Global Offshore Support Vessels Market was valued US$ XX Mn. in 2019 and is expected to reach US$ XX Mn. by 2027.
Offshore Support vessels are sea motor vessels used for the transportation of goods, crews, and equipment for
offshore exploration and production activities. These vessels are operated by ship owners and are also deployed for subsea operations like inspection, diving support, and maintenance. They facilitate the maritime logistics operation, oil rigs installation process, and offshore drilling activities. They are equipped with small-sized boats, which respond to an emergency during offshore installations and provides various other services of anchor management and platform support.
The study of Global Offshore Support Vessels Market includes the market size, growth rate, and market share in different segments of the market. It has covered qualitative and quantitative analysis with comprehensive research methodologies to study the present market and predict future prospects. The report has analysed the impact of COVID- 19 on the market of Global Offshore Support Vessels Market.
Global Offshore Support Vessels Market Dynamics-
Increase in a number of offshore exploration and production activities is the driving factor for the growth of the offshore support vessels market. Exploration and production activities include the searching, exploring, drilling, and extraction phases of the oil and gas industry. With the increased demand for fuel and power generation, offshore exploration activities have increased. For these activities, the need for offshore support vessels has increased to transport the necessary manpower, supplies, and equipment for the proper continuation of drilling activities.
High maintenance cost and high operational risk associated with the use of offshore support vessels hamper the growth of the Global Offshore Support Vessels Market. The International Maritime Organization had made it compulsory for every vessel to be dry docked at scheduled interval to maintain the various components of vessel-like structures, hull, machinery, and other equipment are in operational conditions. The ship-owners have to build dock units for the maintenance and repair of the vessels.
The vessels used for deep and ultra-deep water operations are not capable of working in tough climatic conditions. This factor offers an opportunity for manufacturers to manufacture technologically advanced vessels to withstand such situations. DP vessel is an example of such a technologically advanced vessel, which enables it to work and adapt to any environmental conditions.
Global Offshore Support Vessels Market Segment analysis-
The report groups the Global Offshore Support Vessels Market in different segments by vessel type,by water depth, by end user, and by region to forecast the revenues and analyse the Market share of each segment over the forecast period.
Global Offshore Support Vessels Market
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By vessel type, the Anchor Handling Vessel was dominant in 2019 and is expected to command a market share of xx% by 2027. Anchor Handling Vessel provides tugging and towage services and is used for supplying cargo, water, fuel, and soil to oil rigs and platforms. They are also used during emergencies for fire fighting, rescue, and oil recovery operations.
By water depth, the Shallow Water segment is expected to lead the Global Offshore Support Vessels Market by 2027. Shallow water operation is less expensive as compared to deep-water operation. Presence of shallow water basins in APAC, Europe and North America is the driving factor for the growth of offshore support vessels market in the region.
By end-user, the oil and gas industry is expected to grow at xx% by 2027, which is the fastest among other sub-segments. The offshore oilfield business does the survey, exploration, construction, production, maintenance and up-gradation of production activities, which has increased the demand for offshore support vessels.
Global Offshore Support Vessels Market 1
Global Offshore Support Vessels Market Regional Insights-
Global Offshore Support Vessels Market 2
APAC is expected to command largest market share of xx% by 2027
Increase in number of oil and gas refineries because of the increasing need for energy and power generation are the main driving factors for offshore exploration and production activities. Developing and developed economies in APAC like China and India, because of increasing population, industrialization, and urbanization the need for energy and power has also increased, which is contributing to the growth of the number of oil gas refineries. Increasing deep and ultra-deep water hydrocarbon exploration activities in APAC are expected to boost the market demand in the region.
North America is expected to command market share of xx% by 2027
High oil prices and decreasing drilling cost have contributed to the offshore rig and oil production in North America. Increasing offshore wind activities in North America is increasing the need for construction, transportation, operation, maintenance, and other activities, which is expected to increase the use of offshore support vessels.
The objective of the report is to present a comprehensive analysis of the Global Offshore Support Vessels Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Offshore Support Vessels Market dynamics, structure by analyzing the market segments and project the Global Offshore Support Vessels Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Offshore Support Vessels Market make the report investor’s guide.
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Scope of the Global Offshore Support Vessels Market- Inquire before buying
Global Offshore Support Vessels Market, by vessel type
• Anchor Handling Vessel
• Tug Supply Vessel
• Platform Supply Vessel
• Multipurpose Support Vessel
• Crew Vessel
• Chase Vessel
• Seismic Vessel Standby
• Rescue Vessel
Global Offshore Support Vessels Market, by water depth
• Shallow Water
• Deep Water
Global Offshore Support Vessels Market, by end user
• Oil and Gas industry
• Offshore wind
• Research and Surveying
Global Offshore Support Vessels Market, by region
• North America
• Asia Pacific
• Middle East Africa
• South America
Key players operating in Global Offshore Support Vessels Market
• Gulfmark Offshore
• Hornbeck Offshore Services
• Maersk Oil
• Tidewater Marine
• Edison Chouest Offshore
• Hornbeck Offshore
• SolstadFarstad ASA
• Seacor Marine
• Nam Cheong International Ltd.
• Havila Shipping
• Seam Offshore
• Farstad Shipping
• Island Offshore Management
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