A surge in wind energy development worldwide is expected to drive demand for multipurpose vessels (MPVs) and specialist installation ships through 2030, reported London's S&P Global.

Analysts warn, however, of a looming shortage of vessels capable of handling larger offshore components.

The Global Wind Energy Council forecasts 320 gigawatts of new capacity between 2026 and 2030, including 200 GW onshore and 123 GW offshore. Annual growth is projected at 5.2 percent. Europe will lead onshore expansion with 117 GW, followed by Africa and the Middle East with 35 GW and Latin America with 25 GW.

Offshore growth will be concentrated in China, adding 73 GW, and Europe, with more than 37 GW. Britain will account for 16 GW, Germany 7.6 GW, and Poland, the Netherlands, France, and Denmark will contribute smaller amounts. Taiwan plans 6 GW, while Japan and South Korea each target 3.2 GW.

Analysts stated that onshore projects will rely heavily on MPVs to transport turbine blades and equipment from manufacturers in Europe, China, and India. Offshore projects face tighter vessel supply, with only 19 ships currently able to install next-generation turbines above 15 megawatts.

Norway's Cadeler warned of a capacity crunch by 2030, noting that new orders for installation vessels fell 67 percent between 2023 and early 2026 compared with the previous three years. Only one new vessel order was placed in the first quarter, for South Korea.

Paris-based Spinergie indicated that developers are turning to joint ventures with investment funds to secure financing. This could trigger a wave of final investment decisions later this year for projects in South Korea, Japan, and Taiwan.