Offshore Support Vessels (OSVs) Industry - Players Focusing on Launching New Products

Press Release   •   Jan 25, 2016 16:45 IST

The global offshore support vessels (OSVs) market is driven by the increased offshore activities and growing investment in the exploration and production (E&P) sector. OSVs are deployed for drilling rigs and oil production platforms and offshore pipe laying in exploration and production activities. Other factors driving the global offshore support vessels (OSVs) market are the rising energy demand, which necessitates an increase in offshore exploration. In addition to this, the global offshore support vessels (OSVs) market will also be propelled by the rise in the offshore rig count. Moreover, the rising marine logistics demand will also boost the global offshore support vessels (OSVs) market. Nevertheless, the global offshore support vessels (OSVs) market will be challenged by the high maintenance cost and replacement cost of OSVs and stringent regulations in certain regions.

Modifications in vessels are done by manufacturers of OSVs to drive market share to supply bulk contracts. Some of the key strategies employed by these manufacturers are new product launches and agreement of distribution to drive their penetration in several regions. Some of the leading industry players are Edison Chouest Offshore, Island Offshore Management, Havila Shipping, GulfMark Offshore, and Rem Maritime.

By type, the global offshore support vessels (OSVs) market is divided into AHTS (anchor handling, towing, and supply vessels), multi-purpose service vessels (MPSV), standby vessels, platform supply vessels (PSV), and crew boats. Anchor handling, towing, and supply vessels are designed to position rig anchors and tow rigs from one place to another. They offer support to offshore construction projects and also help carry drilling pipes. The global offshore support vessels (OSVs) market will be dominated by the anchor handling, towing, and supply vessel (AHTS) segment in the foreseeable future. PSVs are used to perform simpler tasks such as supply duties and cargo runs.

Region-wise, the research study segments the global offshore support vessels (OSVs) market into Europe, Asia Pacific, North America, and Rest of the World (RoW). In Asia Pacific, the demand for offshore vessels is enormous due to the increased exploration in the Southeast Asia region.

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Furthermore, the demand for more offshore vessels is expected from China, Malaysia, and Australia. These nations offer a massive opportunity for offshore support vessels (OSVs) manufacturers. South America and North America are projected to enjoy high revenue growth in the foreseeable future in the global offshore support vessels market as well. The Middle East region is expected to lead the global offshore support vessels market.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.