World Offshore Support Vessels Market 2017-2023 - Market is Expected to Reach US$12.235 Billion

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20 Dec, 2017, 13:00 GMT

DUBLIN, Dec. 20, 2017 /PRNewswire/ --

The "Offshore Support Vessels Market - Industry Trends, Opportunities and Forecasts to 2023" report has been added to Research and Markets' offering.

The market for offshore support vessels is expected to reach US$12.235 billion by 2023, increasing from a projected market size of US$10.203 billion in 2018, growing at a CAGR of 3.70% during this period.

Offshore support vessels (OSVs) are cargo vessels that regularly transport equipment, supplies or goods to support offshore exploration or production activities. These vessels are either owned by companies that are specifically set up to own and operate such vessels or companies that combine with other vessel operations.

The market for offshore support vessels has witnessed high growth in recent years, driven by strong incline in exploration activities bolstered by increasing demand for oil attributable to increased industrialization and manufacturing activities and expanding urbanization. This has resulted in a higher demand for oil rigs, platforms and Floating, Production, Storage, and Offloading (FPSO) units.

A large part of OSVs market involves smaller and older vessels, especially in developing and emerging economies but in recent years there has been a shift towards high-end vessels, with cleaner designs, stronger winces, more bollard pull, and greater ROV capacity as these sophisticated vessels have a better ability to support complex operations in deep water. Certain factors that may restrain growth in the market are volatile steel and equipment prices and escalating costs of propulsion systems, double hulls, and more rigid crew comfort requirements.

Segmentation

By Depth

  • Shallow
  • Deep Water

By Vessel

  • Dive Support Vessels
  • Construction Support Vessels
  • Well Intervention Vessels
  • Platform Supply Vessels
  • Anchor Handling Tug Supply
  • Utility Vessels
  • Safety Standby Vessels
  • Accommodation Vessels
  • Others

By Geography

  • Americas
  • North America
  • South America
  • Europe Middle East and Africa
  • Europe
  • Middle East and Africa
  • Asia Pacific

Key industry players profiled as part of this section are Edison Chouest, GulfMark Offshore Inc.,Farstad Shipping ASA, and Bourbon SA among others.

Companies Mentioned

  • Edison Chouest
  • GulfMark Offshore Inc.
  • Farstad Shipping ASA
  • Bourbon SA
  • Siem Offshore Inc.
  • Havila Shipping ASA
  • Harvey Gulf International Marine, LLC
  • Maersk Group
  • Tidewater Inc
  • Hornbeck Offshore Services

For more information about this report visit https://www.researchandmarkets.com/research/cj66xt/world_offshore?w=5

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