Offshore Support Vessel Market Analysis

Vessel Type {Platform Supply Vessel (PSV), Multirole Field & ROV Support Vessel (MRSV), Offshore Subsea Construction Vessel (OSCV), Anchor Handling Tug Supply (AHTS), Emergency Response & Rescue Vessels (ERRSV)}

The anchor handling tug supply segment in the offshore support vessel market is expected to grow at a CAGR of approximately 8% over the forecast period and is estimated to gain the largest market share of about around 35% in the year 2037. The high volume range, a feature of towage services & anchor handling is likely to drive the segment gain. The anchor handling operation carried by the anchor handling tug supply helps in moving and holding the rig and protects them during the hazardous environment. Besides this, AHTS is closely equipped and is used in various operations, such as enhanced oil recovery, firefighting, and rescuing in an emergency situation.

End User (Oil & Gas, Offshore Wind Farm, Patrolling)

The offshore wind farm segment in the OSV market is slated to garner a significant share of around 60% in the year 2037. The rising demand for renewable electricity will increase the need for offshore wind energy. OSV supports the research, development, and production of renewables by proving transportation, accommodation, and equipment storage for the research teams and manufacturers. To achieve the Net Zero Emissions by 2050 Scenario, which requires about 7 900 TWh of wind electricity output in 2030, average annual capacity additions must be increased to nearly 250 GW. Moreover, wind farm technology is quickly evolving, with a growing focus on floating offshore wind farms located in deep oceans which will also drive the segment growth in the market.

Our in-depth analysis of the global market includes the following segments: