Press release
Global Offshore Support Vessels Market to experience hike in growth by 2024
The ships that are designed and used for the transportation of liquid cargo, stores, materials and equipment, and personnel to offshore oil platform that functions deep in the oceans are known as offshore support vessels. Services included in these vessels are offshore pipe laying, drilling rigs, and oil production platforms used in the exploration and production activities. These vessels are used in a variety of tasks in the supply chain. These vessels are fundamental components in the industry of oil & gas. The offshore support vessels differ in properties and functions according to the type of operation.
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Owing to the rising offshore exploration and production activities, the global offshore support vessels market is anticipated to witness considerable growth in the near future. In addition, the increasing capital expenditure on offshore oil exploration will also positively impact the offshore developments. Furthermore, the growth of the global market is also supported by supported by increasing demand for oil & gas globally. High maintenance and replacement costs, government regulations, and environmental effects are few factors hindering the growth of the market.
On the basis of vessel type, the global offshore support vessels market is segmented as anchor handling tug supply (AHTS), platform supply vessel (PSV), multipurpose support vessel (MPSV), standby and rescue vessel, crew vessel, others. The others segment is further sub-segmented as diving support vessels, remote operating vessels (ROV) support, cable & pipe laying vessels, seismic survey vessels, well stimulation vessel, and fast supply intervention Vessels (FSIV). Of which, anchor handling, towing and supply (AHTS), and platform supply vessel (PSV) segments are expected to dominate the global market in the near future. Based on the depth, the global market is further segmented as shallow water and deepwater. Geographically, the global market is segmented as North America, South America, Asia-Pacific, Middle East, Europe, West & South Africa, and Rest of the World.
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North America is expected to witness a considerable growth in the near future. Following North America, Middle East is anticipated to be one of the leading markets of offshore support vessels in future. Asia Pacific is also expected to experience the highest growth of the global market owing to the increasing demand for oil & gas and increased exploration activities in the Southeast Asia. Other factors such as increased demand for an offshore rig, marine logistics, and others are also anticipated to impact the global market in a positive way.
Major players in the global offshore support vessels market are Abdon Callais Offshore, Edison Chouest Offshore, Havila Shipping ASA, Gulfmark Offshore Inc., and Farstad Shipping ASA. Other players influencing the global market are Bourbon Offshore Marine Services, Island Offshore Management AS, Vallianz Holdings Limited, Harvey Gulf, Abdon Callais, Home back, Swire Pacific, and Zamil Co.
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Offshore Support Vessels Market by Regional Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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