Offshore Supply Vessels Market Report 2025 (Global Edition)

Global Offshore Supply Vessels Market Report 2025 Market Size Split by Type (Anchor Handling Tug Supply, Platform Supply, Multipurpose Support, Standby & Rescue, Seismic, Crew Vessels, Chase Vessel, O...

Offshore Supply Vessels Market Report Description

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Competitive Landscape of the Offshore Supply Vessels Market

The competitive landscape of the Offshore Supply Vessels (OSV) market is characterized by intense competition among key players striving to maintain market share and profitability. Major companies in the industry include leading offshore service providers such as Tidewater Inc., Bourbon Corporation, Edison Chouest Offshore, Siem Offshore, and DOF ASA, among others.

Offshore Supply Vessels Industry News

In March 2023, Maersk entered into a three-year contract with Petrobras, a state-owned Brazilian multinational corporation in the petroleum industry, to use three L-class anchor handlers to carry out a range of anchor handling activities and rig movements.

(Source: https://www.maersksupplyservice.com/2023/03/07/petrobras-contract-brazil/)

In March 2023,Tidewater Inc. announced a definitive agreement to purchase 37 of Solstad Offshore ASA's (SOFF) platform supply vessels (PSVs).

(Source: https://investor.tdw.com/news/news-details/2023/Tidewater-Announces-the-Acquisition-of-37-Platform-Supply-Vessels-from-Solstad-Offshore/default.aspx)

Top Companies Market Share in Offshore Supply Vessels Industry: (In no particular order of Rank)

• Wartsila (Finland)
• Damen
•  Shipyards Group (Netherlands)
• Solstad Offshore ASA (Norway)
• Maersk Supply Service (Denmark)
• SEACOR Marine Holdings (U.S.)
• Tidewater Marine (U.S.)
• Siem Offshore (Norway)
• BOURBON (France)
• "K" line (Kawasaki Kisen Kaisha
• Ltd) (Japan)
• MMA Offshore Limited (Australia)
• Havila Shipping ASA (Norway)
• Edison Chouest Offshore (U.S.)
• Nam Cheong Offshore Pte Ltd (Malaysia)
• Hornbeck Offshore (U.S.)
• Vroon (Netherland
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Offshore Supply Vessels Market

Which Region Will Dominate the Offshore Supply Vessels Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America emerges as the dominant region in the Offshore Supply Vessels (OSV) market due to several key factors. Firstly, the region boasts extensive offshore oil and gas reserves, particularly in the Gulf of Mexico, which has historically been a significant hub for offshore exploration and production activities. This abundant resource base drives substantial demand for OSVs to support drilling operations, transportation of personnel, and supplies to offshore rigs and platforms.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific emerges as the fastest-growing region in the Offshore Supply Vessels (OSV) market due to several compelling factors. Firstly, the region is witnessing rapid industrialization and urbanization, driving robust demand for energy resources, including offshore oil and gas. As countries in Asia-Pacific strive for economic growth and development, there is an increasing focus on exploring and exploiting offshore hydrocarbon reserves to meet energy needs. This surge in offshore exploration and production activities necessitates a corresponding demand for OSVs to support drilling operations, supply chain logistics, and personnel transportation.

The current report Scope analyzes Offshore Supply Vessels Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Offshore Supply Vessels Market

According to Cognitive Market Research, the global Offshore Supply Vessels market size was estimated at USD 23512.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 9404.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2%from 2024 to 2031.In the North America region, the Offshore Supply Vessels (OSV) market is characterized by a robust maritime industry and extensive offshore oil and gas exploration and production activities. The region is home to some of the world's largest oil and gas companies, driving the demand for a wide range of OSV services. Segmentation analysis reveals a diverse market landscape, with OSVs catering to various segments such as offshore drilling support, seismic survey, offshore wind farm support, and offshore construction. In conclusion, North America presents lucrative opportunities for stakeholders in the Offshore Supply Vessels market due to its vast offshore energy reserves and ongoing exploration and development activities.

