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Europe Wind-assisted Propulsion Market: Analysis and Forecast, 2023-2032

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  • 116 Pages
  • January 2024
  • Region: Europe
  • BIS Research
  • ID: 5923477
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The Europe wind-assisted propulsion market (excluding U.K.) is projected to reach $8,294.1 million by 2032 from $35.6 million in 2023, growing at a CAGR of 83.22% during the forecast period 2023-2032. Wind-assisted propulsion is listed as a "energy harvesting" technique in energy efficiency indexes due to its use of wind to directly increase thrust. Nonetheless, operational costs are still vulnerable to weather-related fluctuations. However, the benefits of sailing can be enhanced by using weather routing algorithms, which can chart ideal routes tailored to specific vessels. Nonetheless, widespread adoption of wind-assisted propulsion systems (WAPSs) confronts significant challenges, including the critical need for reliable and efficient technologies that can operate well in a variety of weather circumstances.  



While wind propulsion systems have the potential to become more cost-effective in the future, they are now significant investments. The lack of a standardized strategy to designing, building, and integrating wind-assisted propulsion systems on board vessels makes achieving economies of scale and consistent production necessary to minimize costs difficult. Wind-assisted propulsion systems are predicted to grow in popularity over the next decade as a replacement for fuels such as green methanol, biofuels, green hydrogen, and others.

Market Introduction

The wind assisted propulsion market in Europe refers to the use of wind energy to aid in the propulsion of ships and other vessels. Wind-assisted propulsion solutions, such as wind turbines, sails, and kite sails, harness the power of the wind and minimize dependency on traditional fossil fuel engines. These technologies have the potential to assist the European shipping industry in terms of fuel economy, decreased emissions, and total cost reductions.

Sea shipping is the principal way of delivering products throughout the world and is a cornerstone of global trade. The marine industry, on the other hand, has long been recognized as a significant contributor to greenhouse gas (GHG) emissions, owing to the usage of fossil fuels for propulsion. The maritime sector is undergoing a fundamental shift as a result of the pressing need to battle climate change and cut carbon emissions. Wind energy, as harnessed by novel technology like as kite propulsion systems and other wind-assisted solutions, is poised to play a critical role in assisting the marine shipping industry in meeting its ambitious GHG emission reduction targets. The maritime sector can considerably improve its sustainability and minimize its carbon footprint by harnessing the unlimited and pure power of the wind.

Market Segmentation:

Segmentation 1: by Application

  • Cargo Ships
  • Tankers
  • Car Carriers/Ro-Ro Vessels
  • Container Ships
  • General Cargo Vessels
  • Passenger Ships
  • Fishing Vessels
  • Bulk Carriers

Segmentation 2: by Technology

  • Towing Kites
  • Sails
  • Soft-Wing Sails
  • Hard-Wing Sails
  • Flettner Rotors
  • Suction Wings
  • Others

Segmentation 3: by Installation Type

  • Retrofit
  • New Installation

Segmentation 4: by Vessel Type

  • Wind-Assisted Motor Vessels
  • Purely Wind Vessels

Segmentation 5: by Country

  • Germany
  • Greece
  • France
  • Norway
  • Finland
  • Rest-of-Europe

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different technologies, installation types, and vessel types involved in the Europe wind-assisted propulsion market. The technology segment has been segmented into towing kites, sails (soft-wing sails, hard-wing sails), flettner rotors, suction wings, and others. The installation type segment has been segmented into retrofit and new installation. The vessel type segment has been segmented into wind-assisted motor vessels and purely wind vessels. Moreover, the study provides the reader with a detailed understanding of the wind-assisted propulsion market based on application, including cargo ships (tankers, car carriers/ro-ro vessels, container ships, general cargo vessels), passenger ships, fishing vessels, and bulk carriers. The increasing adoption of wind-assisted propulsion in bulk carriers and cargo ships is expected to fuel market growth in the future.

Growth/Marketing Strategy: The Europe wind-assisted propulsion market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business partnerships to strengthen their position in the Europe wind-assisted propulsion market.

Competitive Strategy: Key players in the Europe wind-assisted propulsion market analyzed and profiled in the study involve wind-assisted propulsion manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the wind-assisted propulsion market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players

Some of the prominent producers of wind-assisted propulsion are:

