Offshore Inspection, Repair & Maintenance Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Offshore Inspection Market
The Offshore Inspection market size was valued at USD 8.93 billion in 2023, and the market is now projected to grow from USD 9.64 billion in 2024 to USD 18.04 billion by 2032, exhibiting a CAGR of 9.4% during the forecast period of 2024-2032.
The widespread of pandemic has shaken the hydrocarbon industry as the request for oil and gas has diminished. This was primarily overlooked since an expansive number of individuals were limited to their homes in 2020 as the government over the country were forced a strict lockdown and workplaces embraced inaccessible working arrangements to contain the spread of coronavirus. The offshore inspection, repair, and maintenance market growth is hampered as IMR operations are a crucial portion of the oil & gas industry sent to bolster the nonstop generation of hydrocarbons.
The developing request for vitality over the region is pushing their government to introduce the wind ranches. The major locale is reinforcing its control foundation through renewable sources. In expansion, the favorable government arrangements to diminish the emanation of GHG gasses are impelling the establishment of seaward wind ranches. This, in turn, will boost the review, repair, and support market development.
The different preferences advertised by progressed unmanned vehicles, which incorporate soundness, moo sending fetched, progressed information quality, and amazing route calculations, have brought about in their expanded utilization for seaward assessment, repair, and support administrations. The utilization of these progressed unmanned vehicles has developed within the oil & gas industry as well as within the defense segment. This has driven the speculations in this space and boosted the offshore inspection, repairs, and maintenance market income.
Comprehensive Analysis of Offshore Inspection Market
On the analysis of type of service, this market can be majorly separated into inspection, repair, and maintenance. Repair administrations are expected to lead the market, as any repair services carried out at seaward areas primarily include a alter in portion or the total system depending on the blame recognized. Based on sort, the offshore IRM market can be portioned into seaward back vessels, AUVs/ROVs, and others. Autonomous Unmanned Vehicles (AUVs) and Remotely Operated Vehicles (ROVs) are expected to rule the market owing to their developing appropriation seen in later years. Based on the application, the offshore IRM market can be fragmented into oil & gas, wind farm, and others. Moreover, the recent float towards green vitality has driven to the sending of offshore wind farms in different nations.
Asia Pacific is anticipated to project the strongest offshore inspection, repair and maintenance market share with a valuation of USD 2.73 billion within the given estimate period. The major components contributing to the development are the upcoming investigation exercises being carried out at offshore areas from nations such as China, India, and other Southeast Asian nations. Government activities to boost green vitality have driven to the establishment of new offshore wind farms at a quick pace within the region, encourage supporting its dominance of the offshore review, repair, and upkeep market share.
The estimate predicts that the market will be basically ruled by the services being given by major members namely: Aker Solutions (Norway), Bluestream (Netherlands), Starke Marine (Malaysia), Oceaneering (U.S.), Baker Hughes (U.S.), Fugro (Netherlands), Technip FMC (U.K.), Boskalis (Natherlands) and many others. In later years, modern players have entered the advertise, and ceaseless investigate and advancement exercises are being carried out to keep pace with the advancing advances and market players. This has divided the market, and growing investigation exercises at new areas offer new openings for market development.
Within the month of August 2021, Fugro has been granted a geophysical examination by the German Government Sea and Hydrographic Organization. The company will participate with FraunHoler IWES to construct a premise for geophysical models of the seaward wind cultivate destinations.
