Offshore Support Vessel Market

Offshore Support Vessel Market by Type (AHTS, PSV, MPSV, Standby & Rescue Vessel, Crew Vessel, Chase Vessel, Seismic Vessel), Application (Shallow water and Deepwater), End-User (Oil & Gas and Offshore Wind), and Region - Global Forecast to 2026

Report Code: EP 2894 Jun, 2021, by marketsandmarkets.com

[267 Pages Report] The global offshore support vessel market is projected to reach a size of USD 26.8 billion by 2026, at a CAGR of 4.0%, from an estimated USD 22.0 billion in 2021. The market growth is driven by robust investments in the offshore oil & gas and renewable sectors. Increasing deepwater activities and decommissioning of aging offshore infrastructure is likely to offer lucrative opportunities for the offshore support vessel market.

Offshore Support Vessel Market

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Impact of Covid-19 on Offshore Support Vessel market

Vessel companies with international footprints have also had to work around inter-country travel and quarantine restrictions, which have forced crewmembers to overstay hitches for extended periods. Companies have experienced delays in crew changes in different parts of the world, depending on the various quarantine requirements. In some cases, they’ve had to pay for double crews because the other crew was quarantined. Tidewater earmarked USD 20 million for “frictional costs” associated with the pandemic. This included the increased cost of travel and salaries, cost of quarantine mariners, the cost of fuel to transit vessels coming off-hire to their layup locations, and the incremental cost of those vessels being in a layup. Further, demand for  4,000- to 5,000-dwt platform supply vessels (PSV) has fallen significantly due to the pandemic, while the smaller shallow-water boats (1,500-3,000 dwt) have hit rock bottom with the collapse of jack-up drilling. BP witnessed a loss of USD 1 billion during the first quarter of 2020. The company is expected to reduce its annual budget to approximately USD 12 billion. Likewise, Shell has secured a loan of USD 12 billion to preserve its shareholder payouts due to the current oil price crisis and the outbreak of the COVID-19 pandemic. Moreover, with global trade and transportation virtually at a halt, the supply chain faces numerous roadblocks. Well construction and planned maintenance are witnessing severe delays and withdrawal in some cases. Thus, COVID-19 has stalled the growth of the offshore support vessel market.

Offshore Support Vessel market Dynamics

Driver: Increasing investments in offshore wind farm construction, coupled with huge potential for offshore oil and gas  exploration activities

One of the key factors influencing the global energy demand is the growth in the human population. The UN World Population Prospects predicts that the world population will increase from 7.6 billion in 2017 to 9.8 billion by 2050. This rise in the demand for energy has to be met with various energy sources such as oil & gas, renewables, thermal, and nuclear power. According to the BP Statistical Review of 2019, the world still had unexplored 1,729.7 billion barrels of oil reserves by the end of 2018. Discoveries of such reserves are translating into demand for well drilling and production activities, which, in turn, are supporting the offshore support vessel market growth. Moreover, regions that have high energy demand, such as Asia Pacific, are planning to augment their offshore production. Countries such as India and China, which have offshore oil and gas basins in the Indian Ocean and South China Sea, respectively, have huge potential for offshore oil and gas exploration. Apart from the Asia Pacific region, major discoveries are being made in the offshore region of Africa, especially in western Africa.

Restraints: Fluctuations in oil prices and huge capital requirements for offshore projects

Oil prices play a crucial role in determining the demand for OSVs. The high cost associated with offshore installations affects the profitability of oil & gas operators. The day rate of offshore support vessels is linked to the fluctuating oil & gas prices, and it requires high capital budgeting to order/launch new vessels. The cyclic nature of oil & gas prices can be attributed to the changes in the demand for crude, as well as increased production from OPEC and non-OPEC countries. Further, the competition in the oil & gas market between the US and OPEC countries and the shale gas revolution have resulted in a supply glut. The plummeting of crude oil prices to less than half, when compared with the oil prices in June 2014, has forced oil companies to cut down on their spending. This has further resulted in the delay or cancellation of contracts with OSV suppliers, thereby bringing down the utilization rates of these vessels. Oil prices have been constantly fluctuating since the drop in 2014, and the declining trend continued till 2016. However, prices witnessed an uprise in 2017 and 2018, which resulted in higher demand for production enhancement activities. The price again dipped in 2019 and 2020, with a slight increase in the first quarter of 2021.

Initially, the offshore support vessel industry had large players with fewer vessels, which resulted in a low-entry barrier. But, with increasing competition and dynamic operational requirements, the need for technologically sound vessels, along with fluctuating oil prices, has resulted in mergers and collaborations of various companies. These requirements further increase the maintenance cost and day rate of these vessels, along with the cost incurred for the maintenance of ship yards and crew. However, the current trends indicate the demand-supply fundamentals of offshore support vessels to move back into equilibrium, which can impact oil prices, and hence, further stabilize the market.

Opportunities: Increased ultra-deepwater exploration activities, especially in Arctic region

Oil & gas operators are pushing their boundaries in search of new oil & gas reserves in ultra-deepwater, especially the Artic region. In 2008, the Circum-Arctic Resource Appraisal (CARA), the US Geological Survey, estimated that 90 billion barrels of oil, 1,669 trillion cubic feet of natural gas, and 44 billion barrels of natural gas might exist in 33 Arctic provinces, of which approximately 84% are offshore. The US geographical survey estimates that the Arctic region holds nearly 30% of undiscovered gas and 13% of undiscovered oil reserves in the world. These figures seek huge investments in the Arctic region. According to the US Geological Survey, more than 70% of undiscovered oil resources are estimated to be present in 5 provinces—Arctic Alaska, Amerasia Basin, East Greenland Rift Basins, East Barents Basins, and West Greenland–East Canada. The Arctic region has seen vast levels of petroleum resource developments over the past few decades. This offers an attractive opportunity for offshore drilling service providers, as offshore drilling services aid in the drilling process in locations with lesser-known topography. Demand for AHTSs is expected to scale up in this region for supporting the oil & gas activities by 2020.

With the gradual maturity of shallow water fields, oil & gas operators are exploring deep and ultra-deepwater opportunities to meet the growing oil & gas demand. This has stimulated investments in offshore and subsea activities. The shallow water covers the majority of the market share, but the vessels used here are not capable of working in deepwater and ultra-deepwater due to harsh climatic conditions. This offers a great opportunity for manufacturers to develop technologically equipped vessels to face challenging environmental conditions. For instance, the invention of the Dynamic Positioning (DP) system for marine vessels is remarkable and has been accepted worldwide. With the changing requirements and need for upgrading, DP-1 vessels are almost in their last phase and used in crew supply vessels only. DP-2 and DP-3 vessels are more frequently used in PSVs and are gaining more importance in the market. The evolution of DP vessels is one such example of a technological upgrade that enables vessels to work in tough conditions. Hence, technological advancement is one of the key drivers fueling the growth of the offshore support vessel market.

