Offshore Supply Vessel Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 23.85 Billion
CAGR (2026-2031)	6.12%
Fastest Growing Segment	Shallow Water
Largest Market	North America
Market Size (2031)	USD 34.06 Billion

Market Overview

The Global Offshore Supply Vessel Market will grow from USD 23.85 Billion in 2025 to USD 34.06 Billion by 2031 at a 6.12% CAGR. Offshore Supply Vessels (OSVs) are specialized maritime assets designed to facilitate the logistical support of offshore exploration, production, and construction initiatives by transporting essential equipment, cargo, and personnel to marine installations. The primary drivers propelling this market include a resurgence in global upstream oil and gas activities and the concurrent, rapid expansion of renewable energy infrastructure, specifically offshore wind farms. To illustrate this rising operational tempo, according to the International Marine Contractors Association, in 2025, the industry witnessed a 16% year-on-year increase in vessel inspections, signaling a robust escalation in fleet utilization and active deployment.

Despite this positive trajectory, the market faces a substantial impediment regarding the aging global fleet and the high capital intensity required for fleet modernization. Many vessel owners encounter difficulties in securing financing for newbuilds due to volatile energy prices and strict environmental regulatory pressures, creating a supply-side bottleneck. Consequently, the limited availability of modern, compliant tonnage constitutes a significant challenge that could constrain the market's capacity to meet future demand requirements effectively.

Key Market Drivers

The Resurgence in Offshore Oil and Gas Exploration and Production Activities serves as the primary catalyst propelling the Global Offshore Supply Vessel Market. Heightened energy security concerns and stable commodity prices have incentivized major energy operators to sanction complex deepwater projects, directly increasing the utilization of high-specification support vessels. This upward trajectory in upstream capital expenditure is evident in the substantial order books reported by leading offshore contractors, which signals long-term fleet requirements. For instance, according to Subsea7, November 2025, in the 'Third Quarter 2025 Results', the company reported a record backlog of $13.9 billion, providing enhanced visibility for vessel demand through 2026 and beyond. This robust contracting activity underscores a structural shift where years of underinvestment are being corrected by aggressive field development campaigns, absorbing available tonnage.

Concurrently, the Rapid Expansion of the Global Offshore Wind Energy Sector is creating a critical parallel demand stream for specialized maritime assets. As nations accelerate their energy transition targets, the installation and maintenance of wind turbines require a growing number of modernized vessels capable of operating in challenging marine environments. According to the Global Wind Energy Council, June 2025, in the 'Global Offshore Wind Report 2025', annual offshore wind installations are expected to double in 2025 compared to previous levels, signaling a sharp uptake in project execution. This dual demand from both fossil fuel and renewable sectors has significantly tightened vessel supply, pushing charter rates upward as fleet availability shrinks. According to Tidewater Inc., November 2025, in the 'Third Quarter 2025 Results', the company’s average day rate improved to $22,798, reflecting the market’s constrained capacity to meet these escalating operational requirements.

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Key Market Challenges

The challenge of an aging global fleet coupled with high capital intensity for modernization creates a severe supply-side bottleneck that directly impedes the growth of the Global Offshore Supply Vessel Market. As strict environmental regulations mandate the use of greener, more efficient tonnage, a significant portion of the existing fleet becomes obsolete or non-compliant, effectively shrinking the pool of deployable assets. However, vessel owners face substantial hurdles in securing the necessary capital to commission newbuilds, primarily due to volatile energy prices and hesitancy from traditional lenders to finance fossil-fuel-linked assets. This inability to rapidly replenish and upgrade the fleet restricts the industry's capacity to bid for and execute complex projects, particularly in the burgeoning offshore wind sector which requires modern, high-specification vessels.

This scarcity of compliant tonnage forces project developers to delay or scale back planned initiatives, thereby contracting the addressable market for OSV operators. The impact of these supply chain constraints is quantifiable. According to the Global Wind Energy Council, in 2025, the organization downgraded its global outlook for offshore wind capacity additions by 10% for the 2024-2028 period, citing supply chain vulnerabilities including the critical shortage of installation and support vessels as a primary factor. This reduction in project volume directly translates to lost revenue opportunities and stunted expansion for the OSV market, as the fleet acts as the limiting factor for broader offshore development.

Key Market Trends

The Integration of Predictive Maintenance and Digital Twin Technology is reshaping operations as operators leverage Low Earth Orbit (LEO) satellite connectivity for real-time data transfer. By adopting hybrid network solutions, vessel owners overcome bandwidth limitations to enable continuous equipment monitoring and predictive maintenance. This digital shift optimizes fuel consumption and increases operational uptime by predicting failures before they occur. According to KVH Industries, December 2024, in the 'Vroon and KVH Complete Deployment of Starlink/VSAT Hybrid Connectivity on 58 Vessels' press release, Vroon completed the installation of hybrid Starlink and VSAT connectivity systems across 58 of its offshore vessels to streamline fleet operations.

