Platform Supply Vessels (PSV) Market Revenue to close at USD 8.5 BN by 2027

Posted On March 10, 2021     

The Global Platform Supply Vessels (PSV) Market is foreseen to grow at a remarkable CAGR of 14% during the year 2020-2027 as estimated by the report from Value Market Research wherein the market value is expected to grow to USD 8.5 BN by 2027. The constant rise in the number of offshore drilling operations and the need for advanced, reliable vessels to transport essential equipment and workforce to the high seas will be the primary stimulants for the platform supply vessels market growth. Since PSVs are highly versatile and can handle typical construction and maintenance tasks of standard offshore supply Vessels, there will be an upward surge in demand for PSVs. The rising use of PSVs to curb the extent of oil spillage in the high seas and as handy vessels equipped with fire-controlling instrumentation will broaden this market’s scope. The growing demand for oil globally will be a market booster. More complex operational and maintenance processes involved with these larger ships can pose severe challenges to the market’s growth.

Platform supply vessel is a type of ship mainly used to transit essential equipment and additional human resources to offshore oil and gas platforms. These offshore vessels range from 50 to 100 meters in length and are equipped with a dynamic positioning system, methanol capability, high volume liquid mud, and dry bulk capacities. They help sustain the demands of the construction and maintenance projects at the high seas and can accomplish several tasks. Since they are used for easy transiting of personnel, these vessels are furnished with cookhouses and other necessary facilities. A PSV can be custom-built to suit the operational needs of the consumers.

The geographical and segmentation study covered in the report "Global Platform Supply Vessels (PSV) Market Report By Type (PSV Below 3000 DWT, PSV Above 3000 DWT), By Applications (Oil And Gas Production, Offshore Construction, Military, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" helps in understanding the upcoming trends of the market.
                       
On the basis of type the market is segmented into PSV below 3000 DWT, PSV above 3000 DWT. By applications the XXX market is categorised as Oil and Gas Production, Offshore Construction, Military, Others. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. This section provides the estimates of market by segment, thus providing valuable data to take strategic decisions.

The Report Segments Global Platform Supply Vessels (PSV) Market -
By Type

  • PSV below 3000 DWT
  • PSV above 3000 DWT

 
By Applications

  • Oil and Gas Production
  • Offshore Construction
  • Military
  • Others

 
By Region

  • North America
  • Europe
  • the Asia Pacific
  • Latin America
  • The Middle East and Africa

 
Players Profiled In the Report:
Daewoo Shipbuilding & Marine Engineering Co., Ltd., Grup Aresa Internacional, China Shipbuilding Industry Co. Ltd. Hanjin Heavy Industries & Construction Co., Ltd., Yangzijiang Shipbuilding Holdings Ltd, Fincantieri S.p.A.,  GulfMark Offshore, Inc., and ASCO Marine, Ltd.

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