The Europe offshore support vessel market is projected to grow steadily between 2023 and 2027, according to a report by TechSci Research titled "Europe Offshore Support Vessel Market By Region, Competition Forecast & Opportunities, 2027". These marine vessels transport supplies, equipment, and goods for construction and subsea exploration activities, as well as locate and inspect oil and gas areas. The market is expected to grow due to increased oil and gas exploration activities and high demand for power supply vessels in the region. Government efforts to promote low carbon power generation technologies in different locations are also driving market demand. However, the market growth may be constrained by high initial capital requirements and fluctuating oil prices during the forecast period. Market players are using advanced technologies and equipment to manufacture computer-controlled vessels that can automatically maintain the desired position by controlling their controller and thruster.
The Europe offshore support vessel market is segmented on the basis of type, application, end-user, competitional landscape, and regional distribution.
According to the TechSci Research report, the Europe offshore support vessel market is segmented into different types, including anchor handling towing supply vessels, power supply vessels, fast supply intervention vessels, multi-purpose service vessels, and others. Among these, anchor handling towing supply vessels are projected to hold the largest market share during the forecast period of 2023-2027. These vessels are specifically designed to handle anchors and towage, as well as supply water, fuel, and deck cargo to oil rigs as required. They are equipped to operate effectively in challenging conditions, and can also perform emergency services like firefighting, oil recovery, and rescue operations. The high demand for large anchor handling towing supply vessels has been fueled by the presence of deep-water oil & gas reserves in the region.
Based on its application, including shallow water and deep water segments. The shallow water segment is expected to hold a significant market share during the forecast period, driven by the high demand for petroleum products and subsequent exploration and drilling activities in shallow waters. Additionally, advancements in drilling technology and increased investments in ultra-deep and deepwater activities are expected to further drive market demand by boosting oil exploration.
Based on end-users, which include oil & gas and offshore wind. The offshore wind segment is predicted to have the highest growth rate during the forecast period. Offshore wind is preferred for power generation as it provides more consistent winds compared to onshore wind. Offshore support vessels are used for transportation purposes, assisting operators in carrying turbines to offshore locations in the offshore wind farm industry. Offshore support vessels aid in the installation, maintenance, and dismantling of offshore wind farms and can also transport goods from land to offshore wind farms. The demand for anchor handling towing supply vessels and power supply vessels is boosted by deepwater exploration and the deployment of large turbines. The high demand for energy generation has prompted major oil & gas companies to collaborate with offshore wind operators.
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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.
About TechSci Research:
TechSci Research is a research based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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