Challenges: High operational risks for OSVs due to extreme offshore climatic conditions

The offshore industry involves high operational risks. Support vessels carry hazardous and noxious liquid in bulk. For instance, the backloading and carriage of hazardous oil-contaminated cargo, known as “slops” or “wet bulk waste,” can cause fatalities, despite industry guidelines. These can also cause environmental risks, and hence, the players of the offshore support vessel market must abide by certain policies of the Safety of Life at Sea (SOLAS) and Prevention of Pollution from Ships (MARPOL). The risks associated with working offshore can be mainly attributed to time and season. Moreover, geographical distribution and sea conditions can put the ship and crew in high-risk situations. A study by ResearchGate, “A statistical review of the risk associated with offshore support vessel/platform encounters in UK waters” shows that safety culture in terms of good seamanship by vessel masters is probably responsible for mitigating the magnitude of many of the impacts that occur, and that there is a need for improvement in safety performance. The issues pertaining to the human element, the availability and reliability of data, the risk criteria, and the safety culture play a crucial role in the context of marine and offshore risk assessment.

Market Interconnection

Offshore Support Vessel Market by Interconnection

By type, the AHTS segment is the largest contributor in the offshore support vessel market in 2020.

Anchor-handling tug supply (AHTS) vessels constitute the largest segment of the offshore support vessel market, by type, in terms of volume as well as value. AHTS vessels are designed to provide anchor-handling and towage services and are also used for supplying deck cargo, water, fuel, dry bulk, and mud-to-oil rigs and platforms. These vessels can also be used for emergencies and are well equipped for firefighting, rescue, and oil recovery operations. The majority of the smaller AHTS vessels are operated in the Asia Pacific region, whereas larger AHTS vessels are highly concentrated in the South American and European regions, owing to the presence of deepwater oil & gas reserves in these regions. In the Middle East, the fleet comprises small AHTS vessels capable of functioning in shallow water areas. According to OpenSea.pro, a marketplace for online ship chartering, the average age of AHTS fleets employed worldwide has decreased due to the inclusion of new vessels; yet about 20% of the current fleets is older than 25 years, making them non-competitive in the low utilization and low day rate market conditions.

By end-user, offshore wind expected to be the fastest growing market during the forecast period.

The power generated through offshore wind is higher than the onshore wind farms because offshore winds blow more uniformly compared to the winds on land. Offshore support vessels act as a transportation solution for the offshore wind farm industry; they assist operators in transporting turbines at offshore locations. Offshore support vessels such as Anchor Handling Tug Supply (AHTS), Platform Support Vessel (PSV), and fast supply vessels can assist in erecting, installing, and maintaining these turbines, and finally, dismantling offshore wind farms. These vessels can also move goods from land to offshore wind farms. The increasing deployment of these large turbines in deepwaters drives the demand for AHTS and PSVs.  Many offshore wind operators are teaming up with oil and gas companies to address the increasing demand for energy. For instance, in 2020, the Norwegian petroleum ministry approved Equinor’s plan to build a floating offshore wind farm in the North Sea to provide power to 5 oil and gas platforms. Furthermore, Total is also venturing into the renewables sector, with a plan to develop 25GW in wind energy capacity by 2025. The company is also a part of the Erebus offshore wind project, which delivered a 100MW floating wind farm off the coast of Wales.

Offshore Support Vessel Market by Region

Asia Pacific accounted for the largest share of the offshore support vessel market in 2020 .

The major economies in Asia Pacific, such as China, India, Indonesia, Malaysia, Vietnam, and Thailand, are focusing on increasing their offshore E&P CAPEX. According to Scottish Development International, the CAPEX for new offshore developments in Asia Pacific is set to be about 25% of the global spending, making the region an important part of the offshore industry. Various policymakers in the region are prioritizing new offshore activities in deep and ultra-deep waters. The most important of these new offshore developments include Australia’s Briseis, Scarborough, and Laverda projects; Malaysia’s Rotan, Gumusut-Kakap, and Petai projects; India’s KG-D6 complex; and Indonesia’s Gehem project. Moreover, the count of offshore support vessels is also growing in the region due to an increase in the number of vessel manufacturers in the market, especially from China and South Korea.

Scope of the report

Report Metric

Details

Market Size available for years

2019–2026

Base year considered

2020

Forecast period

2021–2026

Forecast units

Value (USD)

Segments covered

Type, application, end-user, and region

Geographies covered

Asia Pacific, North America, Europe, Middle East,  Africa, and South America

Companies covered

Maersk (Denmark), BOURBON (France), Ostenjso Rederi (Norway), MMA Offshore (Australia), SEACOR Marine (US), Solstad Offshore (Norway), Tidewater (US), PACC Offshore Services Holdings (Switzerland), DOF Group (Norway), Vroon Group (Netherlands), Siem Offshore (Norway), Swire Pacific (UK), Grupo CBO (Brazil), Royal IHC (Netherlands), Edison Chouest Offshore (US), Havila Shipping (Norway), Nam Cheong Limited (Malaysia), Kawasaki Kisen Kaisha (Japan), Harvey Gulf International Marine (US), and GC Rieber (Norway)

This research report categorizes the offshore support vessel market-based on type, application, end-users, and region

On the basis of type, the offshore support vessel market has been segmented as follows:

  • Anchor-handling tug supply vessels
  • Platform support vessels
  • Multipurpose support vessels
  • Emergency response/standby and rescue vessels
  • Crew vessels
  • Seismic vessels
  • Chase vessels
  • Others (include diving support vessels (DSVs), remotely operated vessels (ROVs), cable and pipe laying vessels, well stimulation vessels, and well intervention vessels)

On the basis of application, the offshore support vessel market has been segmented as follows:

  • Shallow water
  • Deepwater

On the basis of end user, the offshore support vessel market has been segmented as follows:

  • Oil & gas
  • Offshore wind

On the basis of region, the offshore support vessel market has been segmented as follows:

  • North America
  • Asia Pacific
  • Europe
  • Middle East
  • Africa
  • South America

Recent Developments

  • In March 2021, Ostensjo Rederi received a contract from Edda Wind for two additional commissioning service operation vessels (CSOV), along with four vessels being constructed by it. These vessels are specially designed for service operations during the commissioning and operation of offshore wind farms. All six vessels being developed are based on zero-emission technology.
  • In March 2021, Vroon Offshore Services, a subsidiary of Vroon Group, received a contract from PSE Kinsale Energy Limited (KEL) for emergency response and rescue vessel (ERRV) VOS Pathfinder. The contract is for decommissioning campaign at the Kinsale area gas fields offshore Ireland.
  • In December 2020, Siem Offshore launched its first hybrid vessel, Siem Symphony. This vessel is fitted with a 600 kWh chargeable battery pack as an additional power supply, which lowers the fuel consumption of the vessel substantially. It is especially effective during standby mode, when positioned dynamically, or when placed in ports.
  • In November 2020, Grupo CBO and Wartsila partnered to transform a vessel in the CBO fleet by enabling the use of hybrid propulsion for its operations. The CBO Flamengo is expected to be the first ship in Latin America to be equipped with a battery for hybrid propulsion. This is expected to improve the energy consumption of the ship and reduce its carbon footprint.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 33)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
           1.2.1 OFFSHORE SUPPORT VESSEL MARKET: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKET SEGMENTATION
                    FIGURE 1 MARKET COVERED: OFFSHORE SUPPORT VESSEL MARKET
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATION
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA
           FIGURE 2 OFFSHORE SUPPORT VESSEL MARKET: RESEARCH DESIGN
           2.1.1 MARKET BREAKDOWN & DATA TRIANGULATION
                    FIGURE 3 DATA TRIANGULATION METHODOLOGY
           2.1.2 SECONDARY DATA
                    2.1.2.1 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Key industry insights
                    2.1.3.2 Breakdown of primaries
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE,  DESIGNATION, & REGION
                               TABLE 1 OFFSHORE SUPPORT VESSEL MARKET: PLAYERS/COMPANIES CONNECTED
    2.2 IMPACT OF COVID-19 ON OIL & GAS INDUSTRY
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.4 DEMAND-SIDE METRICS
           FIGURE 7 MAIN METRICS CONSIDERED WHILE CONSTRUCTING AND ASSESSING  DEMAND FOR OFFSHORE SUPPORT VESSEL
           2.4.1 RESEARCH ASSUMPTIONS FOR DEMAND-SIDE METRICS
           2.4.2 LIMITATIONS FOR DEMAND-SIDE METRICS
    2.5 SUPPLY-SIDE ANALYSIS
           FIGURE 8 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF OFFSHORE SUPPORT VESSELS
           FIGURE 9 OFFSHORE SUPPORT VESSELS MARKET: SUPPLY-SIDE ANALYSIS, 2020
           2.5.1 CALCULATIONS FOR SUPPLY SIDE
           2.5.2 ASSUMPTIONS FOR SUPPLY SIDE
                    2.5.2.1 Key primary insights for supply side
    2.6 FORECAST

