The design, building, and upkeep of systems and structures utilized in maritime environments are the domains of marine engineering, sometimes referred to as offshore engineering. Underwater technology, marine propulsion systems, platform design, naval offshore architecture, and other disciplines are all included in this topic. Marine engineering has several uses in many different industries, especially in the offshore sector. It includes planning and building offshore constructions like wind farms, oil rigs, and pipeline underwaters. By helping to build cutting-edge propulsion systems for ships and offshore boats, marine engineers help to ensure safe navigation and effective cargo and passenger transit across seas and oceans. Furthermore, the field of marine engineering encompasses methods for environmental protection, such as the construction of environmentally-friendly, sustainable marine structures.
The capacity to produce renewable energy by using maritime resources. Marine engineers that design and manage offshore wind and wave energy systems provide sustainable fossil fuel substitutes that lower carbon emissions and provide energy more cleanly. Furthermore, marine engineering is essential to offshore oil and gas production and exploration because it makes it possible to use cutting-edge drilling and extraction techniques to retrieve profitable resources from beneath the seafloor.
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Baker Hughes Company (US), Cameron International Corporation (US), Shell (US),McDermott (US), Weatherford International (US), NOV Inc. (US), thyssenkrupp AG (Germany),Petrofac Limited (UK), TechnipFMC plc (UK), Fugro (Netherlands), Transocean Ltd (Switzerland), Kongsberg Maritime (Norway), Saipem (Italy), Worley (Australia), Keppel Corporation (Singapore), Mitsubishi Heavy Industries, Ltd (Japan), Yinson Holdings Berhad (Malaysia), Hyundai Heavy Industries Co., Ltd (South Korea), and Other Major Players.
Growing Need for Exploration and Drilling in Deepwater
The market for marine (offshore) engineering is expanding due in large part to the growing need for deepwater drilling and exploration activities. The desire to find and access fresh offshore oil and gas deposits in deeper waters is the main driver of this trend. Oil and gas corporations are shifting their attention to deeper seas for exploration and production as traditional deposits in shallow waters and on land grow more scarce.
Oil and gas are extracted through deepwater drilling from reservoirs hundreds of feet below the ocean's surface. To tackle the technical obstacles presented by severe marine environments, innovative drilling technology, specific engineering solutions, and complex offshore platforms are needed.
Segments Covered:By Type
- Mechanical Engineering
- Electronic Engineering
- Computer Science
- Electrical Engineering
By Application
- Oil Rigs
- Boats
- Ships
By End-User
- Oil & Gas
- Marine Construction
- Wind Energy
Growing Need for Maintenance and Decommissioning Services for Submarine Infrastructure
The market for marine (offshore) engineering has a lot of room to develop given the rising need for subsea infrastructure maintenance and decommissioning services. Maintaining and extending the operational life of subsea infrastructure, including pipelines, undersea platforms, and equipment, is becoming increasingly important as offshore oil and gas fields mature. In order to maintain the dependability, security, and effectiveness of offshore operations, marine engineers play a critical role in creating and executing novel subsea maintenance solutions.
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Developments in the Marine (Offshore) Engineering Market:
- In February 2023,Nov Launched a New Offshore Wind Service Vessel Concept As wind farms move farther offshore and in deeper waters, robust operations and maintenance strategies are required. Support vessels must be able to operate safely, effectively, and longer in increasingly challenging environments.
- In February 2024,McDermott was awarded two contracts from North Oil Company (NOC) to deliver engineering, procurement, construction, installation, and commissioning (EPCIC) for packages 11 and 13 of the Ruya Development Project, as part of the expansion of the Al-Shaheen field, Qatar's largest oil field.
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Table of Content
- INTRODUCTION
- RESEARCH OBJECTIVES
- RESEARCH METHODOLOGY
- RESEARCH PROCESS
- SCOPE AND COVERAGE
- Market Definition
- Key Questions Answered
- MARKET SEGMENTATION
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GROWTH OPPORTUNITIES BY SEGMENT
- MARKET LANDSCAPE
- PORTER'S FIVE FORCES ANALYSIS
- Bargaining Power Of Supplier
- Threat of New Entrants
- Threat of Substitutes
- Competitive Rivalry
- Bargaining Power Among Buyers
- INDUSTRY VALUE CHAIN ANALYSIS
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- Challenges
- MARKET TREND ANALYSIS
- REGULATORY LANDSCAPE
- PESTLE ANALYSIS
- PRICE TREND ANALYSIS
- PATENT ANALYSIS
- TECHNOLOGY EVALUATION
- MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
- Geopolitical Market Disruptions
- Supply Chain Disruptions
- Instability in Emerging Markets
- ECOSYSTEM
- PORTER'S FIVE FORCES ANALYSIS
- MARINE (OFFSHORE) ENGINEERING MARKET BY TYPE (2017-2032)
- MARINE (OFFSHORE) ENGINEERING MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- MECHANICAL ENGINEERING
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2017 – 2032F)
- Historic And Forecasted Market Size in Volume (2017 – 2032F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- ELECTRONIC ENGINEERING
- COMPUTER SCIENCE
- ELECTRICAL ENGINEERING
To Be Continued…
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