Due to the fact that fuel costs account for between 50% and 70% of the vessel's operating costs, it is essential to achieve high fuel efficiency. As a result, demand for fuel monitoring systems increased. Installing mass flow meters that show both the current consumption of fuel and the total consumption of fuel over time is how these monitoring systems function. A touch-screen display of these fuel consumption measurements makes it simple to see how much fuel is used.
Market Dynamics:
Presently, mechanical progressions in seaward help vessels are acquiring huge significance to address functional and ecological difficulties. Support vessels have enormous convenience space, expanded freight limit, improved group offices, and mechanization frameworks. In addition, support vessels are likewise intended to increment energy proficiency and decrease the generally ecological effect of waste from the vessel.
Standardization and notation services for offshore support vessels are provided by organizations like the American Bureau of Shipping (ABS). For vessels that are compatible with dynamic positioning systems and meet environmental protection standards, the notations are provided. Additionally, in accordance with the International Maritime Organization (IMO), ship vessels will be permitted to operate on a variety of fuel oils beginning in 2020 in order to meet predetermined limits.
Furthermore, fuel consumption and emissions have decreased as a result of support vessel technological advancements. In order to meet stringent emission requirements, vendors offer LNG-fueled support vessels, which both reduce operational costs and increase operational efficiency. For instance, Vik-Sandvik Design India (VSDI) is a full-fledged design house that provides end to end design services for marine and offshore industry. designed the LNG-powered platform support vessel Viking Energy in 2003.
Key features of the study:
- This report provides in-depth analysis of the Global Offshore Support Vessel On-board Fuel Monitoring System Market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the Global Offshore Support Vessel On-board Fuel Monitoring System Market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this are ABB, Ascenz Solutions Pte Ltd., Aquametro Oil & Marine AG, BOURBON, CMR Group, DNV GL, EMA Group (BlueTracker), Emerson Electric Co., Ian-Conrad Bergan, LLC (Bergan Blue), Insatech A/S, Krill Systems, Inc., KROHNE Messtechnik GmbH, Marorka Ehf., Nautical Control Solutions (FUELTRAX), Navis, Opsealog, Power Instruments Pte Ltd., Royston Limited, The Triscan Group, World Fuel Services Corporation, and Yxney Maritime AS. and Others
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The Global Offshore Support Vessel On-board Fuel Monitoring System Market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Offshore Support Vessel On-board Fuel Monitoring System Market
Detailed Segmentation:
- Global Offshore Support Vessel On-board Fuel Monitoring System Market, By Vessel Type
- Anchor Handling Towing and Supply Vessel (AHTS)Seismic Vessel
- Platform Supply Vessel (PSV)
- Well Intervention Vessel
- Diving Support Vessel (DSV)
- Inspection, Maintenance and Repair Vessel (IMR)
- Remote Operating Vessel (ROV)
- Others
- Global Offshore Support Vessel On-board Fuel Monitoring System Market, By Component
- Hardware
- Software
- Services
- Global Offshore Support Vessel On-board Fuel Monitoring System Market, By Application
- Data Analytics
- Performance Optimization
- Predictive Maintenance
- Global Offshore Support Vessel On-board Fuel Monitoring System Market, By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- ABB Ltd.
- Ascenz Solutions Pte Ltd.
- Aquametro Oil & Marine AG
- BOURBON
- CMR Group
- DNV GL
- EMA Group (BlueTracker)
- Emerson Electric Co.
- Ian-Conrad Bergan, LLC (Bergan Blue)
- Insatech A/S
- Krill Systems, Inc.
- KROHNE Messtechnik GmbH
- Marorka Ehf.
- Nautical Control Solutions (FUELTRAX)
- Navis
- Opsealog
- Power Instruments Pte Ltd
- Royston Limited
- The Triscan Group
- World Fuel Services Corporation
- Yxney Maritime AS.
