Press release
What's driving the Offshore Inspection, Repair & Maintenance Market Growth? Prominent Players: Subsea 7, TechnipFMC, McDermott International Inc., Sapura Energy Berhad, Petrofac, Bonatti S.p.A., Fluor Corporation, Baker Hughes, a GE company, Jacobs, Aker
Request a Sample Copy of the Global Market Research Report https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/offshore-inspection-repair-maintenance-market-100405
Offshore inspection and maintenance refer to activities that primarily involve repair and maintenance of subsea facilities and installations. The vessels that are designed for such work can operate in harsh weather conditions and are well-equipped to carry out a variety of functions.
Fortune Business Insights covers some of the major players in the global offshore inspection repair and maintenance market. They include
o Bonatti International
o Subsea 7
o Industrial Sky Works
o Sapura Energy
o Oceaneering International
o Bibby Offshore Limited
o Technip FMC
Rising Fears of Oil Spilling Disasters to Boost Market Growth
Increasing offshore exploration activities that involve huge ships and oil rigs have elevated the fears about oil-related disasters at sea. Such disasters not only cause huge economic losses but also deeply affect the surrounding marine life. For example, the effects of the 2010 Deepwater Horizon oil spill disaster in the Gulf of Mexico are being felt even today by the marine life in the region. The global offshore inspection, repair, and maintenance market is expected to benefit as disaster prevention measures will require higher grade repair and maintenance activities.
Growing Demand for Clean Energy to Spur the Market
The global offshore inspection, repair, and maintenance market are set to experience substantial growth owing to the rising awareness and demand for clean energy solutions. As a result, many countries are investing in offshore wind farms to generate power through renewable energy sources. These farms require frequent repair and maintenance for their long-term functioning, stability, and efficiency. This augurs well for the global offshore inspection, repair, and maintenance market which will expand as new offshore technologies come to the fore.
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/offshore-inspection-repair-maintenance-market-100405
Safety Concerns May Hamper the Market
Offshore inspection, repair, and maintenance activities involve various risks, especially if the vessels contain human operators. Accidents, equipment failure, and loss of communication pose a direct threat to the lives of the humans involved. Similarly, Remotely Operated Vehicles (ROVs) may not function as efficiently. These vehicles are costly and any damage to them may seriously make the company reconsider their investments. Moreover, the rising frequency of oil spill cases is leading to widespread speculation and disruptions in the oil market. These factors are anticipated to emerge as major roadblocks in the development of the global offshore inspection, repair, and maintenance market during the forecast period.
Key Market Driver - Rise in exploration of oil & gas along with booming offshore wind farms
Key Market Restraint - Fluctuating prices of hydrocarbon
Market Competition to Intensify; Novel Innovations to Lead the Way
The global offshore inspection, repair, and maintenance market is poised to witness intense competition with leading players making greater investments in innovation and strategic collaborations to enhance their market presence. For example, in February 2019, Austria-based OMV Aktiengesellschaft announced its partnership with Malaysia-based Sapura Energy to expand their presence into the Asia-Pacific region. In June 2019, Oceaneering International launched the Inform Inspect digital asset inspection system, a tablet-based technology, to streamline non-destructive testing (NDT) and inspection management.
Key Industry Developments
o In March 2019, Bhagwan Marine has recognized for inspection, reporting, and maintenance of the Port of Melbourne's infrastructure assets. Bhagwan Marine will provide a skilled workforce, construction vessels and workboats to undertake tasks inclusive of diving, inspection, maintenance, and repairs.
o In February 2019, Subsea7 S.A. has been awarded a contract by BP exploration for the subsea construction, inspection, repair and maintenance services covering BP's North Sea region.
o In January 2019, Bureau Veritas has been awarded a four-year contract by Neptune Energy to provide second and third party inspection services for the new Fenja oil and gas project in Norway.
Request for Customization https://www.fortunebusinessinsights.com/enquiry/customization/offshore-inspection-repair-maintenance-market-100405
Key Segmental Overview:
1. By Type
o Offshore Support Vessels
o Platform Supply Vessels
o Remotely Operated Vehicle (ROV) & Autonomous Underwater Vehicle (AUV)
o Drone Inspection
o Others
2. By Application
o Drilling Rigs
o Wind Farms
o Others
3. By End User
o Oil & Gas
o Navy
o Offshore Wind Farms
By Geography
o North America (USA and Canada)
o Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
o Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
North America and Europe to Dominate the Market Share
Increasing investments in development offshore windfarms and heightened hydrocarbon exploration activities are expected to propel the market in North America. Europe, with its intense focus on combating global warming, is expected to emerge as a leading contributor in the global offshore inspection, repair, and maintenance market during the forecast period. Countries like the UK and Germany have already spruced up their installations of offshore windfarms and other clean energy facilities. Asia-Pacific is going to be a significant region owing to the rapidly developing economies, mainly India and China. These countries, with their increasing energy demands and their geographical locations, are encouraging more investment in hydrocarbon exploration activities, which is good news for the global inspection, repair, and maintenance market.
