Press release
Offshore Supply Vessels Market 2018 - 2023 | Leading International Manufacturers: Maersk , Siem Offshore AS , SEACOR Marine , Tidewater , GulfMark Offshore Inc. , Havila Shipping
The global offshore support vessel market is projected to reach USD ~25.0 billion by 2023 at a CAGR of more than ~5.0% during the forecast period. Deep-water and ultra-deep water exploration activities in Middle East in Europe increased, helping the global offshore support vessel market, grow.
During the last decade, the offshore industry has extended, which led the demand of offshore support vessel for carrying out the operations essential for drilling rigs, moor or fix platforms.
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The main drivers of this global offshore support vessel markets are advancement of technology, rapid development in Asian countries, better trade policies, increasing regasification terminals at offshore because of growing LNG demand, and increasing investment in oil and gas and renewable sector worldwide. High operational efficiency is the main challenge that operators need to work upon. Whereas, government bodies are also revising the equipment safety regulation and increase focus on safe operation of offshore vessel.
Top Key Players:-
The major key player in global offshore support vessel market are Maersk (Denmark), Siem Offshore AS (Norway), SEACOR Marine (U.S.), Tidewater (U.S.), GulfMark Offshore Inc. (U.S.), Havila Shipping (Norway), and Vroon B.V. (Netherlands). Swire Pacific Offshore Operations (Pte) Ltd (Singapore), Edison Chouest Offshore (U.S.), Abdon Callais Offshore LLC (U.S.), Solstad Farstad (Norway), and Bourbon Offshore (France) are among others who are highly capable to serve the best in the industry.
Market Segmentation:-
Based on type, the market has been segmented as Anchor Handling Tug Supply Vessel, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel, Standby & Rescue Vessel and seismic vessel. Among them, Anchor Handling Tug Supply Vessel is estimated to have high growth and the largest market share in forecast period as it holds various functions together such as mooring chain of drilling rigs, positioning of site, towing of rigs, and other supply duties as and when required. Anchor Handling requires high power, deck space aft, winch capacity and other auxiliary handling equipment.
The global offshore support vessel market is further segmented by type as Anchor Handling Tug Supply Vessel, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel, Standby & Rescue Vessel and seismic vessel, by applications as Shallow water and Deepwater and by Region as North America, Asia Pacific, Middle East, and South America & Africa.
Major Pointsof Table Of Content:-
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
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3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
To be Continued....
Global Offshore Support Vessel Market Analysis:-
The global offshore support vessel is expected to grow at USD ~25.0 billion by 2023 with a CAGR of more than ~5.0% in the forecast period because of rise in oil and gas demand, across the world, and an increase in offshore exploration and drilling activities. Additionally, companies involved in this give the highest importance to R&D to ensure better operational efficiency because of growing fleet competitors in market.
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Based on region, North America is the largest market share as there are large untapped resources and a high number of rig count of ~200, followed by Asia Pacific, which includes countries such as China and India. The future seems secure for offshore support vessel as India consists more than ~200 fleet and this count is increasing as these countries are tying up with other foreign flagged vessel for fulfilment of the demand.
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