Offshore Supply Vessel Market 2018-2023: Recent Trends and Growth Opportunities | Profiling Players Maersk, Siem Offshore AS, SEACOR Marine, Tidewater, GulfMark Offshore, Havila Shipping and Vroon B.V.

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. 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.

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Prominent 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.

Segmental Analysis:

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.

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.

January 03, 2018 - Royal IHC (Netherlands), a global supplier of innovative and efficient offshore supply vessels announced that it together with Oceanteam ASA (Norway), a global offshore service provider; executed a signing protocol under the terms of which IHC will acquire all of the outstanding share capital of Oceanteam's Dutch based engineering and consultancy company ‘KCI’ the Engineers B.V. subject to certain conditions precedent through an agreed Sale and Purchase Agreement.

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.

October 31, 2017 – OOS International (Netherlands) a global provider of high quality, cost-efficient customized offshore construction support including supply vessels announced the official new release of Offshore Insights(developed program), providing major updates to the program. The 1.0 version of this release offers users new features and an improved performance. Offshore Insights is designed to help governments, shipyards, insurance companies, environmental institutions, NOC’s, IOC’s and other users improve their operations and collaboration on projects worldwide.

Regional Analysis:

Asia pacific is one of the leading region for growth in offshore development. Geographical factors has fuelled the growth in offshore market. Moreover, China, Thailand, India, Malaysia, and Indonesia are mainly driving the growth of the offshore support vessel market in the APAC region. Additionally, equipped with increased cargo capacity, panoramic navigation bridge visibility, large accommodation spaces, enhanced crew amenities and automation system are booming the market in Asia pacific.
The increase in global oil & gas production from North America and the Middle East has shifted the focus of operators towards offshore markets. Secondly, liberalization of the Mexican oil & gas industry is another key driver fuelling the demand for offshore supply vessels.

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