| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 27.25 Billion |
| Market Size (2030) | USD 37.34 Billion |
| CAGR (2025 - 2030) | 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Middle East Offshore Support Vessels Market Analysis
The Middle East Offshore Support Vessels Market size is estimated at USD 27.25 billion in 2025, and is expected to reach USD 37.34 billion by 2030, at a CAGR of 6.5% during the forecast period (2025-2030).
- Over the medium term, factors such as increasing offshore exploration and production activities and development of offshore wind energy, are expected to be one of the most significant drivers for the Middle East offshore support vessels market during the forecast period.
- On the other hand, increasing demand for dynamic positioning (DP) drilling rigs. This poses a threat to the Middle East offshore support vessels market during the forecast period.
- Nevertheless, several support vessel manufacturers are focused on developing battery-hybrid offshore support vessels. This factor is expected to create several opportunities for the market in the future.
- Saudi Arabia is expected to witness significant growth during the forecast period. The region is witnessing increased offshore drilling activities and increasing offshore exploration.
Middle East Offshore Support Vessels Market Trends
Platform Supply Vessels (PSVs) are Likely to Dominate the Market
- Platform supply vessels (PSVs) are a type of offshore support vessel specifically designed to transport supplies, equipment, and personnel to and from offshore oil and gas platforms. They play a vital role in supporting offshore operations by ensuring a steady supply of essential goods and materials required for drilling, production, and maintenance activities.
- Expanding offshore operations and developing new fields in the Middle East are expected to drive the demand for platform supply vessels (PSVs) as they facilitate the delivery of materials and resources required for offshore production.
- According to the latest data available as of May 2023, the Middle East witnessed a rise in the total number of offshore rigs, reaching 236 compared to 193 in May 2022. The recent report published by Baker Hughes suggests that this increase in rig count will positively impact the platform supply vessel market in the region throughout the projected period.
- In recent years, the Middle East's offshore oil and gas industry has experienced substantial investment as major oil companies have directed their attention toward exploration and production activities. This heightened investment is a response to the growing global demand for oil and gas and the necessity for advanced technologies capable of accessing deeper offshore reserves.
- In June 2022, ADNOC Drilling secured two contracts valued at USD 2 billion for integrated drilling services at the Hail and Ghasha Gas Development Project. This project, recognized as the world's largest offshore sour gas project, involved the extraction of gas reserves. The awarded contracts comprised USD 1.3 billion for integrated drilling services and fluids, along with USD 711 million designated for the provision of four Island Drilling Units.
- Therefore, with the rising number of offshore exploration and production activities across the region, the demand for platform supply vessels is expected to witness significant growth over the forecast period.
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Saudi Arabia to Witness Significant Growth
- The demand for offshore support vessels (OSVs) in Saudi Arabia is experiencing significant growth driven by various factors related to the country's offshore oil and gas industry. Saudi Arabia is actively expanding its offshore operations to tap into new reserves and increase production capacity, leading to an increased need for OSVs to support the transportation of personnel, supplies, and equipment to offshore platforms.
- Saudi Arabia holds several notable positions with a significant presence in the global oil industry. As the second-largest producer of crude oil worldwide, it accounted for approximately 11% of global crude oil production in 2021. In addition to its production capacity, Saudi Arabia is the largest crude oil exporter globally. The country boasts the second-largest proven oil reserves globally as of 2021, trailing behind Venezuela.
- According to the Organization of the Petroleum Exporting Countries, Saudi Arabia had 267,192 million barrels of oil-proven reserves in 2022, an increase of 0.35% compared to 2017.
- Saudi Arabia is actively engaged in expanding its current oil and gas fields, with notable projects underway, such as the Berri field and the Marjan Oil field. The Berri field, situated along the east coast of Saudi Arabia and spanning both onshore and offshore areas, is undergoing expansion through the Berri Increment Program (BIP). This initiative aims to double the field's crude production capacity to reach 500,000 barrels per day (bpd) by 2023. With an estimated investment of USD 6 billion, the Berri Increment Program is scheduled for commissioning in 2023, bolstering the country's oil production capabilities.
- The diversification of offshore activities, such as venturing into offshore renewable energy projects like wind farms, further increases the demand for specialized OSVs for installation, maintenance, and logistical support.
- For instance, in December 2022, the Public Investment Fund (PIF) of Saudi Arabia acquired a 9.5% stake in Skyborn Renewables, a prominent player in the offshore wind sector. This investment is anticipated to enable PIF to actively participate in the global advancement of energy transition and clean energy. The Saudi government has expressed that this strategic investment will allow PIF to engage in the international-scale acceleration of energy transition and clean energy initiatives by investing in a geographically diverse offshore wind energy platform.
- Therefore, increasing offshore exploration and development activities and efforts to promote offshore wind capacity in the country are expected to increase the demand for offshore support vessels over the forecast period.
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Middle East Offshore Support Vessels Industry Overview
The Middle Eastern offshore support vessels market is semi fragmented. Some of the major players in the market (in no particular order) include Tidewater Inc., Bourbon Corporation SA, Offshore International (OFCO), Baltic Marine Services LLC, and Maersk AS.
