Europe Offshore Support Vessels Market Report and Forecast 2024-2032

Europe Offshore Support Vessels Market Outlook

The Europe offshore support vessels market size is projected to grow at a CAGR of 5.1% between 2024 and 2032. The market is being fuelled by the growing demand for oil and gas in the region.

Key Takeaways:

• Offshore oil and gas projects are expected to become an important driver of market growth.

• Deep water is expected to constitute a major portion of the Europe offshore support vessels market share.

• The United Kingdom is expected to dominate the market over the forecast period.

As the UK government is expected to boost its reliance on the North Sea for extracting oil and natural gas, the Europe offshore support vessels market growth is expected to receive a positive impact. The diversification of the UK’s energy mix is expected to lead to a higher demand for oil anchor handling tug vessels, multipurpose support vessels, and platform supply vessels which can assist the oil extraction and distribution processes.

The rising demand for essential minerals such as zinc, cobalt, and copper is expected to drive major European companies towards exploring deep sea beds in the Arctic Ocean for mineral extraction. This is expected to drive the Europe offshore support vessels market expansion over the forecast period. For instance, countries such as Norway are implementing strategies for clean energy transition by deliberating deep sea mining of essential minerals, which can be utilised in improving electric vehicle batteries and other technologies.

Given the increasing demand for energy across the region, oil and gas are still expected to remain a major source of fulfilling the energy requirements, thereby influencing the Europe offshore support vessels market expansion favourably.

Market Segmentation

Europe Offshore Support Vessels Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Anchor Handling Tug Vessel (AHTV)

• Platform Supply Vessel

• Multipurpose Support Vessel

• Crew Vessel

• Standby and Rescue Vessel

• Others

Market Breakup by Application

• Shallow Water

• Deep Water 

Market Breakup by End Use

• Offshore Oil and Gas

• Offshore Wind

Market Breakup by Country

• Germany

• United Kingdom

• France

• Italy

• Others

The key Europe offshore support vessels market players are Tidewater Inc., AP Moeller - Maersk A/S, SEACOR Marine Holdings Inc., Solstad Offshore ASA, Damen Shipyards Group, Royal IHC, DOF Group ASA, Horizon Maritime Services Ltd., Havila Shipping ASA, and Vroon B.V., among others.

Key Highlights of the Report