Major offshore wind markets in the UK, Europe, and APAC, excluding mainland China, are tightening their policy frameworks to support project execution, creating a more stable backdrop than the US, where regulatory uncertainty continues to weigh on market momentum.

According to London-based energy market research firm Westwood, marketed utilisation for wind turbine installation vessels (WTIVs) engaged in transport and installation activities moderated to 64% by the end of 2025, down from 70% in 2024, before rebounding to around 79% in 2026.

This acceleration is primarily driven by a step-up in turbine and foundation installation activity. Installation volumes in 2026 are expected to nearly double year on year, while cumulative installed offshore wind capacity is forecast to exceed 236GW by 2030.

Although the near-term project pipeline has softened marginally, the medium to long-term outlook remains structurally robust, underpinned by continued capacity expansion and policy support.

In 2025, a greater share of heavy-lift vessel activity was driven by offshore wind projects than in 2024. Looking ahead, Westwood believes demand will be supported by a resurgence in oil and gas workscopes, with utilisation projected to reach approximately 78%.

Fleet fundamentals reinforce this utilisation outlook. At the end of 2025, the global operational fleet, excluding mainland China, comprised 38 WTIVs, 51 heavy-lift vessels, and 87 CSOVs

The WTIV and heavy-lift orderbook remain limited, with only five WTIVs and seven heavy-lifts on order, respectively, whereas the CSOV segment is experiencing a pronounced build cycle, with 58 firm orders.

Westwood said that over the medium term, the WTIV segment is expected to remain structurally undersupplied based on the currently visible fleet, with the heavy-lift market also showing signs of tightening.

“While some incremental capacity may be unlocked through retrofitting mainland China units or redeploying vessels from the oil and gas sector, such measures are expected to provide only limited relief and remain contingent on vessel suitability and regulatory compliance,” the company said.