PUBLISHER: Market Research Future | PRODUCT CODE: 1723650
PUBLISHER: Market Research Future | PRODUCT CODE: 1723650
Report Information on Latin America, Africa, UK, and Vietnam Shallow OSV Market for Oil & Gas Industry Market Research By Vessel Type (Heavy Lift Vessels (HLVs), Anchor Handling Tug Supply Vessels (AHTS), Platform Supply Vessels (PSVs), Multipurpose Support Vessels (MSVs), Dive Support Vessels (DSVs), Construction Support Vessels (CSV), Subsea Support Vessels (SSVs), and Others) By Application (Exploration & Production (E&P) Activities, Offshore Rig Moves, Subsea Services, Pipe & Cable Laying, and Others) and By Region Forecast to 2032
In 2023, the value of the Shallow OSV Market for Oil & Gas Industry in Latin America, Africa, the United Kingdom, and Vietnam was USD 10655.04 million. The Shallow OSV Market for Oil & Gas Industry in Latin America, Africa, the United Kingdom, and Vietnam is expected to experience a compound annual growth rate (CAGR) of 7.6% from 2024 to 2032.
The global demand for oil and gas is driving significant growth in the Shallow Water Offshore Supply Vessels for the Oil & Gas Industry Market, which is primarily in Latin America, Africa, the United Kingdom, and Vietnam. The demand for OSVs increases to support a variety of operational activities as main oil-producing regions increase their production levels. For example, Brazil and Mexico were the primary producers of oil in Latin America in 2023, with an estimated 9.4 million barrels per day produced.
In the same vein, the critical role of OSVs in these regions was underscored by the fact that Africa's production approached 10 million barrels per day. The United Kingdom, which sources 98% of its crude oil from offshore fields, is significantly dependent on offshore support vessels (OSVs) for support services, drilling, and exploration. A robust fleet of support vessels is required to facilitate the ongoing exploration and exploitation of offshore reserves, particularly in the North Sea. The OSV market is also experiencing development due to the natural gas sector. The total natural gas output of Central and South America was 162 billion cubic meters, which suggests a substantial requirement for supply vessels to convey personnel and equipment to offshore gas fields.
Market segment insights
The Latin America, Africa, UK, and Vietnam Shallow OSV Market for Oil & Gas Industry Market has been segmented into the following categories: Heavy Lift Vessels (HLVs), Anchor Handling Tug Supply Vessels (AHTS), Platform Supply Vessels (PSVs), Multipurpose Support Vessels (MSVs), Dive Support Vessels (DSVs), Construction Support Vessels (CSV), Subsea Support Vessels (SSVs), and Others. The bifurcation is based on the vessel type.
Exploration & Production (E&P) Activities, Offshore Rig Moves, Subsea Services, Pipe & Cable Laying, and Others are the bifurcations of the Latin America, Africa, UK, and Vietnam Shallow OSV Market for Oil & Gas Industry Market, as determined by the application.
Top producers in the region include DSV, Bourbon, Choueset, Tidewater Inc., Sea1 Offshore, Vroon, OceanPact, SCALDIS, Allseas, Damen Shipyards Group, Hornbeck Offshore, DOF, SEACOR Marine, and others.