• According to Cognitive Market Research, the US had a major share in the Offshore Supply Vessels market with a market size of USD 7420.45million in 2024 and is projected to grow at a CAGR of 5.0%during the forecast period. The demand is amplified by the nation's its vast offshore energy reserves and ongoing exploration and development activities propel consistent growth. 
• The Canada Offshore Supply Vessels market had a market share of USD 1128.59million in 2024 and is projected to grow at a CAGR of 6.0%during the forecast period. Canada's rising ongoing exploration and development activities to increased usage of Offshore Supply Vessels.
• The Mexico Offshore Supply Vessels market is projected to witness growth at a CAGR of 5.7%during the forecast period with a market size of USD 855.84million in 2024.

 

Europe Offshore Supply Vessels Market

According to Cognitive Market Research, the global Offshore Supply Vessels market size was estimated at USD 23512.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 7053.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5%from 2024 to 2031.In the European region, the Offshore Supply Vessels (OSV) market is characterized by a strong maritime tradition and a significant presence of offshore oil and gas activities, particularly in the North Sea. The region's extensive coastline and strategic location make it a key hub for offshore energy exploration, production, and transportation. Segmentation analysis reveals a diverse market landscape, with OSVs serving various segments such as offshore drilling support, subsea construction, offshore wind farm maintenance, and marine logistics. In conclusion, Europe offers lucrative opportunities for stakeholders in the Offshore Supply Vessels market, supported by its well-developed maritime infrastructure, stringent safety and environmental regulations, and significant investments in offshore energy projects.

• The United Kingdom Offshore Supply Vessels market had a market share of USD 1185.01million in 2024 and is projected to grow at a CAGR of 6.3%during the forecast period. In the UK, Offshore Supply Vessels sales witness an upswing due to the nations -developed maritime infrastructure, stringent safety and environmental regulations.
• The France Offshore Supply Vessels market is projected to witness growth at a CAGR of 4.7%during the forecast period with a market size of USD 648.94million in 2024.
• According to Cognitive Market Research, the Germany Offshore Supply Vessels market size was valued at USD 1396.62million in 2024 and is projected to grow at a CAGR of 5.7%during the forecast period. In Germany, Offshore Supply Vessels sales surge due to the nation's stringent safety and environmental regulations. 
• The Italy Offshore Supply Vessels market is projected to witness growth at a CAGR of 4.9%during the forecast period with a market size of USD 606.61million in 2024.
• The Russia Offshore Supply Vessels market is projected to witness growth at a CAGR of 4.5%during the forecast period with a market size of USD 1093.32million in 2024.
• The Spain Offshore Supply Vessels market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 578.40million in 2024.
• The Luxembourg Offshore Supply Vessels market is projected to witness growth at a CAGR of 5.6%during the forecast period with a market size of USD 218.66million in 2024.
• The Portugal Offshore Supply Vessels market is projected to witness growth at a CAGR of 5.3%during the forecast period with a market size of USD 148.13million in 2024.
• The Greece Offshore Supply Vessels market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 84.64million in 2024.
• Rest of Europe Offshore Supply Vessels market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 1093.32million in 2024.

 

Asia Pacific Offshore Supply Vessels Market

According to Cognitive Market Research, the global Offshore Supply Vessels market size was estimated at USD 23512.2Million out of which Asia Pacific held the market ofaround23% of the global revenue with a market size of USD 5407.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0%from 2024 to 2031.In the Asia Pacific region, the Offshore Supply Vessels (OSV) market is experiencing significant growth driven by expanding offshore oil and gas exploration and production activities, as well as the rapid development of offshore wind energy projects. Regional analysis indicates a diverse market landscape across countries like China, Australia, among others, each contributing to the overall growth of the OSV market in the region. Segmentation analysis reveals various segments served by OSVs, including offshore drilling support, seismic survey, offshore construction, and offshore wind farm support. In conclusion, the Asia Pacific region presents immense opportunities for stakeholders in the Offshore Supply Vessels market due to its burgeoning offshore energy sector and increasing demand for maritime services.