Segmentation Table
ATTRIBUTE DETAILS
Study Period2017-2028
Base Year2020
Estimated Year 2021
Forecast Period2021-2028
Historical Period2017-2019
UnitValue (USD Billion)
SegmentationBy Service Type, By Type, By Application, and By Region
By Service TypeInspection
Visual Inspection
Ultrasonic
Electromagnetic
Radiography
Pigging
Others
Maintenance
Reactive Maintenance
Predictive Maintenance
Preventive Maintenance
Reliability Cantered Maintenance
Repair
By TypeOffshore Support Vessel
AUV/ROVs
Others
By ApplicationOil & Gas
Wind Farm
Others
By GeographyNorth America (By Service Type, By Type, By, Application Type, By Country)
U.S. (By Application)
Canada (By Application)
Europe (By Service Type, By Type, By, Application Type, By Country)
U.K. (By Application)
Germany (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Norway (By Application)
Russia (By Application)
Rest of Europe (By Application)
Asia Pacific (By Service Type, By Type, By, Application Type, By Country)
China (By Application)
India (By Application)
Japan (By Application)
Australia (By Application)
Southeast Asia (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Service Type, By Type, By, Application Type, By Country)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Service Type, By Type, By, Application Type, By Country)
GCC (By Application)
South Africa (By Application)
Rest of Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancements
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Analysis – Impact of COVID-19
- 5.1. Impact of COVID-19 on the Offshore Inspection, Repair, and Maintenance Market
- 5.2. Steps Taken by the Government to Overcome the Impact
- 5.3. Key Developments by the Industry Players in Response to COVID-19
- 5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
- 6. Global Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Service Type
- 6.2.1. Inspection
- 6.2.1.1. Visual Inspection
- 6.2.1.2. Ultrasonic
- 6.2.1.3. Electromagnetic
- 6.2.1.4. Radiography
- 6.2.1.5. Pigging
- 6.2.1.6. Others
- 6.2.2. Maintenance
- 6.2.2.1. Reactive Maintenance
- 6.2.2.2. Predictive Maintenance
- 6.2.2.3. Preventive Maintenance
- 6.2.2.4. Reliability Centered Maintenance
- 6.2.3. Repair
- 6.3. Market Analysis, Insights and Forecast – By Type
- 6.3.1. Offshore Support Vessel
- 6.3.2. AUV/ROVs
- 6.3.3. Others
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Oil & Gas
- 6.4.2. Wind Farms
- 6.4.3. Others
- 6.5. Market Analysis, Insights and Forecast – By Region
- 6.5.1. North America
- 6.5.2. Europe
- 6.5.3. Asia Pacific
- 6.5.4. Latin America
- 6.5.5. Middle East & Africa
- 7. North America Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Service Type
- 7.2.1. Inspection
- 7.2.1.1. Visual Inspection
- 7.2.1.2. Ultrasonic
- 7.2.1.3. Electromagnetic
- 7.2.1.4. Radiography
- 7.2.1.5. Pigging
- 7.2.1.6. Others
- 7.2.2. Maintenance
- 7.2.2.1. Reactive Maintenance
- 7.2.2.2. Predictive Maintenance
- 7.2.2.3. Preventive Maintenance
- 7.2.2.4. Reliability Centered Maintenance
- 7.2.3. Repair
- 7.3. Market Analysis, Insights and Forecast – By Type
- 7.3.1. Offshore Support Vessel
- 7.3.2. AUV/ROVs
- 7.3.3. Others
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Oil & Gas
- 7.4.2. Wind Farms
- 7.4.3. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. U.S. Market Analysis, Insights and Forecast – By Application
- 7.5.1.1. Oil & Gas
- 7.5.1.2. Wind Farms
- 7.5.1.3. Others
- 7.5.2. Canada Market Analysis, Insights and Forecast – By Application
- 7.5.2.1. Oil & Gas
- 7.5.2.2. Wind Farms
- 7.5.2.3. Others
- 8. Europe Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Service Type
- 8.2.1. Inspection
- 8.2.1.1. Visual Inspection
- 8.2.1.2. Ultrasonic
- 8.2.1.3. Electromagnetic
- 8.2.1.4. Radiography
- 8.2.1.5. Pigging
- 8.2.1.6. Others
- 8.2.2. Maintenance
- 8.2.2.1. Reactive Maintenance
- 8.2.2.2. Predictive Maintenance
