(MENAFN- America News Hour) Research Nester published a report titled “Offshore Support Vehicle Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobaloffshore support vehicle market in terms of market segmentation by vessel type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global offshore support vehicle market is estimated to occupy a large amount of revenue by growing at a CAGR of ~7% during the forecast period, i.e., 2022 – 2030, owing to the growing investments in offshore and renewable sectors, and increasing number of deep-water exploration activities across the globe. Along with this, escalating demand for dynamic positioning drilling rigs, and surging requirement of energy are also expected to accelerate the growth of the market in the forthcoming years.
The market is segmented by vessel type and end user. On the basis of vessel type, the anchor handling tug vessels (AHT) segment is anticipated to occupy the largest share during the forecast period on the back of high use of this type of vessels for supplying equipment such as anchors, tugs and winches to hydrocarbon E&P sites. Additionally, by end user, the oil & gas segment is projected to grab the largest share over the forecast period attributing to the increase in investments in exploration and production operations.
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Geographically, the global offshore support vehicle market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to grab the largest share in the market during the forecast period attributing to the growing focus to explore untapped potential reserves, and rising number of vessel manufacturers in the region. Moreover, the market in North America is assessed to witness noteworthy growth in the future owing to the increasing investments for E&P activities from oil & gas companies, and upsurge in production from conventional and unconventional oil reservoirs in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Investments in Offshore Oil & Gas and Renewable Sectors Worldwide to Drive Market Growth
With the rise in population, the increasing demand for energy needs to be met sources such as oil & gas, renewables, thermal, and nuclear power. This has resulted in the discovery of unexplored oil reserves, which are predicted to raise the demand for well drilling and production activities. It is considered to be a significant factor anticipated to drive market growth in the near future.
However, high capital requirements for offshore projects are expected to operate as key restraint to the growth of the global offshore support vehicle market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global offshore support vehicle market which includes company profiling of Bourbon Corporation SA, Tidewater Inc., Seacor Marine Holdings Inc., Maersk Supply Service A/S, Solstad Offshore ASA, MMA Offshore Limited, Havila Shipping ASA, Kawasaki Kishen Kaisha, Ltd, Nam Cheong Offshore Pte Ltd, Zamil Co., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global offshore support vehicle market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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