Offshore Support Vessels Market Outlook: Size, Share, Trends & Growth Analysis (2024-2029)

The market report presents a thorough analysis segmented by Vessel Type (Anchor Handling Tug Supply Vessel (AHTSV), Platform Supply Vessels (PSV), Crew Vessels, Others); by Water Depth (Shallow Water, Deepwater, Ultra-Deepwater); by Application (Oil & Gas, Offshore Wind, Patrolling, Research & Surveying, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Market Dimensions & Growth Potential

Global Offshore Support Vessels (OSV) Market Size
Global Offshore Support Vessels (OSV) Market Size 
  • The offshore support vessels (OSV) market is estimated to be at USD 28,678.01 Mn in 2024 and is anticipated to reach USD 37,010.01 Mn in 2029. 
  • The offshore support vessels (OSV) market is registering a CAGR of 5.23% during the forecast period of 2024-2029. 
  • The OSV market includes various vessel types, such as platform supply vessels (PSVs), anchor handling tug supply vessels (AHTS), emergency response and rescue vessels (ERRVs), and subsea support vessels. 
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Competitive Landscape & Market Positioning in 2023 

Global Offshore Support Vessels (OSV) Market Share
Global Offshore Support Vessels (OSV) Market Share
  • The participants in the global offshore support vessels (OSV) industry are always developing their strategies to preserve a competitive advantage.  
  • These companies primarily use acquisitions, R&D, partnerships, and technological launches. 
  • Several important entities in the offshore support vessels (OSV) market include DOF Group; Solstad Offshore; Tidewater, Inc.; Vroon Group; SEACOR Marine Holdings Inc.; and others. 
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Report Objectives & Insights 

Document
Attributes Values
Historical Period 2018-2022
Base Year 2023
Forecast Period 2024-2029
Market Size (2024) USD 28,678.01 Mn
Market Size (2029) USD 37,010.01 Mn
Growth Rate 5.23% CAGR from 2024 to 2029
Key Segments Vessel Type (Anchor Handling Tug Supply Vessel (AHTSV), Platform Supply Vessels (PSV), Crew Vessels, Others); Water Depth (Shallow Water, Deepwater, Ultra-Deepwater); Application (Oil & Gas, Offshore Wind, Patrolling, Research & Surveying, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors DOF Group; Solstad Offshore; Tidewater, Inc.; Vroon Group; SEACOR Marine Holdings Inc.
Key Countries The U.S; Canada; Mexico; Brazil; China; India; Japan; South Korea; The UK; Germany; Italy; France; Turkey
Largest Market Asia Pacific
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Market Trends & Future Outlook 

  • Shift Towards Hybrid and Electric Vessels: There is a growing trend towards the adoption of hybrid and electric OSVs to reduce environmental impact and comply with stringent emission regulations. In 2023, Rolls-Royce launched a new hybrid propulsion system for OSVs, enhancing fuel efficiency and reducing emissions. 
  • Advancements in Vessel Design: Advanced technologies in vessel design and construction are being increasingly adopted to improve safety, efficiency, and operational capabilities. In 2023, Damen Shipyards introduced a new series of OSVs equipped with advanced navigation and automation systems, enhancing their operational efficiency. 
  • Integration of IoT: The integration of the Internet of Things (IoT) into OSVs is becoming more prevalent, enhancing real-time monitoring and maintenance capabilities. In 2023, Maersk Supply Service implemented digital twin technology across its fleet, enabling real-time data analysis and predictive maintenance. 
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Key Market Influencers & Growth Drivers 

  • Rising Offshore Exploration Activities: The increasing offshore oil and gas exploration and production activities are driving the demand for OSVs. In 2023, Petrobras announced the expansion of its offshore drilling operations in the pre-salt fields of Brazil, leading to increased demand for supply and support vessels. 
  • Demand for Renewable Energy: The shift towards renewable energy sources, particularly offshore wind energy, is a significant driver for the OSV market. In 2023, the United States Department of Energy reported a substantial increase in offshore wind projects, necessitating the use of OSVs for construction, installation, and maintenance. 
  • Government Support: Government support and subsidies for offshore energy projects are boosting the OSV market. In 2023, the UK government announced new subsidies for offshore wind farm developments, increasing the demand for support vessels to assist in the installation and maintenance of turbines. 
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Market Obstacles & Growth Barriers 