Concurrently, the Widespread Adoption of Hybrid-Electric Propulsion Systems is accelerating as operators retrofit fleets to meet environmental regulations. This trend involves integrating battery energy storage systems with conventional engines to optimize load management and reduce fuel consumption during dynamic positioning (DP) operations. This technological evolution allows vessels to operate efficiently in variable load conditions, directly addressing sustainability goals. According to Riviera Maritime Media, December 2024, in the 'SEACOR Marine orders two PSVs, exits AHTS vessel sector' article, Seacor Marine ordered two new battery-hybrid platform supply vessels equipped with energy storage systems to enhance fuel efficiency.

Segmental Insights

The shallow water segment creates the most rapid expansion within the global offshore supply vessel market due to the increasing development of renewable energy infrastructure. Most operational and planned offshore wind farms are located in shallow coastal waters, necessitating a dedicated fleet for installation and maintenance support. Furthermore, national oil companies continue to invest in maintaining mature shallow-water oil fields to ensure domestic energy security. This dual demand from both the renewable sector and traditional hydrocarbon extraction ensures that shallow-water vessels remain essential for cost-efficient logistics and supply chain continuity.

Regional Insights

North America commands the leading position in the Global Offshore Supply Vessel Market, driven by extensive deepwater exploration and production activities, particularly within the Gulf of Mexico. This dominance is reinforced by the region's well-established offshore infrastructure and consistent demand for support vessels in the oil and gas sector. Additionally, the market is diversifying with significant investments in offshore renewable energy, as the Bureau of Ocean Energy Management (BOEM) actively leases areas for wind farm development. The strategic implementation of the Jones Act further strengthens the regional market by protecting domestic fleet operations and ensuring a stable supply chain for maritime logistics.

Recent Developments

In March 2025, Sea1 Offshore entered into shipbuilding contracts with Cosco Shipping for the construction of two additional high-end Offshore Energy Support Vessels. These new units are based on a design similar to the company’s previously ordered vessels and possess advanced capabilities to serve both the oil and gas and renewable energy sectors. The vessels are scheduled for delivery between the third and fourth quarters of 2027. This strategic investment reflects the company's focus on renewing its fleet with versatile, modern tonnage capable of meeting the evolving demands of the global offshore energy industry.
In November 2024, Solstad Offshore secured multiple contract awards and extensions for its fleet of offshore support vessels, with a combined value of approximately USD 60 million. The agreements included a firm one-and-a-half-year contract with Petrobras for the Construction Support Vessel Normand Valiant, scheduled to commence in February 2025 in Brazilian waters. Additionally, the company obtained extensions and new assignments for several Anchor Handling Tug Supply vessels to support drilling campaigns offshore Western Australia, ensuring high utilisation rates for its fleet and strengthening its position in key global energy markets.
In August 2024, Vard signed a significant contract with the Norwegian shipping group Island Offshore for the design and construction of a second hybrid-powered Ocean Energy Construction Vessel. Based on the VARD 3 25 design, this state-of-the-art vessel is tailored for a broad range of subsea operations, including inspection, maintenance, and repair, as well as pipe laying and underwater infrastructure construction. The vessel will feature a 1.7 MWh energy storage system for hybrid propulsion and is prepared for low-emission alternative fuels, reinforcing the companies' shared commitment to reducing the environmental footprint of offshore operations.
In June 2024, Damen Shipyards Group unveiled a pioneering offshore charging concept designed to facilitate the transition to electric operations in the offshore supply sector. This innovative system enables fully electric Crew Transfer Vessels to charge directly from a Commissioning Service Operations Vessel equipped with a specialised charger, thereby eliminating the need for fixed offshore charging infrastructure on wind turbines. The solution allows vessel operators to invest in sustainable, zero-emission technology immediately, leveraging the larger vessel's position to ensure safe and efficient energy transfer even in varying wave conditions, thus significantly reducing emissions during the operational phase of offshore wind farms.

Key Market Players

Bourbon Corporation SA
Tidewater Inc.
Solstad Farstad
Maersk Supply Service A/S
Edison Chouest Offshore
Seacor Marine Holdings Inc.
Abdon Callais Offshore LLC
Swire Pacific Offshore
DOF ASA
PACC Offshore Services Holdings Ltd

By Vessel Type	By Water Depth	By Application	By Region
Anchor Handling Tug Supply Vessel (AHTS) Platform Supply Vessels (PSV) Crew Vessel Others	Shallow Water Deepwater Ultra Deepwater	Oil & Gas Offshore Wind Patrolling Research & Surveying Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Offshore Supply Vessel Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Offshore Supply Vessel Market, By Vessel Type:

Anchor Handling Tug Supply Vessel (AHTS)
Platform Supply Vessels (PSV)
Crew Vessel
Others

Offshore Supply Vessel Market, By Water Depth:

Shallow Water
Deepwater
Ultra Deepwater

Offshore Supply Vessel Market, By Application:

Oil & Gas
Offshore Wind
Patrolling
Research & Surveying
Others

Offshore Supply Vessel Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Offshore Supply Vessel Market.