Have any Query? Speak to Analyst at: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/offshore-inspection-repair-maintenance-market-100405
Major Table of Content For Offshore Inspection, Repair & Maintenance Market:
1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Offshore Inspection, Repair & Maintenance Market Analysis, Insights and Forecast, 2026
6. North America Offshore Inspection, Repair & Maintenance Market Analysis, Insights and Forecast, 2026
7. Europe Offshore Inspection, Repair & Maintenance Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Offshore Inspection, Repair & Maintenance Market Analysis, Insights and Forecast, 2026
9. Middle East and Africa Offshore Inspection, Repair & Maintenance Market Analysis, Insights and Forecast, 2026
10. Latin America Smart Mining Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
13. Conclusion
Contact Us:
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
About us:
Fortune Business Insights(TM) offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights(TM) we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights(TM) Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights(TM)
LinkedIn | Twitter | Blogs
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release What's driving the Offshore Inspection, Repair & Maintenance Market Growth? Prominent Players: Subsea 7, TechnipFMC, McDermott International Inc., Sapura Energy Berhad, Petrofac, Bonatti S.p.A., Fluor Corporation, Baker Hughes, a GE company, Jacobs, Aker here
News-ID: 2028578 • Views: …
More Releases from Fortune Business Insights Pvt. Ltd.
Luxury Goods Market Size Report, Trends, Overview, Outlook & Future Growth By 20 …
The global luxury goods market size was valued at USD 272.74 billion in 2022. The market is anticipated to grow from USD 284.00 billion in 2023 to USD 392.40 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period.
Luxury products signify the status symbol of an individual. Businesses focus on high-income populations with visually appealing designs and technology-integrated products. For instance, NFC-installed chips in jewelry; a product called…
With 17.2% CAGR, Smart Glass market Market to Hit USD 15,788.0 Million by 2022-2 …
The global smart glass market size is anticipated to reach USD 15,788.0 million by 2027, owing to the rise in the use of smart glass for different applications such as aerospace, marine, architectural, and automotive.
Smart glass or switchable glass is glazing or a glass with altered transmission properties as and when heat, light, or voltage is applied. They are capable of changing their appearance from opaque to translucent to transparent…
Non-alcoholic Beverages Market Segmentation& Analysis, Industry Growth Forecast …
According to Fortune Business Insights ™, the global non-alcoholic beverages market size is anticipated to rise significantly on account of the current trend of health and fitness and the rising inclination towards healthy beverages. The value of this market was USD 919.13 billion in 2019 and is expected to rise at a CAGR of 8.20% between 2020 to 2027 to reach USD 1,257.77 billion by the end of 2027.
List of…
Intravenous Iron Drugs Market 2022: Global Technology, Segmentation, Growth, Dev …
Global Intravenous Iron Drugs Market Size research report 2022 offers an in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market. The demand for refractive surgeries is anticipated to increase, attributed to the rise in the aging population and excessive use of digital devices, which has increased the screen time of the world population due to the…
More Releases for Offshore
Offshore Supply Vessels Market Competitive Analysis By 2025 : Maersk, Siem Offsh …
This industry study presents the global Offshore Supply Vessels market size, historical breakdown data (2013-2018) and forecast (2018-2025). The Offshore Supply Vessels production, revenue and market share by manufacturers, key regions and type. The consumption of Offshore Supply Vessels in volume terms are also provided for major countries (or regions), and for each application and product at the global level. Market share, growth rate, and competitive factors are also evaluated…
Offshore Supply Vessels Market Outlook to 2025: Maersk, Siem Offshore, SEACOR Ma …
Offshore Supply Vessels Market report, industry trends have been explained on the macro level which makes it possible outline market landscape and probable future issues. This market research report contains thorough analysis of market and numerous related factors that range from market drivers, market restraints, market segmentation, opportunities, challenges, and market revenues to competitive analysis.
The report analyses and estimates general market drivers in the form of consumer demand, government policy…
Offshore Supply Vessels Market Outlook to 2025 - Edison Chouest Offshore, Maersk …
With several global sectors and several top players churning the revenue mill in the Offshore Supply Vessels market in the Global industry with the help of their skills and knowledge in the Offshore Supply Vessels market, it is important to have an in-depth knowledge of their marketing strategies. This Offshore Supply Vessels report provides the same amount of knowledge of the Offshore Supply Vessels market regardless of marketing terminologies like…
Offshore Support Vessels Market Outlook to 2025: BOURBON, Tidewater Marine, Siem …
According to this study, the Offshore Support Vessels Market research report is a professional and in-depth research on the current state of the global market. Report gives comprehensive analysis of the market structure along with forecast of the various segments and sub-segments of the offshore support vessels market.
Offshore Support Vessels is a ship specially designed to supply offshore oil and gas platforms. These ships range from 50 to 100…
Offshore Supply Vessel Market to 2025 - Edison Chouest Offshore, Maersk Global S …
Offshore Supply Vessels market is also presented to the readers as a holistic snapshot of the competitive landscape within the given forecast period. The report also educates about the market strategies that are being adopted by your competitors and leading organizations. The report also focuses on all the recent industry trends. It presents a comparative detailed analysis of the all regional and player segments, offering readers a better knowledge of…
Global Offshore Mooring Systems Market 2018-2025: SBM Offshore, BW Offshore, Del …
ResearchMoz include new market research report "Global Offshore Mooring Systems Market Insights, Forecast to 2025" to its huge collection of research reports.
The Offshore Mooring Systems market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to…