- 8.2.2.3. Preventive Maintenance
- 8.2.2.4. Reliability Centered Maintenance
- 8.2.3. Repair
- 8.3. Market Analysis, Insights and Forecast – By Type
- 8.3.1. Offshore Support Vessel
- 8.3.2. AUV/ROVs
- 8.3.3. Others
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Oil & Gas
- 8.4.2. Wind Farms
- 8.4.3. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK Market Analysis, Insights and Forecast – By Application
- 8.5.1.1. Oil & Gas
- 8.5.1.2. Wind Farms
- 8.5.1.3. Others
- 8.5.2. Germany Market Analysis, Insights and Forecast – By Application
- 8.5.2.1. Oil & Gas
- 8.5.2.2. Wind Farms
- 8.5.2.3. Others
- 8.5.3. France Market Analysis, Insights and Forecast – By Application
- 8.5.3.1. Oil & Gas
- 8.5.3.2. Wind Farms
- 8.5.3.3. Others
- 8.5.4. Russia Market Analysis, Insights and Forecast – By Application
- 8.5.4.1. Oil & Gas
- 8.5.4.2. Wind Farms
- 8.5.4.3. Others
- 8.5.5. Italy Market Analysis, Insights and Forecast – By Application
- 8.5.5.1. Oil & Gas
- 8.5.5.2. Wind Farms
- 8.5.5.3. Others
- 8.5.6. Spain Market Analysis, Insights and Forecast – By Application
- 8.5.6.1. Oil & Gas
- 8.5.6.2. Wind Farms
- 8.5.6.3. Others
- 8.5.7. Norway Market Analysis, Insights and Forecast – By Application
- 8.5.7.1. Oil & Gas
- 8.5.7.2. Wind Farms
- 8.5.7.3. Others
- 8.5.8. Rest of Europe Market Analysis, Insights and Forecast – By Application
- 8.5.8.1. Oil & Gas
- 8.5.8.2. Wind Farms
- 8.5.8.3. Others
- 9. Asia Pacific Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Service Type
- 9.2.1. Inspection
- 9.2.1.1. Visual Inspection
- 9.2.1.2. Ultrasonic
- 9.2.1.3. Electromagnetic
- 9.2.1.4. Radiography
- 9.2.1.5. Pigging
- 9.2.1.6. Others
- 9.2.2. Maintenance
- 9.2.2.1. Reactive Maintenance
- 9.2.2.2. Predictive Maintenance
- 9.2.2.3. Preventive Maintenance
- 9.2.2.4. Reliability Centered Maintenance
- 9.2.3. Repair
- 9.3. Market Analysis, Insights and Forecast – By Type
- 9.3.1. Offshore Support Vessel
- 9.3.2. AUV/ROVs
- 9.3.3. Others
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Oil & Gas
- 9.4.2. Wind Farms
- 9.4.3. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China Market Analysis, Insights and Forecast – By Application
- 9.5.1.1. Oil & Gas
- 9.5.1.2. Wind Farms
- 9.5.1.3. Others
- 9.5.2. Japan Market Analysis, Insights and Forecast – By Application
- 9.5.2.1. Oil & Gas
- 9.5.2.2. Wind Farms
- 9.5.2.3. Others
- 9.5.3. India Market Analysis, Insights and Forecast –By Application
- 9.5.3.1. Oil & Gas
- 9.5.3.2. Wind Farms
- 9.5.3.3. Others
- 9.5.4. Australia Market Analysis, Insights and Forecast – By Application
- 9.5.4.1. Oil & Gas
- 9.5.4.2. Wind Farms
- 9.5.4.3. Others
- 9.5.5. Southeast Asia Market Analysis, Insights and Forecast – By Application
- 9.5.5.1. Oil & Gas
- 9.5.5.2. Wind Farms
- 9.5.5.3. Others
- 9.5.6. Rest of Asia Pacific Market Analysis, Insights and Forecast– By Application
- 9.5.6.1. Oil & Gas
- 9.5.6.2. Wind Farms
- 9.5.6.3. Others
- 10. Latin America Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Service Type
- 10.2.1. Inspection
- 10.2.1.1. Visual Inspection
- 10.2.1.2. Ultrasonic
- 10.2.1.3. Electromagnetic
- 10.2.1.4. Radiography
- 10.2.1.5. Pigging
- 10.2.1.6. Others
- 10.2.2. Maintenance
- 10.2.2.1. Reactive Maintenance
- 10.2.2.2. Predictive Maintenance
- 10.2.2.3. Preventive Maintenance
- 10.2.2.4. Reliability Centered Maintenance
- 10.2.3. Repair
- 10.3. Market Analysis, Insights and Forecast – By Type
- 10.3.1. Offshore Support Vessel
- 10.3.2. AUV/ROVs
- 10.3.3. Others
- 10.4. Market Analysis, Insights and Forecast – By Application
- 10.4.1. Oil & Gas
- 10.4.2. Wind Farms
- 10.4.3. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. Brazil Market Analysis, Insights and Forecast – By Application
- 10.5.1.1. Oil & Gas
- 10.5.1.2. Wind Farms
- 10.5.1.3. Others
- 10.5.2. Mexico Market Analysis, Insights and Forecast – By Application
- 10.5.2.1. Oil & Gas
- 10.5.2.2. Wind Farms
