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, and government regulations are the major restrains for the growth of offshore support vessel market.

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Market Dynamics

Asia Pacific is accounted to have fastest growth in the offshore support vessel market, owing to increase in globalization and energy demand from economies, such as China, India, Malaysia, and Indonesia. Development in technology has led to augment in the offshore support vessel market. Furthermore, increasing consumption and offshore E&P development in Australia, South China Sea, and Gulf of Thailand have driven the offshore support vessel market in this region. According to Baker Hughes, the offshore rig count in Asia Pacific in March 2017 was 76 as compared to March 2016, which was 70.

Global Offshore Support Vessel Market Taxonomy

On the basis of type, the global offshore support vessel market is segmented as:

  • Anchor Handling Towing and Supply Vessel (AHTS)

    Seismic Vessel

    Platform Supply Vessel (PSV)

    Well Intervention Vessel

    Offshore Construction Vessel

    Accommodation Ships

    Multipurpose Support Vessel (MSV)

    Crew Vessel

    Inspection, Maintenance and Repair Vessel (IMR)

    Mooring Launchers

    Remote Operating Vessel (ROV)

    Dive Support Vessel

    Chase Vessel

    Safety Standby/Utility Vessel

    Oil Terminal Support Vessel

    Others

The major players operating global offshore support vessel market are maEdison Chouest Offshore, Abdon Callais Offshore, Havila Shipping ASA, Farstad Shipping ASA, Gulfmark Offshore Inc., Bourbon Offshore Marine services, and Island Offshore Management AS.

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