Emergency response and rescue vessels are increasingly seeing application in the defense, oil and gas, and marine sectors. Improvements in maneuverability, equipment and accessories useful for all kinds of situations is anticipated to boost the market through the forecast period.
Growing Demand in Gas Drilling and Offshore Oil Activities to Propel Emergency Response and Rescue Vessels Demand
Growing demand for emergency response and rescue vehicles in the ever expanding offshore oil and gas drilling industry is anticipated to be one of the primary factors driving the growth of the market in the upcoming years, owing to concerns over crew rescues and oil spill recoveries at rigs.
The growing industry of ship building for fishing and commercial purposes is also contributing to the growth of the emergency response and rescue vessels market. In addition, apart from applications in the military, marine tourism is also seeing a growth spurt in recent times, consequently building on a larger requirement for emergency response and rescue vessels.
The growing number of natural disasters (nearly by 4 times in the last 30 years) arising such as earthquakes and hurricanes are resulting in increasing amounts of loss in property and human life in recent years. This has created a massive increase in requirements for emergency response and rescue vessels by disaster response organizations worldwide, creating lucrative opportunities for market players.
Improvements in Material and Technology to Be Major Focus for Emergency Response and Rescue Vessels Market Players
Key market players including Wartsila, Ulstein Group ASA, Robert Allan Ltd, Damen Shipyards Group, Basaran Shipyard among others are emphasizing on performance enhancements through technological advancements to meet the demanding requirements of modern oil and gas rig rescue operations to attract business.
Growing Marine Industry to Help Asia Pacific Emergency Response and Rescue Vessels Market Grow
Since emergency response and rescue vehicles are increasingly seeing demand for marine and offshore operations, countries with longer coastlines such as Canada, Australia and Russia are expected to see high demand in the market.
Increasing investments in the oil and gas drilling and exploration sector of the Asia Pacific and the consequent rise of requirement for emergency response vehicles for safety purposes is anticipated to witness relatively greater rate of market growth in the region in the near future. The strong marine ship building sector in India and China is also anticipated to boost the emergency response and rescue vessels market in the region.
Stricter safety regulations for oil and gas drilling and exploration, along with growth in marine tourism activities in North America and Europe such as the Offshore Installations Regulations of 1992, and the EU Offshore Safety Directive is anticipated to positively contribute to the emergency response and rescue vessels market in the region.
Segmentation of the Global Emergency Response and Rescue Vessels Market
Emergency response and rescue vessels can be divided on the basis of applications and dimensions. On the basis of applications, emergency response and rescue vessels can be categorized into defense, marine, and offshore vehicles. On the basis of dimensions, emergency response and rescue vessels can be divided into Very Large (greater than 60 m), Large (between 48 – 60 m), and Medium (lesser than 48 m).
The report presented here about the emergency response and rescue vessels market provides assessments at regional and global levels to identify and use vital data that has been supported with detailed research on aspects such as latent market opportunities and competitive scenario.
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The report is compiled from of well-researched first-hand data on the global emergency response and rescue vessels market based on quantitative and qualitative aspects of market trends, market attractiveness, and economic factors extracted by interactions with prominent industry experts.
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