- 10.5.2.3. Others
- 10.5.3. Rest of Latin America Market Analysis, Insights and Forecast – By Application
- 10.5.3.1. Oil & Gas
- 10.5.3.2. Wind Farms
- 10.5.3.3. Others
- 11. Middle East & Africa Offshore Inspection, Repair, and Maintenance Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- 11.1. Key Findings / Summary
- 11.2. Market Analysis, Insights and Forecast – By Service Type
- 11.2.1. Inspection
- 11.2.1.1. Visual Inspection
- 11.2.1.2. Ultrasonic
- 11.2.1.3. Electromagnetic
- 11.2.1.4. Radiography
- 11.2.1.5. Pigging
- 11.2.1.6. Others
- 11.2.2. Maintenance
- 11.2.2.1. Reactive Maintenance
- 11.2.2.2. Predictive Maintenance
- 11.2.2.3. Preventive Maintenance
- 11.2.2.4. Reliability Centered Maintenance
- 11.2.3. Repair
- 11.3. Market Analysis, Insights and Forecast – By Type
- 11.3.1. Offshore Support Vessel
- 11.3.2. AUV/ROVs
- 11.3.3. Others
- 11.4. Market Analysis, Insights and Forecast – By Application
- 11.4.1. Oil & Gas
- 11.4.2. Wind Farms
- 11.4.3. Others
- 11.5. Market Analysis, Insights and Forecast – By Country
- 11.5.1. GCC Market Analysis, Insights and Forecast– By Application
- 11.5.1.1. Oil & Gas
- 11.5.1.2. Wind Farms
- 11.5.1.3. Others
- 11.5.2. South Africa Market Analysis, Insights and Forecast – By Application
- 11.5.2.1. Oil & Gas
- 11.5.2.2. Wind Farms
- 11.5.2.3. Others
- 11.5.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By Application
- 11.5.3.1. Oil & Gas
- 11.5.3.2. Wind Farms
- 11.5.3.3. Others
- 12. Competitive Analysis
- 12.1. Company Market Share Analysis, 2020
- 12.2. Company Profile
- 12.2.1. Fugro
- 12.2.1.1. Business Overview
- 12.2.1.2. Product & Service Offering
- 12.2.1.3. Overall Revenue
- 12.2.1.4. Geographic Presence
- 12.2.1.5. Recent Development
- 12.2.2. Bluestream
- 12.2.2.1. Business Overview
- 12.2.2.2. Product & Service Offering
- 12.2.2.3. Overall Revenue
- 12.2.2.4. Geographic Presence
- 12.2.2.5. Recent Development
- 12.2.3. James Fisher Marine Services
- 12.2.3.1. Business Overview
- 12.2.3.2. Product & Service Offering
- 12.2.3.3. Overall Revenue
- 12.2.3.4. Geographic Presence
- 12.2.3.5. Recent Development
- 12.2.4. Rever Offshore
- 12.2.4.1. Business Overview
- 12.2.4.2. Product & Service Offering
- 12.2.4.3. Overall Revenue
- 12.2.4.4. Geographic Presence
- 12.2.4.5. Recent Development
- 12.2.5. Starke Marine Sdn. Bhd.
- 12.2.5.1. Business Overview
- 12.2.5.2. Product & Service Offering
- 12.2.5.3. Overall Revenue
- 12.2.5.4. Geographic Presence
- 12.2.5.5. Recent Development
- 12.2.6. Sapura Energy Berhad
- 12.2.6.1. Business Overview
- 12.2.6.2. Product & Service Offering
- 12.2.6.3. Overall Revenue
- 12.2.6.4. Geographic Presence
- 12.2.6.5. Recent Development
- 12.2.7. Petrofac
- 12.2.7.1. Business Overview
- 12.2.7.2. Product & Service Offering
- 12.2.7.3. Overall Revenue
- 12.2.7.4. Geographic Presence
- 12.2.7.5. Recent Development
- 12.2.8. Technip FMC
- 12.2.8.1. Business Overview
- 12.2.8.2. Product & Service Offering
- 12.2.8.3. Overall Revenue
- 12.2.8.4. Geographic Presence
- 12.2.8.5. Recent Development
- 12.2.9. Oceaneering International
- 12.2.9.1. Business Overview
- 12.2.9.2. Product & Service Offering
- 12.2.9.3. Overall Revenue
- 12.2.9.4. Geographic Presence
- 12.2.9.5. Recent Development
- 12.2.10. Schlumberger
- 12.2.10.1. Business Overview
- 12.2.10.2. Product & Service Offering
- 12.2.10.3. Overall Revenue
- 12.2.10.4. Geographic Presence
- 12.2.10.5. Recent Development
- 12.2.11. Baker Hughes
- 12.2.11.1. Business Overview
- 12.2.11.2. Product & Service Offering
- 12.2.11.3. Overall Revenue
- 12.2.11.4. Geographic Presence
- 12.2.11.5. Recent Development
- 12.2.12. Aker Solutions
- 12.2.12.1. Business Overview
- 12.2.12.2. Product & Service Offering
- 12.2.12.3. Overall Revenue
- 12.2.12.4. Geographic Presence
- 12.2.12.5. Recent Development
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