Offshore Supply Vessels 2023 Forecast Market Leading Key Players: Tidewater, GulfMark Offshore Inc., Havila Shipping, and Vroon B.V., Edison Chouest Offshore

Market Overview:

Offshore Supply Vessels, one of the crucial aspects for the offshore O&G platforms are basically ships that precisely serve operational purposes such as installation of rigs systems, O&G exploration and storage. These Vessels are perceiving an augmented demand worldwide attributing to the rising oil & gas exploration activities around the globe. Simultaneously, ever rising high demand for crude oil is fostering the growth of Offshore Supply Vessels market. Moreover, constant development of offshore reserves and rising deep water production influence the growth of the global offshore drilling market positively. Owing to all these factors; the market of Offshore Supply Vessels is garnering an extensive demand on the global platform growing enormously.

The global offshore support vessel market is projected to reach USD ~25.0 billion by 2023 at a CAGR of more than ~5.0% during the forecast period. Deep-water and ultra-deep water exploration activities in Middle East in Europe increased, helping the global offshore support vessel market, grow.

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Offshore Supply Vessels Market - Competitive Analysis

The market appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The key players also focus on the design and installation engineering of equipment for offshore vessels. They involve in various specialist markets such as crane vessels, dredgers, semi-submersibles, offshore construction and supply vessels, offshore platforms and FPSO’s to acquire an in-depth knowledge of customer processes. However their core focus remains on Offshore Patrol Vessels, Landing Platform Docks, Mine Counter-Measure Vessels and submarines.

Industry/ Innovation/Related News:

January 11, 2018 – Statoil, the Norwegian energy company, announced that by May 2018 the company will send a vessel to survey a triangular slice of federal waters about 15 miles south of Long Island, where the company is planning to construct a wind farm that could generate up to 1.5 gigawatts of electricity for New York City and Long Island.

December 25, 2017 – Norway announces the first commercial runs of unmanned vessels scheduled worldwide. The Sail Bots race similarly challenges scholarly robotic-vessel designers to North America for a bit of station-keeping, collision-avoidance and "cargo moves". Maritime Robotics (Trondheim) builder of these unmanned surface vessels along with Seabed Geosolutions introduced the first USV for infield seismic surveys.

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Worldwide Offshore Supply Vessels Market – Segments

The Global Offshore Supply Vessels Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

By Type : Comprises Anchor Handling Tug Supply, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel and other.

By Depth/Process : Shallow Water, Deep Water.

By Regions : North America, Europe, APAC and Rest of the World.

Industry Top Key Players:-

The major key player in global offshore support vessel market are Maersk (Denmark), Siem Offshore AS (Norway), SEACOR Marine (U.S.), Tidewater (U.S.), GulfMark Offshore Inc. (U.S.), Havila Shipping (Norway), and 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), and Bourbon Offshore (France) are among others who are highly capable to serve the best in the industry.

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Global Offshore Support Vessel Market Analysis:-

Based on type, the market has been segmented as Anchor Handling Tug Supply Vessel, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel, Standby & Rescue Vessel and seismic vessel. Among them, Anchor Handling Tug Supply Vessel is estimated to have high growth and the largest market share in forecast period as it holds various functions together such as mooring chain of drilling rigs, positioning of site, towing of rigs, and other supply duties as and when required. Anchor Handling requires high power, deck space aft, winch capacity and other auxiliary handling equipment.

The global offshore support vessel is expected to grow at USD ~25.0 billion by 2023 with a CAGR of more than ~5.0% in the forecast period because of rise in oil and gas demand, across the world, and an increase in offshore exploration and drilling activities. Additionally, companies involved in this give the highest importance to R&D to ensure better operational efficiency because of growing fleet competitors in market.

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Based on region, North America is the largest market share as there are large untapped resources and a high number of rig count of ~200, followed by Asia Pacific, which includes countries such as China and India. The future seems secure for offshore support vessel as India consists more than ~200 fleet and this count is increasing as these countries are tying up with other foreign flagged vessel for fulfilment of the demand.

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