Offshore Support Vessel (OSV) Market 2024: Analyzing Trends & Opportunities

The offshore support vessel (OSV) market is evolving rapidly, fueled by increasing demand for advanced maritime support in the oil, gas, and renewable energy sectors. This overview provides a snapshot of the OSV market in 2024, highlighting key trends, insights, and opportunities shaping the future of offshore operations. 

Offshore Support Vessel (OSV) Market Statistics (2024)	Predictions and Insights	Source
1. As of 2023, over 100 hybrid or electric offshore vessels were in operation, and more orders were placed for delivery by 2025.	This signals a strong industry shift toward cleaner, more sustainable maritime operations.	Contact us to view the source.
2. By 2023, over 70% of maritime companies have implemented enhanced cybersecurity protocols to protect against cyber threats and ensure the integrity of onboard systems.	Safeguarding digital infrastructure is critical as cyber threats become an increasingly significant risk to maritime operations and global trade security.	Contact us to view the source.
3. The offshore wind sector is expected to drive significant demand for specialized support vessels, with the global fleet projected to expand by 30% by 2025 to meet the needs of new wind farm installations.	This suggests a robust growth trajectory for the industry, likely leading to increased innovation and investment in specialized maritime technologies and infrastructure.	Contact us to view the source.
4. As of 2023, approximately 95% of newly built vessels comply with the IMO’s Energy Efficiency Design Index (EEDI) requirements.	The maritime industry is committed to enhancing energy efficiency and reducing carbon emissions across the global fleet.	Contact us to view the source.
5. The global offshore support vessel (OSV) active fleet rose to 3,077 vessels, most of which are platform supply vessels (PSVs).	The rising demand for specialized support in offshore energy projects, particularly in the oil, gas, and renewable energy sectors, underscores the critical role of PSVs in maintaining and supplying these operations.	Contact us to view the source.
6. Over the next two years, more than 600 vessels will be older than 15 years and considered non-premium. With only 25% of newbuild vessels in the Tier 1 category.	This industry may face a significant shortage of high-quality, premium vessels, potentially driving up demand and charter rates for newer, more advanced ships.	Contact us to view the source.

Offshore Support Vessel (OSV) Market – Key Takeaways

The offshore support vessel (OSV) market is poised for significant growth, driven by rising demand in offshore oil, gas, and renewable energy projects, advancements in vessel technology, and an increasing focus on sustainability and efficiency in maritime operations. To stay ahead of the curve, it’s essential to stay informed about the latest trends and insights. For more in-depth research and analysis, visit our Research and Development page to explore our syndicated reports and custom research services.