The growth of the offshore wind major component replacement market continues! 2022 saw a significant milestone for the O&M jack-up market, with a total of 1316 on-site vessel days.
For the first time in history, the O&M jack-up intervention market size exceeded 1000 days. The milestone was reached despite a 22% decrease in the number of jack-up interventions between 2020 and 2022. This shows an increased average duration of jack-up interventions, as new and more complex turbines reach a higher market share.
Repair Campaigns & +8 MW Turbines Are Drivers
A 35% increase was seen from 2021 to 2022. The main drivers were a repair campaign at Nordsee One ( source), substantial issues with a +8 MW platform, and increased duration spent at the SGRE G4 platform.
Reach out to our Project Manager Lars-André Bugge Tobaben for a demonstration of our Sea Impact Market Intelligence Platform to hear more about the O&M jack-up intervention market. You can also read more about our newly updated O&M Jack-Up Intervention report here.
A big question remains. Will this increase lead to a deficit in the supply of jack-up vessels for O&M?
Our project manager Lars-André said the following on the topic: “With the high demand for jack-up vessels in the lucrative installation market, we see many vessels go through crane upgrades instead of transitioning to the O&M market. Further, we are soon looking into several emerging markets in the new regions such as APAC and the US with little known in terms of O&M dedicated jack-up vessels for these new areas.”
He continued: “The Danish pureplay ZITON A/S appear to also recognise this potential bottleneck. They announced last week that they purchased Wind Enterprise’s sister vessel currently operating in China (source).”
At Sea Impact we are keeping a close eye on the development. So reach out if you want to discuss or hear more about our services.