Seismic Support Vessels' Utilization on the Rise in Offshore Oil & Gas Industry

New York, NY -- (SBWire) -- 12/19/2018 --Seismic Support Vessels Market: Introduction

Seismic support vessels are ships used for seismic survey in oceans and high seas as well as for locating and pinpointing the best possible area for oil & gas exploration in the middle of seas/oceans. Seismic support vessels are built carefully and only in select locations across the globe. These vessels are integrated with many gadgets such as commuters, GPS, nautical charts and other equipment that augment the survey process. Seismic support vessels monitor/analyze seismic waves with the help of seismic detectors and determine feasible areas for oil drilling. In addition to determining underwater seismology, these vessels also help in studying the geology of oceans and seas. This study includes oceanic trenches, formation of rocks and other important details that could adversely affect the lives of humans and marine creatures analogously.

Nowadays, seismic support vessels, also known as research vessels, are witnessing high demand, considering the amount of offshore oil & gas drilling that is being carried out. 

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Seismic Support Vessels Market: Dynamics

The growth of the seismic support vessels market is on an upward scale, owing to the increasing demand for these vessels in the offshore oil & gas industry as well as in defence & geological survey. With the advancement of technologies in the offshore oil & gas industry, activities such as seismic surveys are on the rise to minimize the environmental impact of oil and gas exploration on Earth as well as to reduce the probability of drilling dry wells. This factor propels the demand for seismic support vessels, which in turn accelerates the growth of the seismic support vessels market. To increase the security and safety of the countries, most nations have increased their defense budgets, which is expected to positively impact the growth of the seismic support vessels market. Seismic support vessels also help determine natural calamities and are useful in research surveys.

Manufacturers of seismic support vessels continuously focus on integrating advanced technologies and features such as high functionality, large work deck, low noise, low fuel consumption and large accommodation capacity seismic support vessels, which can increase the efficiency, capacity and optimize the accuracy of geological and hydrographic survey in harsh conditions.

Seismic Support Vessels Market: Segmentation

The seismic support vessels market can be segmented on the basis of dimension (length) and application.

On the basis of dimension (length), the seismic support vessels market can be segmented as:

Medium (less than 40 m)
Large (\Between 40m – 70m)
Very large (Greater than 70m)
On the basis of applications, the seismic support vessels market can be segmented as:

Oil & Gas Industry
Geological Survey
Defence
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Seismic Support Vessels Market: Regional Overview

In terms of the geographical reach of the seismic support vessels market, it can be said that economies with longer coastlines are expected to have a larger market share. South East Asia & Pacific and China are expected to remain the most attractive regions in the global seismic support vessels market. These regions register high demand for seismic support vessels, which is driven by the demand from the offshore oil & gas industry. However, in terms of production, Europe and North America are expected to hold prominent shares in the seismic support vessels market due to the high demand of these vessels in geological survey and defense sectors. Moreover, Latin America is also estimated to grow with a significant growth rate over the forecast period, owing to improvements in the logistic and marine industry in the region.

Seismic Support Vessels Market: Market Participants

Examples of some of the market participants identified across the value chain of the global seismic support vessels market include,

Tananger Offshore AS
Damen Shipyards Group
Naval Dynamics
Rederij Groen
Cemre Shipyard
Swire Pacific Offshore Operations (Pte) Ltd
Salt Ship Design
Sanco Shipping AS
Ulstein Group ASA
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.

The report covers exhaust analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes:

North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)
CIS and Russia
Asia-Pacific (China, India, ASEAN, South Korea)
Japan
Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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