Offshore Supply Vessel OSV Consumption Market Synopsis:
In this report, LP Information covers the present scenario with the base year being 2017 and the growth prospects of global Offshore Supply Vessel OSV market for 20182023.
Offshore Supply Vessel OSV is a sea motor vessel used for transmitting cargos, goods, supplies, crews, and offshore exploration and production equipment across oil platforms. OSV supports marine offshore drilling activities through the transportation of offshore energy resources, and it also facilitates oil rigs installation process. It is mostly used by oil and gas companies for exploration and production E&P activities. OSV is operated by ship owners or by companies that take OSV on lease. In addition, OSV facilitates the maritime logistics operation for various other industries such as Subsea and Deep Water Mining.
Deepwater production and exploration activities and investments by emerging economies in offshore exploration will drive the offshore support vessel market.
Oil & gas exploration and production activities are being carried out, both onshore and offshore, worldwide. The offshore oilfield business consists of the survey, exploration, construction, production, maintenance, upgradation of production facilities, and decommissioning. The activities at various stages of the oilfield lifecycle require different types of specialized offshore support vessels OSV, which are suited for the project needs.
The offshore supply vessel market has been segmented into vessel type, depth, and region. The market has been further segmented, by vessel type; into anchor handling tug supply vessels, platform supply vessels PSV, multipurpose support vessels MPSV, and standby and rescue vessels, crew vessels, chase vessels, seismic vessels, and others. The AHTS vessels segment accounted for the largest share, 45% of the market in 2017, AHTS vessels are principal support vessels used for towing, anchoring, and supplying equipment to drilling rigs and production platforms, making them the largest segment of the Offshore Support Vessel Market. Demand for offshore drilling is projected to recover slowly, particularly in deepwater fields as oil prices stabilize, thus, helping the AHTS market.
On the basis of depth, the market has been segmented into shallow water and deepwater segments. The application of offshore support vessels in shallow water projects is estimated to lead the market, in terms of market value share of 70.7% in 2017. The shallow water basins in the Middle East, AsiaPacific, Europe, and North America will play a major role in driving the Offshore Support Vessel Market. Shallow water operations are typically less expensive compared to deepwater operations. Thus, recovering oil prices will lead to a faster increase in offshore activity in shallow water basins compared to deepwater ones.
The OSV market is less concentrated, various enterprises have invested in fleet expansion, so as to replace older vessels, and enhance their position in global market. Key players in offshore support vessel market include Edison Chouest, Tidewater, Bourbon Offshore, DOF, Swires, Maersk Supply Service, Farstad Shipping, Hornbeck, Cosl, Island Offshore Management, Gulf Mark and Havila Shipping.
Over the next five years, LPILP Information projects that Offshore Supply Vessel OSV will register a 8.3% CAGR in terms of revenue, reach US$ 25000 million by 2023, from US$ 15500 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Offshore Supply Vessel OSV market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Anchor Handling Tug Supply
Platform Supply Vessel
Multipurpose Support Vessel
Standby & Rescue Vessel
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Maersk Supply Service
Island Offshore Management
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Offshore Supply Vessel OSV consumption value & volume by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Offshore Supply Vessel OSV market by identifying its various subsegments.
Focuses on the key global Offshore Supply Vessel OSV manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Offshore Supply Vessel OSV with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industryspecific challenges and risks.
To project the consumption of Offshore Supply Vessel OSV submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.