Global Offshore Support Vessel Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global offshore support vessel market in its upcoming report titled, “Global Offshore Support Vessel Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global offshore support vessel market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global offshore support vessel market report has been segmented on the basis of type, depth, and region.

Request Covid - 19 Impact

Offshore support vessel is a ship specially designed to supply offshore oil and gas platforms. Offshore support vessels range from 50 to 100 meters in length and are used for various tasks such as transportation of goods, tools, equipment, and personnel to and from offshore oil platforms and other offshore structures. Depending on operation performed by offshore support vessels they are categorized in different types such as seismic survey ships, platform supply vessels (PSV), anchor handling tugs, anchor handling tug and supply vessels (AHTS), offshore construction vessels (OCV), remotely operated underwater vehicle (ROV) support vessels, dive support vessels, stand-by vessels, and maintenance and repair vessels (IMR).

Increasing deep water oil and gas exploration and production (E&P) activities across the globe is a key factor driving growth of the global offshore support vessel market. In addition, rising demand for fuel and energy across the globe and advancements in offshore support vessels such as capability to deal with hash environments and adoption of better tracking equipment are other factors expected to fuel growth of the global offshore support vessel market over the forecast period.

However, increasing adoption of renewable energy sources and stringent environmental guidelines on fossil fuel usage and extraction activities are key factors restraining growth of the global offshore support vessel market. Additionally, high costs associated with use and maintenance of offshore support vessels is another factor expected to hamper growth of the global offshore support vessel market over the forecast period.

The market in North America is expected to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. This dominance can be attributed to presence of large ongoing deep water drilling projects is countries in the region. The market in Asia Pacific is expected to register significant growth in the target market over the forecast period, owing to growing offshore exploration and production activities (E&P) in emerging economies such as China and India. Also, market in Middle East is expected to register moderate growth over the forecast period, owing to presence of untapped offshore oil reserves in the region.

Global offshore support vessel market segmentation:

By Type:

• Anchor handling tug supply vessels
• Platform supply vessels
• Seismic vessels
• Offshore construction vessels
• Others (ROV support vessels, dive support vessels, stand-by vessels, and maintenance and repair vessels)

By Depth:

• Shallow water
• Deepwater

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa