Offshore Support Vessels (OSVs) are vessels that provide support to offshore oil rigs and platforms. The global OSV market is forecast to reach USD 12,906 million by 2028 from an estimated USD 9,639 million in 2018, at a CAGR of 6.2% during the forecast period. The major drivers for this market include increasing use of OSV services for various purposes such as new field developments; demand for low-cost and flexible vessel deployment solutions from offshore operators; rising investments in renewable energy projects; increase in exploration activities across the world; continuous technological advancements towards improving safety onboard vessels, etc.
Offshore Support Vessels, or OSVs as they are commonly known, provide support services to offshore oil and gas operations. They can include supply vessels that carry food, fuel, water, and other supplies for personnel on the rig; anchor-handling vessels (AHV) that assist in anchoring rigs when needed; subsea construction equipment such as pipe jacking systems used to construct pipelines under the sea bed while protecting them from currents and storms; diving workboats which transport divers between vessel and platform; semisubmersibles vessels with a large deck area capable of operating in relatively shallow waters near shorelines where deepwater drilling cannot occur but production is still desired.
On the basis of type, the global offshore support vessels market is segmented into platform supply vessels, multi-purpose supply vessels, anchor handling vessels, and others.
Platform supply vessels (PSVs) are designed to transport cargo and supplies from the shoreline out to offshore oil rigs. The PSV may be used as a “mothership” for smaller ships like workboats, or it could perform its own tasks such as deploying buoys that mark underwater hazards or drilling platforms in shallow water. Platform Supply Vessels can also carry crew members who need rest away from their home base when they're not needed onshore but, because of liability issues if anything were to go wrong while at sea, these people must sign waivers before boarding.
Multi-purpose supply vessels, also known as MPVs, are used for various offshore operations. They can be equipped with specialized equipment and serve a number of roles in the oil and gas industry such as well intervention, production support, or pipeline installation. These ships usually have an average length between 80 to 120 meters long (270 – 390 feet) with beam widths ranging from 18 to 30 meters wide (60 - 98 feet). The crew size varies but it is typically made up of 12 people at most onboard these ships depending if they carry any staff onboard tailored for specific tasks. In general, though, multi-purpose supply vessel crews consist of less than 20 individuals including engineers and deckhands that work round the clock.
Anchor handling vessels are a type of offshore supply vessel that is responsible for towing, lifting, and holding anchors on behalf of oil rigs. These vessels typically have the capacity to tow or lift up to three different types of anchors, with each anchor weighing between 2500kg-5000 kg. Anchor Handling Vessels can also carry out other tasks such as cable laying, third-party maintenance work in shallow water areas where repair ships cannot operate due to their draft limitations.
On the basis of application, the global offshore support vessels market is segmented into oil & gas, submarine communications power, and others.
OSVs or offshore support vessels are used in the oil and gas industry to transport materials, supplies, and people between ships that can't dock due to weather conditions. The OSV itself is usually a self-propelled vessel with more than one deck for transporting cargo, such as an anchor handling vessel (AHTS) which carries anchors from supply vessels onto platforms. OSVs can also be seen equipped with drilling rigs, providing oil exploration. These vessels include semi-submersible platforms and drillships, typically used in deep water positions such as the North Sea.
The offshore support vessels are used in submarine communications power. Submarine cables require a lot of maintenance and repairs, which is done by the offshore supply vessel that provides all sorts of services such as cable installation, inspection, repair, etc. These vessels also provide power to these areas with either onshore or off-shore generators. The subsea world is flourishing at an alarming rate due to the advent of communication technologies like high-speed data transmission lines, internet backbone networks for military purposes among others. With this rapid expansion has come a growing demand for equipment that can be deployed underwater through more difficult conditions than ever before - hence where OSVs come into play!
On the basis of region, the global offshore support vessels market is segmented into North America, Latin America Europe, Asia Pacific, and Middle East & Africa. North America is the largest and fastest-growing market for offshore support vessels OSV due to a rise in demand from drilling rigs. Both Latin American markets are anticipated to grow at a faster pace than the rest of the world. The major driving factor for this growth is increased demand from downstream industries such as oil & gas exploration in all regions worldwide due to strong economic outlooks across developed economies coupled with an increase in expenditure on infrastructure projects in emerging markets throughout various parts of the world. In addition, factors like increasing pollution levels also contributed to this trend Further facts carry out that more than 27% of the global demand for OSV vessels is expected to come from offshore oil and gas, while 12% will be in communication support.
- Increasing demand for offshore support vessels OSVs in the oil and gas industry.
- Fewer ships available due to high shipbuilding costs.
- Decreasing production of crude oil by major producers such as Russia, Saudi Arabia, Venezuela, Angola, and Nigeria.
Up Market Research published a new report titled “Offshore Support Vessels OSV Market research report which is segmented by Types (Platform Supply Vessels, Multi-purpose Supply vessels, Anchor Handling Vessels, Others), By Applications (Oil & Gas, Submarine Communications, Power, Others), By Players/Companies Keppel Corporation, Qingdao Euchuan, IHC Offshore, Marine B.V, CSSC, SINOPACIFIC Shipbuilding Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Offshore Support Vessels OSV Market Research Report|
|By Type||Platform Supply Vessels, Multi-purpose Supply vessels, Anchor Handling Vessels, Others|
|By Application||Oil & Gas, Submarine Communications, Power, Others|
|By Companies||Keppel Corporation, Qingdao Euchuan, IHC Offshore, Marine B.V, CSSC, SINOPACIFIC Shipbuilding Group|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||232|
|Number of Tables & Figures||163|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Platform Supply Vessels, Multi-purpose Supply vessels, Anchor Handling Vessels, Others and By Application Oil & Gas, Submarine Communications, Power, Others.
Some of the companies that are profiled in this report are:
Offshore Support Vessels OSV Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Offshore Support Vessels OSV Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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