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COMMERCIAL DIVING SERVICES MARKET REPORT OVERVIEW
The global commercial diving services market size expanded rapidly in 2021 and will grow substantially by 2028, exhibiting a prodigious CAGR during the forecast period.
Commercial diving services are a vital aspect of assisting underwater infrastructure operations. Such diving is regarded as a sub-category of the professional type where the diver is engaged in underwater operations that have an industrial, construction, engineering, maintenance, or some other corporate purpose. Diving is only one part of what is being done on the surface. Industries that do the work underwater services, including conducting visual inspections and repairing assets under the sea, rely on all types of commercial assets. Professional divers are highly trained people who operate using their suited equipment to work properly and safely in the underwater zone.
COVID-19 Impact: Market Growth Restrained by Pandemic Due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The COVID-19 pandemic came with challenges and severe impacts on the entire market globally. The lockdown restrictions hampered the growth. Factories shut down and production slowed which harmed the market. There was reduced spending on non-essential products and services. All these factors slowed down the growth and expansion.
LATEST TRENDS
"Technological advancements to propel market growth"
There is the integration of ROVs (Remotely Operated Vehicles) and AUVs (Autonomous Underwater Vehicles) into diving operations. These operators take over many of the tasks which were earlier performed exclusively by a diver, to mitigate risks and expand missions into depths or dangerous places. Moreover, inventions of diving equipment that enhance the divers' comfort like communication systems, diving suits that provide better insulation, and tools for monitoring divers are leading to the safety of divers and increasing their productivity.
COMMERCIAL DIVING SERVICES MARKET SEGMENTATION
By Type
Based on the type, the market can be categorized into platform, pipeline and vessel inspection, subsea intervention, installation and construction, NDT and corrosion control, salvage and emergency response, hyperbaric welding, & others.
- Platform, Pipeline, and Vessel Inspection: Specially trained divers visually assess and use their dedicated tools to audit whether the offshore structures or underwater components are in a poor state due to either corrosion or damage.
- Subsea Intervention, Installation, and Construction: Diving is vital because divers perform tasks such as repairing equipment, installing subsea infrastructure, and installing offshore wind farms and other subsea projects underwater.
- NDT(Non-Destructive Testing) and Corrosion Control: Divers work with particular gears and methods to discover flaws, cracks, and corrosion levels underneath systems, which helps prevent any subsequent damage and uphold safety.
- Salvage and Emergency Response: Commercial divers assume a central part of operations in cases of sunken shipwrecks, loss of equipment, or environmental hazards calling for rampant application of their professionalism and fast action.
- Hyperbaric Welding: Divers do extreme welding in pressurized tanks or underwater settings which provide repair services for oil rigs, pipelines, and any structures that need to be repaired underwater.
By Application
Based on the application, the market can be categorized into defense, infrastructure, shipping, energy, and others.
- Defense: Divers examine military ships, piers, and structures at the bottom of seawater for damage, sabotage, and potential risks. They also can locate and recover equipment underwater.
- Infrastructure: Divers visualize different parts of bridges, dams, and other crucial infrastructure under the water to check out cracks, corrosion, and damage. They also do the port maintenance and cable installation to facilitate communication.
- Shipping: Divers are used regularly to inspect the hull of ships for any damage conveyed by collisions, groundings, or wear and tear. Then, divers are responsible for repairing these kinds of damage underwater.
- Energy: The collectors obtain information about sea bed conditions and can question potential equivalent dangers for placing offshore wind farms.
DIVING FACTORS
"Growth in offshore diving services to expand the market"
One of the key factors in the commercial diving services market growth is the growth in offshore diving services. It has revolutionized the market. Offshore diving is one of the most used branches of commercial diving, with experienced divers working in support of oil and gas exploration and production. The growth of these industries is governed by the overarching factor of demand increase for underwater construction, inspection, and maintenance of offshore platforms, pipelines, and wind turbines which results in a positive environment for such diving service providers. Dive equipment used for the offshore dive is usually surface-supplied equipment, however, it can be other types of diving equipment depending on the type of work and location.
"Safety measures by experienced divers to boost the demand"
A quality diver who does well can reason and solve problems and is disciplined in following the rules of the diving community. It is committed to being on top of the game with strict rules and regulations for the commercial diving industry, therefore safety precedes all other considerations. The responsibilities of a commercial diving team cover the development of health and safety plans, conducting predictive assessments and hazard mitigation strategies, and the risk-free completion of underwater operations.
RESTRAINING FACTOR
"High Costs to Impede Market Growth "
The high costs associated with these diving services is a major restraining factor that impedes the growth. Divers have to complete extensive training and certification that may lead to higher operational costs for those companies that offer diving services. Furthermore, the equipment and tools needed for underwater operating are very expensive, which in turn results in the increased costs of the project. Overcoming these challenges is very important to ensure limitless growth of the market.
COMMERCIAL DIVING SERVICES MARKET REGIONAL INSIGHTS
"Europe to Dominate the Market Due to the Growing Demand for Diving by Tourists"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Due to the growing demand for diving services by tourists, Europe has emerged as the most dominant region in the commercial diving services market share. The region can provide various resources which brings the opportunity to think of more opportunities to enlarge the business. Technological advancement is the root of this dominance, which makes the region independent in innovating and applying the latest innovations. The various companies and more advanced technologies of this region, further, add to the growth in this sector as well. As a result, Europe stands out as a key player, setting the standard for efficient and technologically advanced services on the global stage.
KEY INDUSTRY PLAYERS
"Key Players Provide Diverse Portfolio for Innovations"
Major industry players have a role in developing the market by offering a variety of products. These significant players revamp the industries' standards by providing a broad array of customers with new creative options. This is because these brands have the realm of global market attention and thus they will cater to the different customer needs of different markets. The inclusion of both revolutionary advances and a wide market base is what makes them stand out among the other brands.
List of Market Players Profiled
- Fugro (Netherlands)
- Cabo Diving Services (Mexico)
- Diving Services NZ (New Zealand)
- Franmarine (Australia)
- Belize Diving Services (Belize)
- Kew Diving Services (London)
- Oceaneering (U.S)
INDUSTRIAL DEVELOPMENT
September 2021: Commercial diving company Subsea Global Solutions announced the acquisition of SRN Group Diving. It also incorporated ROV Underwater Services (Belgium). With this acquisition, SGS expands to Europe, providing it with wide-scale operations and scope for innovation.
REPORT COVERAGE
This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global commercial diving services market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis considers recent trends and historical turning points, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.
This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies, and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.
Frequently Asked Questions
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Which is the leading region in the commercial diving services market?
The European region is the prime area for the commercial diving services market owing to the growing demand for diving services by tourists in the region.
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Which are the driving factors of the commercial diving services market?
Cost-efficient solutions that ensure affordability and benefits of a subscription are some of the driving factors in the commercial diving services market.
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What are the commercial diving services market segments?
The commercial diving services market segmentation that you should be aware of, which includes, based on type the market is classified as platform, pipeline and vessel inspection, subsea intervention, installation and construction, NDT and corrosion control, salvage and emergency response, hyperbaric welding, & others. Based on application the market is classified as defense, infrastructure, shipping, energy, and others.