Offshore Support Vessels Market by Vessel Type (Anchor Handling Tug Supply (AHTS), Platform Supply Vessel (PSV), Multipurpose Support Vessel (MPSV), Standby and Rescue Vessel, Crew Vessel, and Others), by Depth (Shallow Water and Deepwater), and by End-User (Oil & Gas and Offshore Wind): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Global offshore support vessels market expected to generate revenue of around USD 26.80 billion by the end of 2024, growing at a CAGR of around 5.02% between 2018 and 2024. The offshore support vessels are expected to experience tremendous growth in recent years and would witness a shift from diesel-mechanical to the diesel-electric propulsion technology.

25-Sep-2018 | Number of pages: 110 | Report Code: ZMR-198 | Report Format : | Status : Published

Analysis

Offshore vessels are ships that serve an exclusively operational purpose such as oil exploration and construction work at high seas. There are various offshore vessels, which help in the examination and drilling of oil and also provide necessary supplies to the excavation and construction facilities located on the high seas. Offshore ships provide transition and relieve crew staff from the operational areas of high seas, as and when required. Offshore vessels provide required workforce and technical reinforcement so that the operational processes continue efficiently in the high seas without any disruption. Such vessels are known as offshore support vessels. Over the recent years, the offshore oil and gas industries are experiencing significant growth, which is expected to upsurge demand for the offshore support vessels (OSVs) to carry out various operations essential for suspended drilling rigs and moored or fixed production platforms. 
   
The ever-increasing demand to explore and properly harness the potential that high seas offer to provide huge growth in the need and demand for the offshore ships. The ships designed and used for the transportation purpose of materials, stores, liquid cargo, equipment and personnel to the offshore oil platform which functions deep in the oceans are known as offshore support vessels. Services offered by the offshore support vessels include drilling rigs; offshore pipe laying and oil production platforms used in the exploration and production activities. These vessels are used in the supply chain for various tasks. These vessels are essential components for oil & gas industries. The offshore support vessels vary in the properties and functions as per the type of operation. The advantages of technological research and suitable developments, the offshore vessels across the world portray the huge strides used in the maritime sector. 

Global Offshore Support Vessels Market

Based on vessel type, the offshore support vessels market is segmented into Platform Supply Vessel (PSV), Standby and Rescue Vessel, Anchor Handling Tug Supply (AHTS), Multipurpose Support Vessel (MPSV), crew vessel, and others. Based on depth, the market is segmented into shallow water and deep water. On the basis of end-user, the market is segmented as oil & gas and offshore wind. 
 
The Asia Pacific is expected to account for a highest market share in the global offshore support vessels market in 2017 and the region is likely to grow at significant growth rate over the forecast timeframe. Growing demand for energy security using offshore oil & gas field development is expected to drive industry growth in the Asia Pacific region. Steady oil prices led to oil & gas operators with rising exploration and production expenditure in the Chinese offshore market. The offshore support vessels in the Middle East and North America regions are also projected to grow over the forecast period owing to the increased focus on mounting offshore reserves to replace mature onshore fields.  
  
Some of the key players operating in offshore support vessels market include Edison Chouest Offshore, Havila Shipping ASA, Abdon Callais Offshore, Swire Pacific, Gulfmark Offshore Inc., Harvey Gulf, Bourbon Offshore Marine Services, Island Offshore Management AS, Zamil Co., Farstad Shipping ASA, Vallianz Holdings Limited and Abdon Callais, and Homebeck.   


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