Anchor handling tug supply (AHTS) vessels Market to Grow by USD 2.61 Billion 2024-2028, Vendor Strategies Boost Growth, AI-Powered Market Evolution Report - Technavio

The global anchor handling tug supply (AHTS) vessels market is projected to expand by USD 2.61 billion between 2023 and 2028, growing at a CAGR of 4.67%. This AHTS vessels market growth forecast is driven by the increasing offshore support vessels demand, rising offshore exploration projects, and advancements in anchor handling operations and technology. The expansion of port infrastructure and investments in deep-water and ultra-deep-water exploration further contribute to the AHTS vessels market size.As anchor handling tug supply vessels market analysis indicates, the industry is witnessing increased investments from AHTS vessels companies to enhance vessel capabilities. Additionally, fluctuations in anchor handling vessel prices and the rising availability of AHTS vessels for sale are key considerations shaping the competitive landscape. With evolving offshore vessel market trends, industry players are focusing on innovation to optimize vessel performance and meet the growing demands of offshore operations.Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Segmentation

By Application

• Oil and Gas
• Industrial
• Others

By Engine Capacity

• 5000-9999 HP
• <5000 HP

• 10000 HP

Regional Market Trends

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Rest of Europe

• APAC

  • China

  • India

• South America

  • Chile

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • Rest of the Middle East & Africa

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Market Dynamics

Key Drivers

• Growing global demand for oil and gas: AHTS vessels play a crucial role in offshore oil and gas operations, supporting rig moves, towing, and cargo transportation. Increasing energy demand is expected to drive AHTS vessel adoption.
• Expansion of deep-water and ultra-deep-water exploration: Offshore reserves are larger than onshore, attracting investment in exploration and production (E&P) activities.
• Surge in global offshore exploration projects: Rising offshore oil and gas projects are fueling demand for AHTS vessels.

Key Trends

• Increased investment in port infrastructure: The expansion of port facilities and offshore installations, including oil rigs and renewable energy projects, is boosting AHTS vessel demand.
• Public-private partnerships (PPP) in port development: Countries such as India are investing in major port projects, increasing AHTS vessel utilization.

Key Challenges

• Oil price volatility: Fluctuating crude oil prices impact exploration budgets, reducing demand for AHTS vessels.
• High fuel taxes: Taxes on fuel, including goods and services tax and emission levies, contribute to price fluctuations, affecting vessel operations.

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Key Players

• Aquashield Oil and Marine Services Ltd.
• AP Moller Maersk AS
• BOURBON Maritime
• Damen Shipyards Group
• DNV Group AS
• Edison Chouest Offshore Co.
• Fairway Offshore Ltd.
• Harmony Marine Shipbrokers Ltd.
• Harvey Gulf International Marine LLC
• Hornbeck Offshore Services Inc.
• Kuok Group
• MMA Offshore Ltd.
• Petromarine Nigeria Ltd.
• Seacontractors
• SEACOR Marine Holdings Inc.
• Solstad Offshore ASA
• Swire Pacific Ltd.
• Tethys Plantgeria Ltd.
• Tidewater Inc.
• Wartsila Corp.

Future Insights

The AHTS vessels market will experience steady growth due to increasing offshore oil and gas activities, expanding port infrastructure, and rising investments in deep-water exploration. However, oil price volatility and fuel taxation policies may present challenges for industry stakeholders.