In 2023, Norway dominated the European offshore activities vessel market with 55.41 thousand gross tonnage, accounting for the largest share. The UK followed at 31.93, while the Netherlands held 9.04. Germany showed a remarkable increase of 112.54%, though its share was just 2.06. Notably, Italy experienced a significant rise of 53.03%. Countries like Cyprus, France, and Ireland also grew, while Portugal and Lithuania faced declines. From a five-year perspective, Norway's and the UK's dominance has been consistent, while markets like Germany and Italy show emerging growth.
Future trends to watch include:
- The potential shift toward renewable energy sources could impact offshore exploration and vessel demands, especially in countries investing in wind energy, like Germany and the Netherlands.
- Technological advancements may increase the operational efficiency of offshore vessels, reducing the need for higher gross tonnage due to better-utilized capacity.
- Geopolitical factors and environmental regulations may further influence market dynamics and regional participation in offshore activities.
Top countries in Number of Offshore Activities Vessels Share by Country (Thousand Gross Tonnage)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Norway | 55.41 | 2023 | +5.15% | +3.65% | View data |
| 2 | 2 United Kingdom | 31.93 | 2023 | +1.35% | -2.03% | View data |
| 3 | 3 Netherlands | 9.04 | 2023 | +6.48% | +6.11% | View data |
| 4 | 4 Germany | 2.06 | 2023 | +12.84% | +112.54% | View data |
| 5 | 5 Italy | 0.93 | 2023 | +8.45% | +53.03% | View data |
| 6 | 6 Cyprus | 0.66 | 2023 | +17.46% | +0.8% | View data |
| 7 | 7 France | 0.54 | 2023 | +2.95% | +7.44% | View data |
| 8 | 8 Portugal | 0.14 | 2023 | +12.2% | -9.39% | View data |
| 9 | 9 Ireland | 0.13 | 2023 | +3.2% | +38.84% | View data |
| 10 | 10 Croatia | 0.052 | 2023 | -3.85% | -2.92% | View data |