3 EXECUTIVE SUMMARY (Page No. - 49)
    TABLE 2 GLOBAL OFFSHORE SUPPORT VESSEL MARKET SNAPSHOT
    FIGURE 10 AHTS SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF OFFSHORE SUPPORT VESSEL MARKET DURING FORECAST PERIOD
    FIGURE 11 SHALLOW WATER SEGMENT HELD LARGER SHARE OF OFFSHORE SUPPORT VESSEL MARKET IN 2020
    FIGURE 12 OFFSHORE WIND SEGMENT TO GROW AT HIGHER CAGR IN OFFSHORE SUPPORT VESSEL FROM 2021 TO 2026
    FIGURE 13 ASIA PACIFIC DOMINATED OFFSHORE SUPPORT VESSEL MARKET IN 2020

4 PREMIUM INSIGHTS (Page No. - 54)
    4.1 ATTRACTIVE MARKET OPPORTUNITIES IN OFFSHORE SUPPORT VESSEL MARKET
           FIGURE 14 INCREASED ULTRA-DEEPWATER EXPLORATION ACTIVITIES, ESPECIALLY IN ARCTIC REGION IS EXPECTIVE TO DRIVE OFFSHORE SUPPORT VESSEL MARKET GROWTH DURING FORECAST PERIOD
    4.2 OFFSHORE SUPPORT VESSEL MARKET, BY TYPE
           FIGURE 15 AHTS SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGEST SHARE OF OFFSHORE SUPPORT VESSEL MARKET DURING FORECAST PERIOD
    4.3 OFFSHORE SUPPORT VESSEL MARKET, BY APPLICATION
           FIGURE 16 SHALLOW WATER SEGMENT IS EXPECTED TO CONTINUE TO ACCOUNT FOR LARGER SHARE OF MARKET DURING FORECAST PERIOD
    4.4 OFFSHORE SUPPORT VESSEL MARKET, BY END USER
           FIGURE 17 OIL & GAS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
    4.5 OFFSHORE SUPPORT VESSEL MARKET, BY REGION
           FIGURE 18 ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING  FORECAST PERIOD
    4.6 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC,  BY END USER AND COUNTRY
           FIGURE 19 OIL & GAS SEGMENT AND INDIA DOMINATED OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC IN 2020

5 MARKET OVERVIEW (Page No. - 58)
    5.1 INTRODUCTION
    5.2 COVID-19 HEALTH ASSESSMENT
           FIGURE 20 COVID-19: GLOBAL PROPAGATION
           FIGURE 21 COVID-19 PROPAGATION IN SELECT COUNTRIES
    5.3 ROAD TO RECOVERY
           FIGURE 22 RECOVERY ROAD FOR IN 2020
    5.4 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 23 REVISED GDP FORECAST FOR SELECT G20 COUNTRIES IN 2020
    5.5 MARKET DYNAMICS
           FIGURE 24 OFFSHORE SUPPORT VESSEL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.5.1 DRIVERS
                    5.5.1.1 Increasing investments for offshore wind farm construction, combined with development of offshore oil & gas reserves
                               TABLE 3 MAJOR OFFSHORE PROJECTS & CONTRACTS
                               FIGURE 25 EUROPE’S CUMULATIVE INSTALLED OFFSHORE WIND CAPACITY, 2011–2020
                               FIGURE 26 CUMULATIVE INSTALLED CAPACITY SHARE, BY SEA BASIN (2020)
           5.5.2 RESTRAINTS
                    5.5.2.1 Fluctuating oil prices and huge capital requirements for offshore projects
                               FIGURE 27 WEST TEXAS INTERMEDIATE (WTI) CRUDE OIL PRICE, JANUARY 2018–MARCH 2021
                    5.5.2.2 Oversupply of vessels due to declined demand for OSVs
                               FIGURE 28 NORTH SEA SPOT AVERAGE UTILIZATION RATE
           5.5.3 OPPORTUNITIES
                    5.5.3.1 Aging offshore infrastructure leading to replacements and decommissions
                    5.5.3.2 Increased ultra-deepwater exploration activities, especially in Arctic region
           5.5.4 CHALLENGES
                    5.5.4.1 High operational risks for OSVs due to extreme offshore climatic conditions
                    5.5.4.2 Growing stringency of regulations for offshore activities in key regions
           TABLE 4 CABOTAGE LAWS FOR OFFSHORE ACTIVITIES
                    5.5.4.3 Impact of COVID-19 on offshore support vessel industry
    5.6 TRENDS
           5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN OFFSHORE SUPPORT VESSEL
                    FIGURE 29 REVENUE SHIFT FOR OFFSHORE SUPPORT VESSEL PROVIDERS
    5.7 MARKET MAP
           FIGURE 30 OFFSHORE SUPPORT VESSELS MARKET MAP
    5.8 AVERAGE DAY RATE
           TABLE 5 OFFSHORE SUPPORT VESSEL MARKET: NORTH SEA AVERAGE RATES (USD)
    5.9 SUPPLY CHAIN OVERVIEW
           FIGURE 31 OFFSHORE SUPPORT VESSEL MARKET SUPPLY CHAIN
           TABLE 6 OFFSHORE SUPPORT VESSEL MARKET: SUPPLY CHAIN/ECOSYSTEM
           5.9.1 KEY INFLUENCERS
                    5.9.1.1 Offshore support vessel providers
                    5.9.1.2 Brokers
                    5.9.1.3 End users
    5.10 CASE STUDY ANALYSIS
           5.10.1 OFFSHORE SUPPORT VESSEL BOARDED WITH BATTERY ENERGY STORAGE SYSTEM
                    5.10.1.1 Eidesvik Offshore equipped its OSV with onboard battery energy storage system to reduce fuel consumption
                               5.10.1.1.1 Objective
                               5.10.1.1.2 Solution statement
    5.11 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 32 PORTER’S FIVE FORCES ANALYSIS FOR OFFSHORE SUPPORT VESSEL MARKET
           TABLE 7 OFFSHORE SUPPORT VESSEL MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.11.1 THREAT OF SUBSTITUTES
           5.11.2 BARGAINING POWER OF SUPPLIERS
           5.11.3 BARGAINING POWER OF BUYERS
           5.11.4 THREAT OF NEW ENTRANTS
           5.11.5 INTENSITY OF COMPETITIVE RIVALRY

