Offshore Supply Vessel (OSV) Market Is Thriving Worldwide During The Forecast Period 2023-2030
Offshore Supply Vessel (OSV) Market
Who is the largest manufacturers of Offshore Supply Vessel (OSV) Market worldwide?
Edison Chouest
Tidewater
Bourbon Offshore
DOF
Swires
Maersk Supply Service
Farstad Shipping
Hornbeck
Cosl
Island Offshore Management
Gulf Mark
Havila Shipping
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Short Description About Offshore Supply Vessel (OSV) Market:
The Global Offshore Supply Vessel (OSV) market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. In 2022, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Offshore Supply Vessel (OSV) is a sea motor vessel used for transmitting cargos, goods, supplies, crews, and offshore exploration and production equipment across oil platforms. OSV supports marine offshore drilling activities through the transportation of offshore energy resources, and it also facilitates oil rigs installation process. It is mostly used by oil and gas companies for exploration and production (E&P) activities. OSV is operated by ship owners or by companies that take OSV on lease. In addition, OSV facilitates the maritime logistics operation for various other industries such as Subsea and Deep Water Mining.
Deepwater production and exploration activities and investments by emerging economies in offshore exploration will drive the offshore support vessel market.
Oil & gas exploration and production activities are being carried out, both onshore and offshore, worldwide. The offshore oilfield business consists of the survey, exploration, construction, production, maintenance, upgradation of production facilities, and decommissioning. The activities at various stages of the oilfield lifecycle require different types of specialized offshore support vessels (OSV), which are suited for the project needs.
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The offshore supply vessel market has been segmented into vessel type, depth, and region. The market has been further segmented, by vessel type; into anchor handling tug supply vessels, platform supply vessels (PSV), multipurpose support vessels (MPSV), and standby and rescue vessels, crew vessels, chase vessels, seismic vessels, and others. The AHTS vessels segment accounted for the largest share, 45% of the market in 2017, AHTS vessels are principal support vessels used for towing, anchoring, and supplying equipment to drilling rigs and production platforms, making them the largest segment of the Offshore Support Vessel Market. Demand for offshore drilling is projected to recover slowly, particularly in deepwater fields as oil prices stabilize, thus, helping the AHTS market.
On the basis of depth, the market has been segmented into shallow water and deepwater segments. The application of offshore support vessels in shallow water projects is estimated to lead the market, in terms of market value share of 70.7% in 2017. The shallow water basins in the Middle East, Asia-Pacific, Europe, and North America will play a major role in driving the Offshore Support Vessel Market. Shallow water operations are typically less expensive compared to deepwater operations. Thus, recovering oil prices will lead to a faster increase in offshore activity in shallow water basins compared to deepwater ones.
The OSV market is less concentrated, various enterprises have invested in fleet expansion, so as to replace older vessels, and enhance their position in global market. Key players in offshore support vessel market include Edison Chouest, Tidewater, Bourbon Offshore, DOF, Swires, Maersk Supply Service, Farstad Shipping, Hornbeck, Cosl, Island Offshore Management, Gulf Mark and Havila Shipping.
Market Analysis and Insights: Global Offshore Supply Vessel (OSV) Market
The global Offshore Supply Vessel (OSV) market is valued at USD 18280 million in 2019. The market size will reach USD 31940 million by the end of 2026, growing at a CAGR of 8.2% during 2021-2026.
Global Offshore Supply Vessel (OSV) Scope and Segment
Offshore Supply Vessel (OSV) market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Offshore Supply Vessel (OSV) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2016-2027.
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What are the factors driving the growth of the Offshore Supply Vessel (OSV) Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Offshore Supply Vessel (OSV)
Shallow Water
Deep Water
What are the types of Offshore Supply Vessel (OSV) available in the Market?
Based on Product Types the Market is categorized into Below types that held the largest Offshore Supply Vessel (OSV) market share In 2022.
Anchor Handling Tug Supply
Platform Supply Vessel
Multipurpose Support Vessel
Standby & Rescue Vessel
Others
Which regions are leading the Offshore Supply Vessel (OSV) Market?
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Sambit Kumar
360 Research Reports
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