The global offshore
support vessel market is projected to grow at a CAGR of 5.04% from 2018 to
2023. The market in Asia Pacific is estimated to be the largest market for
offshore support vessels, followed by Europe and North America in 2018. This
trend is expected to continue until 2023. Also, the North American market is
projected to be the fastest-growing market during the forecast period. The
growth of the offshore support vessel market is driven by rising offshore
investments in the US and the Gulf of Mexico, and a focus on the potential
deepwater discoveries in the US.
Rising population and
increasing demand of primary energy consumption are the major factors for
rising investments in emerging economies. Countries in the Western African
region, especially Congo, Liberia, Senegal, and Ghana are planning to increase
the offshore expenditures and drill more offshore wells. West Africa and Brazil
have been very active in the offshore market. There have been new offshore
discoveries in other African countries, such as, Mozambique, Kenya, and
Tanzania. In the southern part of Africa, 265 wells have been drilled offshore
and yet there is plenty of unexplored offshore land in this region.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1212
Asia- Pacific is the other
major region, which is planning to increase its offshore production due to
tremendous pressure to meet energy demand as a result of increased
industrialization, population, and growing consumption. India has 56% of oil
reserves in offshore, and Government of India has planned to add 91 million
barrels of crude oil by 2017, to improve energy security and protect the
country from supply disruptions. China National Offshore Oil Corporation, a
state-owned Chinese E&P company, has expanded its presence in offshore
zones in Bohai Bay and South China Sea. Moreover, with policy change, several
private players have entered the business. So, the increasing investments in
emerging economies would positively contribute to the offshore support vessel
market.
Opportunity: Modern technology for
working in deepwater & ultra-deepwater
With the gradual maturity of shallow water fields, oil
& gas operators are exploring for deep and ultra-deep water opportunities
to meet the growing oil & gas demand. This has stimulated growth in
investments in offshore and subsea activities. The shallow water covers
majority of the market share, but the vessels used here are not capable of
working in deepwater and ultra-deepwater due to harsh climatic conditions. This
factor offers great opportunity for the manufacturers to manufacture
technologically equipped vessels to face the challenging environmental
condition. For instance, invention of Dynamic Positioning (DP) system for
marine vessels is very remarkable and has been accepted worldwide. With the
changing requirements and need of upgradation, DP-1 vessels are almost in their
last phase and used in crew supply vessels only, DP-2 and DP-3 vessels are more
frequently used in PSVs and gaining more importance in the market. The
evolution of DP vessels is one such example of technological upgradation that
enables vessels to work in tough conditions. Hence, technological advancement
is one of the key drivers fueling the growth of the offshore support vessel
market.
Request Sample
Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1212
The offshore support vessel market is dominated by a few global
players. The key players in the offshore support vessel market include
integrators such as Bourbon (France), Seacor Marine (US), Swire Group (Hong
Kong), Tidewater (US), Gulfmark Offshore (US), Havila Shipping ASA (Norway),
Hornbeck Offshore Services (US), The Maersk Group (Denmark), and Siem Offshore
(Norway).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on
30,000 high growth niche opportunities/threats which will impact 70% to 80% of
worldwide companies’ revenues. Currently servicing 7500 customers worldwide
including 80% of global Fortune 1000 companies as clients. Almost 75,000 top
officers across eight industries worldwide approach MarketsandMarkets™ for
their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™
are tracking global high growth markets following the "Growth Engagement
Model – GEM". The GEM aims at proactive collaboration with the clients to
identify new opportunities, identify most important customers, write
"Attack, avoid and defend" strategies, identify sources of
incremental revenues for both the company and its competitors.
MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top
players across leaders, emerging companies, innovators, strategic players)
annually in high growth emerging segments. MarketsandMarkets™ is determined to
benefit more than 10,000 companies this year for their revenue planning and
help them take their innovations/disruptions early to the market by providing
them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and
market research platform, "Knowledgestore" connects over 200,000
markets and entire value chains for deeper understanding of the unmet insights
along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/offshore-support-vessel.asp
No comments:
Post a Comment