  • Econowind
  • Airseas
  • Norsepower
  • bound4blue


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Table of Contents

1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Technological Innovations in Shipping Industry
1.1.1.2 Increasing Investment in Wind-Assisted Propulsion
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of Wind-Assisted Propulsion Market
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Economic Impact of Wind-Assisted Propulsion
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Need for Reducing GHG Emissions
1.2.1.2 Rise in Sea Trade
1.2.2 Business Challenges
1.2.2.1 High Installation Cost of Wind-Assisted Propulsion Systems
1.2.2.2 Technical Challenges Resisting the Adoption of Wind-Assisted Propulsion
1.2.3 Business Strategies
1.2.3.1 Product and Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions, Partnerships, and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Increasing Preference for Environmental-Friendly Shipping Services
1.2.5.2 Offsetting High Cost of Fossil and Green Fuels
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
2 Regions
2.1 Europe
2.1.1 Market
2.1.1.1 Key Producers and Suppliers in Europe
2.1.1.2 Business Drivers
2.1.1.3 Business Challenges
2.1.2 Application
2.1.2.1 Europe Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.3 Product
2.1.3.1 Europe Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.3.2 Europe Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.3.3 Europe Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.1.4 Europe (by Country)
2.1.4.1 Germany
2.1.4.1.1 Market
2.1.4.1.2 Application
2.1.4.1.2.1 Germany Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.4.1.3 Product
2.1.4.1.3.1 Germany Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.4.1.3.2 Germany Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.4.1.3.3 Germany Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.1.4.2 Greece
2.1.4.2.1 Market
2.1.4.2.2 Application
2.1.4.2.2.1 Greece Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.4.2.3 Product
2.1.4.2.3.1 Greece Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.4.2.3.2 Greece Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.4.2.3.3 Greece Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.1.4.3 Norway
2.1.4.3.1 Market
2.1.4.3.2 Application
2.1.4.3.2.1 Norway Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.4.3.3 Product
2.1.4.3.3.1 Norway Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.4.3.3.2 Norway Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.4.3.3.3 Norway Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.1.4.4 France
2.1.4.4.1 Market
2.1.4.4.2 Application
2.1.4.4.2.1 France Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.4.4.3 Product
2.1.4.4.3.1 France Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.4.4.3.2 France Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.4.4.3.3 France Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.1.4.5 Finland
2.1.4.5.1 Market
2.1.4.5.2 Application
2.1.4.5.2.1 Finland Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.4.5.3 Product
2.1.4.5.3.1 Finland Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.4.5.3.2 Finland Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.4.5.3.3 Finland Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.1.4.6 Rest-of-Europe
2.1.4.6.1 Market
2.1.4.6.2 Application
2.1.4.6.2.1 Rest-of-Europe Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.4.6.3 Product
2.1.4.6.3.1 Rest-of-Europe Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.4.6.3.2 Rest-of-Europe Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.4.6.3.3 Rest-of-Europe Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.2 U.K.
2.2.1 Market
2.2.1.1 Key Producers and Suppliers in the U.K.
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Application
2.2.2.1 U.K. Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.2.3 Product
2.2.3.1 U.K. Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.2.3.2 U.K. Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.2.3.3 U.K. Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix of Key Companies (by Technology)
3.1.3 Market Share Analysis of Key Companies, 2022
3.2 Company Profiles
3.2.1 Norsepower
3.2.1.1 Company Overview
3.2.1.1.1 Role of Norsepower in the Wind-Assisted Propulsion Market
3.2.1.1.2 Product Portfolio
3.2.1.2 Analyst View
3.2.2 bound4blue
3.2.2.1 Company Overview
3.2.2.1.1 Role of bound4blue in the Wind-Assisted Propulsion Market
3.2.2.1.2 Product Portfolio
3.2.2.2 Business Strategies
3.2.2.2.1 Market Developments and Product Developments
3.2.2.3 Corporate Strategies
3.2.2.3.1 Mergers and Acquisitions, Collaborations, Partnerships, and Joint Ventures
3.2.2.4 Analyst View
3.2.3 Econowind
3.2.3.1 Company Overview
3.2.3.1.1 Role of Econowind in the Wind-Assisted Propulsion Market
3.2.3.1.2 Product Portfolio
3.2.3.2 Analyst View
3.2.4 Anemoi Marine Technologies Ltd.
3.2.4.1 Company Overview
3.2.4.1.1 Role of Anemoi Marine Technologies Ltd. in the Wind-Assisted Propulsion Market
3.2.4.1.2 Product Portfolio
3.2.4.2 Business Strategies
3.2.4.2.1 Market Developments and Product Developments
3.2.4.3 Corporate Strategies
3.2.4.3.1 Mergers and Acquisitions, Partnerships, Collaborations, and Joint Ventures
3.2.4.4 Analyst View
3.2.5 Airseas
3.2.5.1 Company Overview
3.2.5.1.1 Role of Airseas in the Wind-Assisted Propulsion Market
3.2.5.1.2 Product Portfolio
3.2.5.2 Business Strategies
3.2.5.2.1 Market Developments and Product Developments
3.2.5.3 Corporate Strategies
3.2.5.3.1 Mergers and Acquisitions, Partnerships, Collaborations, and Joint Ventures
3.2.5.4 Analyst View
3.2.6 GT Green Technologies
3.2.6.1 Company Overview
3.2.6.1.1 Role of GT Green Technologies in the Wind-Assisted Propulsion Market
3.2.6.2 Product Portfolio
3.2.6.3 Business Strategies
3.2.6.3.1 Product Developments and Market Developments
3.2.6.4 Corporate Strategies
3.2.6.4.1 Mergers and Acquisitions, Partnerships, Collaborations, and Joint Ventures
3.2.6.5 Analyst View
3.2.7 DNV GL
3.2.7.1 Company Overview
3.2.7.1.1 Role of DNV GL in the Wind-Assisted Propulsion Market
3.2.7.1.2 Product Portfolio
3.2.7.2 Analyst View
3.2.8 OCEANBIRD
3.2.8.1 Company Overview
3.2.8.2 Role of OCEANBIRD in the Wind-Assisted Propulsion Market
3.2.8.2.1 Product Portfolio
3.2.8.3 Corporate Strategies
3.2.8.3.1 Mergers and Acquisitions, Partnerships, Collaboration, and Joint Venture
3.2.8.4 Analyst View
3.2.9 Becker Marine Systems
3.2.9.1 Company Overview
3.2.9.2 Role of Becker Marine Systems in the Wind-Assisted Propulsion Market
3.2.9.2.1 Product Portfolio
