DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Middle East Offshore Support Vessels Market Outlook to 2021 - Market Analysis by Geography, Type of Vessel, Competitive Landscape, Key Company Information - Growth Trends and Forecasts" report to their offering.
The report analyzes the Market Definition for offshore support vessels along with identification of key drivers and restraints for the market.
In Middle East, the increased exploration activity has led to the increase in the jack up rig count which is a major driver for the offshore support vessels market. With new oil and Energy and Power projects coming up along the region, Middle East market for offshore support vessels is on the rise. 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 an increase in 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.
Efforts are now underway globally to explore new areas for oil and gas in view of decreasing reserves. Operators and explorers are now moving in to much deeper seas, where the use 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. On the flip side, environmental barriers such as occasions when the operators are forced to work in harsh environments, high initial costs, and lack of skilled labor are constraining the growth of the market.
Drivers, Constraints and Opportunities
- Increasing Investments in Offshore Exploration
- Increasing Number of Offshore Oil Fields
- Increasing Energy Demand
- Political Problems
- Environmental Issues
- High Vessel Rates
- High Initial Investment
- New Technology Innovations
- Dependencyon Oil and Gas Prices
Key Company Analysis
- Bourbon Offshore
- Bass Marine Pty Ltd
- Deep Sea Supply Plc
- Edison Chouest
- Eidesvik Offshore
- Farstad Shipping ASA
- Harvey Gulf International Marine
- Intermarine Llc
- Maersk Supply Service
- Rem Maritime As
- Seacor Marine
- Siem Offshore
- Swire Pacific Offshore
- Tidewater Inc.
For more information about this report visit http://www.researchandmarkets.com/research/txgm2z/middle_east