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Asia Pacific Offshore Support Vessels Market Size, Share: By Type: Anchor Handling Tug Vessel (AHTV), Platform Supply Vessel, Multipurpose Support Vessel, Crew Vessel, Standby and Rescue Vessel, Others; By Application: Shallow Water, Deep Water; By End Use; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Asia Pacific Offshore Support Vessels Market Outlook
The Asia Pacific offshore support vessels market size reached nearly USD 4730.60 million in 2023. The market is projected to grow at a CAGR of 7.5% between 2024 and 2032, reaching almost USD 9069.70 million by 2032.
Key Takeaways:
- The construction of 514 GW of new oil and gas capacity in the Asia Pacific is expected to drive the market growth.
- The demand for natural gas in China is expected to grow by 40% between 2021-2030.
- The application of offshore support vessels in deep water is expected to record a significant increase over the forecast period.
The global demand for natural gas is expected to witness continuous growth throughout the forecast period. This has led to a 13% increase in the global oil and gas production capacity. Nearly 3/4th of the overall capacity increase is attributed to the Asia Pacific, with countries such as China, Bangladesh, Philippines, and Vietnam leading the construction of new projects. This is expected to accelerate the Asia Pacific offshore support vessels market development.
The development of offshore oil and gas projects in the South China Sea is expected to make China a leading market for offshore support vehicles. The discovery of 100 million tons of oil in the Pearl River Delta of China in the Guangdong province has attracted significant attention from the government. This is also expected to favour foreign investments into the oil and gas sector, thereby influencing the Asia Pacific offshore support vessels market growth favourably.
As the world moves towards clean sources of energy, developing economies such as India, Bangladesh, and Vietnam are expected to boost their reliance on liquefied natural gas to power domestic households and further industrial development. This is expected to drive the expansion of the oil and gas sector in these countries, thereby contributing towards the Asia Pacific offshore support vessels market growth.
Market Segmentation
Asia Pacific Offshore Support Vessels Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Anchor Handling Tug Vessel (AHTV)
- Platform Supply Vessel
- Multipurpose Support Vessel
- Crew Vessel
- Standby and Rescue Vessel
- Others
Market Breakup by Application
- Shallow Water
- Deep Water
Market Breakup by End Use
- Offshore Oil and Gas
- Offshore Wind
Market Breakup by Region
- China
- Japan
- India
- ASEAN
- Australia
- Others
The key Asia Pacific offshore support vessels market players are Tidewater Inc., AP Moeller - Maersk A/S, SEACOR Marine Holdings Inc., Austal Ltd., Solstad Offshore ASA, PACC Offshore Pte. Ltd., Siem Offshore Inc., Nam Cheong Limited, Damen Shipyards Group, and MMA Offshore Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Offshore Support Vessels Market Overview
8.1 Key Industry Highlights
8.2 Global Offshore Support Vessels Historical Market (2018-2023)
8.3 Global Offshore Support Vessels Market Forecast (2024-2032)
8.4 Global Offshore Support Vessels Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Asia Pacific Offshore Support Vessels Market Overview
9.1 Key Industry Highlights
9.2 Asia Pacific Offshore Support Vessels Historical Market (2018-2023)
9.3 Asia Pacific Offshore Support Vessels Market Forecast (2024-2032)
10 Asia Pacific Offshore Support Vessels Market by Type
10.1 Anchor Handling Tug Vessel (AHTV)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Platform Supply Vessel
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Multipurpose Support Vessel
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Crew Vessel
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Standby and Rescue Vessel
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Asia Pacific Offshore Support Vessels Market by Application
11.1 Shallow Water
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Deep Water
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Asia Pacific Offshore Support Vessels Market by End Use
12.1 Offshore Oil and Gas
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Offshore Wind
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Asia Pacific Offshore Support Vessels Market by Country
13.1 China
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Japan
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 ASEAN
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Tidewater Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 AP Moeller - Maersk A/S
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 SEACOR Marine Holdings Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Austal Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Solstad Offshore ASA
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 PACC Offshore Pte. Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Siem Offshore Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Nam Cheong Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Damen Shipyards Group
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 MMA Offshore Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Offshore Support Vessels Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific Offshore Support Vessels Market: Key Industry Highlights, 2018 and 2032
3. Asia Pacific Offshore Support Vessels Historical Market: Breakup by Type (USD Million), 2018-2023
4. Asia Pacific Offshore Support Vessels Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Asia Pacific Offshore Support Vessels Historical Market: Breakup by Application (USD Million), 2018-2023
6. Asia Pacific Offshore Support Vessels Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Asia Pacific Offshore Support Vessels Historical Market: Breakup by End Use (USD Million), 2018-2023
8. Asia Pacific Offshore Support Vessels Market Forecast: Breakup by End Use (USD Million), 2024-2032
9. Asia Pacific Offshore Support Vessels Historical Market: Breakup by Country (USD Million), 2018-2023
10. Asia Pacific Offshore Support Vessels Market Forecast: Breakup by Country (USD Million), 2024-2032
11. Asia Pacific Offshore Support Vessels Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 4730.60 million in 2023.
The market is projected to grow at a CAGR of 7.5% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 9069.70 million in 2032.
The various applications of offshore support vessels are shallow water and deep water.
The different end uses of the product include offshore oil and gas and offshore wind.
The major countries in the market include the ASEAN, China, India, Japan, and Australia, among others.
The key market players are Tidewater Inc., AP Moeller - Maersk A/S, SEACOR Marine Holdings Inc., Austal Ltd., Solstad Offshore ASA, PACC Offshore Pte. Ltd., Siem Offshore Inc., Nam Cheong Limited, Damen Shipyards Group, and MMA Offshore Ltd., among others.
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