. Due to a scarcity of resources in various parts of the world, the COVID-19 pandemic has impacted negatively on the commercial and industrial sector. The industry's top players are concerned about market's prospects and are rethinking their strategies to meet the challenge.
MARKET PLAYERS
The report covers key developments in the offshore wind turbine installation vessel market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from multi fuel generatormarket market are anticipated to lucrative growth opportunities in the future with the rising demand for offshore wind turbine installation vessel market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Offshore wind turbine installation vessel market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
-A2SEA
-MPI-Offshore
-Seajacks
-Fred. Olsen Windcarrier
-Geosea
-Van Oord
-Jack-Up Barge
-SEAFOX
-Swire Blue Ocean
-Gaoh Offshore.