6 OFFSHORE SUPPORT VESSEL MARKET, BY TYPE (Page No. - 77)
    6.1 INTRODUCTION
           FIGURE 33 ANCHOR HANDLING TUG SUPPLY VESSEL SEGMENT ACCOUNTED FOR LARGEST SHARE OF OFFSHORE SUPPORT VESSEL MARKET, BY TYPE, IN 2020 (VALUE)
    6.2 VOLUME & VALUE MARKET ANALYSIS
           6.2.1 BY VOLUME
                    TABLE 8 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY TYPE, 2016–2019 (UNITS)
                    TABLE 9 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY TYPE, 2020–2026 (UNITS)
                    TABLE 10 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY TYPE, 2016–2019 (UNITS)
                    TABLE 11 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY TYPE, 2020–2026 (UNITS)
           6.2.2 BY VALUE
                    TABLE 12 OFFSHORE SUPPORT VESSEL MARKET, BY TYPE, 2016–2019 (USD MILLION)
                    TABLE 13 OFFSHORE SUPPORT VESSEL MARKET, BY TYPE, 2020–2026 (USD MILLION)
    6.3 ANCHOR HANDLING TUG SUPPLY VESSEL
           6.3.1 RISING SHALLOW WATER ACTIVITIES DRIVE DEMAND FOR ANCHOR HANDLING TUG SUPPLY VESSELS
           6.3.2 BY VOLUME
                    TABLE 14 SUPPLY SIDE: ANCHOR HANDLING TUG SUPPLY VESSEL MARKET, BY REGION,  2016–2019 (UNITS)
                    TABLE 15 SUPPLY SIDE: ANCHOR HANDLING TUG SUPPLY VESSEL MARKET, BY REGION,  2020–2026 (UNITS)
                    TABLE 16 DEMAND SIDE: ANCHOR HANDLING TUG SUPPLY VESSEL MARKET,  BY REGION, 2016–2019 (UNITS)
                    TABLE 17 DEMAND SIDE: ANCHOR HANDLING TUG SUPPLY VESSEL MARKET,  BY REGION, 2020–2026 (UNITS)
           6.3.3 BY VALUE
                    TABLE 18 ANCHOR HANDLING TUG SUPPLY VESSEL MARKET, BY REGION,  2016–2019 (USD MILLION)
                    TABLE 19 ANCHOR HANDLING TUG SUPPLY VESSEL MARKET, BY REGION,  2020–2026 (USD MILLION)
    6.4 PLATFORM SUPPLY VESSEL
           6.4.1 INCREASING OFFSHORE DRILLING OPERATIONS GENERATE DEMAND FOR PLATFORM SUPPLY VESSELS
           6.4.2 BY VOLUME
                    TABLE 20 SUPPLY SIDE: PLATFORM SUPPLY VESSEL MARKET, BY REGION,2016–2019 (UNITS)
                    TABLE 21 SUPPLY SIDE: PLATFORM SUPPLY VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
                    TABLE 22 DEMAND SIDE: PLATFORM SUPPLY VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 23 DEMAND SIDE: PLATFORM SUPPLY VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
           6.4.3 BY VALUE
                    TABLE 24 PLATFORM SUPPLY VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 25 PLATFORM SUPPLY VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)
    6.5 MULTI-PURPOSE SUPPORT VESSEL
           6.5.1 SURGING INVESTMENTS IN SUBSEA OIL & GAS DEVELOPMENTS TO FUEL DEMAND FOR MULTI-PURPOSE SUPPORT VESSELS
           6.5.2 BY VOLUME
                    TABLE 26 SUPPLY SIDE: MULTI-PURPOSE SUPPORT VESSEL MARKET, BY REGION,  2016–2019 (UNITS)
                    TABLE 27 SUPPLY SIDE: MULTI-PURPOSE SUPPORT VESSEL MARKET, BY REGION,  2020–2026 (UNITS)
                    TABLE 28 DEMAND SIDE: MULTI-PURPOSE SUPPORT VESSEL MARKET, BY REGION,  2016–2019 (UNITS)
                    TABLE 29 DEMAND SIDE: MULTI-PURPOSE SUPPORT VESSEL MARKET, BY REGION,  2020–2026 (UNITS)
           6.5.3 BY VALUE
                    TABLE 30 MULTI-PURPOSE SUPPORT VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 31 MULTI-PURPOSE SUPPORT VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)
    6.6 STANDBY & RESCUE VESSEL
           6.6.1 GROWING STRINGENCY OF SAFETY AND OFFSHORE OPERATION REGULATIONS SUBSTANTIATE DEMAND FOR STANDBY AND RESCUE VESSELS
           6.6.2 BY VOLUME
                    TABLE 32 SUPPLY SIDE: STANDBY & RESCUE VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 33 SUPPLY SIDE: STANDBY & RESCUE VESSEL MARKET, BY REGION,  2020–2026 (USD MILLION)
                    TABLE 34 DEMAND SIDE: STANDBY & RESCUE VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 35 DEMAND SIDE: STANDBY & RESCUE VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
           6.6.3 BY VALUE
                    TABLE 36 STANDBY & RESCUE VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 37 STANDBY & RESCUE VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)
    6.7 CREW VESSEL
           6.7.1 INCREASING NUMBER OF OFFSHORE RIGS IN ASIA PACIFIC AND MIDDLE EAST IS EXPECTED TO PROPEL GROWTH OF MARKET CREW VESSEL MARKET
           6.7.2 BY VOLUME
                    TABLE 38 SUPPLY SIDE: CREW VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 39 SUPPLY SIDE: CREW VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
                    TABLE 40 DEMAND SIDE: CREW VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 41 DEMAND SIDE: CREW VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
           6.7.3 BY VALUE
                    TABLE 42 CREW VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 43 CREW VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)
    6.8 SEISMIC VESSEL
           6.8.1 UNRELENTING EFFORTS TO LOCATE UNDISCOVERED OIL AND GAS RESERVES TO DRIVE DEMAND FOR SEISMIC VESSELS
           6.8.2 BY VOLUME
                    TABLE 44 SUPPLY SIDE: SEISMIC VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 45 SUPPLY SIDE: SEISMIC VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
                    TABLE 46 DEMAND SIDE: SEISMIC VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 47 DEMAND SIDE: SEISMIC VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
           6.8.3 BY VALUE
                    TABLE 48 SEISMIC VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 49 SEISMIC VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)
    6.9 CHASE VESSEL
           6.9.1 RISING NEED FOR SAFETY OF OPERATIONS AND PROTECTION OF SURVEY EQUIPMENT AUGMENT DEMAND FOR CHASE VESSELS
           6.9.2 BY VOLUME
                    TABLE 50 SUPPLY SIDE: CHASE VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 51 SUPPLY SIDE: CHASE VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
                    TABLE 52 DEMAND SIDE: CHASE VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 53 DEMAND SIDE: CHASE VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
           6.9.3 BY VALUE
                    TABLE 54 CHASE VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 55 CHASE VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)
    6.10 OTHERS
           6.10.1 BY VOLUME
                    TABLE 56 SUPPLY SIDE: OTHER OFFSHORE SUPPORT VESSEL MARKET, BY REGION,  2016–2019 (UNITS)
                    TABLE 57 SUPPLY SIDE: OTHER OFFSHORE SUPPORT VESSEL MARKET, BY REGION,  2020–2026 (UNITS)
                    TABLE 58 DEMAND SIDE: OTHER OFFSHORE SUPPORT VESSEL MARKET, BY REGION,  2016–2019 (UNITS)
                    TABLE 59 DEMAND SIDE: OTHER OFFSHORE SUPPORT VESSEL MARKET, BY REGION,  2020–2026 (UNITS)
           6.10.2 BY VALUE
                    TABLE 60 OTHER OFFSHORE SUPPORT VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 61 OTHER OFFSHORE SUPPORT VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)

