Market Report Summary
- Market – Offshore Support Vessel Services Market
- Market Value – US$ 11.7 Bn in 2021
- Market CAGR Value – 7.0% in 2021 -2031
- Market Forecast Year – 2021 to 2031
Offshore support vessel services market is basically driven by massive investments in offshore renewable and oil & gas sectors. With population explosion worldwide (in the Asia-Pacific, in particular), there is an ever-increasing demand for energy, which, in turn, has to be addressed through several energy sources like renewables, oil & gas, nuclear power, and thermal power. Persistence Market Research has walked through these facts with insights in its latest market study entitled “Offshore Support Vessel Services Market”.
Offshore Support Vessel Services Market Dispersion
The global offshore support vessel services market, by type of vessel, spans PSVs (Platform Supply Vessels/, MRSVs (Multirole field & ROV Supply Vessels), OSCVs (Offshore Subsea Construction Vessels), AHTSs (Anchor Handling Tig Supply Vessels), ERRSVs (Emergency Response and Rescue Vessels), Chase & Seismic Vessels, Standby Crew Vessels, and likewise.
By type of service, it’s financial services (chartering & brokerage and consulting), technical services (repair & maintenance and technical support), inspection & survey, building & design, crew management (manpower supply and training & support), logistic & cargo management, anchor handling towage & offshore positioning, seismic support, assistance, salvage & pollution remediation, and subsea services. By end-use industry, it’s offshore oil & gas, military, civil & commercial, offshore wind, and likewise. Persistence Market Research has given a detailed analysis along with future measures in its latest market study entitled “Offshore Support Vessel Services Market”.
North America holds the largest market share followed by Europe. However, the Asia-pacific is expected to grow at the fastest rate in the offshore support vessel services market. Amongst the important new-fangled offshore developments are inclusive of Briseis, Laverda, and Scarborough in Australia, Rotan, Petai, and Gumusut-Kakap in Malaysia, KG-D6 complex in India, and Gehem project in Indonesia. Persistence Market Research has mentioned about these findings and measures to be taken in its latest market study entitled “Offshore Support Vessel Services Market”.
Persistence Market Research has profiled the key players in offshore support vessel services market as Bourbon Corporation, A.P. MՓller – Asersk A/S/, Falcon Energy Group, Delta Marine Industries Inc., Swire Pacific Ltd., Edison Chouest Offshore (Offshore Service Vessels LLC), Greatship (India) Ltd., Vroon Offshore Services Pte. Ltd., Vallianz Holdings Ltd., Bumi Armada Berhad, Solstad Farstad ASA, Seacor Holdings Inc., Gulf Mark Offshore, Inc., Tidewater Inc., Pacific Radiance Ltd., Hornbeck, and M3 Marine Group Pte. Ltd.
Persistence Market Research has gone further with mentioning about the latest developments on this count. For instance – American Industrial Partners, in the year 2021, did buy the US Shipping Corporation (USSC) to expand all across the US East Coast, Puerto Rico, and Gulf Coast trade lanes. Ostensjo, in March 2021, signed a contract with Edda Wind for 2 extra CSOV (Commissioning Service Operation Vessels), along with 4 vessels to be constructed.
The purpose of these vessels is that for service operations at the time of operation and commissioning of the offshore wind farms. Zero-emission technology is being used for developing all the 6 vessels. Vroon Offshore Services, in March 2021, inked a contract with PSE Kinsale Energy Limited (KEL) for ERRV (emergency response and rescue vessel) VOS Pathfinder.
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This contract is meant for decommissioning campaign at Kinsale area gas fields offshore Ireland. Siem Offshore, in December 2020, did launch its very first hybrid vessel known as Siem Symphony. It has been fitted with chargeable battery pack with 600 kWh as an extra power supply. It has been observed that the vessel ends up consuming less fuel. When standby mode is to be operated upon or placed in ports, this helps.
The global offshore support vessel services market is slated to grow on a staggering note between 2021 and 2031 – Persistence Market Research