Offshore Support Vessel Market

The global offshore support vessel market is expected to reach USD 36.3 billion by 2029, up from an anticipated USD 25.6 billion in 2024, at a CAGR of 7.2% over the forecast period. offshore support vessel occupies a crucial position in the ongoing global energy transition. Fluctuations in global energy demand and shifts towards cleaner energy sources impact the utilization of offshore support vessel in both traditional hydrocarbon and renewable energy sectors.

Due to the abundant availability of networks, a few global and regional firms have a solid presence in the offshore support vessel market. Offshore support vessel industry leaders include A.P. Moller - Maersk (Denmark), Tidewater Inc. (US), BOURBON (France), Edison Chouset Offshore (US), and Deltamarin Ltd (Europe).  To grow their market share, these organizations used techniques such as product launches, contracts, agreements, partnerships, acquisitions, investments, and expansions.

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A.P. Moller-Maersk, commonly known as Maersk, is a global leader in container shipping, logistics, and energy sectors. While historically renowned for its container shipping operations, Maersk has also ventured into the offshore support vessel market. The company's presence in the OSV market is backed by its extensive fleet, modern technology, and global reach. Maersk Supply Service focuses on delivering efficient and reliable solutions to its customers, leveraging its expertise in maritime operations and commitment to safety and sustainability. The company offers offshore support services through its Towage & Marine Services business segment. Maersk Group offers marine services and integrated energy industry solutions with its anchor-handling tug supply (AHTS) fleet and subsea support vessels. A.P. Moller - Maersk has offices in Angola, Australia, Brazil, Canada, Equatorial Guinea, Ghana, Mexico, the Philippines, Singapore, and the UK.

Tidewater Inc., established in 1956 and headquartered in Houston, Texas, is a prominent provider in the offshore support vessel (OSV) market. The company operates a diverse fleet of vessels, including platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSVs), fast crew supply vessels (FCSVs), and specialty vessels. These vessels support offshore exploration, production, and transportation activities globally, with a significant presence in key regions such as the Gulf of Mexico, North Sea, Southeast Asia, West Africa, and the Middle East. Tidewater focuses on maintaining a modern fleet, pursuing strategic acquisitions like GulfMark Offshore, and emphasizing sustainability through energy-efficient operations.

Bourbon, is a leading player in the offshore support vessel (OSV) market, offering a comprehensive range of marine services to the offshore oil and gas industry. Headquartered in Marseille, France, and with a fleet of over 400 vessels, Bourbon provides deepwater and shallow water offshore services, subsea operations, personnel transport, and logistics support. Their fleet includes various vessel types such as Anchor Handling Tug Supply (AHTS) vessels, Platform Supply Vessels (PSVs), subsea service vessels, and crew boats, designed to meet diverse operational needs across major offshore regions including West Africa, Europe, the Americas, Asia, and the Middle East. Strategically, Bourbon focuses on fleet modernization, digitalization, and sustainability to enhance efficiency and meet regulatory requirements. Despite challenges such as market volatility and stringent environmental regulations, Bourbon leverages opportunities in renewable energy and emerging markets. Their emphasis on operational excellence and technological advancements positions them well to maintain and strengthen their market presence.

Related Reports:

Offshore Support Vessel Market by Technology (AHTS, PSV, MPSV, Standby & Rescue Vessels, Crew Vessels, Chase Vessels, Seismic Vessels), Application (Shallow water, Deepwater), End-user Industry, Material, Fuel Type and Region - Global Forecast to 2029

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