7 OFFSHORE SUPPORT VESSEL MARKET, BY APPLICATION (Page No. - 104)
    7.1 INTRODUCTION
           FIGURE 34 SHALLOW WATER SEGMENT ACCOUNTED FOR LARGER SHARE OF OFFSHORE SUPPORT VESSEL MARKET IN 2020
           TABLE 62 OFFSHORE SUPPORT VESSEL MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
           TABLE 63 OFFSHORE SUPPORT VESSEL MARKET, BY APPLICATION, 2020–2026 (USD MILLION)
    7.2 SHALLOW WATER
           7.2.1 INCREASING INVESTMENTS IN OFFSHORE SHALLOW WATER ACTIVITIES IS DRIVING MARKET GROWTH
                    TABLE 64 OFFSHORE SUPPORT VESSEL MARKET FOR SHALLOW WATER, BY REGION,  2016–2019 (USD MILLION)
                    TABLE 65 OFFSHORE SUPPORT VESSEL MARKET FOR SHALLOW WATER, BY REGION,  2020–2026 (USD MILLION)
    7.3 DEEPWATER
           7.3.1 NEW E&P ACTIVITIES IN DEEPWATER OFFSHORE AREAS ARE FUELING MARKET GROWTH
                    TABLE 66 OFFSHORE SUPPORT VESSEL MARKET FOR DEEPWATER, BY REGION,  2016–2019 (USD MILLION)
                    TABLE 67 OFFSHORE SUPPORT VESSEL MARKET FOR DEEPWATER, BY REGION,  2020–2026 (USD MILLION)

8 OFFSHORE SUPPORT VESSEL MARKET, BY END USER (Page No. - 109)
    8.1 INTRODUCTION
           FIGURE 35 OIL & GAS SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2020
           TABLE 68 OFFSHORE SUPPORT VESSEL MARKET, BY END USER, 2016–2019 (USD MILLION)
           TABLE 69 OFFSHORE SUPPORT VESSEL MARKET, BY END USER, 2020–2026 (USD MILLION)
    8.2 OIL & GAS
           8.2.1 INCREASING OIL AND GAS DECOMMISSIONING PROJECTS FUELING DEMAND FOR OFFSHORE SUPPORT VESSELS
                    TABLE 70 OFFSHORE SUPPORT VESSEL MARKET FOR OIL & GAS, BY REGION,  2016–2019 (USD MILLION)
                    TABLE 71 OFFSHORE SUPPORT VESSEL MARKET FOR OIL & GAS, BY REGION,  2020–2026 (USD MILLION)
    8.3 OFFSHORE WIND
           8.3.1 INCREASING DEPLOYMENT OF OFFSHORE WIND FARMS IN EUROPE IS LIKELY TO INCREASE DEMAND FOR OFFSHORE SUPPORT VESSELS
                    TABLE 72 OFFSHORE SUPPORT VESSEL MARKET FOR OFFSHORE WIND, BY REGION,  2016–2019 (USD MILLION)
                    TABLE 73 OFFSHORE SUPPORT VESSEL MARKET FOR OFFSHORE WIND, BY REGION,  2020–2026 (USD MILLION)

