New York, Aug. 01, 2023 (GLOBE NEWSWIRE) — The global offshore support vessel market size is slated to expand at ~7% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 27 billion by the end of 2035, up from a revenue of ~USD 13 billion in the year 2022.Offshore Support Vessels (OSVs) support various activities such as drilling, installation and transportation of supplies. Increasing energy demand will increase the need for OSV. The growing development of the middle class in developing countries leads to an increase in energy consumption of around 35%. Increased investment flow in the oil and gas industry.
(GlobeNewsWire)