Offshore Support Vessel Market Regulations

Posted 2023-10-03 07:29:43

Market Research Future Insights

The global offshore support vessel market is expected to grow from USD 10.3 billion in 2022 to USD 14.6 billion by 2030; it is expected to record a CAGR of 5.11% during the forecast period.

Offshore supply vessels (OSVs) are specialized ships that are designed to support offshore exploration and production activities, particularly in the oil and gas industry. These vessels transport goods and equipment, provide accommodation and catering services, and perform various other support functions.

The global Offshore Support Vessels Market has been impacted by the COVID-19 pandemic, as the oil and gas industry has been hit hard by the decline in demand due to the pandemic. This has resulted in reduced exploration and production activities, which in turn has led to a decrease in demand for OSVs.

However, the market is expected to recover in the coming years, as the global economy recovers and oil and gas demand returns to pre-pandemic levels. In addition, there is growing demand for OSVs in the renewable energy sector, particularly in offshore wind projects, which is expected to drive growth in the market.

Key players

· Maersk (Denmark)

· Siem Offshore AS (Norway)

· SEACOR Marine (U.S.)

· Tidewater (U.S.)

· GulfMark Offshore Inc. (U.S.)

· Havila Shipping (Norway)

· 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)

· Bourbon Offshore (France)

Regional Analysis

Regionally, the OSV market is dominated by the Americas, followed by Europe, Asia Pacific, and the Middle East and Africa. The Americas region is expected to continue to be the largest market for OSVs, driven by the presence of a large number of offshore exploration and production activities in the Gulf of Mexico and Brazil. The Asia Pacific region is expected to see significant growth, driven by increasing offshore exploration and production activities in countries such as Australia, Malaysia, and Indonesia.

Market Segmentation

The Global Marine logistics support Market has been segmented into type and application.

Based on type: The segmentation of the Offshore Support Vessels Market by type comprises seismic, standby & rescue, multipurpose support, anchor handling tug supply, and platform supply.

Based on Applications: Data from the Offshore Support Vessels Market has been divided into shallow water and deep water segments based on application.

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