The global offshore support vessel market is projected to reach USD 31.4 billion by 2028 from an estimated USD 22.6 billion in 2023, at a CAGR of 6.7% during the forecast period. Factors such as the rising trend of investments in offshore wind and oil & gas projects are driving the growth of the offshore support vessels market.
The offshore support vessel market is served by many international players with global operational presence and local players with a strong domestic supply network. DOF ASA (Norway), Solstad Offshore ASA (Norway), Tidewater Inc. (US), A.P. Moller – Maersk (Denmark), Siem Offshore (Norway), BOURBON (France), and Vroon (Netherlands) are the market leaders in the global offshore support vessel market. These companies use strategies such as contracts, agreements, mergers, and acquisitions, to increase their market share.
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Tidewater Inc. is an offshore service vessel provider that supports offshore exploration and energy production activities worldwide. The company offers services for all phases of offshore oil and natural gas exploration activities, development and production of oil and natural gas plants, and establishment and maintenance of wind farms.
Tidewater Inc. offers different vessels, including PSVs, AHTS vessels, offshore tugs, FSVs, crew boats, and specialty vessels. Its vessels are used in shallow, intermediate, and deepwater offshore markets. The company also provides a range of other marine services, such as towing, salvage, and marine construction. Tidewater's global operations span all major offshore energy markets, including the Gulf of Mexico, the North Sea, West Africa, and Southeast Asia.
In 2021, Tidewater merged with GulfMark Offshore, another leading provider of offshore vessels and services, creating the world's largest fleet of offshore support vessels. The newly formed company has a presence in nearly every major offshore energy market and is well-positioned to meet the evolving needs of the offshore industry.
BOURBON is a prominent supplier of marine solutions to the oil & gas sector, presenting an extensive array of service offerings, such as offshore accommodation, logistics, vessel management, and maintenance services.
BOURBON offers offshore support vessels through two companies: Bourbon Marine & Logistics and Bourbon Subsea Services. The offshore support vessel fleet of the company comprises AHTS vessels, PSVs, SSVs, offshore terminal tugs, MPSVs, and ROVs. The company is keen on expanding its portfolio of renewable energy services and has developed innovative solutions for the offshore wind industry. For instance, BOURBON developed inspection, maintenance, and repair, i.e., IMR vessel, to provide services to offshore wind farms.
BOURBON has its services operational in 44 countries. The company offers local services through its affiliate companies—Naviera Bourbon Tamaulipas (Mexico), Bourbon Offshore DNT (Italy), Bourbon Offshore Norway (Norway), Bourbon Gulf (Qatar), Bourbon Offshore Greenmar (Mauritius), and Bourbon Marine Services Greenmar (Mauritius).
Vroon is a shipping company offering seagoing transportation, engineering, and support services. It has a diverse set of deepsea and offshore vessels. The company functions through eight reportable business segments: Livestock Carriers, Offshore-support Vessels and Services, Dry Cargo Vessels, Container Vessels, Product Tankers, High-heat Tankers, Car Carriers, and Management Services and Solutions.
Vroon Group has an operational presence in various countries. It operates locally through its subsidiaries, including Vroon B.V. (Netherlands), Vroon Offshore Services (UK), Vroon Offshore Services B.V. (Netherlands), Vroon Offshore Services Ltd. (UK), Deeside Crewing Services Ltd. (UK), Vroon Offshore Services Srl (Italy), Vroon Offshore Services Pte Ltd. (Singapore), Iver Ships B.V. (Netherlands), Vroon-Fil Ship Management (VFSM) (Philippines), Livestock Express (Netherlands), Livestock Express B.V. (Netherlands), and Livestock Express Pte Ltd. (Singapore).
Offshore Support Vessel Market by Technology (AHTS, PSV, MPSV, Standby & Rescue Vessels, Crew Vessels, Chase Vessels, Seismic Vessels), Application (Shallow water, Deepwater), End-user Industry, Material, Fuel Type and Region - Global Forecast to 2028
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