Offshore Supply Vessel Market Overview:
Market Research Future has assessed in its report that the offshore supply vessel market is predicted to attain USD 25.0 bn by the conclusion of 2023. The market is expected to develop at a CAGR of more than 5.0% throughout the forecast period.
Offshore support vessels refer to a class of carriers that primarily serve operational purposes such as task related to oil exploration at offshore and construction work at site, which not only aids in exploration, drilling, and production of resources but for backing all the activities associated with excavation and construction situated at offshore. These vessels also extend the relieving and transfer of crew member at site as and when necessary. They’re primarily grouped in drilling vessel and oil exploration, special purpose vessel, and offshore support vessel. Over the last decade, the offshore vertical has expanded considerably, which paved way for the rising demand of offshore support vessel for conducting the operations necessary for moor, fix platforms or drilling rigs.
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Ultra-deep water and deep-water exploration operations in the Middle East and in Europe achieved new heights, assisting the worldwide offshore support vessel market to experience accelerated growth rates. The primary drivers of the global offshore support vessels market include the progress of technology, improved trade policies, surging regasification terminals at offshore owing to the growing LNG demand, burgeoning growth in Asian countries, coupled with the spurring outlays in renewable and oil and gas sector globally. Augmenting operational efficacy is the key challenge that operators require to work upon. Although, regulatory bodies are also reviewing the device safety regulation and expand focus on safe functioning of offshore vessel.
Leading Players:
- Siem Offshore AS (Norway),
- Maersk (Denmark),
- Tidewater (U.S.),
- SEACOR Marine (U.S.),
- Havila Shipping (Norway),
- Vroon B.V. (Netherlands),
- GulfMark Offshore Inc. (U.S.),
- Edison Chouest Offshore (U.S.),
- Swire Pacific Offshore Operations (Pte) Ltd (Singapore),
- Solstad Farstad (Norway),
- Bourbon Offshore (France), and
- Abdon Callais Offshore LLC (U.S.).
Global Offshore Supply Vessel Industry Segmentation:
The worldwide offshore support vessel market has been divided based on type, application, and region.
Based on type the global offshore supply vessel market has been segregated into anchor handling tug supply vessel, multipurpose support vessel, platform supply vessel, standby & rescue vessel, seismic vessel, and standby & rescue vessel. Out of these sub segments, anchor handling tug supply vessel is anticipated to witness augmenting growth. It represents the largest support vessels market share during the forecast period since it embraces several functions together such as positioning of site, mooring chain of drilling rigs, other supply duties, and towing of rigs, as and when necessary. Anchor handling deals in deck space aft, winch capacity, high power, and other secondary handling devices.
On the basis of application, the global offshore supply vessel market is segmented into deep water and shallow water vessels.
Regional Analysis
Market Research Future has further studied the global offshore supply vessel market on the basis of regions. Geographically, the global offshore supply vessel market is segmented into Asia Pacific, North America, South America, Africa, and the Middle East.
Out of these regions, North America is estimated to hold the largest share of offshore supply vessels market as there are huge untapped resources and an increased number of rig count of almost 200. The North America is followed by followed by Asia Pacific. APAC includes economies like India and China. The future seems certainly secured for offshore support vessel in the APAC market since India comprises more than 200 fleet and this number is up surging gradually with the numerous tie ups taking place with other foreign flagged vessel for meeting the rising demand.
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