Offshore Support Vessel Market Potential Growth, Share, Demand and Analysis of Key Players- Research Forecasts to 2024
Category: #world  By Deepak Pardhi  Date: 2019-01-21
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Offshore Support Vessel Market Potential Growth, Share, Demand and Analysis of Key Players- Research Forecasts to 2024

The Offshore Support Vessel market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report LLC.

Shifting trends toward exploration and production across subsea coupled with ongoing expansion of deep-water projects will drive the offshore support vessel market. Growing measures to untap the unexplored hydrocarbon reserves will further stimulate the business outlook. As per EIA, in 2016, Gulf of Mexico accounted for 16% of total U.S. crude production and 4.5% of dry natural gas production. Global Offshore Support Vessel Market will exceed USD 60 billion by 2024, as reported in the latest study report.

Notable players in global offshore support vessel market include Bourbon, Seacor Marine, Farstad, Swire, Tidewater, Gulfmark, Hornbeck, Havila Shipping, Maersk, REM Maritime, Siem, Solstad, Vroon, Edison Chouset, Harvey Gulf and Island Offshore.

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Rising demand for floating production units and drillships will foster the platform supply vessel market growth. Growing installation of FPSOs and FLNG platforms on account of its large production and storage capacity will complement the industry outlook. In 2016, Petronas' first FLNG unit commenced its operation with a processing capacity of 1.2 mtpa at the Kanowit deep-water field in Malaysia.

Norway offshore support vessel market is predicted to surpass 400 OSV fleet by 2024. Strong orderbook of Norwegian shipyards to cater the O&G industry will positively influence the industry landscape. As per the U.S. Energy Information Administration, in 2016, 7% of global offshore oil production was originated from Norwegian fields.

Shifting trends towards ecofriendly hydrocarbons owing to rising environmental concerns will embellish the offshore support vessel market growth. Adoption of LNG as fuel by major fleet owners owing to government regulations toward reduction of marine emissions will stimulate the product demand. In 2015, IMO implemented a legislation that focusses toward reduction of NOx content in fuel to 0.5% for the fleets sailing in emission control areas.  

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U.S. offshore support vessel market is predicted to witness strong growth on account of mature industry and low-risk investment region. Availability of resources across untapped fields along with large ongoing projects will supplement the product demand. A manned tripod structure with a capacity of 5 million cubic feet of gas per day and 4,500 barrels of oil per day is planned to be installed in the U.S. Gulf of Mexico by end of 2017.

Saudi Arabia offshore support vessel market is set to witness gain over 4% by 2024. Ongoing drilling activities along with new subsea E&P projects will augment the industry landscape. The country has several fields including Safaniya oil field that produces 1.1 to 1.5 million barrels per day and holds 13% of the world total offshore oil production.

Table of Content:

 

Chapter 1. Offshore Support Vessel Market Methodology & Scope

 

Chapter 2. Offshore Support Vessel Market Executive Summary

 

Chapter 3. Offshore Support Vessel Industry Insights

 

Chapter 4. Offshore Support Vessel Market, By Vessel

 

Chapter 5. Offshore Support Vessel Market, By Water Depth

 

Chapter 6. Offshore Support Vessel Market, By Fuel

 

Chapter 7. Offshore Support Vessel Market, By Region

 

Chapter 8. Offshore Support Vessel Market Company Profiles

For more information on this report at: https://www.marketstudyreport.com/reports/offshore-support-vessel-market/?utm_source=marketsizeforecasters.com-SP

Related Report:

United States Offshore Support Vessel Market Report 2017

In this report, the United States Offshore Support Vessel market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

https://www.marketstudyreport.com/reports/united-states-offshore-support-vessel-market-report-2017?utm_source=RR-SP

Read more at: https://www.marketwatch.com/press-release/wind-turbine-pitch-systems-market-to-reach-usd-1680-million-by-2023-2019-01-16

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About Author

Deepak Pardhi

Email: [email protected]   

Deepak Pardhi

Deepak Pardhi carries a brief yet notable experience in the digital marketing domain having worked on several projects across a range of niche verticals. Deepak is endorsed with a B.Tech degree in electrical & electronics engineering.

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