  • High Operational Costs: Operating offshore support vessels involves high costs, including fuel, crew wages, and maintenance expenses. These costs are further exacerbated by the need to comply with stringent safety and environmental regulations. For example, the implementation of the IMO 2020 sulfur cap regulation increased fuel costs for vessels, leading to higher operational expenses. 
  • Volatility in Oil Prices: The offshore support vessels market is highly sensitive to fluctuations in oil prices. Significant drops in oil prices can lead to reduced offshore exploration and production activities, directly impacting the demand for support vessels.  
  • Regulatory Compliance: Strict regulatory and environmental compliance requirements are challenging for OSV operators. In 2023, the International Maritime Organization (IMO) implemented new regulations on sulfur emissions, requiring vessels to upgrade their systems to comply with the standards, adding to operational costs. 
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Map Highlighting Key Region in 2023 

Global Landscape of Offshore Support Vessels (OSV) Market
Global Landscape of Offshore Support Vessels (OSV) Market 
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Table of Contents 

List Table
1. Introduction
  1.1. Research Methodology
  1.2. Scope of the Study
2. Market Overview / Executive Summary
  2.1. Global Offshore Support Vessels (OSV) Market (2018 – 2022)
  2.2. Global Offshore Support Vessels (OSV) Market (2023 – 2029)
3. Market Segmentation
  3.1. Global Offshore Support Vessels (OSV) Market by Vessel Type
   3.1.1. Anchor Handling Tug Supply Vessel (AHTSV)
   3.1.2. Platform Supply Vessels (PSV)
   3.1.3. Crew Vessels
   3.1.4. Others
  3.2. Global Offshore Support Vessels (OSV) Market by Water Depth
   3.2.1. Shallow Water
   3.2.2. Deepwater
   3.2.3. Ultra-Deepwater
  3.3. Global Offshore Support Vessels (OSV) Market by Application
   3.3.1. Oil & Gas
   3.3.2. Offshore Wind
   3.3.3. Patrolling
   3.3.4. Research & Surveying
   3.3.5. Others
4. Regional Segmentation
  4.1. North America
   4.1.1. The US
   4.1.2. Canada
   4.1.3. Mexico
  4.2. South America
   4.2.1. Brazil
   4.2.2. Argentina
   4.2.3. Colombia
   4.2.4. Chile
   4.2.5. Rest of South America
  4.3. Asia Pacific
   4.3.1. China
   4.3.2. India
   4.3.3. Japan
   4.3.4. South Korea
   4.3.5. Rest of Asia Pacific
  4.4. Europe
   4.4.1. The UK
   4.4.2. Germany
   4.4.3. Italy
   4.4.4. France
   4.4.5. Spain
   4.4.6. Rest of Europe
  4.5. The Middle East
   4.5.1. Turkey
   4.5.2. UAE
   4.5.3. Saudi Arabia
   4.5.4. Rest of the Middle East
  4.6. Africa
   4.6.1. Egypt
   4.6.2. South Africa
   4.6.3. Rest of Africa
5. Value Chain Analysis of the Global Offshore Support Vessels (OSV) Market
6. Porter Five Forces Analysis
  6.1. Threats of New Entrants
  6.2. Threats of Substitutes
  6.3. Bargaining Power of Buyers
  6.4. Bargaining Power of Suppliers
  6.5. Competition in the Industry
7. Trends, Drivers and Challenges Analysis
  7.1. Market Trends
   7.1.1. Market Trend 1
   7.1.2. Market Trend 2
   7.1.3. Market Trend 3
  7.2. Market Drivers
   7.2.1. Market Driver 1
   7.2.2. Market Driver 2
   7.2.3. Market Driver 3
  7.3. Market Challenges
   7.3.1. Market Challenge 1
   7.3.2. Market Challenge 2
   7.3.3. Market Challenge 3
8. Opportunities Analysis
  8.1. Market Opportunity 1
  8.2. Market Opportunity 2
  8.3. Market Opportunity 3
9. Competitive Landscape
  9.1. DOF Group
  9.2. Solstad Offshore
  9.3. Tidewater, Inc.
  9.4. Vroon Group
  9.5. SEACOR Marine Holdings Inc.
  9.6. Company 6
  9.7. Company 7
  9.8. Company 8
  9.9. Company 9
  9.10. Company 10
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Offshore Support Vessels (OSV) Market – FAQs 

What is the current size of the offshore support vessels (OSV) market?

In 2024, the offshore support vessels (OSV) market size is $28,678.01 Mn.

Who are the major vendors in the offshore support vessels (OSV) market?

The major vendors in the offshore support vessels (OSV) market are DOF Group; Solstad Offshore; Tidewater, Inc.; Vroon Group; SEACOR Marine Holdings Inc.

Which segments are covered under the offshore support vessels (OSV) market segments analysis?

The offshore support vessels (OSV) market report offers in-depth insights into Vessel Type, Water Depth, Application, and Geography.