Emergency response and rescue vessels perform field support and response operation along with rescue & emergency towing and coast guard & patrol duties worldwide. These vessels have good maneuverability, enhanced survivor reception, medical aftercare facilities, state-of-the-art navigational communication equipment, and rescue craft capable to operate in severe weather. The vessels are equipped with a daughter craft (DC) and fast rescue craft (FRC) to conduct operations at areas the big vessel cannot reach. Moreover, during bad weather conditions when it is too severe to launch craft the vessels are provided with a mechanical device to recover survivors directly from the sea. For instance, the most common equipment used is Dacon Scoop it is a crane-operated rescue net for recovery of casualties directly from the water on board of rescue vessel. Thus, with the developments in marine industry operation, the casualties and accidents are also rising which is expected to strengthen the emergency response and rescue vessels market.
COVID-19 Impact Analysis
Due to COVID-19, the lockdown imposed by the government and business shutdowns has affected the shipping industry. To stop the spread of the virus a lot of cargo and passenger ships were not allowed to dock at ports by local authorities. Hence several merchant sailors were stranded on the ship itself. Shipowners also had to pay additional costs since their ships were stranded on territorial water for an extended period. Since all the shipping-related activities and offshore oil rigs operations all halted it directly affected the emergency response and rescue vessels market.
The emergency response and rescue vessels market is an evolving sector that was affected negatively due to the pandemic. Moreover, with the rise in the marine industry the rate of accidents is also increasing which will drive the market post the pandemic.
Top Impacting Factors
Rise in gas drilling & offshore activities, shipbuilding industry, use of ships for fishing & commercial use drive the growth of the market.
However, an increase in prices of raw materials and crew & vessel maintenance costs hamper the growth.
Moreover, rise in transportation via waterways, technological advancements, and rise in number of accidents in the sea are opportunistic for the growth of the market.
Gas drilling & offshore activities
Offshore drilling is a mechanical process where a wellbore is drilled below the seabed. It is done to extract petroleum that lies in the seabed. There are more than 12,000 offshore oil & gas rigs worldwide. Moreover, these oil rigs are hazard-prone areas where the chances of accidents are high.
For instance, Ulstein Group ASA revealed its EsvagtStranvanger – SX123 model of emergency response and rescue vessel range that has been specifically designed as a multi-role standby vessel for rough conditions surrounding oil rigs that are present in the North Sea. It has capabilities for rescue operations in addition to cleaning up pollution of more than 1300 cubic meters at a time.
In addition, Balenciaga Shipyard’s F – class emergency response and rescue vessel for the Craig group has a single hull for fast rescue and is designed to carry cargo such as deck cargo, fuel, and freshwater. It also has electric-hydraulic cranes with a 2-ton capacity, a dynamic positioning system, a differential positioning system, dispersal spray booms and searchlights.
These new developments are expected to drive the growth of the emergency response and rescue vessels market.
Key Benefits of the Report
- This study presents the analytical depiction of the emergency response and rescue vessels market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the emergency response and rescue vessels market.
- The current market is quantitatively analyzed to highlight the emergency response and rescue vessels market growth scenario.
- The report provides detailed emergency response and rescue vessels market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Report
- Which are the leading market players active in the emergency response and rescue vessels market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the emergency response and rescue vessels market?
- What are the projections for the future that would help in taking further strategic steps?
Emergency Response and Rescue Vessels Market Report Highlights
Key Market Players
Eastern Shipbuilding, Damen Shipyards Group, Siem Offshore, Shipyard De Hoop, Galliano Marine Service, Green Yard Kleven, Solstad Offshore ASA, OFFSHORE SHIP DESIGNERS, Tidewater Inc, Nam Cheong Limited