Middle East Offshore Support Vessels Market Leaders
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Offshore International (OFCO).
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Maersk A/S
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Tidewater Inc.
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Baltic Marine Services LLC
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Bourbon Corporation SA
- *Disclaimer: Major Players sorted in no particular order
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Middle East Offshore Support Vessels Market News
- In May 2023, Saudi Aramco announced that by 2027, it plans to enhance the production capacity of the Middle East's oil fields from 12 million to 13 million barrels of oil per day (bopd). Notably, a significant portion of this increased production will come from offshore sources, including expanding fields like Marjan, Berri, and Safaniya. As a result, there will likely be considerable demand for offshore construction activities. Consequently, there may be a necessity to augment the fleet of various vessels, including jack-up barges, crew boats, platform supply boats, offshore subsea construction vessels (OSCVs), and offshore support vessels (OSVs). Thus, the fleet's expansion is underway to accommodate the anticipated requirements for offshore operations.
- In July 2022, ADNOC Logistics & Services, based in Abu Dhabi, successfully completed the acquisition of Zakher Marine International (ZMI), an offshore support vessel operator located in the same region. Notably, ZMI possesses the world's largest fleet of self-propelled jack-up barges. Pending regulatory approvals for the transaction, ADNOC L&S will integrate 24 jack-up barges and 38 offshore support vessels from ZMI into its existing fleet. This acquisition may result in ADNOC L&S expanding its fleet size to over 300 vessels.
- In March 2022, Shuaa Capital, an asset management and investment banking firm headquartered in Dubai, successfully acquired Allianz Marine and Logistics Services, an offshore support vessels (OSVs) provider based in Abu Dhabi. This transaction marks one of the significant mergers and acquisitions in the Middle East maritime offshore sector in recent years and holds prominence globally within the offshore sector.
Middle East Offshore Support Vessels Industry Segmentation
Offshore support vessels (OSVs) are specialized maritime vessels that provide various services and support to offshore oil and gas exploration and production activities. These vessels support offshore operations by providing logistical assistance, transportation, and accommodation for personnel working in offshore installations such as oil rigs, platforms, and floating production facilities.
The Middle Eastern offshore support vessels market is segmented by type and geography. By type, the market is segmented into anchor handling tug/anchor handling towing supply vessels (AHT/AHTS), platform supply vessels (PSV), and other types). The report also covers the market size and forecasts across major regions. For each segment, the market sizing and forecasts have been done based on revenue in USD.
| Type | Anchor Handling Tug/Anchor Handling Towing Supply Vessels (AHT/AHTS) |
| Platform Supply Vessels (PSV) | |
| Other Types | |
| Geography | Saudi Arabia |
| United Arab Emirates | |
| Qatar | |
| Iran | |
| Rest of Middle East |
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Middle East Offshore Support Vessels Market Research FAQs
How big is the Middle East Offshore Support Vessels Market?
The Middle East Offshore Support Vessels Market size is expected to reach USD 27.25 billion in 2025 and grow at a CAGR of 6.5% to reach USD 37.34 billion by 2030.
What is the current Middle East Offshore Support Vessels Market size?
In 2025, the Middle East Offshore Support Vessels Market size is expected to reach USD 27.25 billion.
Who are the key players in Middle East Offshore Support Vessels Market?
Offshore International (OFCO)., Maersk A/S, Tidewater Inc., Baltic Marine Services LLC and Bourbon Corporation SA are the major companies operating in the Middle East Offshore Support Vessels Market.
What years does this Middle East Offshore Support Vessels Market cover, and what was the market size in 2024?
In 2024, the Middle East Offshore Support Vessels Market size was estimated at USD 25.48 billion. The report covers the Middle East Offshore Support Vessels Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Middle East Offshore Support Vessels Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Middle East Offshore Support Vessel Industry Report
The report on the Middle East Offshore Support Vessels market provides a comprehensive market outlook, detailing the market size and market share across various segments, including Anchor Handling Tug/Anchor Handling Towing Supply Vessels (AHT/AHTS), Platform Supply Vessels (PSV), and other types. This market report offers an industry analysis that includes market growth and market trends, highlighting key market leaders and their influence on market dynamics. The market analysis covers regions such as Saudi Arabia, Iran, the United Arab Emirates, and the rest of the Middle East, providing a detailed market forecast and market segmentation.
Industry reports show that the market value in the Middle East Offshore Support Vessels sector is driven by several factors, including the increasing demand for offshore exploration and production activities. The market overview highlights the significant role of industry statistics in understanding market data and industry size. The report example and report pdf provide an in-depth industry outlook, with a focus on industry sales and industry trends.
Market predictions indicate a steady growth rate, supported by industry information and research companies that offer valuable industry research and insights. The market review emphasizes the importance of understanding market segmentation to identify opportunities for growth and development. The report also includes a detailed industry overview, showcasing the impact of market leaders on market growth.
Overall, the industry analysis and market forecast provide a clear picture of the future market trends and growth potential in the Middle East Offshore Support Vessels market. This comprehensive market research is essential for stakeholders looking to make informed decisions based on market data and industry statistics.