3.2.9.3 Analyst View
3.2.10 SkySails Marine
3.2.10.1 Company Overview
3.2.10.2 Role of SkySails Marine in the Wind-Assisted Propulsion Market
3.2.10.2.1 Product Portfolio
3.2.10.3 Analyst View
4 Research Methodology
4.1 Primary Data Sources
4.2 Data Sources
4.2.1 Research Methodology
4.2.2 Factors for Data Prediction and Modelling
4.3 Assumptions and Limitations
List of Figures
Figure 1: Wind-Assisted Propulsion Market, $Million, 2022, 2023, and 2032
Figure 2: Wind-Assisted Propulsion Market (by Application), $Million, 2027 and 2032
Figure 3: Wind-Assisted Propulsion Market (by Technology), $Million, 2024 and 2032
Figure 4: Wind-Assisted Propulsion Market (by Installation Type), $Million, 2023 and 2032
Figure 5: Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2023 and 2032
Figure 6: Wind-Assisted Propulsion Market (by Region), $Million, 2024 and 2032
Figure 7: Supply Chain Analysis of the Wind-Assisted Propulsion Market
Figure 8: Wind Propulsion Savings with Increased Fuel Prices
Figure 9: Sales in Ocean-Based Industries, 2018
Figure 10: Research Methodology
Figure 11: Top-Down and Bottom-Up Approach
Figure 12: Wind-Assisted Propulsion Market: Influencing Factors
Figure 13: Assumptions and Limitations
List of Tables
Table 1: Consortiums and Associations
Table 2: Regulatory/Certification Bodies
Table 3: List of Government Programs for the Wind-Assisted Propulsion Market
Table 4: List of Programs by Research Institutions and Universities
Table 5: Key Product and Market Developments
Table 6: Key Mergers and Acquisitions, Partnerships, and Joint Ventures
Table 7: Wind-Assisted Propulsion Market (by Region), Units Installed, 2022-2032
Table 8: Wind-Assisted Propulsion Market (by Region), $Million, 2022-2032
Table 9: Europe Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 10: Europe Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 11: Europe Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 12: Europe Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 13: Europe Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 14: Europe Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 15: Europe Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 16: Europe Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 17: Germany Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 18: Germany Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 19: Germany Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 20: Germany Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 21: Germany Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 22: Germany Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 23: Germany Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 24: Germany Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 25: Greece Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 26: Greece Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 27: Greece Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 28: Greece Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 29: Greece Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 30: Greece Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 31: Greece Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 32: Greece Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 33: Norway Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 34: Norway Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 35: Norway Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 36: Norway Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 37: Norway Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 38: Norway Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 39: Norway Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 40: Norway Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 41: France Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 42: France Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 43: France Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 44: France Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 45: France Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 46: France Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 47: France Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 48: France Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 49: Finland Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 50: Finland Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 51: Finland Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 52: Finland Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 53: Finland Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 54: Finland Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 55: Finland Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 56: Finland Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 57: Rest-of-Europe Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 58: Rest-of-Europe Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 59: Rest-of-Europe Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 60: Rest-of-Europe Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 61: Rest-of-Europe Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 62: Rest-of-Europe Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 63: Rest-of-Europe Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 64: Rest-of-Europe Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 65: U.K. Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 66: U.K. Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 67: U.K. Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 68: U.K. Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 69: U.K. Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 70: U.K. Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 71: U.K. Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 72: U.K. Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 73: Product Matrix of Key Companies (by Technology)
Table 74: Market Shares of Key Companies, 2022

Companies Mentioned

  • Norsepower
  • bound4blue
  • Econowind
  • Anemoi Marine Technologies Ltd.
  • Airseas
  • GT Green Technologies
  • DNV GL
  • OCEANBIRD
  • Becker Marine Systems
  • SkySails Marine

Table Information

Report AttributeDetails
No. of Pages116
PublishedJanuary 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 35.6 Million
Forecasted Market Value ( USD ) by 2032 $ 8294.1 Million
Compound Annual Growth Rate83.2%
Regions CoveredEurope
No. of Companies Mentioned10

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