Offshore Support Vessel Market (OSV) worth $38.53 Billion by 2020

According to a new market research report "Offshore Support Vessel Market by Type (Anchor Handling Tug Supply, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel, Crew Vessel, & Others), by Depth (Shallow & Deepwater), & by Region - Global Forecast to 2020”  , defines and segments the global offshore support vessel market with an analysis and forecast of the market size.

Browse 79 market tables and 55 figures spread through 195 pages and in-depth TOC on "Offshore Support Vessel Market - Global Forecast to 2020"

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The offshore support vessel market is expected to reach USD 38.53 Billion by 2020, at a CAGR of 5.8% from 2015 to 2020. The market is driven by rising demand for oil & gas, which is met by increasing investments in emerging economies with proven oil & gas reserves offshore.

Offshore support vessel market for AHTS vessel to grow at the highest rate

The market has been segmented into vessel type, depth, and region. By vessel type, the market has been subsegmented into Anchor Handling Tug Supply (AHTS), Platform Supply Vessel (PSV), Multipurpose Support Vessel (MPSV), standby & rescue vessel, crew vessel, and others. The AHTS vessel segment is expected to exhibit the highest growth rate during the forecast period. The growth can be attributed to offshore ultra-deepwater E&P activities which have increased production from basins with proven oil reserves in deepwater environments.

Deep water application is estimated to drive the offshore support vessel market with the highest growth rate

On the basis of application, the market has been segmented into shallow and deepwater segments. The shallow water application of offshore support vessel is estimated to lead the market, whereas deepwater application is projected to witness the highest growth. Asia-Pacific and South America are expected to drive this subsegment, due to rising exploration activities and new discoveries of oil & gas reserves in deepwater sedimentary basins.

Asia-Pacific is estimated to be the global leader in offshore support vessel market, by value, for the next five years.

Asia-Pacific is among the largest consumers of oil & gas, followed by North America. Recent discoveries of oil & gas in the offshore basins in Australia, Gulf of Thailand, and South China Sea, and high demand from Malaysia & Indonesia are expected to drive the market for offshore support vessel in this region.

The offshore support vessel market was dominated by Tidewater Inc. (U.S.), Edison Chouest Offshore (U.S.), Bourbon SA (France), and Hornbeck Offshore (U.S.), in 2014. These market players have also been active in the competitive developments of the offshore support vessel market

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Research Methodology:

  • Major regions contributing the maximum share have been identified
  • Secondary research has been conducted to find the major types of offshore support vessels, depths (shallow, deep, ultra-deepwater) of offshore oilfields in the regions and their contribution
  • The supply and demand analysis have been done using company data, literature published through industry associations & confirmed through industry participants, and subject matter experts
  • Services have been identified on the basis of term contracts in the region and the split has been calculated by conducting primary’s with industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts, which helped to obtain and verify critical qualitative and quantitative information as well as assess future market prospects
  • Revenues of the top companies (regional/global), regional vessel utilization ratio, regional day rate trends, and industry trends along with top-down, bottom-up, and MnM KNOW have been used to estimate market size (value)
  • The market has been further broken down into several segments and subsegments on the basis of information gathered

The study answers several questions for the stakeholders, which include OEMs, EPC companies, offshore field operators, offshore service providers, distributers & suppliers, consulting firms, private equity groups, investment houses, equity research firms, and other stakeholders. Primarily, the report provides information about market segments and helps stakeholders to decide their focus areas in next two to five years for prioritizing efforts and investments.

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