Global Offshore Support Vessels Market Is Likely To Grow At A CAGR Value Of Around 3.9% By 2028

The global offshore support vessels market was worth around USD 21.80 billion in 2021 and is estimated to grow to about USD 27.42 billion by 2028, with a compound annual growth rate (CAGR) of approximately 3.9 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Offshore support vessels play a vital role in energy generation and distribution on a global scale and are expected to see a high demand owing to the rising establishment of offshore wind energy generation plants across the world.

Offshore support vessels are highly popular in the oil and gas industry and have major application scope in the same but this is expected to change over the forecast period as the use of offshore support vessels increases in the establishment of offshore clean energy generation plants.  

Increasing urbanization and industrialization across the world have substantially increased the demand for energy at a massive scale. Emerging economies are rife with opportunities for offshore support vessels market growth as they try to meet their increasing energy demands and adhere to sustainability norms that are being prescribed across the world in a bid to conserve the environment.  

The offshore support vessels market offers opportunities in offshore wind energy generation that is gaining impetus across the world owing to the popularity of clean energy. However, the market growth is expected to be constrained by the high costs associated with offshore support vessels.

Moreover, the fluctuations in crude oil prices also offer a challenge for offshore support vessels companies as they affect the profit margins and revenue generation potential substantially. Volatility in crude oil prices and changing economic climate of the world is also a major challenge for offshore support vessels market growth through 2028.

The pandemic brought certain markets to their knees due to restrictions across the globe that made it impossible to conduct business as usual. The oil and gas industry experienced a major slump in demand due to lockdowns across the world and sea activity was also stuck in limbo due to the closed borders of some nations. The offshore support vessels market is expected to rise at a steady pace in the post-pandemic era as the world returns to normal and demand for energy sees a hike after a major slump in 2020.

Browse the full “Offshore Support Vessels Market By Type (Anchor-Handling Tug Supply Vessels, Platform Support Vessels, Multipurpose Support, Vessels, Emergency Response/Standby And Rescue Vessels, Crew Vessels, Seismic Vessels, Chase Vessels, Others), By Application (Shallow Water, Deepwater), By End User (Oil & Gas, Offshore Wind), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/offshore-support-vessels-market

The global offshore support vessels market is segregated based on type, application, end user, and region. Based on type, the global market is distinguished into anchor-handling tug supply vessels, platform support vessels, multipurpose support, vessels, emergency response/standby and rescue vessels, crew vessels, seismic vessels, chase vessels, and others. The anchor-handling tug supply vessels sub-segment is expected to hold a dominant outlook over the forecast period. This segment is expected to see a rise in popularity owing to the versatile nature of anchor-handling tug supply vessels that make them a crucial asset due to their robust design packed with multiple features

Emerging economies across the world are expected to provide lucrative opportunities for the Offshore Support Vessels market growth owing to the rising demand for energy. The Asia Pacific region is expected to see high demand from nations such as India and China where the demand for energy is rapidly rising. Europe and North America are expected to be significantly important markets for global Offshore Support Vessels market growth through 2028 owing to the rising establishment of offshore energy generation activities in these regions.

Key players functioning in the global offshore support vessels market include Maersk (Denmark), BOURBON (France), Ostenjso Rederi (Norway), MMA Offshore (Australia), SEACOR Marine (US), Solstad Offshore (Norway), Tidewater (US), PACC Offshore Services Holdings (Switzerland), DOF Group (Norway), Vroon Group (Netherlands), Siem Offshore (Norway), Swire Pacific (UK), Grupo CBO (Brazil), Royal IHC (Netherlands), Edison Chouest Offshore (US), Havila Shipping (Norway), Nam Cheong Limited (Malaysia), Kawasaki Kisen Kaisha (Japan), Harvey Gulf International Marine (US), and GC Rieber (Norway)

Recent developments:

• In March 2021, Ostensjo Rederi was offered a contract for the construction of two additional commissioning service operation vessels (CSOV) by Edda Wind who had already placed an order for four vessels before these. The vessels are estimated to be developed on zero-emission technology.

Global offshore support vessels market is segmented as follows:

By Type

• Anchor-handling tug supply vessels
• Platform support vessels
• Multipurpose support vessels
• Emergency response/standby and rescue vessels
• Crew vessels
• Seismic vessels
• Chase vessels
• Others

By Application

• Shallow Water
• Deepwater

By Type

• Oil & Gas
• Offshore Wind

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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