Market Size of North America Offshore Support Vessels Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Offshore Support Vessels Market Analysis
The North America offshore support vessels market is expected to grow at a CAGR of over 2% during the forecast period of 2020-2025. Factors such as less period of investment return from offshore are likely to drive North America offshore support vessels market. However, a recent trend shift to dynamic positioning drilling systems is expected to negatively impact the North America offshore support vessels market.
- The Platform Supply Vessels (PSVs) held a significant market share, in 2019, due to the increasing number of activities in oil & gas and renewable sectors, and it is likely to dominate the market.
- The upcoming offshore wind farm projects in countries such as the United States and Canada are likely to provide opportunities for the North America offshore support vessels market in the future.
- The United States is expected to dominate the North America offshore supply vessels market, in 2019, due to the recent offshore activities and increasing shale production.
North America Offshore Support Vessels Industry Segmentation
The North America offshore support vessels market report include:
North America Offshore Support Vessels Market Size Summary
The North America offshore support vessels market is poised for growth, driven by factors such as the rapid return on investment from offshore activities. Despite a shift towards dynamic positioning drilling systems, which may pose challenges, the market is expected to benefit from increased activities in the oil and gas and renewable energy sectors. Platform Supply Vessels (PSVs) are anticipated to maintain a dominant position due to their critical role in supporting offshore operations. The United States is projected to lead the market, bolstered by significant offshore activities and shale production, while upcoming offshore wind farm projects in the region present further opportunities for market expansion.
The market's trajectory is supported by ongoing and planned offshore projects, such as those in the Gulf of Mexico and the Flemish Pass Basin, which require substantial logistical support from PSVs. The development of deep-water projects, like Chevron's Anchor Project and Total S.A's North Platte oil field, underscores the demand for advanced offshore support vessels. The market is moderately consolidated, with key players like Edison Chouest Offshore and Tidewater Inc. playing significant roles. Overall, the North America offshore support vessels market is expected to experience steady growth, driven by both traditional oil and gas activities and emerging renewable energy projects.
North America Offshore Support Vessels Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 North America Offshore Support Vessels Market Demand Forecast, in USD billion, till 2025
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1.3 Active Offshore Rig Count Forecast, till 2025
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Supply Chain Analysis
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1.8 Porter's Five Force Analysis
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1.8.1 Bargaining Power of Suppliers
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1.8.2 Bargaining Power of Consumers
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1.8.3 Threat of New Entrants
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1.8.4 Threat of Substitutes Products and Services
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1.8.5 Intensity of Competitive Rivalry
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North America Offshore Support Vessels Market Size FAQs
What is the current North America Offshore Support Vessels Market size?
The North America Offshore Support Vessels Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in North America Offshore Support Vessels Market?
Edison Chouest Offshore , Tidewater Inc, Hornbeck Offshore Services, Inc , Harvey Gulf International Marine LLC and Siem Offshore Inc. are the major companies operating in the North America Offshore Support Vessels Market.
