![Global Offshore Support Vessels Market](https://res.cloudinary.com/devmoveo/image/upload/v1706529936/skyquest/report/phppInuzF.jpg)
Report ID: SQSG10B2005
Report ID:
SQSG10B2005 |
Region:
Global |
Published Date: July, 2001
Pages:
270
|
Tables:
88 |
Figures:
76
The North American region is dominating the market and expected to grow during the forecast period. Higher oil prices and lower drilling costs have resulted in a considerable increase in offshore oil and gas production in the North American region. In consequence, the region's strong offshore drilling activity is likely to be a major driver for the offshore support vessel industry. Shallow-water drilling activity in the Gulf of Mexico has been declining due to lower production rates in the same fields where the operators operate and a lack of shallow-water discoveries in the recent picture.
China, India, Indonesia, Malaysia, Vietnam, and Thailand are among the key economies in Asia Pacific that are focusing on growing their offshore E&P CAPEX. CAPEX for new offshore developments in Asia Pacific is estimated to account for over 25% of worldwide spending, according to Scottish Development International, making the region a prominent player in the offshore sector. A number of nations in the region are prioritising new offshore activities in deep and ultra-deep waters.
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REQUEST FREE CUSTOMIZATIONOffshore Support Vessels Market size was valued at USD 9.8 billion in 2019 and is poised to grow from USD 10.3 billion in 2023 to USD 14.6 billion by 2031, growing at a CAGR of 5.11% in the forecast period (2024-2031).
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Report ID: SQSG10B2005