9 GEOGRAPHIC ANALYSIS (Page No. - 114)
    9.1 INTRODUCTION
           FIGURE 36 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           FIGURE 37 ASIA PACIFIC HELD LARGEST SHARE OF OFFSHORE SUPPORT VESSEL MARKET,  BY REGION, IN 2020 (VALUE)
    9.2 VOLUME & VALUE MARKET ANALYSIS
           9.2.1 BY VOLUME
                    TABLE 74 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY REGION,2016–2019 (UNITS)
                    TABLE 75 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
                    TABLE 76 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY REGION, 2016–2019 (UNITS)
                    TABLE 77 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET, BY REGION, 2020–2026 (UNITS)
           9.2.2 BY VALUE
                    TABLE 78 OFFSHORE SUPPORT VESSEL MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 79 OFFSHORE SUPPORT VESSEL MARKET, BY REGION, 2020–2026 (USD MILLION)
    9.3 ASIA PACIFIC
           FIGURE 38 SNAPSHOT: OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC
           9.3.1 BY TYPE
                    9.3.1.1 By volume
                               TABLE 80 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY TYPE,  2016–2019 (UNITS)
                               TABLE 81 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY TYPE,  2020–2026 (UNITS)
                               TABLE 82 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY TYPE,  2016–2019 (UNITS)
                               TABLE 83 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY TYPE,  2020–2026 (UNITS)
                    9.3.1.2 By value
                               TABLE 84 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY TYPE,  2016–2019 (USD MILLION)
                               TABLE 85 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY TYPE,  2020–2026 (USD MILLION)
           9.3.2 BY APPLICATION
                    TABLE 86 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY APPLICATION,  2016–2019 (USD MILLION)
                    TABLE 87 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY APPLICATION,  2020–2026 (USD MILLION)
           9.3.3 BY END USER
                    TABLE 88 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY END USER,  2016–2019 (USD MILLION)
                    TABLE 89 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY END USER,  2020–2026 (USD MILLION)
           9.3.4 BY COUNTRY
                    TABLE 90 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY COUNTRY,  2016–2019 (USD MILLION)
                    TABLE 91 OFFSHORE SUPPORT VESSEL MARKET IN ASIA PACIFIC, BY COUNTRY,  2020–2026 (USD MILLION)
                    9.3.4.1 India
                               9.3.4.1.1 Development of oil and gas fields to boost demand for OSVs in India
                                            TABLE 92 OFFSHORE SUPPORT VESSEL MARKET IN INDIA, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 93 OFFSHORE SUPPORT VESSEL MARKET IN INDIA, BY END USER,  2020–2026 (USD MILLION)
                    9.3.4.2 China
                               9.3.4.2.1 Deepwater drilling activities and shale exploration & production are likely to drive OSV market growth in China
                                            TABLE 94 OFFSHORE SUPPORT VESSEL MARKET IN CHINA, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 95 OFFSHORE SUPPORT VESSEL MARKET IN CHINA, BY END USER,  2020–2026 (USD MILLION)
                    9.3.4.3 Thailand
                               9.3.4.3.1 Rising investments to boost oil & gas production to fuel market growth in Thailand
                                            TABLE 96 OFFSHORE SUPPORT VESSEL MARKET IN THAILAND, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 97 OFFSHORE SUPPORT VESSEL MARKET IN THAILAND, BY END USER, 2020–2026 (USD MILLION)
                    9.3.4.4 Malaysia
                               9.3.4.4.1 Discovery of new oilfields is likely to offer opportunities for OSV market growth in Malaysia
                                            TABLE 98 OFFSHORE SUPPORT VESSEL MARKET IN MALAYSIA, BY END USER,2016–2019 (USD MILLION)
                                            TABLE 99 OFFSHORE SUPPORT VESSEL MARKET IN MALAYSIA, BY END USER,  2020–2026 (USD MILLION)
                    9.3.4.5 Vietnam
                               9.3.4.5.1 Government initiatives to boost oil and gas production to support market growth in Vietnam
                                            TABLE 100 OFFSHORE SUPPORT VESSEL MARKET IN VIETNAM, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 101 OFFSHORE SUPPORT VESSEL MARKET IN VIETNAM, BY END USER,  2020–2026 (USD MILLION)
                    9.3.4.6 Rest of Asia Pacific
                               TABLE 102 OFFSHORE SUPPORT VESSEL MARKET IN REST OF ASIA PACIFIC, BY END USER,  2016–2019 (USD MILLION)
                               TABLE 103 OFFSHORE SUPPORT VESSEL MARKET IN REST OF ASIA PACIFIC, BY END USER,  2020–2026 (USD MILLION)
    9.4 EUROPE
           FIGURE 39 SNAPSHOT: OFFSHORE SUPPORT VESSEL MARKET IN EUROPE
           9.4.1 BY TYPE
                    9.4.1.1 By volume
                               TABLE 104 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY TYPE,  2016–2019 (UNITS)
                               TABLE 105 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY TYPE,  2020–2026 (UNITS)
                               TABLE 106 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY TYPE,  2016–2019 (UNITS)
                               TABLE 107 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY TYPE,  2020–2026 (UNITS)
                    9.4.1.2 By value
                               TABLE 108 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY TYPE, 2016–2019 (USD MILLION)
                               TABLE 109 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY TYPE, 2020–2026 (USD MILLION)
           9.4.2 BY APPLICATION
                    TABLE 110 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY APPLICATION,  2016–2019 (USD MILLION)
                    TABLE 111 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY APPLICATION,  2020–2026 (USD MILLION)
           9.4.3 BY END USER
                    TABLE 112 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY END USER,  2016–2019 (USD MILLION)
                    TABLE 113 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY END USER,  2020–2026 (USD MILLION)
           9.4.4 BY COUNTRY
                    TABLE 114 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY COUNTRY,  2016–2019 (USD MILLION)
                    TABLE 115 OFFSHORE SUPPORT VESSEL MARKET IN EUROPE, BY COUNTRY,  2020–2026 (USD MILLION)
                    9.4.4.1 Norway
                               9.4.4.1.1 Growing activities in Norwegian continental shelf to fuel demand for OSVs in Norway
                                            TABLE 116 OFFSHORE SUPPORT VESSEL MARKET IN NORWAY, BY END USER, 2016–2019 (USD MILLION)
                                            TABLE 117 OFFSHORE SUPPORT VESSEL MARKET IN NORWAY, BY END USER,  2020–2026 (USD MILLION)
                    9.4.4.2 UK
                               9.4.4.2.1 Increasing development of offshore wind farms anticipated to drive market for OSVs in UK
                                            TABLE 118 OFFSHORE SUPPORT VESSEL MARKET IN UK, BY END USER, 2016–2019 (USD MILLION)
                                            TABLE 119 OFFSHORE SUPPORT VESSEL MARKET IN UK, BY END USER, 2020–2026 (USD MILLION)
                    9.4.4.3 Netherlands
                               9.4.4.3.1 Increased focus on offshore windfarm development likely to drive market growth in Netherlands
                                            TABLE 120 OFFSHORE SUPPORT VESSEL MARKET IN NETHERLANDS, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 121 OFFSHORE SUPPORT VESSEL MARKET IN NETHERLANDS, BY END USER,  2020–2026 (USD MILLION)
                    9.4.4.4 Rest of Europe
                               TABLE 122 OFFSHORE SUPPORT VESSEL MARKET IN REST OF EUROPE, BY END USER,  2016–2019 (USD MILLION)
                               TABLE 123 OFFSHORE SUPPORT VESSEL MARKET IN REST OF EUROPE, BY END USER,  2020–2026 (USD MILLION)
    9.5 NORTH AMERICA
           9.5.1 BY TYPE
                    9.5.1.1 By volume
                               TABLE 124 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY TYPE, 2016–2019 (UNITS)
                               TABLE 125 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA,BY TYPE, 2020–2026 (UNITS)
                               TABLE 126 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY TYPE, 2016–2019 (UNITS)
                               TABLE 127 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY TYPE, 2020–2026 (UNITS)
                    9.5.1.2 By value
                               TABLE 128 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY TYPE,  2016–2019 (USD MILLION)
                               TABLE 129 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY TYPE,  2020–2026 (USD MILLION)
           9.5.2 BY APPLICATION
                    TABLE 130 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY APPLICATION,  2016–2019 (USD MILLION)
                    TABLE 131 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY APPLICATION,  2020–2026 (USD MILLION)
           9.5.3 BY END USER
                    TABLE 132 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY END USER,  2016–2019 (USD MILLION)
                    TABLE 133 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY END USER,  2020–2026 (USD MILLION)
           9.5.4 BY COUNTRY
                    TABLE 134 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY COUNTRY,  2016–2019 (USD MILLION)
                    TABLE 135 OFFSHORE SUPPORT VESSEL MARKET IN NORTH AMERICA, BY COUNTRY,  2020–2026 (USD MILLION)
                    9.5.4.1 US
                               9.5.4.1.1 Increase in offshore farm development to drive demand for OSVs in US
                                            TABLE 136 OFFSHORE SUPPORT VESSEL MARKET IN US, BY END USER, 2016–2019 (USD MILLION)
                                            TABLE 137 OFFSHORE SUPPORT VESSEL MARKET IN US, BY END USER, 2020–2026 (USD MILLION)
                    9.5.4.2 Canada
                               9.5.4.2.1 Government initiatives for developing renewables sector to boost demand for OSVs in Canada
                                            TABLE 138 OFFSHORE SUPPORT VESSEL MARKET IN CANADA, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 139 OFFSHORE SUPPORT VESSEL MARKET IN CANADA, BY END USER,  2020–2026 (USD MILLION)
                    9.5.4.3 Mexico
                               9.5.4.3.1 Recent discoveries of oil and gas reserves to generate demand for OSVs in Mexico
                                            TABLE 140 OFFSHORE SUPPORT VESSEL MARKET IN MEXICO, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 141 OFFSHORE SUPPORT VESSEL MARKET IN MEXICO, BY END USER,  2020–2026 (USD MILLION)
    9.6 SOUTH AMERICA
           9.6.1 BY TYPE
                    9.6.1.1 By volume
                               TABLE 142 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY TYPE, 2016–2019 (UNITS)
                               TABLE 143 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY TYPE, 2020–2026 (UNITS)
                               TABLE 144 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY TYPE, 2016–2019 (UNITS)
                               TABLE 145 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY TYPE, 2020–2026 (UNITS)
                    9.6.1.2 By value
                               TABLE 146 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY TYPE,  2016–2019 (USD MILLION)
                               TABLE 147 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY TYPE,  2020–2026 (USD MILLION)
           9.6.2 BY APPLICATION
                    TABLE 148 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY APPLICATION,  2016–2019 (USD MILLION)
                    TABLE 149 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY APPLICATION,  2020–2026 (USD MILLION)
           9.6.3 BY END USER
                    TABLE 150 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY END USER,  2016–2019 (USD MILLION)
                    TABLE 151 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY END USER,  2020–2026 (USD MILLION)
           9.6.4 BY COUNTRY
                    TABLE 152 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY COUNTRY,  2016–2019 (USD MILLION)
                    TABLE 153 OFFSHORE SUPPORT VESSEL MARKET IN SOUTH AMERICA, BY COUNTRY,  2020–2026 (USD MILLION)
                    9.6.4.1 Brazil
                               9.6.4.1.1 Increasing production activities from new wells to drive OSV market growth in Brazil
                                            TABLE 154 OFFSHORE SUPPORT VESSEL MARKET IN BRAZIL, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 155 OFFSHORE SUPPORT VESSEL MARKET IN BRAZIL, BY END USER,  2020–2026 (USD MILLION)
                    9.6.4.2 Venezuela
                               9.6.4.2.1 Increasing offshore natural gas projects are likely to create potential demand for OSVs in Venezuela
                                            TABLE 156 OFFSHORE SUPPORT VESSEL MARKET IN VENEZUELA, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 157 OFFSHORE SUPPORT VESSEL MARKET IN VENEZUELA, BY END USER,  2020–2026 (USD MILLION)
                    9.6.4.3 Rest of South America
                               TABLE 158 OFFSHORE SUPPORT VESSEL MARKET IN REST OF SOUTH AMERICA, BY END USER,  2016–2019 (USD MILLION)
                               TABLE 159 OFFSHORE SUPPORT VESSEL MARKET IN REST OF SOUTH AMERICA, BY END USER, 2020–2026 (USD MILLION)
    9.7 AFRICA
           9.7.1 BY TYPE
                    9.7.1.1 By volume
                               TABLE 160 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY TYPE,  2016–2019 (UNITS)
                               TABLE 161 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY TYPE,  2020–2026 (UNITS)
                               TABLE 162 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY TYPE,  2016–2019 (UNITS)
                               TABLE 163 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY TYPE,  2020–2026 (UNITS)
                    9.7.1.2 By value
                               TABLE 164 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY TYPE, 2016–2019 (USD MILLION)
                               TABLE 165 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY TYPE, 2020–2026 (USD MILLION)
           9.7.2 BY APPLICATION
                    TABLE 166 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY APPLICATION,  2016–2019 (USD MILLION)
                    TABLE 167 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY APPLICATION,  2020–2026 (USD MILLION)
           9.7.3 BY END USER
                    TABLE 168 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY END USER,2016–2019 (USD MILLION)
                    TABLE 169 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY END USER,  2020–2026 (USD MILLION)
           9.7.4 BY COUNTRY
                    TABLE 170 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 171 OFFSHORE SUPPORT VESSEL MARKET IN AFRICA, BY COUNTRY,  2020–2026 (USD MILLION)
                    9.7.4.1 Nigeria
                               9.7.4.1.1 Increasing investments for development of offshore facilities to drive market growth in Nigeria
                                            TABLE 172 OFFSHORE SUPPORT VESSEL MARKET IN NIGERIA, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 173 OFFSHORE SUPPORT VESSEL MARKET IN NIGERIA, BY END USER, 2020–2026 (USD MILLION)
                    9.7.4.2 Angola
                               9.7.4.2.1 Increasing deepwater construction activities to offer market growth opportunities in Angola
                                            TABLE 174 OFFSHORE SUPPORT VESSEL MARKET IN ANGOLA, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 175 OFFSHORE SUPPORT VESSEL MARKET IN ANGOLA, BY END USER,  2020–2026 (USD MILLION)
                    9.7.4.3 Rest of Africa
                               TABLE 176 OFFSHORE SUPPORT VESSEL MARKET IN REST OF AFRICA, BY END USER,  2016–2019 (USD MILLION)
                               TABLE 177 OFFSHORE SUPPORT VESSEL MARKET IN REST OF AFRICA, BY END USER,  2020–2026 (USD MILLION)
    9.8 MIDDLE EAST
           9.8.1 BY VESSEL TYPE
                    9.8.1.1 By volume
                               TABLE 178 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY TYPE,  2016–2019 (UNITS)
                               TABLE 179 SUPPLY SIDE: OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY TYPE,  2020–2026 (UNITS)
                               TABLE 180 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY TYPE,  2016–2019 (UNITS)
                               TABLE 181 DEMAND SIDE: OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY TYPE,  2020–2026 (UNITS)
                    9.8.1.2 By value
                               TABLE 182 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY TYPE,  2016–2019 (USD MILLION)
                               TABLE 183 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY TYPE,  2020–2026 (USD MILLION)
           9.8.2 BY APPLICATION
                    TABLE 184 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY APPLICATION,  2016–2019 (USD MILLION)
                    TABLE 185 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY APPLICATION,  2020–2026 (USD MILLION)
           9.8.3 BY END USER
                    TABLE 186 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY END USER,  2016–2019 (USD MILLION)
                    TABLE 187 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY END USER,  2020–2026 (USD MILLION)
           9.8.4 BY COUNTRY
                    TABLE 188 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY COUNTRY,  2016–2019 (USD MILLION)
                    TABLE 189 OFFSHORE SUPPORT VESSEL MARKET IN MIDDLE EAST, BY COUNTRY,  2020–2026 (USD MILLION)
                    9.8.4.1 Saudi Arabia
                               9.8.4.1.1 Increasing production activities in offshore fields to drive demand for OSVs in Saudi Arabia
                                            TABLE 190 OFFSHORE SUPPORT VESSEL MARKET IN SAUDI ARABIA, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 191 OFFSHORE SUPPORT VESSEL MARKET IN SAUDI ARABIA, BY END USER,  2020–2026 (USD MILLION)
                    9.8.4.2 UAE
                               9.8.4.2.1 Rapid development of new offshore oilfields likely to boost demand for OSVs
                                            TABLE 192 OFFSHORE SUPPORT VESSEL MARKET IN UAE, BY END USER, 2016–2019 (USD MILLION)
                                            TABLE 193 OFFSHORE SUPPORT VESSEL MARKET IN UAE, BY END USER, 2020–2026 (USD MILLION)
                    9.8.4.3 Qatar
                               9.8.4.3.1 Rising drilling activities are expected to drive demand for OSVs
                                            TABLE 194 OFFSHORE SUPPORT VESSEL MARKET IN QATAR, BY END USER,  2016–2019 (USD MILLION)
                                            TABLE 195 OFFSHORE SUPPORT VESSEL MARKET IN QATAR, BY END USER,  2020–2026 (USD MILLION)
                    9.8.4.4 Rest of Middle East
                               TABLE 196 OFFSHORE SUPPORT VESSEL MARKET IN REST OF MIDDLE EAST, BY END USER,  2016–2019 (USD MILLION)
                               TABLE 197 OFFSHORE SUPPORT VESSEL MARKET IN REST OF MIDDLE EAST, BY END USER,  2020–2026 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 175)
     10.1 INTRODUCTION
           FIGURE 40 KEY DEVELOPMENTS IN OFFSHORE SUPPORT VESSEL MARKET,  JANUARY 2018–MAY 2021
     10.2 SHARE ANALYSIS OF KEY PLAYERS, 2020
           TABLE 198 OFFSHORE SUPPORT VESSEL MARKET: DEGREE OF COMPETITION
           FIGURE 41 SHARE ANALYSIS OF TOP PLAYERS IN OFFSHORE SUPPORT VESSEL MARKET, 2020
     10.3 MARKET EVALUATION FRAMEWORK
           TABLE 199 MARKET EVALUATION FRAMEWORK, 2018–2021
     10.4 RECENT DEVELOPMENTS
           10.4.1 OFFSHORE SUPPORT VESSEL MARKET: PRODUCT LAUNCHES, JANUARY 2018– MAY 2021
           10.4.2 OFFSHORE SUPPORT VESSEL MARKET: DEALS, JANUARY 2018–MAY 2021
     10.5 COMPETITIVE LEADERSHIP MAPPING
           10.5.1 STAR
           10.5.2 EMERGING LEADER
           10.5.3 PERVASIVE
           10.5.4 PARTICIPANT
                      FIGURE 42 OFFSHORE SUPPORT VESSEL MARKET: COMPETITIVE LEADERSHIP MAPPING, 2020
                      TABLE 200 COMPANY TYPE FOOTPRINT
                      TABLE 201 COMPANY END USER FOOTPRINT
                      TABLE 202 COMPANY REGIONAL FOOTPRINT

