Offshore Support Vessel Market Growth Analysis, Industry Trends, Forecast 2024
Date: 2018-11-19   Author: Rahul Sankrityayan  Category: #news

Offshore Support Vessel Market Growth Analysis, Industry Trends, Forecast 2024

Growing demand for floating drillships and production units will embellish the platform supply vessel market share. Increasing installation of FLNG and FPSO platforms subjected to its large storage and production capacity will further stimulate the industry landscape. In 2016, Petronas' first FLNG unit began operation with 1.2 mtpa of processing capacity at the Kanowit deep-water reservoir in Malaysia.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1306

Offshore Support Vessel Market is predicted to surpass USD 60 billion by 2024. Shifting trends toward E&P across subsea along with ongoing expansion plans of deep-water projects will positively impact the offshore support vessel market share. Growing measures to explore the untapped hydrocarbon reserves will further complement the business growth. According to the EIA, Gulf of Mexico accounted for about 4.5% of total U.S. dry natural gas production and 16% of crude production.

Norway offshore support vessel market is anticipated to exceed 400 OSV fleet on account of new oilfield discoveries along with strong order book of country's shipyards to cater the oil & gas industry. As per the U.S. EIA, 7% of the world offshore oil production was produced from Norwegian fields in 2016.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1306

Shifting trends toward ecofriendly hydrocarbons on account of growing environmental concerns will fuel the offshore support vessel market. Adoption of LNG by major fleet owners as a fuel subjected to the government norms toward reduction of marine emissions will foster the product penetration. In 2015, International Maritime Organization (IMO) implemented a legislation to reduce NOx content in fuel to 0.5% for the fleets in emission control areas.

Availability of resources and untapped oil fields coupled with large ongoing projects favored by matured industry & low-risk investment will positively influence the U.S. offshore support vessel market. A manned tripod structure is planned to be installed with production capacity of 4,500 bbl of oil per day and 5 Mcf of gas per day in the U.S. Gulf of Mexico by end of 2017.

Browse Complete Report @ https://www.gminsights.com/industry-analysis/offshore-support-vessel-market

Increasing drilling activities coupled with new subsea exploration & production projects will fuel the Saudi Arabia offshore support vessel market. The country has several huge oil and gas fields including Safaniya oilfield that produces 1.1 to 1.5 million bbl/d and holds around 13% of the total world offshore oil production. Brazil offshore support vessel market is anticipated to witness significant growth owing to predominant expansion of pre-salt deep-water projects coupled with positive outlook towards subsea upstream exploration and production.

Key players in the offshore support vessel market include Seacor Marine, Bourbon, Farstad, Swire, Gulfmark, Hornbeck, Tidewater, Havila Shipping, REM Maritime, Maersk, Siem, Vroon, Edison Chouset, Solstad, Harvey Gulf and Island Offshore.



About Author


Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

Read More

More from Rahul


Post Recommendents

Century Software buys majority stake in Netsense Business Solutions
Author: Saipriya Iyer

Century Software has a long-term collaboration with Acumatica Inc.

The subsidiary of Censof Holdings Bhd, Century Software (M) Sdn Bhd has reportedly announced t...


Insulated Concrete Form Market is expected to witness massive growth by 2025, Asia Pacific is likely to emerge as the most profitable grounds by 2019 – 2024
Author: Rahul Varpe

Asia Pacific, region is likely to emerge as one of the most profitable grounds of the insulated concrete form market. This projection can be credited to the increasing infrastructure investments in the developing countries such as Malaysia, Indone...


Civil Engineering Market from private business customer group is predicted to register an annual growth rate of 4.1% by 2025
Author: Rahul Varpe

U.S. civil engineering market will collect a revenue of USD 1830 billion by 2025. The escalating investments in industrial infrastructure, commercial, and residential sectors across this region will augment the industry growth. Furthermore, the go...