Offshore Support Vessel Services Market
The global offshore support vessel services market will be valued at close to US$ 13.3 Bn. Demand for offshore support vessel services is slated to expand at 7.2% CAGR to reach a market revenue of US$ 26.7 Bn by 2033. Growing Seaborne Trade, growth in the ship building industry and increased offshore oil and gas exploration activities are key trends being observed in the market.
Surge in global sea trade is expected to drive the market, offshore wind market has a remarkable potential to augment the market growth, vast prospects for offshore oil and gas exploration activities and others will generate continued demand for offshore support vessel services.
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Key Takeaways from Market Study
• With a growing wind energy industry, demand for support vessels to build and service wind farms is on the rise. Because of the rapid growth of wind farms, new vessels will be required to support their installation and operation on a never-before-seen scale.
• Although each type of offshore service vessel holds fairly important positions in assisting development, exploring and learning, and navigating the ocean, market participants should focus on deploying existing fleets of PSVs and AHTSs.
• In the last decade, there has been an increase in the need for aftersales services. Due to increased demand from this industry, the market for high-value-added retrofits and aftersales services has grown increasingly crucial for equipment suppliers.
• Companies are heading in the direction of a data-driven industry. Operators of OSVs are working together to enhance digitalization. The goal is to test and deploy various digital technologies in order to reduce emissions, improve safety, and lower costs.
• According to service type, technical services account for around 23% market share in 2021.
• Based on regional analysis, Europe is expected to hold the highest market value share in the global market. Faced with production halts, temporary layoffs, and liquidity concerns as a result of the COVID-19 epidemic, the European shipbuilding and maritime equipment manufacturing industry called for sector-specific support measures in addition to horizontal industrial policy and financial support.
“Increasing offshore wind business and several government initiatives for stimulating and cultivating an indigenous industry in recent years are expected to drive demand for offshore support vessel services over the coming years,” says a Persistence Market Research analyst.
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Key Market Segments Covered
By Vessel Type
• Platform Supply Vessel (PSV)
• Multirole field & ROV Supply Vessel (MRSV)
• Offshore Subsea Construction Vessel (OSCV)
• Anchor Handling Tig Supply Vessel (AHTS)
• Emergency Response and Rescue Vessel (ERRSV)
• Chase & Seismic Vessel
• Standby Crew Vessels
• Others
By Service Type
• Financial Services
o Chartering & Brokerage
o Consulting
• Technical Services
o Repair & Maintenance
o Technical Support
• Inspection & Survey
• Building & Design
• Crew Management
o Manpower Supply
o Training & Support
• Logistic & Cargo Management
• Anchor Handling towage & offshore positioning
• Seismic Support
• Assistance, Salvage & Pollution Remediation
• Subsea Services
By End Use Industry
• Offshore Oil & Gas
• Military
• Civil & Commercial
• Offshore Wind
• Others
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Key Companies-
• BOURBON Corporation
• A.P. Møller – Mærsk A/S
• Falcon Energy Group
• Delta marine Industries Inc
• Swire Pacific Limited
• Edison ChouestOffshore(Offshore Service Vessels L.L.C. )
• Greatship (India) Limited
• VroonOffshore Services PteLtd
• Vallianz Holdings. Limited
• Bumi Armada Berhad
• SolstadFarstad ASA
• Seacor Holdings Inc.
• GulfMarkOffshore, Inc
• Tidewater Inc
• Pacific Radiance Ltd
• Hornbeck
• M3 Marine Group Pte. Ltd and more
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