• According to Cognitive Market Research, the China Offshore Supply Vessels market size was valued at USD 2433.51 million in 2024 and is projected to grow at a CAGR of 8.5%during the forecast period. Offshore Supply Vessels sales surge in China due to the nation's burgeoning offshore energy sector and increasing demand for maritime services.
• The Japan Offshore Supply Vessels market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 746.28 million in 2024.
• The India Offshore Supply Vessels market had a market share of USD 648.94 million in 2024 and is projected to grow at a CAGR of 10.8%during the forecast period. The demand is augmented by India's increasing demand for maritime services.
• The South Korea Offshore Supply Vessels market is projected to witness growth at a CAGR of 8.1%during the forecast period with a market size of USD 540.78 million in 2024.
• The Australia Offshore Supply Vessels market is projected to witness growth at a CAGR of 8.7%during the forecast period with a market size of USD 281.21 million in 2024.
• The South East Asia Offshore Supply Vessels market is projected to witness growth at a CAGR of 10.0% during the forecast period with a market size of USD 373.14 million in 2024.
• The Rest of Asia Pacific Offshore Supply Vessels market is projected to witness growth at a CAGR of 8.8%during the forecast period with a market size of USD 383.95 million in 2024.

 

South America Offshore Supply Vessels Market

According to Cognitive Market Research, the global Offshore Supply Vessels market size was estimated at USD 23512.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 1175.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4%from 2024 to 2031.In the Latin America region, the Offshore Supply Vessels (OSV) market is shaped by the region's extensive offshore oil and gas reserves, particularly in countries like Brazil, Mexico, and Venezuela. Regional analysis indicates varying levels of offshore activity across different countries, with Brazil emerging as a key player in deep-water exploration and production. Segmentation analysis reveals a diverse market landscape, with OSVs catering to various segments such as offshore drilling support, subsea construction, seismic survey, and offshore logistics. In conclusion, Latin America presents substantial opportunities for stakeholders in the Offshore Supply Vessels market, driven by ongoing offshore exploration and production activities and the region's vast untapped hydrocarbon reserves.

• According to Cognitive Market Research, the Brazil Offshore Supply Vessels market size was valued at USD 503.16million in 2024 and is projected to grow at a CAGR of 7.0%during the forecast period. Offshore Supply Vessels sales flourish in Brazil due to the nation's ongoing offshore exploration and production activities.
• The Argentina Offshore Supply Vessels market had a market share of USD 197.50million in 2024 and is projected to grow at a CAGR of 7.3%during the forecast period. The demand is augmented by Argentina's vast untapped hydrocarbon reserves.
• The Colombia Offshore Supply Vessels market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 104.63 million in 2024.
• The Peru Offshore Supply Vessels market is projected to witness growth at a CAGR of 6.6%during the forecast period with a market size of USD 96.40 million in 2024.
• The Chile Offshore Supply Vessels market is projected to witness growth at a CAGR of 6.7%during the forecast period with a market size of USD 84.64 million in 2024.
• The Rest of Latin America Offshore Supply Vessels market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 189.27 million in 2024.

Middle East and Africa Offshore Supply Vessels Market

According to Cognitive Market Research, the global Offshore Supply Vessels market size was estimated at USD 23512.2Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 470.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7%from 2024 to 2031. MEA the Offshore Supply Vessels (OSV) market is experiencing significant growth driven by expanding offshore oil and gas exploration and production activities, as well as the rapid development of offshore wind energy projects. Regional analysis indicates a diverse market landscape across countries like South Africa, Turkey among others, each contributing to the overall growth of the OSV market in the region. Segmentation analysis reveals various segments served by OSVs, including offshore drilling support, seismic survey, offshore construction, and offshore wind farm support. In conclusion, the Asia Pacific region presents immense opportunities for stakeholders in the Offshore Supply Vessels market due to its burgeoning offshore energy sector and increasing demand for maritime services.

