North Sea Offshore Support Vessels Market - Growth, Trends, and Forecasts (2020 - 2025)

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The North Sea Offshore Support Vessels Market was valued at USD XX.XX in 2015 and is projected to reach USD XX.XX by 2020, at a CAGR of XX.XX% during the forecast period from 2015 to 2020.

On the basis of type, the North Sea offshore support vessels market is segmented into platform supply vessels, anchor handling tug/anchor handling towing supply vessels, multi-purpose/multi-role supply vessels, and other vessels.

North Sea is one of the most explored and oldest regions for oil. The demand for oil and application of enhanced oil recovery techniques are the major drivers for the offshore support vessels market. Leading companies, such as Stat Oil, BP and Shell, are aiming to expand their markets in the North Sea region by 2018. There has been a significant evolution of offshore support vessels in terms of reliability, diversification, and in their worldwide operation and water depth capabilities. The different categories of offshore support vessels available today are increasing with the growth in the technological sophistication.

As oil and gas explorations move towards deeper waters, multi-functional offshore support vessels are now called upon to perform different tasks, and have created various niches or categories within the market. Present day offshore support vessels are equipped with increased cargo capacity, panoramic navigation bridge visibility, large accommodation spaces, enhanced crew amenities, and state-of-the-art propulsion and automation systems.

Vessels designed for inspection, maintenance, and repair are generally equipped with large accommodation spaces, heavy lift cranes, helidecks, and streamlined bow forms for operation in harsh environments. Vessels that are specialized for multi-tasking carry out maintenance and repair operations on platform facilities as well as subsea pipelines and equipment.

Efforts are now underway globally to explore new areas for oil and gas in view of the decreasing reserves. Operators and explorers are now moving in to much deeper seas, wherein the usage of subsea systems is prominent. Factors; such as declining oil and gas reserves, increasing energy demand, and growth in subsea exploration activities; are driving the market. However, environmental barriers; such as the occasions when the operators are forced to work in harsh environments, high initial costs, and lack of skilled labor; are constraining the growth of this market.

An extensively researched competitive landscape section includes the profiles of major companies along with their market share, analysis of their current strategic interests and their key financial information. The major players of this market are Simon Møkster, Siem Offshore, GulfMark, Gulfshield, and Tidewater Inc. among others.

Key Deliverables in the Study:

  • Market analysis for the North Sea Offshore Support Vessels Market, with region specific assessments and competition analysis on global and regional scales
  • Market definition along with the identification of key drivers and restraints
  • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
  • Extensively researched competitive landscape section with profiles of major companies along with their market shares
  • Identification and analysis of the macro and micro factors that affect the North Sea offshore support vessels market on both global and regional scales

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