Over the next five years the Offshore Supply Vessel (OSV) market will register a 8.5% CAGR in terms of revenue, the global market size will reach USD 26990 million by 2027.
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.
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.
Top Key players in the Offshore Supply Vessel (OSV) Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Offshore Supply Vessel (OSV) Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Edison Chouest, Tidewater, Bourbon Offshore, DOF, Swires, Maersk Supply Service, Farstad Shipping, Hornbeck, Cosl, Island Offshore Management, Gulf Mark, Havila Shipping and others.
Hornbeck Offshore to Acquire Ten High-Spec Offshore Supply Vessels From Certain Affiliates of Edison
January 11, 2022 — Hornbeck Offshore Services, Inc. (“Hornbeck Offshore” or the “Company”) announced today that it has entered into definitive vessel purchase agreements with certain affiliates of Edison Chouest Offshore (the “Sellers”) to acquire a total of ten high-spec new generation offshore supply vessels (“OSVs”) for an undisclosed amount of cash. Eight of the vessels are U.S.-flagged, Jones Act-qualified, 280 class DP-2 OSVs with capacities of circa 4,750 DWT. The other two vessels are Mexican-flagged 240 class DP-2 OSVs with capacities of circa 3,200 DWT.
Global Offshore Supply Vessel (OSV) Market research provides a detailed Analytical Insights of global market size, regional and country-level scope, segmentation wise growth, global share, Competition Scenario, sales analysis, impact global market players on domestic players, value chain optimization, trade regulations, Latest developments, future opportunities, product launches, expanding marketplaces, and New technological innovations.
Offshore Supply Vessel (OSV) Market is segmented based on the type, applications, companies and regions.
By Type, Offshore Supply Vessel (OSV) Market has been segmented into
The end user’s industry application on Offshore Supply Vessel (OSV) Market is,
Regional Analysis:
Due to the favourable clean energy outlook and rising hydrocarbon operations, Asia Pacific is expected to keep the top position in the market with USD 3.57 billion in 2021. For example, India's National Institute of Wind Energy announced a 1 GW offshore wind target in August 2021, with a 30 GW target set for 2027. China, India, Japan, Australia, and a number of Southeast Asian countries are also important players in the region.
The report offers in-depth assessment of the growth and other aspects of the Offshore Supply Vessel (OSV) Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Offshore Supply Vessel (OSV) Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Offshore Supply Vessel (OSV) Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry. This Research Study compares the markets of Pre COVID-19 and Post COVID-19 with the impact of COVID-19 on the regional economy.
Report Attributes |
Report Details |
Forecast Period 2022 to 2027 CAGR |
CAGR of 8.5% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | Edison Chouest, Tidewater, Bourbon Offshore, DOF, Swires, Maersk Supply Service, Farstad Shipping, Hornbeck, Cosl, Island Offshore Management, Gulf Mark, Havila Shipping |
Regions Covered |
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Countries Covered |
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Base Year |
2022 |
Historical Year |
2017 to 2022 |
Forecast Year |
2022 to 2027 |
Customization Available |
Yes, the report can be customized as per your needs |
The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID19 Pandemic. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
What is the study period of this market?
The Offshore Supply Vessel (OSV) Market is studied from 2017 - 2027.
What is the growth rate of Offshore Supply Vessel (OSV) Market?
The Offshore Supply Vessel (OSV) Market is growing at a CAGR of 8.5% over the next 5 years.
Who are the key players in Offshore Supply Vessel (OSV) Market?
Edison Chouest, Tidewater, Bourbon Offshore, DOF, Swires, Maersk Supply Service, Farstad Shipping, Hornbeck, Cosl, Island Offshore Management, Gulf Mark, Havila Shipping
What region does this Offshore Supply Vessel (OSV) Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Offshore Supply Vessel (OSV) Market?
Anchor Handling Tug Supply, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel, Others
What are the major end-use applications of Offshore Supply Vessel (OSV) Market?
Shallow Water, Deep Water
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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