Report Details:
15 Companies Covered
128 Pages
Global Offshore Supply Vessels Market Size was valued at USD 12788.6 million in 2024. The Offshore Supply Vessels (OSV) industry is projected to grow from USD 1355.5 million in 2025 to USD 24130.96 million by 2035, exhibiting a compound annual growth rate (CAGR) of 5.94% during the forecast period (2025–2035). The market growth is driven by the increasing offshore oil and gas exploration, the shift toward deepwater and ultra-deepwater operations, and the rising deployment of specialized vessels for offshore wind energy installations. Moreover, global efforts toward fleet modernization and the adoption of eco-friendly technologies are enhancing operational efficiency and sustainability within the industry.
Market Research Future (MRFR) has published a cooked research report on the “Global Offshore Supply Vessels Market” that contains information from 2019 to 2035.
The Offshore Supply Vessels Market is estimated to register a CAGR of 5.94% during the forecast period of 2025 to 2035.
MRFR recognizes the following companies as the key players in the Global Offshore Supply Vessels Market: A.P. Moller – Maersk AS (Denmark), Siem Offshore AS (Norway), SEACOR Marine (US), Tidewater (US), Solstad Farstad (Norway), Bourbon Offshore (France), Havila Shipping (Norway), Vroon B.V. (Netherlands), Edison Chouest Offshore (US), and Abdon Callais Offshore LLC (US).
Offshore Supply Vessels Market Highlights
The Global Offshore Supply Vessels Market is expected to register a CAGR of 5.94% during the forecast period and reach USD 24130.96 million by 2035.
The global offshore supply vessels (OSV) sector plays a vital role in supporting offshore oil, gas, and renewable energy operations by transporting equipment, materials, and personnel to offshore platforms. As traditional shallow-water reserves deplete, exploration and production activities are moving toward deeper waters and harsher environments, creating strong demand for technologically advanced, high-capacity vessels.
The market is witnessing a strategic transition toward sustainability, with operators investing in hybrid and LNG-powered OSVs to comply with International Maritime Organization (IMO) emission standards. The growing expansion of offshore wind projects across Europe, North America, and Asia-Pacific has also emerged as a major growth catalyst, driving the need for specialized multipurpose and construction support vessels.
Additionally, the aging global OSV fleet—with many vessels nearing end-of-life—presents a key opportunity for replacement with newer, energy-efficient models. This modernization trend, coupled with the rising focus on cost-effective logistics solutions, is transforming fleet operations and improving profitability for operators.
The industry’s long-term growth outlook remains positive, supported by technological innovation, regulatory support, and increased offshore energy investments. North America continues to lead the market, while Asia-Pacific is rapidly emerging as the fastest-growing region due to growing offshore exploration and renewable energy initiatives.
Segment Analysis
The Global Offshore Supply Vessels Market is segmented based on Type, Application, and Region.
By Type, the market is divided into Anchor Handling Tug Supply (AHTS) Vessel, Platform Supply Vessel (PSV), Multipurpose Support Vessel (MSV), Standby & Rescue Vessel, Seismic Vessel, and Others. Among these, the Anchor Handling Tug Supply Vessel (AHTS) segment dominated the market in 2024 and is projected to maintain its lead through 2035. These vessels are critical for anchor handling, rig towing, and positioning in offshore drilling operations. Their robust towing capabilities and advanced winch systems make them indispensable for deepwater exploration and production activities.
Meanwhile, Platform Supply Vessels (PSVs) are witnessing steady demand due to their essential role in transporting cargo, equipment, and drilling materials between shore bases and offshore platforms.
Based on Application, the market is bifurcated into Shallow Water and Deep Water operations. The Shallow Water segment accounted for the largest market share in 2024, driven by high activity in nearshore oil and gas fields and coastal wind farms. However, the Deep Water segment is expected to record the fastest growth due to the increasing shift toward deeper reservoirs with higher production potential and long-term investment returns.
Regional Analysis
The Global Offshore Supply Vessels Market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
North America dominated the global OSV market in 2024, accounting for the largest revenue share. The U.S. and Canada are leading contributors, supported by robust offshore exploration and production activity in the Gulf of Mexico and the North Atlantic. The U.S. government’s strong focus on offshore wind energy development—under initiatives such as the Biden Administration’s target of 30 GW offshore wind capacity by 2030—is boosting demand for specialized OSVs. The region also benefits from advanced maritime infrastructure and the presence of major global OSV operators.
Europe holds a significant share of the OSV market, driven by extensive offshore wind development in the North Sea, the UK, Germany, and France. The region’s commitment to clean energy, coupled with stringent maritime emission regulations, is pushing operators to modernize fleets with hybrid propulsion systems and low-emission engines.
Asia-Pacific is expected to be the fastest-growing regional market during the forecast period, propelled by offshore oil and gas projects in China, India, and Malaysia, and large-scale offshore wind developments in Japan and South Korea. Rising energy consumption, government incentives for renewable energy, and expansion of coastal infrastructure are further accelerating regional market growth.
The region is witnessing steady growth due to increased offshore drilling in GCC countries and West Africa. Strategic investments in offshore exploration and favorable regulatory frameworks are supporting market expansion.
Latin America, led by Brazil and Argentina, represents a growing market, driven by deepwater oil exploration in the pre-salt basins and expanding offshore service contracts.
Key Findings of the Study
- The Global Offshore Supply Vessels Market is projected to reach USD 24130.96 million by 2035, growing at a CAGR of 5.94% from 2025 to 2035.
- North America held the largest market share in 2024, while Asia-Pacific is projected to be the fastest-growing region.
- Based on Type, the Anchor Handling Tug Supply (AHTS) segment dominated the market in 2024.
- Based on Application, the Shallow Water segment led the market, with Deep Water expected to register the highest growth during the forecast period.
- Major market players include A.P. Moller – Maersk AS, Siem Offshore AS, SEACOR Marine, Tidewater, Solstad Farstad, Bourbon Offshore, Havila Shipping, Vroon B.V., Edison Chouest Offshore, and Abdon Callais Offshore LLC.
- Key drivers include increasing offshore oil & gas exploration, rising renewable energy investments, and fleet modernization efforts.
- Market opportunities are expected to emerge from aging vessel replacement, hybrid propulsion adoption, and deepwater project expansion.