Europe Offshore Support Vessel Market to be dominated by Offshore Wind till 2027
High demand for logistic support for growing offshore
structures and availability of untapped hydrocarbon reserves are driving the
growth of Europe offshore support vessel market in the forecast period, 2023-2027.
According
to TechSci Research report, “Europe Offshore Support
Vessel Market By Region, Competition
Forecast & Opportunities, 2027”,
the Europe offshore support vessel market is anticipated to grow at a steady
rate in the forecast period, 2023-2027. Offshore support vessels refer to the
marine vessels mostly used to transport supplies and equipment, goods during
construction, and subsea exploration activities. They also locate and inspect
oil and gas bearing areas, offering maintenance facilities, positioning, and
towering platforms and rigs. Surging oil and gas exploration activities and the
high demand for power supply vessels in the region are expected to bolster
market growth. The rise in the efforts made by the government authorities to
encourage the deployment of low carbon power generation technologies in a
different location is influencing the market demand. Market players use advanced
technologies and equipment to manufacture computer-controlled vessels that can
automatically control their controller and thruster to maintain the desired
position.
However,
high initial capital requirements and the fluctuation in oil prices may restrain
the growth of the Europe offshore support vessel market in the forecast period.
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The
Europe offshore support vessel market is segmented on the basis of type,
application, end-user, competitional landscape, and regional distribution.
On the basis of type, the Europe
offshore support vessel market is divided into anchor handling towing supply
vessels, power supply vessels, fast supply intervention vessels, multi-purpose
service vessels, and others. The anchor handling towing supply vessels segment
is expected to hold the largest market share in the forecast period, 2023-2027.
They are specifically designed for anchor handling and towage services and can
also supply water, fuel, mud-to-oil rigs, deck cargo according to the
requirements. These vessels are well equipped to operate under challenging
conditions and emergencies and firefighting, oil recovery, and rescue
operations. Deep-water oil & gas reserves in the region have accelerated the
demand for large anchor handling towing supply vessels.
On the basis of application, the Europe
offshore support vessel market is bifurcated into shallow water and deep water.
The shallow water segment is expected to account for a significant market share
in the forecast period. The high demand for petroleum products drives
shallow-water exploration and drilling activities. Advancements to improve the
drilling efficiency and increase investments to expand ultra-deep and deepwater
activities to boost oil exploration are expected to propel the market demand.
On the basis of end-user, the Europe
offshore support vessel market is divided into oil & gas and offshore wind.
Offshore wind is expected to be the fastest-growing segment in the forecast
period. Offshore winds are preferred for power generation over onshore winds as
they fly more uniformly. Offshore support vessels are used for transportation
purposes as they assist operators in transporting turbines at offshore
locations in the offshore wind farm industry. Offshore support vessels assist
in erecting, installing, maintaining turbines, and dismantling offshore wind
farms, and they can transform goods from land to offshore wind farms. Deepwater
exploration and the deployment of large turbines boost the demand for anchor
handling towing supply vessels and power supply vessels. The high demand for
energy generation makes the major oil & gas companies collaborate with
offshore wind operators.
Major market players operating in the Europe
offshore support vessel market are :
- DOF Group
- Solstad Shipping
- Havila Shipping
- Maersk
- Siem Offshore
- DEME
- Northern Offshore Services AB
- Vroon
- Glomar Offshore B.V.`
- Fletcher Group
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“On the basis of country analysis,
Norway is anticipated to hold a major market share in the forecast period. It
boasts a modern offshore fleet and high investments for offshore wind farm
construction, which is expected to create lucrative opportunities for market
growth. Key players participate in seismic, and petroleum surveys for
substantial revenue generation, and the rise in investments in the construction
of offshore wind farms to support maritime support services is expected to
propel the Europe offshore support vessel market growth till 2027” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Europe Offshore Support
Vessel Market By Type (Anchor Handling Towing Supply Vessels, Power Supply
Vessels, Fast Supply Intervention Vessel, Multi-Purpose Service Vessel,
Others), By Application (Shallow water and Deepwater), By End-User (Oil &
Gas and Offshore Wind), By Region, Competition Forecast & Opportunities,
2027”, has evaluated the future
growth potential of Europe offshore support vessel and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Europe offshore support vessel market.
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