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Market Snapshot

CAGR:5.94

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	5.94

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Report Overview

Offshore Support Vessels Market Analysis By Application (Oil & Gas Exploration, Offshore Wind, Offshore Construction), By Type (Anchor Handling Tug Supply (AHTS) vessels, Platform Supply Vessels (PSVs), Multi-Purpose Support Vessels (MPSVs), Others), and By Region Forecast to 2032:

The Offshore Support Vessels Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the continued demand for oil and gas exploration, the growth of offshore wind energy projects, and increased offshore construction activities. Offshore support vessels play a pivotal role in facilitating these offshore operations.

Offshore Support Vessels Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Offshore Support Vessels Market is the demand for oil and gas exploration. As the global energy demand continues to rise, the oil and gas industry seeks new reserves in offshore locations. Offshore support vessels, such as Anchor Handling Tug Supply (AHTS) vessels and Platform Supply Vessels (PSVs), provide essential logistics and support for offshore drilling and production activities.

Furthermore, the growth of offshore wind energy projects is driving market expansion. Offshore wind farms require various support services during installation, maintenance, and decommissioning. Multi-Purpose Support Vessels (MPSVs) and other specialized vessels are instrumental in transporting equipment, personnel, and supplies to these remote locations.

Trends:

An emerging trend shaping the Offshore Support Vessels Market is the adoption of environmentally friendly vessels. With increasing emphasis on sustainability and reducing environmental impact, the industry is witnessing a shift toward vessels powered by cleaner energy sources, such as liquefied natural gas (LNG) and hybrid propulsion systems.

Additionally, the integration of advanced technology in offshore support vessels is positively impacting market growth. Vessels equipped with state-of-the-art navigation systems, dynamic positioning technology, and autonomous capabilities enhance operational efficiency and safety.

Restraints:

One of the key challenges hindering the growth of the Offshore Support Vessels Market is the volatility in oil prices. Fluctuations in oil prices can impact the profitability of offshore oil and gas projects, subsequently affecting the demand for support vessels.

Moreover, regulatory compliance and safety standards are potential restraints for the market. Offshore operations are subject to stringent safety and environmental regulations, which can increase operational costs and pose challenges for vessel operators.

Offshore Support Vessels Market Segmentation By Application:

Oil & Gas Exploration: Offshore support vessels are essential for the logistics, transport, and support of oil and gas exploration activities, including drilling and production.
Offshore Wind: The growing offshore wind energy sector relies on support vessels for tasks such as turbine installation, maintenance, and cable laying.
Offshore Construction: Offshore construction projects, including the installation of pipelines and subsea infrastructure, require specialized support vessels for transportation and logistics.

Offshore Support Vessels Market Segmentation By Type:

Anchor Handling Tug Supply (AHTS) vessels: AHTS vessels provide support for offshore drilling and anchor handling tasks, including towing and mooring.
Platform Supply Vessels (PSVs): PSVs transport equipment, materials, and personnel to offshore platforms and drilling rigs.
Multi-Purpose Support Vessels (MPSVs): MPSVs are versatile vessels that can perform various roles, including diving support, construction support, and subsea operations.
Others: This category encompasses other specialized offshore support vessels tailored to specific tasks, such as seismic survey vessels and accommodation barges.

Regional Overview:

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North America: North America's Offshore Support Vessels Market benefits from offshore oil and gas activities in the Gulf of Mexico and growing offshore wind projects on the East Coast.
Europe: Europe is a prominent market for offshore support vessels, with substantial offshore wind development in the North Sea and the Baltic Sea. Norway, the UK, and Denmark are key players in this region.
Asia-Pacific: The Asia-Pacific region experiences significant market growth due to offshore oil and gas exploration activities in Southeast Asia and the development of offshore wind projects in countries like China and Taiwan.

Offshore Support Vessels Market Customer Landscape:

The Offshore Support Vessels Market caters to a diverse customer base, including oil and gas exploration companies, offshore wind energy developers, offshore construction firms, and marine transportation companies. Customers seek offshore support vessels to ensure the efficient and safe execution of their offshore projects.

Major Offshore Support Vessels Companies:

Companies in the offshore support vessels market play a pivotal role in manufacturing, owning, and operating these vessels.

Example companies include:

Tidewater Inc.: Tidewater specializes in providing offshore support vessels to the global energy industry, offering a wide range of vessel types.
Edison Chouest Offshore: Edison Chouest Offshore operates a diverse fleet of offshore support vessels, serving various offshore industries.
Bourbon Corporation: Bourbon offers a range of vessels and services for offshore oil and gas operations, as well as the renewable energy sector.
DOF ASA: DOF ASA provides offshore support services, including vessel operations, to the offshore energy industry.

The competitive landscape analysis in the report provides insights into key market players, including:

Tidewater Inc.
Edison Chouest Offshore
Bourbon Corporation
DOF ASA
Siem Offshore Inc.
Harvey Gulf International Marine
Swire Pacific Offshore Operations (Pte.) Ltd.
Solstad Offshore ASA
GulfMark Offshore, Inc.
Farstad Shipping ASA

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their specialization, market share, and technological capabilities.

Segment Overview:

The Offshore Support Vessels Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Oil & Gas Exploration
Offshore Wind
Offshore Construction

Type Outlook (USD Million, 2019 - 2032):

Anchor Handling Tug Supply (AHTS) vessels
Platform Supply Vessels (PSVs)
Multi-Purpose Support Vessels (MPSVs)
Others

Geography Outlook (USD Million, 2019 - 2032):

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
Japan
India

Latin America

Brazil
Mexico

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Offshore support vessels MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Offshore support vessels MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Offshore support vessels Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Offshore support vessels Of Suppliers

4.5.2. Offshore support vessels Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Offshore support vessels MARKET BY type landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Anchor Handling Tug/Anchor Handling

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Towing Supply Vessels (AHT/AHTSs)

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Platform Supply Vessels (PSV)

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Offshore support vessels MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 End user 1

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 End user 2

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 End user 3

6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Offshore support vessels MARKET REGIONAL OUTLOOK

7.1. Offshore support vessels Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Offshore support vessels Market Estimates And Forecast, 2016 – 2027 (USD Million)

7.2.2. North America Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Offshore support vessels Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Offshore support vessels Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Offshore support vessels Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Offshore support vessels Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Offshore support vessels Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Tidewater Inc

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Bourbon Corporation SA

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Seacor Marine Holdings

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Solstad Offshore ASA

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Company 5

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Offshore Support Vessels Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032