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Jul 20, 2019 7:08 AM ET

Offshore Support Vessels Market 2019 Global Industry Market Size & Growth, Revenue, Latest Trends, Business Boosting Strategies, CAGR Status, Growth Opportunities and Forecast 2023 - 360 Research Reports


Offshore Support Vessels Market 2019 Global Industry Market Size & Growth, Revenue, Latest Trends, Business Boosting Strategies, CAGR Status, Growth Opportunities and Forecast 2023 - 360 Research Reports

iCrowd Newswire - Jul 20, 2019

Global “Offshore Support Vessels Market 2019-2023” has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Offshore Support Vessels market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Reportspecifies the complete estimate of Global Offshore Support Vessels market business terms, in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region.

Top-Listed Playersin Offshore Support Vessels Market Research Report 2019-2023

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Overview of Offshore Support Vessels Market:

The offshore industry has been through one of the worst crises in history over the past three years, and hence, all the companies in the offshore support vessel market (OSV) have been severely affected. Exploration and production (EandP) companies have reduced their rig counts drastically, causing demand for OSV services to plunge. Excess rig capacity has hit platform supply vessels (PSVs) and anchor-handling tug supply (AHTS) vessels the hardest. For the next few years, OSV firms are likely to have to confront their new reality: lower demand, shorter charter contracts, and reduced day-rates. However, as the oil price has doubled since reaching the bottom in January 2016, the OSV market is expected to move into recovery stage during the forecast period. Rates and utilization are expected to continue being passive during the financial year 2018, as the oversupply of vessels in the market tempers any near-term recovery; however, conditions in the medium-term are expected to improve.Increasing Offshore Decommissioning Activities Driving the MarketWith the drop in oil prices, many of the offshore production platforms have turned uneconomical, and are expected to be decommissioned. Many offshore oil and gas fields, particularly in the Gulf of Mexico and North Sea regions, are approaching their maturity. Therefore, the number of production platforms operating in these fields is expected to be decommissioned in the near future. With the drop in OSV day rates after oil price crisis, decommissioning activity has become cheaper, and hence, some platforms of decommissioning projects, which were delayed in the past, are being reconsidered. There are around 2,189 estimated existing platforms on the outer continental shelf (OCS) of the United States, as of September 30, 2017. Of this, approximately 30% of the platforms are non-producing and need decommissioning. Similar decommissioning activities are expected to be needed in other offshore oil and gas regions as well. The demand for OSVs is expected to further increase from the same, during the forecast period.Asia-Pacific to Witness Modest GrowthWhen counting all asset sizes (i.e., including low-end tonnage), the Southeast Asian market is the largest OSV market in the world. The Asian OSV market has been negatively impacted by continued high-supply growth within the region. As a result, the utilization and day rates of OSV in the region have been under pressure. The market is dominated by local vessel owners and locally flagged ones and is highly competitive. However, with the rebounding of oil prices to sustainable levels, since January 2016, coupled with growing quest for energy security via offshore oil and gas field development, the demand for OSVs is expected to further increase in the Asia-Pacific region during the forecast period.China to Witness High Demand for OSVsAs a part of its national policy to reduce its dependence on foreign countries for its domestic crude needs, China has been rapidly making a significant investment for the development of its offshore oil and gas fields. In 2016, China’s largest producer of crude oil and natural gas, China National Offshore Oil Corporation (CNOOC), drilled a total of 115 exploration wells and made 12 new discoveries in offshore China. The company is planning to drill over 120 offshore exploration wells in the next five years, which, in turn, is expected to increase the demand for PSV and AHTS in the country, to carry out different activities during exploration and production activities.

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Key Highlights from Offshore Support Vessels Market Report 2019.

Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well-recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are as curtained in Offshore Support Vessels industry evolution and predictive analysis.

Manufacturing Analysis —the report is currently analyzed concerning various product type and application. The Offshore Support Vessels Market provides a chapter highlighting manufacturing process analysis validated via primary information collected through Industry and Key officials of profiled companies.

Competition — Leading players have been analyzed depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.

Demand and Supply and Effectiveness — Offshore Support Vessels Market report additionally provides distribution, Production, Consumption for the complete industry.

Offshore Support Vessels MarketTop Regions(regional analysis covers):-

Reasons to Purchase the Report

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Major Points from Table of Contents for Offshore Support Vessels Market 2019:

Part 1 Industry Overview

1.1 Offshore Support Vessels Industry1.1.1 Offshore Support Vessels Market Development1.1.2 Terminology Definition in the Report1.1.2.1 Production1.1.2.2 Offshore Support Vessels Industry Demand1.1.2.3 Offshore Support Vessels Market Sales Revenue1.1.2.4 Ex-factory Price and Sales Price1.1.2.5 Cost1.1.2.6 Offshore Support Vessels Market Gross Margin1.2 Offshore Support Vessels Market Products and Services Scope1.3 Industry Chain1.4 Industry Dynamics and Regulations1.5 Global Market Overview

Part 2 Upstream and Production

2.1 Raw Materials / Components2.2 Procurement Methods and Channels2.3 Offshore Support Vessels Market Cost Structure and Manufacturing2.4 Industry Capacity2.5 Offshore Support Vessels Market Production Distribution by Geography2.5.1 Production in Major Regions / Countries2.5.2 Trade Flow Overview

Part 3 Product Segment

3.1 Introduction by Type3.2 Offshore Support Vessels Market Status

Part 4 Application / End-User Segment

4.1 Introduction by Application4.1.1 Pharmaceuticals4.1.2 Additives4.1.3 Scientific Research4.2 Market Status

Part 5 Regional Market

Part 6 Offshore Support Vessels Market Subdivision

6.1 Regional Production6.1.1 Production by Type

6.2 Regional Demand

6.2.1 Demand by Type

6.2.2 Demand by Application

6.2.3 Additives Demand by Region6.2.4 Scientific Research Demand by Region

Part 7 Offshore Support Vessels Market Forecast

7.1 Global Forecast7.2 Forecast by Type7.3 Forecast by Application7.4 Forecast by Region

Continued…

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