Global Offshore Supply Vessel Market 2018-2022 | Industry Analysis and Forecast | Technavio
Technavio
analysts forecast the global offshore supply vessel market to grow at a
CAGR of almost 7% during the forecast period.
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Technavio has published a new market research report on the global offshore supply vessel market for the period 2018-2022. (Graphic: Business Wire)
The increasing demand for high-capacity and LNG-fueled OSVs is one of
the major trends being witnessed in the global
offshore supply vessel market 2018-2022. In 2017, LNG was
available at a competitive price when compared with HFO in the US and
Europe. LNG is preferred over low sulfur gasoil in offshore vessels.
Many major shipping manufacturers have launched LNG-fueled OSVs owing to
the benefits of using LNG as an OSV fuel.
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According to Technavio’s analysts, one of the key factors contributing
to the growth of the global offshore supply vessel market is the
increasing number of global offshore oil and gas drills:
Global offshore supply vessel market:
Increasing number of global offshore oil and gas drills
In 2018, there has been an increase in the CAPEX in the oil and gas
industry by 6%-7% owing to the rising offshore activities and the
increasing investments in infrastructure. In May 2018, the oil prices
increased to USD 68.79 per barrel when compared to USD 30 per barrel in
January 2016. In 2017, the drilling activity in the US increased by
approximately 26%, while the drilling footage increased by about 30%.
According to a senior research analyst at Technavio, “Several
offshore blocks are being allocated by governments for E&P activities
because of the steady rise in oil prices and the future uncertainty over
prices. This has led to an increase in oil and gas drilling activities.
This will promote the growth of the offshore supply vessel market as
these activities need logistic support and supply of various drilling
equipment.”
Global offshore supply vessel market:
Segmentation analysis
The global offshore supply vessel market research report provides market
segmentation by product (AHTS, PSV, FSIV, and MPSV) and by region (the
Americas, APAC, and EMEA). It provides an in-depth analysis of the
prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.
Of the four major products, the AHTS segment held the largest market
share in 2017, contributing to over 39% of the market. This product
segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2017, accounting for close
to 41% share. It was followed by the Americas and EMEA respectively.
APAC is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
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Market ecosystem
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Market characteristics
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Market segmentation analysis
Market Sizing
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Market definition
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Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Regional comparison
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Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
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