Offshore support vessels refer to vessels that are principally used to serve operational purposes like construction work at a site, tasks that are related to offshore oil exploration. It not only aids in the exploration, production, and drilling of the resources, but also supports all activities that are related to construction and excavation on offshore sites. These vessels also present the transfer and relieving of crew members on site, as and when required. During the last decade, the offshore trade has expanded, leading to a rising demand for offshore support vessels for carrying out various operations necessary for drilling rigs, moor, and fix platforms.
Considering the ascending graph of the growth of the market, Market Research Future (MRFR) in its recently published study analysis asserts that the global offshore supply vessels market is poised to touch a valuation over USD25 BN by 2023 registering over 5% CAGR throughout the forecast period (2018-2023).
Also Read: http://www.marketwatch.com/story/offshore-support-vessel-market-statistics-2020-global-analysis-by-size-share-growth-opportunities-covid—19-impact-analysis-prominent-players-trends-and-forecast-2023-2020-08-12
Industry Highlights
Offshore Supply Vessels, one of the crucial aspects for the offshore O&G platforms are basically ships that precisely serve operational purposes such as installation of rigs systems, O&G exploration and storage. These Vessels are perceiving an augmented demand worldwide attributing to the rising oil & gas exploration activities around the globe. Simultaneously, ever rising high demand for crude oil is fostering the growth of Offshore Supply Vessels market. Moreover, constant development of offshore reserves and rising deep water production influence the growth of the global offshore drilling market positively. Owing to all these factors; the market of Offshore Supply Vessels is garnering an extensive demand on the global platform growing enormously.
Some of the main drivers of the global Offshore Supply Vessel Market, as stated in the report include the advancements noted in technology and rapid developments in countries residing within Asia Pacific. Further, better trade policies are also observed to supplement market growth over the forecast period. Increasing regasification terminals at offshore sites owing to the growing LNG demands is also estimated to promote the growth noted in the global offshore supply vessel market. Furthermore, mounting investments in the oil and gas industry, along with the renewable sector across the world is fostering market growth to a new level.
Major Players:
Siem Offshore AS (Norway),
GulfMark Offshore Inc. (U.S.),
Maersk (Denmark),
SEACOR Marine (U.S.),
Tidewater (U.S.),
Vroon B.V. (Netherlands),
Havila Shipping (Norway),
Edison Chouest Offshore (U.S.),
Abdon Callais Offshore LLC (U.S.),
Swire Pacific Offshore Operations (Pte) Ltd (Singapore),
Solstad Farstad (Norway), and
Bourbon Offshore (France)
Global Offshore Supply Vessels Market
For a better understanding, the report has been segmented into three key dynamics:
By Type : Anchor Handling Tug Supply, Platform Supply, Multipurpose Support, Seismic, and Standby & Rescue among others.
By Application : Shallow Water and Deepwater.
By Region : Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Regional Analysis
The offshore supply vessel market is segmented into North America, Latin America, Asia Pacific, the Middle East & Africa, and Europe.
Alternative to other regions, Asia Pacific is estimated to hold a larger share of the global offshore supply vessel market, boasting dominance. Within the APAC region, the potential growth pockets for offshore supply vessels include India, China, Thailand, Indonesia, and Malaysia. In addition, Asia Pacific is witnessing booming growth due to better-equipped vessels that contain increased cargo capacity, panoramic navigation bridge visibility, enhanced crew amenities, large accommodation spaces, and automation systems.
On the other hand, North America and the Middle East & Africa has shifted focus of operation towards offshore markets. Moreover, liberalization of the oil and gas industry in Mexico is another factor fueling the regional offshore supply vessel market growth.
Browse Full Report at: https://www.marketresearchfuture.com/reports/offshore-supply-vessels-market-2067
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