Press release
Offshore Inspection, Repair, and Maintenance 2021 Global Market Key Players - Fugro (Netherlands), Bluestream (Netherlands), James Fisher Offshore (U.K.), Boskalis (Netherlands), Starke Marine (Malaysia)-Analysis And Forecast To 2028
Offshore Inspection, Repair, and Maintenance Market 2021-2028
New study report” Offshore Inspection, Repair, and Maintenance Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028″ has been added to Fortune Business Insights.
Market Overview-
The global offshore inspection, repair, and maintenance market size is anticipated to reach 18.04 billion by 2028 and exhibit a stellar CAGR of 9.4% during the forecast period. The rising focus on advanced unmanned aerial vehicles (UAVs) for offshore operations and the surging demand for energy are projected to bolster the market’s growth. Fortune Business Insights™ has presented this information in its report titled, “Offshore Inspection, Repair, and Maintenance Market, 2021-2028”. The market size stood at USD 8.93 billion in 2020.
The market’s growth is also ascribable to the increasing government initiatives for green energy promotion and surging greenhouse gas emissions. The rising energy demand and consumption worldwide due to the exponentially increasing global populace is likely to increase exploration activities and foster the market’s growth.
Key Players in The Global Offshore Inspection, Repair, and Maintenance Market are:
Fugro (Netherlands)
Bluestream (Netherlands)
James Fisher Offshore (U.K.)
Boskalis (Netherlands)
Starke Marine (Malaysia)
Sapura Energy Berhad (Malaysia)
Petrofac (U.K.)
Technip FMC (U.K.)
Oceaneering (U.S.)
Schlumberger (U.S.)
Baker Hughes (U.S.)
Aker Solutions (Norway)
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COVID-19 Impact-
The unanticipated emergence of the coronavirus pandemic has drastically hit several industries and markets. The demand for oil and gas decreased during the pandemic, which has affected the market’s growth. The implementation of stringent lockdowns and curfews to curb the virus’s rapid spread have hampered the market’s growth. Also, the crucial IMR operations were affected by the pandemic, which further aggravated the situation. Nonetheless, the increasing investments in industry are likely to foster growth for the market in the coming years.
Competitive Landscape-
Key Players Adopt Innovative Growth Strategies to Acquire Growth
The market comprises Furgo, Baker, and Schlumberger as the top players. The key players in the market emphasize research and development, coupled with advanced technologies, to stay at the top of the game. They adopt ingenious growth strategies such as new product developments, technological advancements, collaborations, partnerships, mergers, and acquisitions, among others. For instance, The Israyel Shipyards entered into an agreement in August 2021 with Chevron to perform a 16-month coating program for onshore and offshore assets of Chevron.
Segmentation-
On the basis of service type, the market is trifurcated into inspection, repair, and maintenance. On the basis of type, the market is divided into AUV/ROVs, offshore support vessels, and others. On the basis of application, the market is segmented into wind farms, oil & gas, and others. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights-
Favorable Government Initiatives to Boost Growth in Asia Pacific
Asia Pacific is projected to gain the highest growth in the global offshore inspection, repair, and maintenance market share. The favorable government initiatives for green energy boost the installation of new offshore wind farms and are likely to be the key growth driver for the market. Additionally, the increasing exploration activities by India, China, and other Southeast Asian countries are expected to fuel the market’s growth.
Europe is anticipated to attain substantial growth in the coming years. The growing installation of offshore wind turbines due to growing green energy targets is expected to foster market growth.
North America is expected to witness significant growth due to increasing shale gas activities.
The Middle East & Africa, and Latin America are likely to witness immense growth due to growing planned offshore wind installations in the region.
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Report Coverage-
It provides insights into the market’s economic and political scenarios.
It offers a detailed assessment of the market’s growth potential, demographics, and capabilities.
It assesses the current and upcoming investment opportunities in the market.
It assimilates strategies for growth in the forthcoming years.
It provides valuable information on different market segments, including application, service type, type, and others.
Table of Content:
1.Introduction
2.Executive Summary
3.Market Dynamics
4.Key Insights
5.Qualitative Analysis – Impact of COVID-19
6.Global Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
7.North America Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
8.Europe Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
9.Asia Pacific Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
10.Latin America Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
11.Middle East & Africa Offshore Inspection, Repair, and Maintenance Market Analysis (USD Competitive Analysis
12.Competitive Analysis
Continue….
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About Us:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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