Global 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), Application (Shallow Water and Deepwater), End-User (Oil & Gas and Offshore Wind), and Geography

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The Offshore Supply Vessels (OSV) market is valued at USD 22.0 billion in 2021 and is poised to grow at a significant CAGR of 4.1% over 2022–2028. 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.

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

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Largest Market


Fastest Growing Market

North America
Offshore Supply Vessels (OSV) Market

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.

Key Features of the Reports

  • The Offshore Supply Vessels (OSV) Market report provides granular level information about the market size, regional market share, historic market (2016-2021), and forecast (2022-2028)
  • 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

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
  • Chase’sse vessels
  • Others
  • Shallow water
  • Deepwater
End User
  • Oil & gas
  • Offshore wind

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.

  • Edison Chouest
  • Tidewater
  • Bourbon Offshore
  • DOF
  • Swires
  • Maersk Supply Service
  • Farstad Shipping
  • Hornbeck
  • Cosl
  • Island Offshore Management
  • Gulf Mark
  • Havila Shipping