Global Offshore Support Vessel Market Analysis on Farstad, Swire, Tidewater, Gulfmark, Hornbeck, Havila Shipping, Maersk, REM Maritime

Offshore Support Vessel Market Driven by the exponential rate of residential and nonresidential building construction across myriad geographies, due to the economic revival of the developed countries and a worldwide rise in population, Offshore Support Vessel market is expected to register massive gains in the ensuing years.

Global Offshore Support Vessel Market will exceed USD 60 billion by 2024, U.S. offshore support vessel market is predicted to witness strong growth on account of mature industry and low-risk investment region. Availability of resources across untapped fields along with large ongoing projects will supplement the product demand. A manned tripod structure with a capacity of 5 million cubic feet of gas per day and 4,500 barrels of oil per day is planned to be installed in the U.S. Gulf of Mexico by end of 2017.

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Rising demand for floating production units and drillships will foster the platform supply vessel market growth. Growing installation of FPSOs and FLNG platforms on account of its large production and storage capacity will complement the industry outlook. In 2016, Petronas' first FLNG unit commenced its operation with a processing capacity of 1.2 mtpa at the Kanowit deep-water field in Malaysia.

Report Mainly focuses on the top Manufacturers in global market are given bellow

Bourbon, Seacor Marine, Farstad, Swire, Tidewater, Gulfmark, Hornbeck, Havila Shipping, Maersk, REM Maritime, Siem, Solstad, Vroon, Edison Chouset, Harvey Gulf and Island Offshore.

By Vessel (Anchor Handling Tug Supply (AHTS)

Platform Supply Vessel (PSV)

Fast Support vessel (FSV)

Multi-Purpose Supply Vessel (MPSV), Others)

By Water Depth (Shallow Water, Deep Water)

By Fuel (Fuel Oil, LNG)

Norway offshore support vessel market is predicted to surpass 400 OSV fleet by 2024. Strong orderbook of Norwegian shipyards to cater the O&G industry will positively influence the industry landscape. As per the U.S. Energy Information Administration, in 2016, 7% of global offshore oil production was originated from Norwegian fields.

Shifting trends towards ecofriendly hydrocarbons owing to rising environmental concerns will embellish the offshore support vessel market growth. Adoption of LNG as fuel by major fleet owners owing to government regulations toward reduction of marine emissions will stimulate the product demand. In 2015, IMO implemented a legislation that focusses toward reduction of NOx content in fuel to 0.5% for the fleets sailing in emission control areas.

Saudi Arabia offshore support vessel market is set to witness gain over 4% by 2024. Ongoing drilling activities along with new subsea E&P projects will augment the industry landscape. The country has several fields including Safaniya oil field that produces 1.1 to 1.5 million barrels per day and holds 13% of the world total offshore oil production.

Brazil in 2016, accounted for over 60% of the Latin America offshore support vessel market share. Predominant expansion of deep-water pre-salt projects along with positive outlook towards subsea E&P will embellish the industry outlook.

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Shifting trends toward exploration and production across subsea coupled with ongoing expansion of deep-water projects will drive the offshore support vessel market. Growing measures to untap the unexplored hydrocarbon reserves will further stimulate the business outlook. As per EIA, in 2016, Gulf of Mexico accounted for 16% of total U.S. crude production and 4.5% of dry natural gas production.

The above information is provided on a regional and country basis for the following:

• North America (U.S., Canada, Mexico)
o Europe (Germany, UK, Norway, Russia, France, Netherlands)
o Asia Pacific (China, India, Singapore, Malaysia, Australia, Saudi Arabia, UAE, Qatar, Iran)
o Latin America (Brazil, Panama)
o MEA (Nigeria, Egypt, Brazil)

Saudi Arabia offshore support vessel market is set to witness gain over 4% by 2024. Ongoing drilling activities along with new subsea E&P projects will augment the industry landscape. The country has several fields including Safaniya oil field that produces 1.1 to 1.5 million barrels per day and holds 13% of the world total offshore oil production.

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