Westford,USA, Aug. 16, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest,implementing stringent environmental regulations and restrictions on fossil fuel usage and extraction is expected to drive the development of efficient LNG (liquefied natural gas) bunkering networks. LNG is becoming a popular alternative to traditional fuels in the offshore support vessels market as the demand for cleaner energy sources increases.
Browse in-depth TOC on the "Offshore Support Vessels Market"
- Pages - 270
- Tables - 88
- Figures – 76
Offshore support vessels are crucial in supporting offshore industry subsea exploration and construction activities. These versatile marine vessels are specifically designed and equipped to transport goods, supplies, and equipment necessary for various offshore operations in the offshore support vessels market In addition, they enable the efficient and safe transportation of personnel, machinery, and materials to and from offshore installations, rigs, and platforms.
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Prominent Players in Offshore Support VesselsMarket
- Bourbon Offshore
- Swire Pacific Offshore
- Tidewater Inc.
- GulfMark Offshore, Inc.
- Hornbeck Offshore Services
- Edison Chouest Offshore
- SEACOR Marine
- Harvey Gulf International Marine
- Solstad Offshore ASA
- Farstad Shipping ASA
- Siem Offshore
- DOF ASA
- PACC Offshore Services Holdings Ltd.
- Vroon Offshore Services
- MMA Offshore Limited
- Topaz Energy and Marine
- Wintermar Offshore Marine Group
- Abdon Callais Offshore LLC
- Miclyn Express Offshore
- Bass Marine Pty Ltd.
Ultra-Deepwater Segmentis Expected to Dominate the Market Due to the Recent Technological Advancements
The ultra-deepwater segment has emerged as a significant sector in the offshore support vessels market owing to recent technological advancements. As a result, this segment has gained prominence alongside other segments and contributes nearly equal to the market's revenue.
The markets in the North America are currently dominating the offshore support vessels market and are expected to witness significant growth during the forecast period. This can be attributed to several factors, including higher oil prices and lower drilling costs, which have substantially increased offshore oil and gas production in the region.
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Offshore Oil and Gas Segment is Expected to Grow the Market Due toProvide Essential Support Services
The offshore oil and gas segment is anticipated to be the largest and most significant segment in the offshore support vessels market during the forecast period. Offshore support vessels are purposefully designed to provide essential support services for various oil and gas operations in offshore environments.
Regional markets inthe Asia Pacific encompassing significant economies such as China, India, Indonesia, Malaysia, Vietnam, and Thailand, are experiencing a notable emphasis on expanding offshore exploration and production (E&P) capital expenditures (CAPEX). The region is characterized by its vast coastal areas with promising offshore oil and gas reserves in the offshore support vessels market.
A comprehensive analysis of the major players in the offshore support vessels market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Offshore Support VesselsMarket
- Island Offshore, a Norwegian company, recently secured new support vessel contracts worth NOK 500 million. These contracts include the provision of platform supply vessels, anchor handling tug supply (AHTS) vessels, and light well intervention vessels. The projects under these contracts are expected to be completed within the current year.
- Nexans Norway recently awarded Havila Shipping a contract for the offshore construction vessel Havila Phoenix. The vessel is set to remain in service until the end of October 2022. These contracts highlight the ongoing activities and investments in the offshore industry, particularly in the Norwegian region, and signify the demand for specialized vessels to support various offshore operations.
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Key Questions Answered in Offshore Support VesselsMarket Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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