Offshore Supply Vessel (OSV) Industry 2019
Market Overview:
Offshore supply vessel (OSV) is a motor vessel used in the sea for carrying goods, cargo, crew, and offshore exploration and production equipment across different oil platforms. OSV is also used for transporting offshore energy resources during offshore marine drilling. Oil and gas companies are increasingly using OSVs for carrying out exploration and production activities. Therefore, the demand for these vessels has been on the rise and is expected to grow at a CAGR of 8.2% during 2019-2025.
Many top OSV companies are frequently investing in research and development for introducing something new. They are also targeting acquisitions and product expansions to strengthen their position in the market. These factors are fueling the offshore supply vessels market in many regions. The use of OSV in maritime logistics operations for different industries such as deep-water mining and subsea is also driving the global OSV market.
Market Segment by top osv companies, this report covers
Edison Chouest
Tidewater
Bourbon Offshore
DOF
Swires
Maersk Supply Service
Farstad Shipping
Hornbeck
Cosl
Island Offshore Management
Gulf Mark
Havila Shipping
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There is an increasing demand for high-capacity and LNG-fueled OSVs. These vessels have high propeller efficiency, better engine capacity, large below-deck space, high bollard pull, helipad space, high cargo load capacity, and more. The remote deep-water activities are expected to grow in the coming years. Therefore, the demand for high-capacity vessels should also increase over the forecast period. As per reports, the global offshore supply vessel market is projected to grow from US$ 15500 million in 2018 to US$ 29100 million in 2025.
Offshore Vessel Market Segmentation:
The global offshore supply vessel market is divided into vessel types and applications.
Based on vessel types, the market is bifurcated into anchor handling tug supply vessels, platform supply vessels, multipurpose support vessels, standby and rescue vessels, crew vessels, chase vessels and others. Anchor handling tug supply (AHTS) is expected to grow at the fastest rate over the forecast period. AHTS vessels are increasingly being used for anchoring, towing, and supplying equipment to drilling and production platforms.
Based on applications, the market is bifurcated into shallow water and deep-water. The use of OSV in shallow water projects is likely to lead the global market. Shallow water operations are usually less expensive when compared to deep-water operations.
Regional Analysis:
The five main regions considered for analyzing the global offshore supply vessel market are North America (The United States, Canada and Mexico), Europe (France, Germany, Italy UK, Russia, Spain and rest of the region), Asia-Pacific (India, China, Japan, Indonesia, South Korea, Australia, Singapore, Vietnam and rest of the region), Central and South America (Argentina, Brazil, Columbia and rest of the region), and the Middle East and Africa (UAE, Egypt, Turkey, South Africa, Nigeria and Saudi Arabia).
North America is the main region for OSV and the market is expected to grow further over the forecast period. Asia-Pacific is also an important and lucrative region. Geographical factors, increased cargo capacity, enhanced crew amenities, automation system, and large accommodation spaces are fueling the market in this region. South America OSV market is expected to advance at a notable rate over the forecast period. The important factors driving the market in this region are the presence of rich unexplored hydrocarbon reserves and an increase in offshore drilling activities.
Industry News:
The offshore support vessel market is flourishing in India with 200 fleets. The country’s tie-up with other foreign-flagged vessels to meet the augmenting demand will increase the fleet count further in the coming years.
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Table of Contents –Analysis of Key Points
1 Offshore Supply Vessel (OSV) Market Overview
2 Manufacturers Profiles
3 Global Offshore Supply Vessel (OSV) Market Competition, by Players
4 Global Offshore Supply Vessel (OSV) Market Size by Regions
5 North America Offshore Supply Vessel (OSV) Revenue by Countries
6 Europe Offshore Supply Vessel (OSV) Revenue by Countries
7 Asia-Pacific Offshore Supply Vessel (OSV) Revenue by Countries
8 South America Offshore Supply Vessel (OSV) Revenue by Countries
9 Middle East and Africa Revenue Offshore Supply Vessel (OSV) by Countries
10 Global Offshore Supply Vessel (OSV) Market Segment by Type
11 Global Offshore Supply Vessel (OSV) Market Segment by Application
12 Global Offshore Supply Vessel (OSV) Market Size Forecast (2019-2024)
13 Research Findings and Conclusion
14 Appendix
List of Tables and Figures
Continue…..
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