11 COMPANY PROFILES (Page No. - 186)
(Business overview, Products offered, Recent developments, MnM view, Key strategies/right to win, Strategic choices made, and Weaknesses and competitive threats)* 
     11.1 KEY PLAYERS
           11.1.1 MAERSK
                      TABLE 203 MAERSK: BUSINESS OVERVIEW
           FIGURE 43 MAERSK: COMPANY SNAPSHOT
           11.1.2 BOURBON
                      TABLE 204 BOURBON: BUSINESS OVERVIEW
           11.1.3 SEACOR MARINE
                      TABLE 205 SEACOR MARINE: BUSINESS OVERVIEW
           FIGURE 44 SEACOR MARINE: COMPANY SNAPSHOT
           11.1.4 SWIRE PACIFIC
                      TABLE 206 SWIRE PACIFIC: BUSINESS OVERVIEW
                      FIGURE 45 SWIRE PACIFIC: COMPANY SNAPSHOT
           11.1.5 TIDEWATER
                      TABLE 207 TIDEWATER: BUSINESS OVERVIEW
                      FIGURE 46 TIDEWATER: COMPANY SNAPSHOT
           11.1.6 SIEM OFFSHORE
                      TABLE 208 SIEM OFFSHORE: BUSINESS OVERVIEW
                      FIGURE 47 SIEM OFFSHORE: COMPANY SNAPSHOT
           11.1.7 GRUPO CBO
                      TABLE 209 GRUPO CBO: BUSINESS OVERVIEW
                      FIGURE 48 GRUPO CBO: COMPANY SNAPSHOT
           11.1.8 HAVILA SHIPPING
                      TABLE 210 HAVILA SHIPPING: BUSINESS OVERVIEW
                      FIGURE 49 HAVILA SHIPPING: COMPANY SNAPSHOT
           11.1.9 SOLSTAD OFFSHORE
                      TABLE 211 SOLSTAD: BUSINESS OVERVIEW
                      FIGURE 50 SOLSTAD: COMPANY SNAPSHOT
           11.1.10 VROON GROUP
                      TABLE 212 VROON GROUP: BUSINESS OVERVIEW
           11.1.11 KAWASAKI KISEN KAISHA
                      TABLE 213 KAWASAKI KISEN KAISHA: BUSINESS OVERVIEW
                      FIGURE 51 KAWASAKI KISEN KAISHA: COMPANY SNAPSHOT
           11.1.12 OSTENSJO REDERI
                      TABLE 214 OSTENSJO REDERI: BUSINESS OVERVIEW
           11.1.13 NAM CHEONG LIMITED
                      TABLE 215 NAM CHEONG LIMITED: BUSINESS OVERVIEW
                      FIGURE 52 NAM CHEONG LIMITED: COMPANY SNAPSHOT
           11.1.14 MMA OFFSHORE
                      TABLE 216 MMA OFFSHORE: BUSINESS OVERVIEW
                      FIGURE 53 MMA OFFSHORE: COMPANY SNAPSHOT
           11.1.15 DOF GROUP
                      TABLE 217 DOF GROUP BUSINESS OVERVIEW
                      FIGURE 54 DOF GROUP: COMPANY SNAPSHOT
     11.2 OTHER PLAYERS
           11.2.1 HARVEY GULF INTERNATIONAL MARINE
           11.2.2 PACC OFFSHORE SERVICES HOLDINGS
           11.2.3 ROYAL IHC
           11.2.4 EDISON CHOUEST OFFSHORE
           11.2.5 GC RIEBER
*Details on Business overview, Products offered, Recent developments, MnM view, Key strategies/right to win, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies. 

