Offshore Support Vessel Market Size Worth $31.77 Billion by 2030 | CAGR: 4.2%

The global offshore support vessel market size is expected to reach USD 31.77 billion by 2030 according to a new study by Polaris Market Research. The report “Offshore Support Vessel Market Share, Size, Trends, Industry Analysis Report, By Type; By Application (Shallow Water, Deepwater), By End-Use (Oil & Gas, Offshore Wind); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing number of deep-water activities, exclusion of traditional infrastructure, as well as growing investments in the oil & gas and renewable sectors are the primary factors that are attributed to the industry growth across the globe. In addition, rising exploration and production activities, growing demand for fuels and energy, and the increasing number of technological advancements are attributed to the global demand.

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Moreover, the recent upsurge in decommissioning activities, coupled with the rising emphasis of government bodies on wind capacity, is further presenting various growth prospects to the industry growth in the forecasting years. Based on the end-use, the oil & gas segment is accounted for the largest share. The availability of high investments for E&P activities, positioning of new FPSO units, and discovery of new reserves in many water extents are bolstering the segment growth. Also, the increasing need to report scientific & analytical funding is further leading the segment demand.

Whereas the offshore wind segment is exhibiting the highest CAGR across the global market over the forecasting years. They help in installing, establishing, and maintaining the turbines. Various wind operators are collaborating with oil & gas enterprises to meet the surging demand for energy, which, in turn, fuelling the segment demand in the near future. The high potential for oil & gas exploration activities, as well as growing investments in wind farm construction, are the chief driving factors for industry growth. The ever-increasing population is stimulating the higher need for energy & resources, which may support the industry growth.

Market participants such as Nam Cheong Limited, MMA Offshore, DOF Group, Grupo CBO, Havila Shipping, Kawasaki Kisen Kaisha, Bourbon, Maersk, Seacor Marine, Siem Offshore, Solstad Offshore, Swire Pacific, Tidewater, and Vroon Group are some of the key players operating in the global market.

Polaris Market Research has segmented the offshore support vessel market report on the basis of type, application, end-use, and region:

Offshore Support Vessel, Type Outlook (Revenue - USD Billion, 2018 - 2030)

• Anchor-handling Tug Supply Vessels
• Platform Support
• Multipurpose Support Vessels
• Emergency Response/Standby and Rescue Vessels
• Crew
• Seismic
• Chase
• Others

Offshore Support Vessel, Application Outlook (Revenue - USD Billion, 2018 - 2030)

• Shallow Water
• Deepwater

Offshore Support Vessel, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

• Oil & Gas
• Offshore Wind

Offshore Support Vessel, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa