Global Offshore Support Vessels Market Report to 2028: Rise in Demand for Well Drilling and Production Activities Drives Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Offshore Support Vessels Market Size, Share, Growth Analysis, By Vessel Type, By Water depth, By End Users – Industry Forecast 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Offshore Support Vessels Market was valued at USD 22.91 billion in 2021, and it is anticipated to attain a value of USD 30.37 billion by 2028 with a CAGR of 4.11% over the forecast period (2022 – 2028).
Companies Mentioned
- Bourbon Corporation SA (France)
- Maersk Supply Service AS (Denmark)
- Seacor Marine Holdings Inc. (US)
- Edison Chouest Offshore (US)
- Abdon Callais Offshore LLC (US)
- Solstad Farstad (Norway)
- Edison Chouest Offshore (US)
- Abdon Callais Offshore LLC (US)
- Solstad Farstad (Norway)
- Vroon B.V. (Netherlands)
- Swire Pacific Offshore Operations (Pte) Ltd (India)
The global offshore support vessel Market is segmented on the basis of vessel type, application, end user and regions. The market for offshore support vessels type is divided into three categories: anchor handling tug/anchor handling towing supply vessels (AHT/AHTSS), platform supply vessels (PSV), and others.
The offshore support vessels market can be divided into two categories based on water depth: shallow water and deep water. The offshore support boats market can be divided into two categories based on end-user: oil & gas and offshore wind. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and Middle East Africa.
Drivers
The growth of the human population is a significant factor affecting the global demand for energy. The United Nations’ World Population Prospects predicts that the global population will increase from 7.6 billion to 9.8 billion by 2050.
To meet this surge in energy demand, a diverse range of energy sources, such as oil and gas, renewables, thermal, and nuclear power, need to be considered. The offshore support vessel industry has benefited from the rise in demand for well drilling and production activities, owing to the discovery of such reserves.
Restrains
The demand for offshore support vessels (OSVs) is heavily influenced by oil prices. The profitability of oil and gas companies is impacted by the expensive offshore infrastructure.
Day rates for OSVs are correlated with the volatile oil and gas market, and acquiring new vessels entails a substantial financial commitment. The fluctuating nature of oil and gas prices is attributed to shifts in crude demand and production levels from both OPEC and non-OPEC nations.
Trends
As the worldwide desire for oil and gas persists to grow, businesses are venturing into fresh petroleum reserves, such as deepwater oil and gas exploration.
As a result, crude oil production has significantly surged, with over 1700 thousand barrels per day being extracted from the Gulf of Mexico Federal Offshore zone in the United States. The rising trend of offshore petroleum extraction and correlated services demonstrates a robust demand for these resources.
For more information about this report visit https://www.researchandmarkets.com/r/kizwpr
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