Latest News- Offshore Supply Vessel Market: AHTS is expected to lead the Type segment during 2025-2029

The Offshore Supply Vessel Market is being driven by Rise in global demand for oil and natural gas

The Offshore Supply Vessel Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6.62 billion. The Offshore Supply Vessel (OSV) market is experiencing a notable trend towards the demand for high-capacity vessels. Characterized by high engine capacity, efficient propellers, substantial bollard pull, expansive decks, ample below-deck space, and helipad facilities, these vessels offer increased cargo load capacity and the ability to transport large quantities of goods. With the anticipated rise in deepwater activities worldwide due to oil price recovery, the need for such high-capacity OSVs is projected to surge. Additionally, there is a prevailing trend towards the utilization of Liquefied Natural Gas (LNG)-fueled OSVs, which are more cost-effective and eco-friendly compared to diesel-fueled alternatives. 

Get more information on Offshore Supply Vessel Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • AHTS
  • PSV
  • FSIV
  • MPSV
  • Others
• End-user
  • Offshore oil and gas
  • Offshore wind
• Propulsion
  • Conventional diesel-powered
  • LNG-powered
  • Hybrid/electric propulsion
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Norway
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in global demand for oil and natural gas
• Rising demand for offshore supply vessels in E and P and well development
• Technical developments in OSVs

However, the market also witnesses some limitations, which are as follows:

• Rise in operational costs of OSVs
• Space constraints and legal inconsistencies in OSVs
• Issues in propulsion systems and main engines of OSVs

Benefits of Buying Global Offshore Supply Vessel Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Offshore Supply Vessel Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Offshore Supply Vessel (OSV) market is significantly influenced by crude prices and petroleum resource development, with production enhancement in ultra-deepwater regions and undiscovered oil and gas resources driving demand for offshore drilling services. Contract delays due to cabotage laws and government regulations add to the challenges, while capital investment and day rates are influenced by oil prices. Uncharted territories in maritime boundaries hold undiscovered oil, gas, shale, and even offshore wind resources. Installation costs and offshore activities in high seas require advanced construction units, remotely operated vehicles, and dynamic positioning systems. Offshore oil production, energy demand, towage services for heavy goods, and offshore renewable energy projects further expand the market scope. Offshore drilling, construction work, and offshore wind turbine installation are key areas of focus, with computer algorithms optimizing operations in the face of downward trends and offshore activities in oceanic areas.

Market Research Overview

The offshore supply vessel (OSV) market is a significant segment of the global oil and gas storage and transportation industry, serving the crucial function of transporting equipment, personnel, and supplies to offshore drilling platforms. According to Technavio, market growth will be driven by several factors, including the energy transition and investment in renewable energy, advancements in offshore technology, and the continued demand for petroleum engineering solutions. The energy sector's shift towards renewable sources and the subsequent reduction in offshore drilling activities may create a supply surplus in the OSV market. However, advancements in offshore drilling technology and the increasing demand for renewable energy infrastructure installations are expected to provide new opportunities for OSV providers. The global oil and gas storage and transportation market, which encompasses companies involved in the transportation and storage of gas, oil, and refined products, is experiencing growth due to rising energy demand, dwindling fossil fuel reserves, volatile fuel prices, and environmental concerns. Technavio calculates the market size based on the combined revenues of equipment, supply, and service providers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/