Available Customizations:

Global Offshore Supply Vessel Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Offshore Supply Vessel Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Offshore Supply Vessel Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Vessel Type (Anchor Handling Tug Supply Vessel (AHTS), Platform Supply Vessels (PSV), Crew Vessel, Others)

5.2.2. By Water Depth (Shallow Water, Deepwater, Ultra Deepwater)

5.2.3. By Application (Oil & Gas, Offshore Wind, Patrolling, Research & Surveying, Others)

5.2.4. By Region

5.2.5. By Company (2025)

5.3. Market Map

6. North America Offshore Supply Vessel Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Vessel Type

6.2.2. By Water Depth

6.2.3. By Application

6.2.4. By Country

6.3. North America: Country Analysis

6.3.1. United States Offshore Supply Vessel Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Vessel Type

6.3.1.2.2. By Water Depth

6.3.1.2.3. By Application

6.3.2. Canada Offshore Supply Vessel Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Vessel Type

6.3.2.2.2. By Water Depth

6.3.2.2.3. By Application

6.3.3. Mexico Offshore Supply Vessel Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Vessel Type

6.3.3.2.2. By Water Depth

6.3.3.2.3. By Application

7. Europe Offshore Supply Vessel Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Vessel Type

7.2.2. By Water Depth

7.2.3. By Application

7.2.4. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Offshore Supply Vessel Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Vessel Type

7.3.1.2.2. By Water Depth

7.3.1.2.3. By Application

7.3.2. France Offshore Supply Vessel Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Vessel Type

7.3.2.2.2. By Water Depth

7.3.2.2.3. By Application

7.3.3. United Kingdom Offshore Supply Vessel Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Vessel Type

7.3.3.2.2. By Water Depth

7.3.3.2.3. By Application

7.3.4. Italy Offshore Supply Vessel Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Vessel Type

7.3.4.2.2. By Water Depth

7.3.4.2.3. By Application

7.3.5. Spain Offshore Supply Vessel Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Vessel Type

7.3.5.2.2. By Water Depth

7.3.5.2.3. By Application

8. Asia Pacific Offshore Supply Vessel Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Vessel Type

8.2.2. By Water Depth

8.2.3. By Application

8.2.4. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Offshore Supply Vessel Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Vessel Type

8.3.1.2.2. By Water Depth

8.3.1.2.3. By Application

8.3.2. India Offshore Supply Vessel Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Vessel Type

8.3.2.2.2. By Water Depth

8.3.2.2.3. By Application

8.3.3. Japan Offshore Supply Vessel Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Vessel Type

8.3.3.2.2. By Water Depth

8.3.3.2.3. By Application

8.3.4. South Korea Offshore Supply Vessel Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Vessel Type

8.3.4.2.2. By Water Depth

8.3.4.2.3. By Application

8.3.5. Australia Offshore Supply Vessel Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Vessel Type

8.3.5.2.2. By Water Depth

8.3.5.2.3. By Application

9. Middle East & Africa Offshore Supply Vessel Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Vessel Type

9.2.2. By Water Depth

9.2.3. By Application

9.2.4. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Offshore Supply Vessel Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Vessel Type

9.3.1.2.2. By Water Depth

9.3.1.2.3. By Application

9.3.2. UAE Offshore Supply Vessel Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Vessel Type

9.3.2.2.2. By Water Depth

9.3.2.2.3. By Application

9.3.3. South Africa Offshore Supply Vessel Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Vessel Type

9.3.3.2.2. By Water Depth

9.3.3.2.3. By Application

10. South America Offshore Supply Vessel Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Vessel Type

10.2.2. By Water Depth

10.2.3. By Application

10.2.4. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Offshore Supply Vessel Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Vessel Type

10.3.1.2.2. By Water Depth

10.3.1.2.3. By Application

10.3.2. Colombia Offshore Supply Vessel Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Vessel Type

10.3.2.2.2. By Water Depth

10.3.2.2.3. By Application

10.3.3. Argentina Offshore Supply Vessel Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Vessel Type

10.3.3.2.2. By Water Depth

10.3.3.2.3. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Offshore Supply Vessel Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Bourbon Corporation SA

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Tidewater Inc.

15.3. Solstad Farstad

15.4. Maersk Supply Service A/S

15.5. Edison Chouest Offshore

15.6. Seacor Marine Holdings Inc.

15.7. Abdon Callais Offshore LLC

15.8. Swire Pacific Offshore

15.9. DOF ASA

15.10. PACC Offshore Services Holdings Ltd

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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