• According to Cognitive Market Research, the GCC Countries Offshore Supply Vessels market size was valued at USD 201.26million in 2024 and is projected to grow at a CAGR of 7.5%during the forecast period. Offshore Supply Vessels sales flourish in the GCC Countries due to the burgeoning offshore energy sector and increasing demand for maritime services.
• The Egypt Offshore Supply Vessels market is projected to witness growth at a CAGR of 7.0%during the forecast period with a market size of USD 49.38 million in 2024.
• The South Africa Offshore Supply Vessels market is projected to witness growth at a CAGR of 7.7%during the forecast period with a market size of USD 74.30 million in 2024. Offshore Supply Vessels sales flourish in South Africa due to the region's increasing demand for maritime services.
• The Turkey Offshore Supply Vessels market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 40.44 million in 2024.
• The Nigeria Offshore Supply Vessels market is projected to witness growth at a CAGR of 5.8%during the forecast period with a market size of USD 49.38 million in 2024.
• The Rest of MEA Offshore Supply Vessels market is projected to witness growth at a CAGR of 5.7%during the forecast period with a market size of USD 55.49 million in 2024.

Offshore Supply Vessels Market Analysis

Offshore Supply Vessels Type Segment Analysis

According to Cognitive Market Research, the dominating category is the Platform Supply. PS play a crucial role in transporting essential supplies, equipment, and personnel to offshore platforms and rigs. They are equipped with dynamic positioning systems, making them suitable for operating in challenging offshore environments. PSVs are in high demand due to the increasing offshore exploration and production activities globally, particularly in regions like the North Sea, Gulf of Mexico, and Asia-Pacific. Additionally, the versatility of PSVs allows them to support various offshore operations, including drilling, production, and construction, further solidifying their dominance in the OSV market.

The fastest-growing category in the Offshore Supply Vessels market is the Crew Vessels. Crew vessels are specially designed for transporting personnel to and from offshore installations quickly and safely. With the expansion of offshore wind farms, oil and gas exploration in remote locations, and the need for offshore maintenance activities, there is a growing demand for crew vessels to support these operations. The rise in crew transfer activities, coupled with advancements in vessel design and technology to enhance passenger comfort and safety, drives the rapid growth of this segment in the OSV market.

• Anchor Handling Tug Supply
• Platform Supply
• Multipurpose Support
• Standby & Rescue
• Seismic
• Crew Vessels
• Chase Vessel
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Offshore Supply Vessels Industry. Request a Free Sample PDF!

Offshore Supply Vessels Application Segment Analysis

According to Cognitive Market Research, the dominating category is the Shallow Water application. Shallow water operations typically involve oil and gas exploration and production activities in water depths ranging from a few meters to a few hundred meters. These operations often occur closer to shore, where platforms and rigs are relatively easier to access. Shallow water applications account for a significant portion of OSV demand globally due to the presence of abundant shallow water reserves in regions like the Gulf of Mexico, Southeast Asia, and the North Sea. Additionally, shallow water operations require specialized vessels capable of navigating in relatively confined spaces while maintaining high manoeuvrability, further solidifying the dominance of this category in the OSV market.

The fastest-growing category in the Offshore Supply Vessels market is the deep-water application. Deepwater operations involve oil and gas exploration and production activities in water depths exceeding 1,000 meters. With technological advancements enabling the exploitation of deep-water reserves, there is a growing demand for specialized OSVs designed to support these operations. Deepwater applications require vessels equipped with advanced dynamic positioning systems, sophisticated navigation equipment, and specialized machinery for deep-water drilling and production activities. As companies increasingly venture into deeper waters in search of untapped hydrocarbon reserves, the demand for OSVs tailored to deep-water applications is expected to experience significant growth, making it the fastest-growing category in the OSV market.

