Dublin, July 12, 2024 (GLOBE NEWSWIRE) -- The "Offshore Support Vessel Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
In terms of value the market will surpass US$24.4 billion in 2024, this research calculates. The report predicts strong revenue growth through to 2034.
This 400+ page report provides you with the following knowledge:
- Revenue forecasts to 2034 for Offshore Support Vessel Market, 2024 to 2034 Market, with forecasts for application, material, vessel size, end-use, and type, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Offshore Support Vessel Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Offshore Support Vessel Market, 2024 to 2034.
The offshore support vessel (OSV) market is poised for substantial growth driven by a combination of factors including increasing offshore exploration and production activities, rising demand for energy resources, and advancements in offshore technology. Key drivers such as the expansion of offshore oil and gas industries, particularly in regions like the Middle East, Southeast Asia, and Latin America, are propelling the demand for OSVs globally. Moreover, the versatility and multifunctionality of OSVs, catering to various offshore tasks ranging from seismic surveys to construction support and maintenance, are further fuelling market growth.
Amidst this growth trajectory, the OSV market presents lucrative opportunities for industry players. Geographical expansion to emerging markets offers significant growth potential, with untapped offshore reserves in regions such as Africa and South America presenting new avenues for OSV deployment. Furthermore, the adoption of advanced technologies, such as dynamic positioning systems and remotely operated vehicles, enhances operational efficiency and safety, driving demand for modern OSV fleets. Additionally, strategic collaborations with regional players and investments in upcoming technologies enable companies to strengthen their market presence and capitalize on emerging opportunities.
However, the OSV market is not without its challenges. The volatility of oil prices and cyclical nature of offshore projects pose risks to market stability, impacting vessel utilization rates and profitability. Moreover, stringent regulatory frameworks and compliance requirements, including environmental regulations and safety standards, add complexity to operations and increase operational costs for OSV operators. Furthermore, the aging fleet of OSVs and the need for vessel modernization and retrofitting pose challenges in meeting evolving industry demands and maintaining competitiveness.
Huge Capital to Launch Offshore Support Vessels Hinder the OSV Market
The offshore support vessel (OSV) market faces a significant hindrance in the form of the substantial capital required for launching these vessels. Building, outfitting, and deploying OSVs demand considerable financial resources, posing a challenge for companies operating in this sector. The upfront investment needed for constructing and commissioning OSVs, which are essential for various offshore operations such as oil and gas exploration, offshore wind farming, and marine research, can be daunting.
Additionally, ongoing operational expenses, including crew salaries, maintenance costs, fuel expenditures, and regulatory compliance, further contribute to the financial burden. This high capital requirement acts as a deterrent for potential investors and market entrants, limiting the growth and expansion of the OSV market. Moreover, fluctuations in global economic conditions and uncertainties in the energy sector can exacerbate these financial challenges, making it even more challenging for companies to justify the investment in new OSV projects. As a result, addressing the issue of huge capital requirements is crucial for unlocking the full potential of the OSV market and fostering its sustainable growth in the future.
You need to discover how this will impact the offshore support vessel market today, and over the next 10 years:
- This 408-page report provides 128 tables and 191 charts/graphs exclusively to you.
- The report highlights key lucrative areas in the industry so you can target them - NOW.
- It contains in-depth analysis of global, regional and national sales and growth.
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the offshore support vessel market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising offshore support vessel prices and recent developments.
Market Segment by Application
- Deepwater
- Shallow Water
Market Segment by Material
- Steel
- Aluminium
- Composite Materials
Market Segment by Vessel Size
- Small Vessels
- Medium Vessels
- Large Vessels
- Very Large Vessels
Market Segment by End-Use
- Oil and Gas
- Offshore Wind
- Offshore Patrolling
- Research and Surveying
- Other End-Uses
Market Segment by Type
- Anchor-handling Tug Supply Vessels
- Platform Support Vessels
- Multipurpose Support Vessels
- Standby and Rescue Vessels
- Crew Vessels
- Other Types
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The report also includes profiles of the leading companies in the Offshore Support Vessel Market, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- A.P. Moller - Marsk A/S
- Bourbon
- DOF Group ASA
- Edison Chouest Offshore
- Grupo CBO
- Harvey Gulf International Marine
- Havila Shipping ASA
- Kawasaki Kisen Kaisha Ltd.
- MMA Offshore Ltd.
- Ostensjo Rederi
- Seacor Marine Holdings Inc.
- Siem Offshore
- Solstad Offshore ASA
- Tidewater Inc.
- Vroon
Other major companies profiled in the report:
- Cadeler
- DOF Group
- Icon Offshore
- Kawasaki Kisen Kaisha Ltd.
- L&M Botruc Rental, Inc.
- Laborde Marine
- Oil Tankers SCF MGMT FZCO
- Petrobras
- Petronas Carigali
- Seacor Marine
- Seven Atlantic
- Siem Pearl
- Sovcomflot
- Sun Ship Management
- Viking Energy
- Wartsila
- Westwood Global Energy Group
- Wintermar Offshore Marine
For more information about this report visit https://www.researchandmarkets.com/r/90bemi
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