Offshore Supply Vessels

Global Offshore Supply Vessels Market to Reach US$30.1 Billion by 2030

The global market for Offshore Supply Vessels estimated at US$25.4 Billion in the year 2024, is expected to reach US$30.1 Billion by 2030, growing at a CAGR of 2.8% over the analysis period 2024-2030. AHTS, one of the segments analyzed in the report, is expected to record a 2.1% CAGR and reach US$10.2 Billion by the end of the analysis period. Growth in the PSV segment is estimated at 4.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$6.9 Billion While China is Forecast to Grow at 5.3% CAGR

The Offshore Supply Vessels market in the U.S. is estimated at US$6.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.8 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.1% and 2.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.

Global Offshore Supply Vessels Market - Key Trends & Drivers Summarized

Why Offshore Supply Vessels Remain Indispensable to Offshore Operations?

Offshore supply vessels (OSVs) form the backbone of offshore oil, gas, and wind operations by transporting cargo, fuel, equipment, and personnel to and from offshore platforms. These vessels are tailored to operate in challenging sea conditions and fulfill specialized logistics and support roles. As offshore activities expand into deeper waters and remote fields, reliance on OSVs continues to increase due to their essential function in maintaining continuous operations.

Various OSV types are in use, including platform supply vessels (PSVs), anchor handling tug supply (AHTS) vessels, and multipurpose support vessels. Each is designed to meet specific requirements, such as handling subsea construction equipment, laying cables, or providing emergency response services. Demand is further sustained by the need for vessel flexibility, fuel efficiency, and compliance with stricter environmental and safety standards. OSVs remain irreplaceable in enabling offshore infrastructure installation, routine maintenance, and operational continuity.

How Are Technological Advancements Reshaping Vessel Capabilities and Operations?

Innovation in vessel design, automation, and energy systems is enhancing operational efficiency and safety. Hybrid propulsion systems are gaining adoption, reducing fuel consumption and emissions while improving maneuverability. Dynamic positioning systems have become standard in many OSVs, enabling precise station-keeping during offshore operations. These technologies help support subsea installations, well servicing, and other high-precision tasks.

Digital technologies are improving fleet visibility, maintenance planning, and crew safety. Real-time tracking, predictive diagnostics, and integrated control systems allow operators to optimize performance and reduce downtime. Vessel designs are also evolving to accommodate multiple operational roles, supporting functions ranging from diving support to oil spill response. Innovations in hull structure, propulsion architecture, and noise control are contributing to better performance in harsh marine environments. These advancements are enabling OSVs to deliver greater value in increasingly complex offshore projects.

What Market Shifts Are Influencing Demand for Offshore Supply Vessels?

Global energy diversification is reshaping offshore logistics, expanding the OSV market beyond traditional oil and gas projects. Offshore wind installations, particularly in Europe and East Asia, are emerging as a significant source of demand. Wind farm construction, cable laying, and maintenance activities require frequent transport of technicians and equipment, creating a growing market for smaller, agile support vessels.

Decommissioning of aging offshore infrastructure also requires specialized vessels for safe removal and transport of materials. Additionally, regional efforts to expand deepwater exploration in Latin America, Africa, and Southeast Asia are triggering demand for advanced OSVs. As operators seek to consolidate logistics, demand for multipurpose vessels with broader functionality is rising. Long-term contracts and fleet modernization programs are helping stabilize market dynamics, even amid fluctuating oil prices and regulatory pressures.

What Factors Are Driving Growth in the Offshore Supply Vessels Market?

Growth in the offshore supply vessels market is driven by several factors. Expansion of offshore wind energy projects is generating new demand for crew transfer and construction support vessels tailored for wind farm logistics. Increased investment in subsea infrastructure, particularly in deepwater regions, is driving demand for specialized anchor handling and multipurpose OSVs. Fleet replacement needs, driven by stricter emissions regulations and aging vessel inventories, are fueling orders for low-emission and hybrid-propulsion ships.

Rising oil and gas exploration in frontier offshore basins is creating fresh logistics requirements, especially in regions lacking existing infrastructure. Regulatory requirements for vessel safety, crew welfare, and environmental compliance are also prompting investment in advanced vessel designs. Technological convergence in automation, energy management, and digital monitoring is supporting operational cost reduction, encouraging wider adoption. Demand for flexible chartering models, coupled with renewed upstream activity, is further strengthening growth momentum across key OSV segments.

SCOPE OF STUDY:

The report analyzes the Offshore Supply Vessels market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (AHTS, PSV, FSIV, MPSV, Other Types); End-Use (Offshore Oil & Gas End-Use, Offshore Wind End-Use)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 41 Featured) -

• Bourbon Offshore
• Circle T Service & Rental Ltd
• DOF Subsea
• Edison Chouest Offshore
• Eidesvik Offshore
• Farstad Shipping ASA
• Gulf Offshore Rentals
• GulfMark Offshore, Inc.
• Harvey Gulf (Harvey Gulf Intl Marine)
• Havila Shipping ASA
• Hornbeck Offshore Services
• Island Offshore Group
• Maersk Supply Service
• Rem Offshore
• Seacor Marine
• Siem Offshore Inc.
• Solstad Offshore ASA
• Swire Pacific Offshore Ops
• Tidewater Inc.
• Vroon B.V.

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