• Shallow Water
• Deepwater

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Offshore Supply Vessels End User Segment Analysis

According to Cognitive Market Research, the dominating category is the Offshore Oil & Gas sector. Offshore oil and gas exploration and production activities require a wide range of support vessels, including OSVs, to transport personnel, equipment, and supplies to offshore rigs and platforms. The offshore oil and gas industry has traditionally been a major driver of demand for OSVs, particularly in regions with extensive offshore reserves such as the Gulf of Mexico, North Sea, and West Africa. The dominance of the Offshore Oil & Gas sector in the OSV market is attributed to the ongoing demand for energy resources, the expansion of offshore drilling operations, and the need for efficient logistics and support services to sustain offshore production activities.

The fastest-growing category in the Offshore Supply Vessels market is the Offshore Wind sector. With the global shift towards renewable energy sources, there has been a significant increase in the development of offshore wind farms, particularly in regions with favorable wind conditions such as Northern Europe, East Asia, and the United States. Offshore wind farms require specialized support vessels, including Crew Transfer Vessels (CTVs) and Installation Jack-up Vessels, for activities such as turbine installation, maintenance, and crew transfer. The growing investments in offshore wind projects, coupled with supportive government policies promoting clean energy, drive the rapid expansion of the Offshore Wind sector in the OSV market.

• Offshore Oil & Gas
• Offshore Wind
• Others

Offshore Supply Vessels Fuel Type Segment Analysis

According to Cognitive Market Research, the dominating category is Fuel Oil. Historically, fuel oil has been the primary fuel used in conventional OSVs due to its widespread availability and relatively lower initial investment cost compared to alternative fuels. Many existing OSVs are equipped with engines designed to run on fuel oil, and the infrastructure for fuel oil storage and distribution is well-established in ports and maritime facilities worldwide. Additionally, the compatibility of fuel oil with existing engine technologies and vessel designs further contributes to its dominance in the OSV market.

The fastest-growing category in the Offshore Supply Vessels market is LNG (Liquefied Natural Gas). LNG-powered OSVs are gaining traction as a cleaner and more sustainable alternative to traditional fuel oil-powered vessels. LNG offers environmental benefits such as lower emissions of sulphur oxides (SOx), nitrogen oxides (NOx), and particulate matter, contributing to compliance with increasingly stringent environmental regulations governing maritime emissions. Additionally, LNG-powered OSVs may benefit from incentives and subsidies aimed at promoting cleaner maritime transport. The increasing focus on environmental sustainability and regulatory pressures to reduce greenhouse gas emissions are driving the rapid growth of LNG-powered vessels in the OSV market.

• Fuel Oil
• LNG

Offshore Supply Vessels Vessels Material Segment Analysis

According to Cognitive Market Research, the dominating category for vessels material is Steel. Steel has long been the preferred material for constructing OSVs due to its robustness, durability, and suitability for withstanding harsh offshore conditions. Steel offers excellent strength-to-weight ratio, corrosion resistance, and structural integrity, making it ideal for building large and heavy-duty vessels required for offshore operations. Moreover, steel vessels are relatively easier to fabricate, repair, and maintain compared to other materials, providing cost-efficiency over the vessel's lifespan. These factors contribute to the dominance of steel as the primary material choice for OSVs in the market.

The fastest-growing category in the Offshore Supply Vessels market is Composite Materials. Composite materials, such as fiberglass and carbon fiber reinforced polymers (CFRP), are increasingly gaining popularity in the construction of OSVs due to their lightweight, high strength, and corrosion-resistant properties. Composite materials offer significant weight savings compared to traditional steel construction, resulting in improved fuel efficiency, higher payload capacity, and reduced operational costs. Additionally, composite materials exhibit excellent fatigue resistance and require minimal maintenance, leading to longer service life and lower lifecycle costs. The growing demand for more fuel-efficient and environmentally friendly vessels, coupled with advancements in composite manufacturing technologies, is driving the rapid adoption of composite materials in the construction of offshore supply vessels.

• Steel
• Aluminum
• Fiberglass
• Wood
• Composite Materials

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Sumedha Gosavi

Research Associate at Cognitive Market Research

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