Dublin, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The "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, By End-User, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

Europe offshore support vessel market is projected to grow at a formidable rate during the forecast period, 2023-2027

The market growth can be attributed to the decommissioning of aging offshore infrastructure and rising investments in developing the renewable energy sector. Besides, a rise in deep-water activities is anticipated to boost the Europe offshore support vessel market.

Offshore support vessels are specifically designed for high-seas oil exploration and construction. These offer required labor, technological equipment, and other supplies to ensure that operations on the high seas run smoothly and without disruptions. The offshore support vessel transports critical structural components and the necessary help to supply freight. Anchor handling towing, power supply, fast supply intervention, and multi-purpose service vessels are examples of offshore support vessels.

The global population is expanding exponentially, fueling the demand for greater energy generation to live a better life. Consumers' increasing spending power allows them to afford consumer electronic devices, automobiles, and other items that require energy as a power supply.

Booming automotive sector and strong vehicle sales due to changing customer preferences for private car ownership and rising disposable income are driving up demand for oil and gas reserves. Thermal, nuclear, oil and gas, geothermal, and other conventional and non-conventional energy sources must meet the increasing energy demands.

Leading government authorities are investing in exploring oil and gas reserves and discovering new untapped resources. The discovery of fresh deposits generates demand for well drilling and production activities, which is expected to fuel the European offshore support vessel industry.

Installation of offshore wind farms, which are a type of power plant built by leading authorities to gather wind power and convert it into energy before supplying it to the main supply network, is expected to boost the expansion of Europe's offshore support vessel market.

Because of increased oil and gas exploration activity, current deposits are gradually maturing, necessitating the need for deep and ultra-deep-water exploration to meet the region's growing energy demand. Offshore and subsea industries are seeing increased investment from market participants.

The market is dominated by shallow water exploration. However, offshore support vessels cannot operate properly in deep and ultra-deepwater due to harsh conditions that may jeopardize oil exploration activities.

Market participants are conducting research and development to identify creative solutions and upgrade existing infrastructure to build technology-equipped boats that can withstand adverse weather conditions. A recent invention for marine vessels is the dynamic positioning system.

Europe offshore support vessel market is segmented based on type, application, end-user, competitional landscape, and regional distribution. Based on the type, the market is divided into anchor handling towing supply vessels, power supply vessels, fast supply intervention vessel, multi-purpose service vessel, and others.

The anchor handling towing supply vessels segment is anticipated to hold the largest share in the Europe offshore support vessel market due to the growing discovery of deep-water oil & gas reserves in the region.

Major players 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, among others.

Objective of the Study:

• To analyze the historical growth in the market size of the Europe offshore support vessel from 2017 to 2021.

• To estimate and forecast the market size of Europe offshore support vessel market from 2023 to 2027 and growth rate until 2027.

• To classify and forecast the Europe offshore support vessel market based on type, application, end user, country, and company.

• To identify the dominant region or segment in the Europe offshore support vessel market.

• To identify drivers and challenges for the Europe offshore support vessel market.

• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Europe offshore support vessel market.

• To identify and analyze the profiles of leading players operating in the Europe offshore support vessel market.

• To identify key sustainable strategies adopted by market players in Europe offshore support vessel market.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Europe offshore support vessel market.

• DOF Group

• Solstad Shipping

• Havila Shipping

• Maersk

• Siem Offshore

• DEME

• Northern Offshore Services AB

• Vroon

• Glomar Offshore B.V.

• Fletcher Group

Report Scope:

Europe Offshore Support Vessel Market, By Type:

• Anchor Handling Towing Supply Vessels

• Power Supply Vessels

• Fast Supply Intervention Vessel

• Multi-Purpose Service Vessel

• Others

Europe Offshore Support Vessel Market, By Application:

• Shallow water

• Deepwater

Europe Offshore Support Vessel Market, By End-User:

• Oil & Gas

• Offshore Wind

Europe Offshore Support Vessel Market, By Country:

• Germany

• United Kingdom

• France

• Italy

• Spain

• Poland

• Netherlands

• Norway

• Russia

• Sweden

• Denmark

Years considered for this report:

• Historical Years: 2017-2020

• Base Year: 2021

• Estimated Year: 2022

• Forecast Period: 2023-2027

For more information about this report visit https://www.researchandmarkets.com/r/5nwf23

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