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Friday, June 23, 2017

Offshore Support Vessel Market worth 20.15 Billion USD by 2022

We bring you another booming market, this time from a Twitter feed.


Deepwater production and exploration activities and investments by emerging economies in offshore exploration will drive the offshore support vessel market.the global Offshore Support Vessel Market is estimated to be USD 15.85 Billion in 2017, and is expected to grow at a CAGR of 4.92%, from 2017 to 2021.

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Market Ecosystem:
The ecosystem of the offshore support vessel market consists of vessel builders, service providers (fleet providers), and oilfield operators. The figure below shows the market ecosystem along with the major companies.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the offshore support vessel market. These players include Bourbon SA (France), Farstad Shipping ASA (Norway), Seacor Marine, LLC (U.S.), Swire Group (U.K.), Tidewater, Inc. (U.S.), Gulfmark Offshore, Inc. (U.S.), Havila Shipping ASA (Norway), Hornbeck Offshore (U.S.), The Maersk Group (Denmark), REM Maritime AS (Norway), Siem Offshore, Inc. (Norway), Solstad Offshore ASA (Norway), Vroon Group (The Netherlands), Edison Chouset Offshore (U.S.), Harvey Gulf International Marine, LLC (U.S.), and Island Offshore Management AS (Norway).

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The leading players are trying to make inroads into markets with tight cabotage rules, such as Brazil, while also taking advantage of the comparatively liberal policies in regions such as the Middle East and Asia-Pacific, to increase their market presence.

Anchor handling tug supply (AHTS) vessels: The largest segment of the offshore supply vessel market, by type
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), standby and rescue vessels, crew vessels, chase vessels, seismic vessels, and others.

The shallow water subsegment is estimated to have the highest growth rate in the offshore support vessel market, by depth.
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, both in terms of market value and growth. 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.

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