Global Offshore Support Vessel Market by Type and by Region

The NOAH Research envisages that the Offshore Support Vessel Market will expand at a robust rate in demand over the forecast period. This is because of the soaring development of Deepwater activities because of the reducing production from mature fields and accelerating production and offshore investigation activities.

Introduction of the Offshore Support Vessel Market

Offshore vessels are the ships primarily designed to perform several functions such as oil analysis and construction work at the stormy seas. These vessels are implemented to transport the indispensable structural components to the deputed seas and supply freight. Further, the major type of vessels includes platform supply vessels (PSVs) and anchor handling tug vessel (AHTV) and

Key Players of Market:

  • Weatherford
  • Halliburton
  • Seadrill Limited
  • Schlumberger Limited
  • Transocean Ltd.
  • Atwood Oceanics, Inc.
  • Baker Hughes
  • Dolphin Drilling AS
  • Valaris plc
  • Diamond Offshore Drilling, Inc.

Offshore Support Vessel Market Dynamics

The factors compounding the growth of the global offshore support vessel market are surging investment in inexhaustible resources and the oil and gas sector and the mounting demand for platform supply vessels (PSVs) because of an expansion in offshore drilling activities. Further, the growing production of crude oil to cater to the accelerating demand for energy is fuelling the market growth. Besides this, several factors such as enlarged lifespan, horsepower, carrier size, and increasing constraints imposed on trading will further drive the market growth.

Moreover, the intensified investment in ultra-deep E&P activities, concerned with mounting industrial and commercial applications of crude oil & natural gas, has thereby stimulated the market growth. The soaring demand to substitute traditional infrastructure is likely to offer various opportunities to other market participants, which proliferates market growth. On the other hand, excessive capital investment and reserved supply of offshore vessels are hindering market growth.

Regional Drivers

In accordance with the geographical analysis, Asia-Pacific is anticipated to expand at a higher compound annual growth rate during the forecast period. This is because of the soaring offshore activities in emerging countries such as Thailand, Australia, China, India, and Indonesia. Also, Brazil is one of the major market players for offshore exploration activities, which is further driving the Offshore Support Vessel market growth.

Offshore Support Vessel MarketSegmentation:

Segmentation by Service
  • Contract Drilling
  • Directional Drilling
  • Logging While Drilling (LWD)
  • Measurement While Drilling (MWD)
Segmentation by Application
  • Shallow Water Drilling
  • Deepwater Drilling
  • Ultra-Deepwater Drilling
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About NOAH Research

A research and consulting enterprises, Noah Research, helps clients to formulate judicious policies and reach a long-term growth via the detailed market research reports.  The large team of experts, researcher, and analysts provides a comprehensive solution to the clients. The research reports includes all précised information about forecasts, competitive landscape, leading players,  major drivers, and other dynamics to reach a managerial decisions

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