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Rystad Energy: Fleet of Offshore Installation Vessels Will Be Outpaced by Demand

Abstract

Offshore wind is booming, and as turbine and project sizes grow, demand for specialized installation vessels will soar. The market for vessels capable of installing large offshore wind components is quickly being outpaced by growing demand from the global development pipeline, according to recent analysis from Rystad Energy. The global fleet will be insufficient to meet demand after 2025, opening room for more specialized vessel orders and other oil and gas heavy lift vessel conversions.