From Oil & Gas to Offshore Wind
The RIV market has undergone a rapid shift from Oil & Gas to Offshore Wind, with wind-related activities rising from 32% of vessel activity in 2018 to around 70% in 2025. This transition has been driven by a 76% increase in Offshore Wind capacity in Northern Europe since 2019, significantly boosting demand for rock installation, particularly for scour protection and export cables. Looking ahead, identified bottom-fixed wind projects are expected to more than double installed capacity by 2030 (+53GW), further reinforcing wind as the primary driver of RIV demand.
Boom in European RIV newbuilds
The RIV fleet is entering a new expansion cycle, with eight new vessels expected to be delivered by 2029, driven by a wave of newbuild orders and ongoing conversions from leading European players. While demand for rock installation is becoming increasingly global, particularly in APAC and other emerging markets, the supply side remains overwhelmingly European. This geographic concentration is likely to sustain cross-regional mobilisations and could lead to localised capacity constraints.
