Offshore Support Vessel (OSV) Market

1. Analysis of Offshore Support Vessel Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~7% During 2023-2035 and Attain ~USD 27 Billion by 2035 Research Nester assesses the growth and market size of the global offshore support vessel market which is anticipated to be on account of the growing importance of renewable energy and higher exploration of oil and gas. New York – May 14, 2023 - Research Nester’s recent market research analysis on “Offshore Support Vessel Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global offshore support vessel market in terms of market segmentation by vessel type, application, end-user, and by region.

2. Growing Demand for Energy to Promote Global Market Share of Offshore Support Vessel The global offshore support vessel market is estimated to grow majorly on account of the rising need for renewable energy and the growing demand for energy in the world. Renewable energy generation is expected to increase from roughly 29% in 2021 to more than 60% by 2030. The primary sources of sustainable energy are offshore wind farms. OSVs are required for a variety of tasks, including cable installation and upkeep. Other than renewables, the OCVs are also used in the exploration of oil and gas. Specialized seismic equipment is installed on OCVs. They provide crisp and comprehensive views of subsurface geology, assisting in the exploration of possible hydrocarbon sources. Besides this, the oil and energy industry are expected to traction huge investments and many offshore infrastructures are getting old, all these factors are also expected to boost the market growth. Investment in the oil industry leads to the development of new offshore fields, which raises the demand for OSVs to carry out various activities. Investment in the oil and gas industry is expected to rise from USD 499 billion in 2022 to USD 640 billion in 2030. Moreover, for updating and removing old infrastructures, OCVs help in the safe and efficient removal of platforms, pipelines, and other seabed structures. Some of the major growth factors and challenges that are associated with the growth of the global offshore support vessel market are: Growth Drivers:

3. Rising Investment by Companies in the Oil & Gas Industry · Growing Replacement of Traditional Outshore Infrastructure · Challenges: The installation of offshore support vessels requires a huge amount of investment, and the stringent regulations developed by the government for the energy sector are some of the major factors anticipated to hamper the global market size of offshore support vessels. Various regulations are imposed to protect the environment, such as emission standards and restrictions on drilling in ecologically sensitive areas. Compliance with these regulations often requires substantial investment in technology and equipment. On the other hand, the number of OCVs has increased and demand is not enough which has led to a huge gap in the supply chain. Access our detailed report at: https://www.researchnester.com/reports/offshore-support-vess el-osv-market/5025 On the basis of end-user, the global offshore support vessel market is segmented into oil & gas, offshore wind farms, and patrolling. The offshore wind farm segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. Wind farm technology continues to advance, with a rising concentration on floating offshore wind farms placed in deep oceans, which will drive market expansion. Furthermore, based on vessel type, the market is further fragmented into emergency response and rescue vessels (ERRSV), platform supply vessel (PSV), offshore subsea construction vessel (OSCV), multirole

4. field & rov support vessel (MRSV), and anchor handling tug supply (AHTS). Out of all, the anchor handling tug supply (AHTS) is expected to dominate the market growth. By region, the North American offshore support vessel market is to generate the maximum revenue by the end of 2035. Offshore wind development is progressing and it will drive the market growth in the region. As per the statistics of the Department of Energy (DOE), the target of delivering 30 gigatons of new offshore wind energy by 2030 has been committed by the federal government of the United States. Moreover, to support the establishment of an offshore wind industry in the United States. Over USD 300 million has been set aside by the Department of Energy for conducting the research and demonstrating the project. Furthermore, various strategies have been developed for progressing offshore wind deployment. For instance, DOE issued Offshore Wind Energy Strategies on January 12, 2022, that outlines regional and national strategies to expedite offshore wind installation and production in the United States. This report also provides the existing competitive scenario of some of the key players of the global offshore support vessel market which includes company profiling of Tidewater Inc., Bourbon Corporation SA, Seacor Marine Holdings Inc., Maersk Supply Service, Solstad Offshore ASA, Swire Pacific Offshore, Vroon Offshore Services, Abdon Callais Offshore LLC, Ulstein Group ASA, and Navarino. Request Report Sample@ https://www.researchnester.com/sample-request-5025

5. Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out-of-the-box thinking helps our clients to make wise decision in order to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919