Offshore Support Vessel Global Market Report 2018-2023 - Aging of Offshore Infrastructure Leading to Replacement and Decommissions - ResearchAndMarkets.com

DUBLIN--()--The "Offshore Support Vessel Market by Type (AHTS, PSV, MPSV, Standby & Rescue Vessel, Crew Vessel, Chase Vessel, Seismic Vessel), Application (Shallow and Deepwater), End-User (Oil & Gas and Offshore Wind), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global offshore support vessel market is expected to grow at a CAGR of 5.04%, from 2018 to 2023, to reach a market size of USD 25.66 Billion by 2023.

This growth is attributed to the increasing focus on oil & gas production at offshore fields. The aging infrastructure leading to replacement and decommissioning offers lucrative opportunities for market players in the coming five years.

The Asia Pacific market led the offshore support vessel market, with the largest market share, by value, in 2018, and the trend is projected to continue until 2023. The market in Europe will also play an important role in driving demand for offshore support vessels. The North America is a fast-growing market for offshore support vessels during the forecast period. This growth is due to the increasing focus on offshore robust investments in offshore oil & gas sector, and growing offshore exploration activities, combined with the growth in offshore wind farms and in order to replace production from mature onshore fields.

Some of the leading players in the offshore support vessel market, on the basis of their recent developments and other strategic industrial activities, are Bourbon (France), Seacor Marine (US), Swire Group (Hong Kong), Tidewater (US), Gulfmark Offshore, Inc. (US), Havila Shipping (Norway), Hornbeck Offshore Services (US), The Maersk (Denmark), and Siem Offshore (Norway), among others.

These players have adopted growth strategies such as new product launches, contracts & agreements, partnerships, collaborations, alliances, and joint ventures, mergers & acquisitions, and investments & expansions to capture a larger share of the offshore support vessel market.

Market Dynamics

Drivers

  • Investments in Offshore Oil & Gas and Renewable Sectors

Restraints

  • Capital-Intensive Market
  • Oversupply of Offshore Vessels

Opportunities

  • Aging of Offshore Infrastructure Leading to Replacement and Decommissions
  • Increased Exploration Actives in Ultra-Deep Water and Artic Region

Challenges

  • High Operational Risks
  • Governmental Regulations for Offshore Activities in Key Regions

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Offshore Support Vessel Market, by Type

7 Offshore Support Vessel Market, by Application

8 Offshore Support Vessel Market, by End-User

9 Offshore Support Vessel Market, by Region

10 Competitive Landscape

11 Company Profiles

  • Bourbon
  • Grupo CBO
  • Gulfmark
  • Havila
  • Maersk
  • SIEM Offshore
  • Seacor Marine
  • Solstad
  • Swire
  • Tayrona Offshore
  • Tidewater
  • Vroon Group

For more information about this report visit https://www.researchandmarkets.com/research/gf3nft/offshore_support?w=4

Contacts

ResearchAndMarkets.com
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Related Topics: Maritime

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Maritime