Global Wind-Assisted Propulsion Market size is valued at USD 165.9 Million in 2024 and is predicted to reach USD 44,450.1 Million by the year 2034 at a 75.9% CAGR during the forecast period for 2025-2034.
Wind-assisted propulsion is the use of wind energy to drive ships or other vehicles, reducing their dependency on traditional fuel sources and, as a result, lowering their environmental effect. This propulsion system uses the power of the wind to generate thrust and propel the vessel ahead. Several significant variables have influenced the adoption of wind-assisted propulsion systems in the maritime industry, representing both economic and environmental concerns. Wind-assisted propulsion systems have become more efficient, reliable, and easy to install into existing boats due to ongoing research and development activities. As these technologies progress and prove themselves, they earn market adoption.
However, the COVID-19 epidemic has had a substantial impact on a number of industries, particularly the maritime industry and the burgeoning market for wind-assisted propulsion systems. The epidemic affected worldwide supply chains, disrupting the manufacturing and distribution of wind-assisted propulsion system components.
The Wind-Assisted Propulsion Market is segmented on the basis of application, technology, installation type, and vessel type. The application segment is segmented into cargo ships (Tankers, Car Carriers/Ro-Ro Vessels, Container Ships, General Cargo Vessels), passenger ships, fishing vessels, and bulk carriers. The technology segment includes Rotors Sails, Sails, Kites, Suction Wings. By installation type, the market is segmented into retrofit and new installation. The vessel type segment includes Wind-Assisted Motor Vessels and Purely Wind Vessels.
The cargo ships category is expected to hold a major share in the global Wind-Assisted Propulsion Market in 2022. Several factors are driving the introduction of wind-assisted propulsion systems in cargo shipping, with the goal of improving efficiency, lowering operational costs, and meeting environmental laws. Wind-assisted propulsion devices drastically cut cargo ship fuel consumption. Because fuel costs account for a sizable amount of a shipping company's operating expenses, the potential for large savings is a compelling reason to implement these technologies.
The retrofit segment is projected to grow rapidly in the global wind-assisted propulsion market. Numerous market factors are encouraging the retrofit installation of wind-assisted propulsion systems in already-built ships. Through retrofitting, older boats can take advantage of wind-assisted propulsion's benefits, increasing their energy efficiency and environmental friendliness. Technological developments in wind-assisted propulsion have increased the viability and efficiency of retrofit installations. Contemporary technologies are engineered to seamlessly integrate with pre-existing ship structures, resulting in a more seamless and economical retrofit procedure.
Europe Wind-Assisted Propulsion Market is expected to register the maximum market share in revenue in the near future. Due to its major marine sector, the increasing focus on sustainability, and environmental restrictions, the Europe area is a major market for wind-assisted propulsion technologies. The effects of climate change, like increasing sea levels and more frequent and severe weather, are especially dangerous for this area. The pressure on the maritime sector to lower its carbon footprint is growing as environmental worries become more serious. A sustainable option that complies with local environmental objectives is provided by wind-assisted propulsion systems.
Moreover, Asia Pacific is expected to grow significantly in the coming years. Numerous factors, including both economic and environmental concerns, are driving the adoption of wind-assisted propulsion technology in Asia Pacific. There is more demand for companies to implement eco-friendly practices as a result of public awareness of environmental issues and climate change.
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 165.9 Million |
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Revenue forecast in 2034 |
USD 44,450.1 Million |
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Growth Rate CAGR |
CAGR of 75.9% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Mn,and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Application, Technology, Installation Type, Vessel Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Norsepower, bound4blue, Eco Marine Power Co. Ltd., Econowind, Anemoi Marine Technologies Ltd., Airseas, GT Green Technologies, DNV GL, Mitsui O.S.K. Lines, OCEANBIRD, Becker Marine Systems, Propelwind S.A.S., NayamWings Ltd., Aloft Systems Inc., SkySails Marine, and Others |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Wind-Assisted Propulsion Market Snapshot
Chapter 4. Global Wind-Assisted Propulsion Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2034
4.8. Global Wind-Assisted Propulsion Market Penetration & Growth Prospect Mapping (US$ Mn), 2024-2034
4.9. Competitive Landscape & Market Share Analysis, By Key Player (2024)
4.10. Use/impact of AI on WIND-ASSISTED PROPULSION MARKET Industry Trends
Chapter 5. Wind-Assisted Propulsion Market Segmentation 1: By Technology, Estimates & Trend Analysis
5.1. Market Share by Technology, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Technology:
5.2.1. Rotors Sails
