Offshore Support Vessels Market Projected to Reach USD 14.6 Billion, With CAGR of 5.11% by 2030
Research Reports
Sep 08, 2023
Market Research Future Insights
According to MRFR analysis, the global Offshore Support Vessels market is expected to register a CAGR of ~5.11% from 2023 to 2030 and hold a value of over USD 14.6 Billion by 2030.
Offshore support vessels (OSVs) are ships used to support offshore oil and gas exploration, production, and drilling activities. These vessels can provide a wide range of services, including transportation of supplies and personnel, maintenance and repair of offshore facilities, and supply of equipment and materials. The COVID-19 pandemic has had a significant impact on the offshore support vessels (OSVs) market. The global lockdown measures and reduced economic activity have led to a decrease in demand for oil and gas, which has resulted in lower oil prices and reduced investment in the sector.
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This has led to a slowdown in offshore exploration, production, and drilling activities, reducing demand for OSVs. Additionally, the pandemic has caused disruptions to global trade and supply chains, leading to delays in the delivery of new vessels and the maintenance of existing ones.
Key Players
- Maersk (Denmark)
- Siem Offshore AS (Norway)
- SEACOR Marine (U.S.)
- Tidewater (U.S.)
- GulfMark Offshore Inc. (U.S.)
- Havila Shipping (Norway)
- Vroon B.V. (Netherlands)
- Swire Pacific Offshore Operations (Pte) Ltd (Singapore)
- Edison Chouest Offshore (U.S.)
- Abdon Callais Offshore LLC (U.S.)
- Solstad Farstad (Norway)
- Bourbon Offshore (France)
Regional Analysis
North America is a major player in the offshore support vessels market and is a leading supplier of these vessels globally. The region is home to some of the world’s largest and most advanced shipbuilding and marine engineering industries and has a long history of innovation and expertise in the sector. North America is also home to several large offshore oil and gas-producing countries, which drive demand for offshore support vessels.
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Market Segmentation
The Global Offshore Support Vessels market has been segmented into type and application.
Based on the type, the market has been segmented into Anchor Handling Tug Supply, Platform Supply, Multipurpose Support, Standby & Rescue, And Seismic.
Based on the application, the market has been segmented into Shallow Water And Deepwater.
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