Press release
Offshore Support Vessel Services to Witness Steady 7.3% CAGR Growth, Surging from US$ 14.35 Billion in 2024 to US$ 29.03 Billion by 2034
Offshore Support Vessel Service Market
Offshore support vessel services are essential for smooth operation and functioning of any type of offshore installation and the individuals working there. Offshore support vessels can be employed for construction, material transfer, maintenance work, platform support, etc.
Growing population in the world at a fast pace is increasing the energy demand globally, which in turn is expected to benefit offshore support vessel service demand too. Intensive investments in the oil & gas sector to develop new offshore rigs and pipeline systems are foreseen to largely boost offshore support vessel service market growth in the long term.
Demand for offshore support vessel services in the offshore oil & gas sector is expected to grow at 6.2% CAGR during the next 10 years.
Increasing use of sophisticated technologies in ships, imposition of high safety regulations on offshore facilities, extensive use of offshore robotics, increasing investments in offshore energy ventures, and more salvage operations across the globe are some other offshore support vessel service market trends that may generate new opportunities for players in this segment in the future.
For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=9432
Key Takeaways from Market Study:
The offshore support vessel service market is estimated to reach a size of US$ 14.35 billion in 2024, driven by increasing offshore exploration and production activities across various regions.
By 2034, the market is projected to grow significantly to a valuation of US$ 29.03 billion, reflecting a robust CAGR of 7.3% over the forecast period due to rising investments in offshore oil and gas infrastructure.
The Japan offshore support vessel service market is expected to contribute US$ 1.2 billion in 2024, supported by expanding maritime operations and technological advancements in vessel services.
The demand for offshore support vessel services in China is anticipated to grow at an impressive CAGR of 7.5% from 2024 to 2034, fueled by increasing offshore energy projects and government initiatives for maritime industry expansion.
North America is expected to hold a substantial market share of 29.1% by 2034, driven by strong investments in offshore wind farms, oil and gas exploration, and advancements in vessel technology.
The civil and commercial segment of the offshore support vessel service market is set to experience a CAGR of 7.9% from 2024 to 2034, owing to the growing demand for support vessels in infrastructure development, offshore construction, and marine logistics.
Leading Players Driving Innovation in the Offshore Support Vessel Service Market:
VroonOffshore Services Pte Ltd.; A.P. Møller - Mærsk A/S; Bumi Armada Berhad; Swire Pacific Limited; Bourbon Corporation; Edison Chouest Offshore (Offshore Service Vessels L.L.C.); Falcon Energy Group; Tidewater Inc.; Seacor Holdings Inc.; SolstadFarstad ASA
Which Region to Target for Offshore Support Vessel Service Providers?
"High Demand for Renewable Energy in East Asian Countries"
Climate change and global warming awareness have led to a strong demand for renewable energy in East Asian nations, which is expected to generate the demand for offshore support vessel services in the coming years. China, Japan, and South Korea are all trying to shift towards renewable energy sources, and this is estimated to be advantageous for offshore support vessel service companies in the East Asian region during the study period and in the future.
Rising oil & gas exploration operations by players in China are also predicted to drive sales of offshore support vessels in the East Asian market in the future. Increased launches of new offshore wind projects in East Asian nations are also expected to drive offshore support vessel service demand during the next 10 years.
China is also estimated to cover approximately 57.3% of the East Asian offshore support vessel service market share by 2034.
Supportive government policies to enhance economic growth in China are expected to be instrumental in shaping offshore support vessel service demand in the nation in the next few years. South Korea is expected to emerge as a very promising nation in this region due to the presence of premier shipbuilding firms in the world and increasing shipbuilding activity in the nation.
Browse Full Report: https://www.factmr.com/report/offshore-support-vessel-service-market
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global offshore support vessel service market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the is segmented based on vessel type, service type, end-use industry, and region, catering to diverse operational needs across maritime sectors. By vessel type, the market includes Platform Supply Vessels (PSVs), Multirole Field & ROV Supply Vessels (MRSVs), Offshore Subsea Construction Vessels (OSCVs), Anchor Handling Tug Supply (AHTS) Vessels, Emergency Response & Rescue Vessels (ERRSVs), Chase & Seismic Vessels, Standby Crew Vessels, and other specialized vessels designed for offshore operations.
The market is further classified by service type, encompassing a wide range of offerings such as financial services, chartering & brokerage, consulting, technical services, repair & maintenance, inspection & survey, building & design, crew management, manpower supply, training & support, logistics & cargo management, anchor handling towage & offshore positioning, seismic support, assistance, salvage & pollution remediation, and subsea services, all of which ensure efficient offshore operations.
Based on end-use industry, the market serves key sectors including offshore oil & gas, military, civil & commercial, offshore wind, and other marine-based industries that rely on vessel support for critical functions. Geographically, the market spans North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa, with each region contributing uniquely to the growth of the offshore support vessel service sector through regional energy projects, defense needs, and commercial maritime activities.