5.2.2. Sails
5.2.3. Kites
5.2.4. Suction Wings
Chapter 6. Wind-Assisted Propulsion Market Segmentation 2: By Installation Type, Estimates & Trend Analysis
6.1. Market Share by Installation Type, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Installation Type:
6.2.1. Retrofit
6.2.2. New Installation
Chapter 7. Wind-Assisted Propulsion Market Segmentation 3: By Application, Estimates & Trend Analysis
7.1. Market Share by Application, 2024 & 2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Application:
7.2.1. Cargo Ships
7.2.2. Bulk Carrier
7.2.3. Passenger Ships
Chapter 8. Wind-Assisted Propulsion Market Segmentation 4: By Vessel Type, Estimates & Trend Analysis
8.1. Market Share by Vessel Type, 2024 & 2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Vessel Type:
8.2.1. Wind-Assisted Motor Vessels
8.2.2. Purely Wind Vessels
Chapter 9. Wind-Assisted Propulsion Market Segmentation 5: By Cargo Ships, Estimates & Trend Analysis
9.1. Market Share by Cargo Ships, 2024 & 2034
9.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Cargo Ships:
9.2.1. General Cargo Vessels
9.2.2. Tankers
9.2.3. Car Carriers/Ro-Ro Vessels
9.2.4. Container Ships
Chapter 10. Wind-Assisted Propulsion Market Segmentation 6: Regional Estimates & Trend Analysis
10.1. Global Wind-Assisted Propulsion Market, Regional Snapshot 2024 & 2034
10.2. North America
10.2.1. North America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.2.1.1. US
10.2.1.2. Canada
10.2.2. North America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.2.3. North America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Installation Type, 2021-2034
10.2.4. North America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.2.5. North America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Vessel Type, 2021-2034
10.2.6. North America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Cargo Ships, 2021-2034
10.3. Europe
10.3.1. Europe Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.3.1.1. Germany
10.3.1.2. U.K.
10.3.1.3. France
10.3.1.4. Italy
10.3.1.5. Spain
10.3.1.6. Rest of Europe
10.3.2. Europe Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.3.3. Europe Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Installation Type, 2021-2034
10.3.4. Europe Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.3.5. Europe Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Vessel Type, 2021-2034
10.3.6. Europe Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Cargo Ships, 2021-2034
10.4. Asia Pacific
10.4.1. Asia Pacific Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.4.1.1. India
10.4.1.2. China
10.4.1.3. Japan
10.4.1.4. Australia
10.4.1.5. South Korea
10.4.1.6. Hong Kong
10.4.1.7. Southeast Asia
10.4.1.8. Rest of Asia Pacific
10.4.2. Asia Pacific Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.4.3. Asia Pacific Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Installation Type, 2021-2034
10.4.4. Asia Pacific Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts By Application, 2021-2034
10.4.5. Asia Pacific Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Vessel Type, 2021-2034
10.4.6. Asia Pacific Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Cargo Ships, 2021-2034
10.5. Latin America
10.5.1. Latin America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.5.1.1. Brazil
10.5.1.2. Mexico
10.5.1.3. Rest of Latin America
10.5.2. Latin America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.5.3. Latin America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Installation Type, 2021-2034
10.5.4. Latin America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.5.5. Latin America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Vessel Type, 2021-2034
10.5.6. Latin America Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Cargo Ships, 2021-2034
10.6. Middle East & Africa
10.6.1. Middle East & Africa Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.6.1.1. GCC Countries
10.6.1.2. Israel
10.6.1.3. South Africa
10.6.1.4. Rest of Middle East and Africa
10.6.2. Middle East & Africa Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.6.3. Middle East & Africa Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Installation Type, 2021-2034
10.6.4. Middle East & Africa Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.6.5. Middle East & Africa Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Vessel Type, 2021-2034
10.6.6. Middle East & Africa Wind-Assisted Propulsion Market Revenue (US$ Million) Estimates and Forecasts by Cargo Ships, 2021-2034
Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles
11.2.1. Norsepower
11.2.1.1. Business Overview
11.2.1.2. Key Product/Service
11.2.1.3. Financial Performance
11.2.1.4. Geographical Presence
11.2.1.5. Recent Developments with Business Strategy
11.2.2. bound4blue
11.2.3. Eco Marine Power Co. Ltd.
11.2.4. Econowind
11.2.5. Anemoi Marine Technologies Ltd.
11.2.6. Airseas
11.2.7. GT Green Technologies
11.2.8. DNV GL
11.2.9. Mitsui O.S.K. Lines
11.2.10. OCEANBIRD
11.2.11. Becker Marine Systems
11.2.12. Propelwind S.A.S.
11.2.13. NayamWings Ltd.
11.2.14. Aloft Systems Inc.
11.2.15. SkySails Marine
11.2.16. Others
Wind-Assisted Propulsion Market By Installation Type:
Wind-Assisted Propulsion Market By Application:
Wind-Assisted Propulsion Market By Vessel Type:
Wind-Assisted Propulsion Market By Technology:
Wind-Assisted Propulsion Market By Region:
Europe-
Asia Pacific-
Rest of the World.
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
