Offshore Support Vessel Market Trends

Growth Drivers

• Expansion in offshore wind: This is considered the single-most potent driver for the market. In this regard, ambitious governments have targeted global offshore wind capacity installation, which has created a long-lasting and non-cyclical, pipeline need for specialized crew transfer, maintenance, and installation. According to the 2025 IEA Organization data report, 1,015 GW of wind capacity has been successfully installed in 2023, of which 93% was located across onshore systems, and the remaining 7% in offshore wind farms. Besides, offshore reach is anticipated to increase in the upcoming years since different nations are planning or developing their first-ever offshore wind farms. Moreover, 9% of the overall wind capacity growth of 116 GW has been delivered by offshore technology, thus suitable for uplifting the market internationally.
• Exploration of deep-water and ultra-deep-water: This particular exploration type is moving into challenging and in-depth frontiers since shallow-water reserves are maturing. These complicated projects need innovative and high-horsepower vessels with sophisticated dynamic positioning capabilities, which is driving the offshore supply vessel (OSV) market’s demand. Besides, as per an article published by the U.S. Department of Energy in 2025, the Ultra-Deepwater and Unconventional Natural Gas and Other Petroleum Resources Research Program, which has been unveiled by the Energy Policy Act of 2005 (EPAct), caters to a USD 400 million partnership for more than 8 years. Additionally, notable aspects of the program include using a non-profit consortium to significantly manage the research by establishing federal advisory committees and funding USD 50 million every year, thus positively impacting the overall market.
• Investment for resurgent oil and gas: The aspect of international transition and increased focus on energy security has resulted in a rebound, especially in final investment decisions for hydrocarbon projects in the offshore support vessel (OSV) market. This is suitable for regions such as West Africa, Guyana and Brazil from South America, and the Middle East. This has sustained the core demand for MPSVs, AHTS, and PSVs, suitable for field logistics and development. As per an article published by the IEF Organization in June 2024, the yearly gas and oil capital spending is projected to rise by 22% by the end of 2030 to ensure increasing supplies, owing to cost inflation and growing demand. In addition, a generous USD 4.3 trillion in new investments is required between 2025 and 2030. Furthermore, the continuously growing expenditure demands are effectively based on the outlook that witnesses the need for oil rising from 103 million barrels every day as of 2023 to an expected 110 million bpd by the end of 2030.

Challenges

• Workforce transition and skilled crew shortage: The offshore maritime sector is grappling with a critical and growing human capital crisis, which is negatively impacting the offshore support vessel (OSV) market globally. Previously, the market downturn drove experienced engineers, officers, and seafarers to stabilize maritime and shoreside industries. Therefore, recapturing this is a challenge, and significantly attracting a new generation is risky, owing to the sector’s historical cyclicality, as well as the perception of demanding work schedules. Besides, the adoption of the newest vessel technologies, such as complicated hybrid propulsion systems, innovative dynamic positioning, and wind farm-based equipment, demands a more technical and diverse skillset, thus creating a gap in the market’s development.
• Geopolitical risk and regulatory uncertainty: The offshore support vessel (OSV) market readily operates at the intersection of complicated and at times conflicting regulatory frameworks, along with geopolitical tensions. Besides, on the environmental front, the specific pathway remains uncertain since the direction towards decarbonization is clear. Moreover, regulations on acceptable future fuels, emissions control areas, and carbon pricing are continuing to evolve, thus making long-lasting vessel design and investment decisions extremely speculative. Key growth regions are considered frequent hotspots of geopolitical instability, while territorial disputes in areas such as the South China Sea, including regional conflicts and sanction regimes, can immediately invalidate contract terms, alter trade routes, and disrupt operations.