Check out More Related Studies Published by Fact.MR Research:
Self-contained Breathing Apparatus (SCBA) Market - https://www.factmr.com/report/763/self-contained-breathing-apparatus-market
Arc Welding Equipment Market - https://www.factmr.com/report/arc-welding-equipment-market
Light Towers Market - https://www.factmr.com/report/2477/light-towers-market
Oil and Gas Gasket Market - https://www.factmr.com/report/3720/oil-and-gas-gaskets-market
Wind Turbine Drone Inspection Market - https://www.factmr.com/report/wind-turbine-drone-inspection-market
Electric Trolling Motor Market - https://www.factmr.com/report/4860/electric-trolling-motors-market
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Offshore Support Vessel Services to Witness Steady 7.3% CAGR Growth, Surging from US$ 14.35 Billion in 2024 to US$ 29.03 Billion by 2034 here
News-ID: 3945083 • Views: …
More Releases from Fact.MR Market Research
Undecylenic Acid Market Is Expected To Grow At A CAGR Of 4% During The Forecast …
Undecylenic acid, an unsaturated fatty acid derived from castor oil, is recognized for its antifungal properties. It is widely used in medical treatments for skin infections, as well as in the production of cosmetics and personal care products. The market is projected to witness higher single-digit growth globally during the forecast period, with regions like North America and Europe leading in volume, while the Middle East and Africa (MEA) are…
Whey Cheese Market to Reach USD 21.6 Billion by 2035 Amid Rising Demand for Func …
The global whey cheese market is witnessing remarkable growth, driven by increasing consumer preference for protein-rich, functional, and sustainable dairy products. According to recent research, the market is expected to reach USD 21.6 billion by 2035, up from USD 10.5 billion in 2024, marking a robust compound annual growth rate (CAGR) of 6.8% during the forecast period from 2025 to 2035.
Rising Demand for Functional and Protein-Rich Foods Fuels Market Expansion
The…
Enzyme-Enhanced Ingredients Market to Reach USD 11,657 Million by 2035, Driven b …
The global enzyme-enhanced ingredients market is poised for remarkable growth, with the industry projected to reach USD 11,657 million by 2035, up from USD 5,955 million in 2024. This expansion is expected to occur at a robust compound annual growth rate (CAGR) of 6.5% between 2025 and 2035.
The surge in demand is primarily driven by the rising adoption of enzyme-based solutions across food, beverage, and nutraceutical industries, alongside an…
Glycine Market Set to Reach USD 2,825.8 Million by 2035, Driven by Expanding App …
The global glycine market is poised for remarkable growth over the next decade, with market value projected to surge from USD 1,356.4 million in 2024 to USD 2,825.8 million by 2035.
During the forecast period from 2025 to 2035, the industry is expected to expand at a robust CAGR of 6.9%, reflecting the increasing demand for this versatile amino acid across multiple end-use sectors. Glycine, the simplest amino acid, is…
More Releases for Vessel
Pipelay Vessel Operater Market Size Analysis by Application, Type, and Region: F …
According to Market Research Intellect, the global Pipelay Vessel Operater market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The growing need for gas and oil worldwide, especially in offshore reserves, is driving the market for pipelay…
Global LNG Fuelled Vessel Market Size by Application, Type, and Geography: Forec …
According to Market Research Intellect, the global LNG Fuelled Vessel market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The LNG-fueled vessel market is experiencing significant growth due to the rising emphasis on environmental sustainability and stricter…
Vessel Tracker Market is Booming Worldwide | FleetMon, Shipfinder, Vessel Tracke …
The Latest Released Vessel Tracker - Top Players market study has evaluated the future growth potential of Vessel Tracker - Global and China Top Players market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing…
Vessel Traffic Management Market
According to the Market Statsville Group (MSG), the global Vessel Traffic Management Market size is expected to grow from USD 5,371.8 million in 2021 to USD 10,815.2 million by 2030, at a CAGR of 8.1% from 2022 to 2030.
Vessel traffic services (VTS) are shore-based systems that provide ships with information ranging from simple information messages, such as the position of other traffic or weather-related hazard alerts, to comprehensive traffic control…
Marine Gensets Market: Information by Vessel Type (Commercial Vessel, Defense Ve …
A marine genset is a power unit generator that supplies electricity to ships. It offers reliable and fuel-efficient electric power generation for onboard power, emergency gensets, and diesel-electric propulsion. It can be fueled by gas, diesel, hybrid fuel, and others. It has application in offshore commercial vessels, defense vessels, and offshore vessels, among others. Nowadays, most of the marine gensets are fueled by diesel. However, the introduction of alternative fuels…
Construction Vessel Market: Information by Type (Diving Support Vessel, Pipe Lay …
Construction vessels are specially designed ships used for transporting goods and personnel to the offshore construction sites. Usually, these ships are larger, ranging from 20 meters and 100 meters. They are used in constructing oil and gas platforms, wind farms, and subsea pipelines in deep oceans. Construction vessels are made to resist the harsh and fluctuating environmental conditions in the sea. Construction vessels are used for complex tasks as…