12 APPENDIX (Page No. - 259)
     12.1 INSIGHTS OF INDUSTRY EXPERTS
     12.2 DISCUSSION GUIDE
     12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     12.4 AVAILABLE CUSTOMIZATIONS
     12.5 RELATED REPORTS
     12.6 AUTHOR DETAILS 
      

This study involved 4 major activities in estimating the current size of the offshore support vessel market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, market sizing, and our assumptions in arriving these with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. Thereafter, the market breakdown and data triangulation were done to estimate the market size of the segments and sub-segments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global offshore support vessel market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The offshore support vessel market comprises several stakeholders, such as OEMs, distributors, and end users in the supply chain. The demand side of this market is characterized by its end users such as operators/owners of offshore oil & gas fields and offshore wind farms. The supply side is characterized by offshore support vessel providers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Offshore Support Vessel Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global offshore support vessel market and its dependent submarkets. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Offshore support vessel market Size: Top down Approach

Offshore Support Vessel Market Size, and Top down Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the energy and power industry.

Report Objectives

  • To define, describe, and forecast the size of the offshore support vessel market, by type, application, end user, and region, in terms of value
  • To provide detailed information about the major drivers, restraints, opportunities, and industry-specific challenges influencing the market growth
  • To estimate the size of the global offshore support vessel market for various segments with respect to 6 main regions, namely, Asia Pacific, Europe, North America, South America, the Middle East, and Africa
  • To study the individual growth trends of offshore support vessel providers, their future trends, and analyze key contributors in this market
  • To analyze the impact of the COVID-19 on the offshore support vessel market
  • To analyze the market opportunities for stakeholders and provide a detailed overview of the competitive landscape of the market
  • To profile the key players operating in the market and comprehensively analyze their market share
  • To track and analyze competitive developments, such as contracts & agreements, mergers & acquisitions, and product launches in the offshore support vessel market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Offshore Support Vessel Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Offshore Support Vessel Market

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Report Code
EP 2894
Published ON
Jun, 2021
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