Global Deep-water Support Vessel Market – Introduction

  • Deep-water support vessels are required for cleaning activities in the sea and shores, while diving into the sea for oil & gas exploration, and for offshore drilling inside deep and ultra-deep water surfaces. The vessels used sometimes in ultra-deep-water need to be technologically upgraded according to the harsh environment conditions. Toward this end, new technology such as Dynamic Positioning (DP) systems for marine vessels have been introduced. Deep-water support vessels carry a limited quantity of hazardous substances, because of the risk and possibility of toxic liquid leaking from the vessel. A typical support vessel is a platform supply vessel in a ship, specially designed to supply offshore substances, having a length of 50-100 meters. The main function of the vessel is to help transport goods, tools, equipment, and personnel from one offshore oil platform to another offshore structure. Another commonly used vessel is anchor handling tug supply vessel.

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Increase in oil & gas exploration, expansion of the shipping industry, water drilling, and passenger safeguard mechanisms

  • Extensive utilization of deep-water support vessels in the oil & gas industry in deep drilling activities for crude oil, and transportation of petroleum to big barrels for use in electricity generation, asphalt and road oil, etc., has created huge demand for these vessels. Shipping of heavy equipment which are semi-submersible and are required to be lifted from underneath the water entail the use of deep-water support vessels to reach the remotest locations. Water drilling activities such as exploration of minerals from water, and creating renewable forms of energy (geothermal energy) necessitates deep-sea exploration, wherein water support vessels perform deep boring activities. Divers are required to carry out inspections or survey jobs, installations and configurations of sub-sea equipment, and monitoring the operations, for which they go deep inside the sea. A deep-water support vessel carries out such activities. These factors have increased the demand for deep-water support vessels.

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Rise in clean energy initiatives fuels demand

  • Huge unexplored reservoirs are found beneath the water. Many Gulf countries have invested heavily to explore oil & gas potential in deep seas to extract oil seeps, natural gas seeps, and pockmarks, to use the natural resources and convert them to usable forms such as petroleum and LPG. Significant hydrocarbon reserves which serve as fuels and lubricants have been discovered by deep-water support vessels while going upstream and downstream in water. Projects are undertaken to install new offshore wind farms. Rising production from conventional and unconventional reservoirs such as rocks beneath the sea, tight-gas sands, gas & oil shales, coal bed methane, and heavy oil and tar sands have been initiated. These clean energy initiatives have propelled the demand for deep-water support vessels.

Asia Pacific Considered the Dominant Market for Deep-water Support Vessels

  • In terms of geography, the global deep-water support vessel market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • Markets in North America and Europe are projected to grow at a considerable rate during the forecast period due to rise in investments by companies in the oil & gas sector, exploration of high volume reserves by investors, and creation of more energy forms by utilizing significant offshore reservoirs in the U.S., Canada, Mexico, U.K., Norway, Netherlands etc. These factors are projected to surge the sale of deep-water support vessels.
  • Asia Pacific is the leading market in oil & gas refineries, and in the shipping industry, consequently dominating the deep-water support vessel market. High volumes of oil & gas extraction and storage of oil takes place in the Gulf and the Middle East in countries such as Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Iran, and Iraq. Installation of technologically advanced FPSO vessels to produce bulk volumes from different offshores is set to drive the regional landscape further.

Key Players Operating in the Deep-water Support Vessel Market

Big companies operating in the deep-water support vessel market are facing major challenges related to the manufacturing of the product.  Manufacturing of deep-water support vessels takes more time as the product is heavy, and utmost focus needs to be given to the quality of the product as it goes deep inside the water. Brands such as Damen Shipyards Group, Solstad Offshore ASA, SEACOR Marine, and Maersk Supply Service are focusing on the development of deep-water support vessels keeping in mind the rising energy demand, growing concerns related to enhancing sustainable energy production, and continuous demand to maintain maritime traffic.

Some of the key players operating in the global deep-water support vessel market include:

  • “K” LINE (Kawasaki Kisen Kaisha, Ltd.)
  • Abdon Callais Offshore LLC  
  • BOURBON
  • Damen Shipyards Group
  • Edison Chouest Offshore
  • Havila Shipping
  • Maersk Supply Service
  • SEACOR Marine
  • Solstad Offshore ASA
  • Tidewater Marine

Global Deep-water Support Vessel Market – Research Scope

Global Deep-water Support Vessel Market, by Type

  • Anchor Handling Tug Supply Vessel
  • Platform Supply Vessel
  • Multipurpose Support Vessel
  • Crew Vessel
  • Others (Standby & Rescue Vessel)

Global Deep-water Support Vessel Market, by Water Depth

  • Shallow Water
  • Deep Water
  • Ultra-deep water

Global Deep-water Support Vessel Market, by Application

  • Oil & Gas
  • Offshore Wind
  • Research & Surveying
  • Others (Patrolling)

Global Deep-water Support Vessel Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Deepwater Support Vessel Market

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