PUBLISHER: The Business Research Company | PRODUCT CODE: 1730955
PUBLISHER: The Business Research Company | PRODUCT CODE: 1730955
A multipurpose support vessel (MPSV) is an offshore vessel designed to provide versatile support for a range of marine operations. These vessels are equipped with specialized equipment to facilitate transportation, logistics, maintenance, and offshore construction. MPSVs offer flexibility for various tasks, including rig support, diving support, and cable laying.
The primary types of multipurpose support vessels (MPSVs) include dynamic positioning vessels, non-dynamic positioning vessels, survey vessels, heavy lift vessels, and construction support vessels. Dynamic positioning vessels are equipped with automated systems that use thrusters and GPS to maintain their position and heading without the need for anchors. These vessels come in various sizes and capacities, including small vessels (up to 50 meters), medium vessels (51 to 100 meters), large vessels (over 100 meters), and heavy-capacity vessels. They are used for various operations, such as exploration and survey missions, construction and installation, maintenance and support, logistics and supply chain activities, and emergency response operations. MPSVs operate across different deployment environments, including offshore, nearshore, shallow water, and deep-sea operations. They serve multiple industries, such as oil and gas, renewable energy (wind, solar), marine research and survey, telecommunications, fisheries, and aquaculture.
The multipurpose support vessels market research report is one of a series of new reports from The Business Research Company that provides multipurpose support vessels market statistics, including the multipurpose support vessels industry global market size, regional shares, competitors with the multipurpose support vessels market share, detailed multipurpose support vessels market segments, market trends, and opportunities, and any further data you may need to thrive in the multipurpose support vessels industry. This multipurpose support vessels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The multipurpose support vessel (MPSV) market size has grown strongly in recent years. It will grow from $4.20 billion in 2024 to $4.51 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth during the historic period can be attributed to the increasing offshore oil and gas exploration, rising deepwater drilling activities, expanding subsea infrastructure development, the rise in offshore wind projects, and enhanced maritime security operations.
The multipurpose support vessel (MPSV) market size is expected to see strong growth in the next few years. It will grow to $5.90 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period will be driven by the rising demand for offshore energy, the expansion of offshore wind farms, increasing deep-sea mining activities, growing subsea cable installations, and government investments in maritime infrastructure. Key trends expected in this period include the adoption of hybrid propulsion systems, the integration of smart vessel technologies, advancements in vessel design, the development of autonomous vessel technology, and the use of AI for remote operations.
The growth of the offshore renewable energy sector is anticipated to drive the expansion of the multipurpose support vessel market. Offshore renewable energy involves generating power from renewable sources such as wind, solar, and tidal energy, typically in bodies of water such as seas or large lakes. This sector's growth is fueled by the increasing demand for sustainable energy solutions and the potential for offshore locations to produce significant amounts of power. Multipurpose support vessels play a vital role in offshore renewable energy production by aiding in the installation, maintenance, and transportation of equipment for wind, wave, and tidal energy projects, ensuring safe and efficient operations at sea. For example, in February 2023, the Oceantic Network, a U.S.-based non-profit, reported that the offshore wind market attracted $9.8 billion in new investments in 2022, more than three times the amount invested in 2021. This growth in the offshore renewable energy sector is driving the demand for multipurpose support vessels.
Key players in the multipurpose support vessel (MPSV) market are focusing on developing advanced products, such as multi-role naval vessels, to enhance efficiency in various maritime operations. A multi-role naval vessel is a versatile military or support ship designed to perform a wide range of functions based on specific operational requirements. In October 2024, the Indian Navy launched Samarthak, its first indigenous multi-purpose vessel (MPV). This vessel is built for diverse tasks such as towing ships, target recovery, operating unmanned vehicles, and testing indigenous weapons and sensors. The 106-meter-long vessel can reach speeds of up to 15 knots and was developed under India's "Aatmanirbhar Bharat" and "Make in India" initiatives.
In December 2024, Next Geosolutions, an Italy-based marine geosciences and offshore construction support services company, acquired a multi-purpose survey vessel from Beitveit Holding for $7.1 million. This acquisition aligns with Next Geosolutions' strategy for expansion, particularly in the offshore sector, to enhance its fleet and service offerings for renewable energy as well as oil and gas projects. Beitveit Holding, based in Norway, is a manufacturer of multi-purpose vessels.
Major players in the multipurpose support vessel (mpsv) market are Larsen & Toubro Limited, Damen Shipyards Group, Zamil Offshore, The CSL Group Inc., Seacor Marine, Sea1 Offshore Inc, Mazagon Dock Shipbuilders Limited, Fassmer GmbH & Co. KG, MMA Offshore Pty Ltd., Hornbeck Offshore Services Inc, Island Offshore, Greatship India Ltd., Nam Cheong Limited, Rohde Nielsen A/S, Olympic Subsea ASA, Damen Shipyards, Eidesvik Offshore ASA, Vard Group AS, Oceanteam ASA, DOF Subsea AS.
North America was the largest region in the multipurpose supply vessel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in multipurpose support vessels (MPSV) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the multipurpose support vessels (MPSV) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The multipurpose support vessels (MPSV) market consists of sales of hybrid-powered multipurpose support vessel, custom-built vessels, energy-efficient multipurpose support vessels, and deep-water capable vessels. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Multipurpose Support Vessel (MPSV) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multipurpose support vessel (mpsv) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multipurpose support vessel (mpsv) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The multipurpose support vessel (mpsv) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.