Offshore Support Vessel Market Industry Analysis, Share, Growth, Sales, Trends, Supply, Forecast 2026
Market Overview The development of offshore facilities involves a variety of marine assets. Over the past few decades, there has been a drastic increase in the offshore E&P activities resulting in to increase in development and demand for offshore support vessels. These vessels are used for exploration, development, production and decommissioning phase of an offshore oil, and gas fields. Offshore support vessel (OSV) can be prepared according to the operators specifications. Offshore E&P operations are complex, failure of operations have drastic consequences on economy and environment. Different types of support vessels are required for different offshore environment. Therefore, development in technology has immensely supported the growth of offshore support vessel market. Increase in oil demand is expected to increase the exploration and production, in turn fueling offshore support vessel market. However, fluctuating oil price, high initial investment, lack of skilled labor,