NEW YORK, Dec. 14, 2023 /PRNewswire/ — How much is the expected growth in the Offshore Supply Vessel Market size from 2023 to 2028?
Technavio has announced its latest market research report titled Global Offshore Supply Vessel Market 2024-2028
The offshore supply vessel market size is expected to grow by USD 6.00 billion from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 4.42% during the forecast period. The rise in global demand for oil and natural gas is notably driving the offshore supply vessel market. However, factors such as the rise in operational costs of OSVs may impede market growth. The market is segmented by Type (AHTS, PSV, FSIV, MPSV, and Others), End-user (Offshore oil, gas, and Offshore wind), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Who will be the largest contributor to market growth during the forecast period?
The Anchor Handling Tug Supply (AHTS) segment will be the largest contributor to market growth during the forecast period. AHTS vessels are naval vessels used for tugging/towing (oil rigs, ships) and handling the anchors for oil rigs. AHTS vessels are built to withstand harsh weather conditions and are specifically used to help install oil rigs in the deep water. AHTS vessels are also used to assist in tanker loading and deepwater anchor handling. The AHTS vessel segment will witness significant growth due to the expected increase in CAPEX by 6%-7% in deepwater activities by major companies engaged in the global oil and gas industry.
To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.
What is the projected contribution of APAC to the global market growth during the forecast period?
APAC will contribute 36% to the growth of the global market during the forecast period. The increase in the number of oil rigs and the increase in capital expenditure (CAPEX) in the oil and gas industry, resulted in the offshore supply vessel (OSV) market in APAC. Furthermore, there is an increase in energy requirements due to motorization and infrastructure developments in developing economies such as China and India.
Where is the presence of Bass Marine Pty Ltd., AP Moller Maersk AS, BOURBON Maritime, and more in the fragmented offshore supply vessel market?
The offshore supply vessel market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
AP Moller Maersk AS, Bass Marine Pty Ltd., BOURBON Maritime, Damen Shipyards Group, DP World, Edison Chouest Offshore Co., Harren Shipping Services GmbH and Co. KG, Harvey Gulf International Marine LLC, Havila Shipping ASA, Hornbeck Offshore Services Inc., Island Offshore Management AS, Nam Cheong Ltd., SEACOR Marine Holdings Inc., Solstad Offshore ASA, Tidewater Inc., Van Aalst Group, Vroon BV, Wartsila Corp., Qatar Navigation QPSC, Siem Offshore Inc.
View a FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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Offshore Supply Vessel Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.42% |
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Market growth 2024-2028 |
USD 6.00 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.24 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 36% |
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Key countries |
US, Saudi Arabia, China, Russia, and Norway |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AP Moller Maersk AS, Bass Marine Pty Ltd., BOURBON Maritime, Damen Shipyards Group, DP World, Edison Chouest Offshore Co., Harren Shipping Services GmbH and Co. KG, Harvey Gulf International Marine LLC, Havila Shipping ASA, Hornbeck Offshore Services Inc., Island Offshore Management AS, Nam Cheong Ltd., SEACOR Marine Holdings Inc., Solstad Offshore ASA, Tidewater Inc., Van Aalst Group, Vroon BV, Wartsila Corp., Qatar Navigation QPSC, and Siem Offshore Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio