Offshore Supply Vessels (OSV) Market: By Type (Anchor-handling Tug Supply Vessels, Platform Support Vessels, Multipurpose Support Vessels, Emergency Response/Standby and Rescue Vessels, Crew Vessels, Seismic Vessels, Chase Vessels, and Others), By Application (Shallow Water and Deepwater), By End-User (Oil & Gas and Offshore Wind), and Geography

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Offshore Supply Vessels (OSV) Market size was valued at USD 22.0 billion in 2022 and is poised to grow at a significant CAGR of 4.1% from 2023 - 2029. Major offshore operators in the Golden Triangle are expected to play a leading role in market growth. Subsea drilling and transport activities are expected to increase as deepwater discoveries grow. Advances in seismic and drilling technologies are also likely to help offshore operations run more smoothly. The focus on safe vessel operation will increase when international water and equipment safety laws are revised. This necessitates efficient fleet utilization and fleet day rate optimization to improve the profitability of offshore operations. This opens up new opportunities for the drilling industry and research and development institutes to collaborate on innovative product development based on business needs. Also, environmental rules governing the use and extraction of fossil fuels are projected to spur the growth of efficient LNG bunkering networks. Tanker owners now have additional opportunities to contract with various regions near offshore oil production units. The demand for highly durable and speedier transport vessels is expected to spur R&D efforts to improve the technical features of AHTS, PSV, and MPSV. Various companies have engaged in fleet growth to replace aging boats and enhance their global market position. Bourbon, Tidewater, Total SA, and ExxonMobil are major players in the offshore support vessel sector, and Tidewater has invested in renovating and adding additional boats and securing contracts with various oil and gas companies. In addition, with shallow water reserves reaching maturity, oil and gas companies are looking at profound and ultra-deepwater potential to fulfill rising demand. This has boosted offshore and subsea activity investment. The shallow water sector accounts for the majority of the market. However, due to extreme climatic conditions, the vessels deployed here are not capable of working in deepwater or ultra-deepwater. Manufacturers will have an excellent opportunity to produce technologically advanced ships that withstand harsh environmental conditions. Technological advancements are one of the primary forces driving the growth of the offshore support vessel market. For example, the innovation of the Dynamic Positioning (DP) system for marine vessels is outstanding and widely acknowledged. Due to changing requirements and the necessity for upgrades, DP-1 ships are nearing the end of their service life and are only employed as crew supply vessels. The DP-2 and DP-3 vessels are becoming more popular in PSVs and are gaining market share. One example of a technology update that allows vessels to work under challenging conditions is the evolution of DP vessels.

Offshore Supply Vessels (OSV) market Recent Market Developments:
  • In March 2022, Havila Shipping bagged a contract for an offshore construction vessel Havila Phoenix from Nexans Norway. The vessel will be in service until the end of October 2022.
  • In March 2021, Ostensjo Rederi received a contract from Edda Wind for two additional commissioning service operation vessels (CSOV) and four vessels being constructed by it. These vessels are specially designed for service operations during the commissioning and operation of offshore wind farms. All six vessels being developed are based on zero-emission technology.
  • In December 2020, Siem Offshore launched its first hybrid vessel, Siem Symphony. This vessel is fitted with a 600 kWh chargeable battery pack as an additional power supply, which substantially lowers the vessel's fuel consumption. It is especially effective during standby mode when positioned dynamically or in ports.

Offshore Supply Vessels Osv Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

4.1%

Largest Market

Asia-Pacific

Fastest Growing Market

North America
Offshore Supply Vessels (OSV) Market Dynamics

Wind farm installation vessels are required to install and transfer wind turbines. Compared to other complex-structured offshore vessels, they are a more durable option. For example, these vessels must be large enough to transport offshore foundations, agile enough to pass through offshore wind farms, and capable of installing wind energy foundations in all weather. Due to increased demand for deepwater oil and gas drilling operations and improved viability of offshore oil and gas projects, the market for offshore support boats is expected to rise rapidly. The offshore oil and gas industry has pushed demand for Offshore Support Vessel (OSV) services. However, increasing demand for offshore wind has recently been noticed, owing to significant countries' greater focus on renewable energy. On the other hand, oil prices are a critical factor in determining OSV demand, and the high cost of offshore installations impacts oil and gas companies' profitability. The day rate of offshore support vessels is connected to fluctuating oil and gas prices, and ordering/launching new ships involves a large capital budget. Extreme offshore climatic conditions pose significant operational concerns for OSVs.

Offshore Supply Vessels Osv Market Segmentation

By Type
  • Anchor-handling tug supply vessels
  • Platform support vessels
  • Multipurpose support vessels
  • Emergency response/standby and rescue vessels
  • Crew vessels
  • Seismic vessels
  • Chasesse vessels
  • Others
By Application
  • Shallow water
  • Deepwater
By End User
  • Oil & gas
  • Offshore wind

Frequently Asked Questions

The offshore supply vessels osv market size was valued at USD 22.0 billion in 2022

The offshore supply vessels osv market key players are: Edison Chouest Tidewater Bourbon Offshore DOF Swires Maersk Supply Service Farstad Shipping Hornbeck Cosl Island Offshore Management Gulf Mark Havila Shipping

The offshore supply vessels osv market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
1. Executive Summary
2. Global Offshore Supply Vessels (OSV) Market Introduction 
2.1.Global Offshore Supply Vessels (OSV) Market  - Taxonomy
2.2.Global Offshore Supply Vessels (OSV) Market  - Definitions
2.2.1. Type
2.2.2.Application
2.2.3.End Users
2.2.4.Region
3. Global Offshore Supply Vessels (OSV) Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Global Offshore Supply Vessels (OSV) Market Analysis, 2018 - 2022 and Forecast 2023 - 2029
4.1.  Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Global Offshore Supply Vessels (OSV) Market  By  Type, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
5.1. Anchor-handling tug supply vessels
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Platform support vessels
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Multipurpose support vessels
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Emergency response/standby and rescue vessels
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Crew vessels
5.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
5.6. Seismic vessels
5.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.6.3. Market Opportunity Analysis 
5.7. Chasesse vessels
5.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.7.3. Market Opportunity Analysis 
5.8. Others
5.8.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.8.3. Market Opportunity Analysis 
6. Global Offshore Supply Vessels (OSV) Market  By Application, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
6.1. Shallow water
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Deepwater
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7. Global Offshore Supply Vessels (OSV) Market  By End Users, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
7.1. Oil & gas
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Offshore wind
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8. Global Offshore Supply Vessels (OSV) Market  By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9. North America Offshore Supply Vessels (OSV) Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
9.1.  Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Anchor-handling tug supply vessels
9.1.2.Platform support vessels
9.1.3.Multipurpose support vessels
9.1.4.Emergency response/standby and rescue vessels
9.1.5.Crew vessels
9.1.6.Seismic vessels
9.1.7.Chasesse vessels
9.1.8.Others
9.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Shallow water
9.2.2.Deepwater
9.3.  End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Oil & gas
9.3.2.Offshore wind
9.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10. Europe Offshore Supply Vessels (OSV) Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
10.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Anchor-handling tug supply vessels
10.1.2.Platform support vessels
10.1.3.Multipurpose support vessels
10.1.4.Emergency response/standby and rescue vessels
10.1.5.Crew vessels
10.1.6.Seismic vessels
10.1.7.Chasesse vessels
10.1.8.Others
10.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Shallow water
10.2.2.Deepwater
10.3.  End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Oil & gas
10.3.2.Offshore wind
10.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11. Asia Pacific (APAC) Offshore Supply Vessels (OSV) Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
11.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Anchor-handling tug supply vessels
11.1.2.Platform support vessels
11.1.3.Multipurpose support vessels
11.1.4.Emergency response/standby and rescue vessels
11.1.5.Crew vessels
11.1.6.Seismic vessels
11.1.7.Chasesse vessels
11.1.8.Others
11.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Shallow water
11.2.2.Deepwater
11.3.  End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Oil & gas
11.3.2.Offshore wind
11.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12. Middle East and Africa (MEA) Offshore Supply Vessels (OSV) Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
12.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Anchor-handling tug supply vessels
12.1.2.Platform support vessels
12.1.3.Multipurpose support vessels
12.1.4.Emergency response/standby and rescue vessels
12.1.5.Crew vessels
12.1.6.Seismic vessels
12.1.7.Chasesse vessels
12.1.8.Others
12.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Shallow water
12.2.2.Deepwater
12.3.  End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Oil & gas
12.3.2.Offshore wind
12.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13. Latin America Offshore Supply Vessels (OSV) Market,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
13.1.  Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Anchor-handling tug supply vessels
13.1.2.Platform support vessels
13.1.3.Multipurpose support vessels
13.1.4.Emergency response/standby and rescue vessels
13.1.5.Crew vessels
13.1.6.Seismic vessels
13.1.7.Chasesse vessels
13.1.8.Others
13.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Shallow water
13.2.2.Deepwater
13.3.  End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Oil & gas
13.3.2.Offshore wind
13.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Edison Chouest
14.2.2.Tidewater
14.2.3.Bourbon Offshore
14.2.4.DOF
14.2.5.Swires
14.2.6.Maersk Supply Service
14.2.7.Farstad Shipping
14.2.8.Hornbeck
14.2.9.Cosl
14.2.10.Island Offshore Management
14.2.11.Gulf Mark
14.2.12.Havila Shipping
15. Research Methodology 
16. Appendix and Abbreviations 
  • Edison Chouest
  • Tidewater
  • Bourbon Offshore
  • DOF
  • Swires
  • Maersk Supply Service
  • Farstad Shipping
  • Hornbeck
  • Cosl
  • Island Offshore Management
  • Gulf Mark
  • Havila Shipping

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