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(India.CityRegions.Com, March 17, 2018 ) The Global Offshore Support Vessel Market was valued at USD 14.95 billion in 2016 and is projected to reach USD 23.00 billion by 2025, growing at a CAGR of 4.89% from 2017 to 2025.
Offshore Support Vessels are ships that specifically serve operational purposes such as oil exploration and construction work at the high seas. There are a variety of offshore vessels, which help in exploration and drilling of oil, providing necessary supplies to the excavation and construction units located at the high seas. Benefits of Offshore Support Vessels include - Versatile, long-range solution, Reduces the number of dedicated vessels needed, cost reductions, and increased operational efficiency.
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Competitive Landscape:
The major players in the market are as follows:
Farstad Shipping Asa Swire Group, Ltd. Gulfmark Offshore, Inc. Hornbeck Offshore Services, Inc Rem Maritime as Solstad Offshore Asa Edison Chouest Offshore Harvey Gulf International Marine, LLC Bourbon Corporation Sa Seacor Marine LLC Tidewater, Inc. Havila Shipping Asa The Maersk Group Siem Offshore, Inc. Vroon Group These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Access More Details at http://www.kminsights.com/reports/global-offshore-support-vessel-market--by-depth--deepwater--shallow-water---type--chase-vessels--multi-purpose-supply-vessels--emergency-response-standby-and-rescue-vessels--seismic-vessels--anchor-handling-tug-supply-vessels--platform-supply-vessels--crew-vessels---and-regional-market-size--status-and-forecast-to-2025-171714
Market Dynamics:
Market Drivers 1.1 Increasing demand for oil & gas
1.2 Increasing offshore investment in emerging economies
1.3 Arctic discoveries
1.4 Enhancement in the technology for working in deepwater & ultra-deepwater
Market Restraints 2.1 Rising operational risk
2.2 Stringent government regulations
2.3 Lack of technical expertise
2.4 Declining oil prices
2.5 High capital investment
Research Methodology:
Research study on the Global Offshore Support Vessel Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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Source: EmailWire.Com
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