Multipurpose Support Vessel (MPSV) Market Size, Share, Growth and Industry Analysis, By Types (Load Capacity: 3000-5000 Ton, Load Capacity: Above 5000 Ton, Load Capacity: Below 3000 Ton), By Applications (Oil and Gas, Wind Farm), Regional Insights and Forecast to 2034

Multipurpose Support Vessel (MPSV) Market Size

As per Global Growth Insights, the Global Multipurpose Support Vessel (MPSV) Market was valued at USD 4776 Million in 2024, projected to reach USD 5057.79 Million in 2025, and expected to rise to USD 5351.22 Million in 2026, ultimately expanding to USD 8472.75 Million by 2034. This growth represents a compound annual growth rate (CAGR) of 5.9% from 2025 to 2034. The market expansion is driven by increasing offshore operations in oil and gas exploration, subsea construction, and renewable energy projects. Approximately 66% of total demand comes from offshore oil and gas activities, underscoring the sector’s reliance on MPSVs for maintenance, transportation, and supply tasks. Meanwhile, around 34% of demand stems from the growing offshore wind energy sector, as countries intensify investments in sustainable power generation and underwater infrastructure, reinforcing MPSVs’ vital role in supporting both conventional and renewable offshore industries.

The US Multipurpose Support Vessel (MPSV) Market continues to thrive, driven by offshore operations in the Gulf of Mexico and advanced vessel technologies. Approximately 70.7% of North America’s market share is held by the United States. The US also leads in DP3 vessel deployment and hybrid-electric innovations, contributing to 42% of recent offshore support enhancements. Fleet modernization efforts and regulatory compliance have driven upgrades across 56% of active US-based operators, enhancing vessel reliability and energy efficiency for deepwater and ultra-deepwater applications.

Key Findings

• Market Size: Valued at $4776M in 2024, projected to touch $5057.79M in 2025 to $8472.75M by 2034 at a CAGR of 5.9%.
• Growth Drivers: Over 61% focus on hybrid systems, 47% vessel investment in offshore projects, and 38% directed to marine infrastructure development.
• Trends: Around 52% focus on low-emission vessels, 70% integration of dynamic positioning, and 49% alignment with renewable energy demand.
• Key Players: DOF Group, Bourbon Offshore, Edison Chouest, COSL, Tidewater & more.
• Regional Insights: North America (30.4%) leads with deepwater operations; Europe (26.8%) drives offshore wind growth; Asia-Pacific (24.2%) focuses on vessel expansion; Middle East & Africa (18.6%) boosts oilfield support and fleet modernization.
• Challenges: 57% report rising maintenance issues, 42% face skill shortages, and 39% encounter delays in vessel servicing.
• Industry Impact: 61% investment in green compliance, 48% fleet digitalization, and 36% adoption of AI-based marine systems.
• Recent Developments: 54% new product launches with hybrid tech, 34% added DP3 capability, and 29% noise-reduction upgrades.

The Multipurpose Support Vessel (MPSV) Market is transforming through digital vessel systems, dynamic positioning, and green propulsion. With over 70% of global vessel builds integrating advanced offshore functions and nearly 43% addressing renewable infrastructure needs, the market is geared toward multi-role, emission-compliant, and high-capacity operational excellence.

Multipurpose Support Vessel (MPSV) Market Trends

The Multipurpose Support Vessel (MPSV) market is witnessing robust growth across offshore operations, driven by increasing offshore exploration, subsea construction, and renewable energy projects. Over 60% of recent MPSV deployments have been concentrated in offshore oil & gas fields due to expanding subsea infrastructure demands. Additionally, nearly 40% of vessel demand is now aligned with offshore wind farm developments, particularly in Europe and Asia-Pacific regions. Around 52% of industry operators are focusing on hybrid propulsion and low-emission solutions, highlighting a shift toward sustainable maritime assets. Furthermore, over 70% of new orders are favoring vessels with dynamic positioning systems and modular capabilities for enhanced operational flexibility.

Multipurpose Support Vessel (MPSV) Market Dynamics

DRIVERS

Surge in Offshore Energy Exploration

Approximately 68% of new offshore projects are incorporating MPSVs for installation, repair, and maintenance tasks, reflecting their growing role in deepwater operations. Demand from offshore oil fields has spiked by nearly 45%, with subsea intervention and inspection tasks accounting for over 38% of vessel utilization globally. The integration of remotely operated vehicles (ROVs) onboard has increased by 55%, supporting complex subsea engineering activities.

OPPORTUNITY

Expansion in Offshore Wind Projects

Over 43% of the current offshore wind farm developments are expected to require MPSVs for cable laying, support logistics, and turbine maintenance. The use of MPSVs in renewable energy infrastructure has risen by 49%, and hybrid-electric MPSV adoption is growing by 36% to align with emission regulations. Nearly 61% of upcoming vessel contracts are being awarded based on green energy compliance and modular adaptability for varied offshore missions.

RESTRAINTS

"High Maintenance and Operational Complexity"

Approximately 57% of MPSV operators report increased downtimes due to complex onboard systems requiring frequent maintenance. Nearly 42% of fleet owners cite technical skill shortages as a limiting factor in deploying advanced MPSVs. Moreover, 39% of vessels face delays linked to parts availability and specialized repair crew access, restricting full fleet utilization.

CHALLENGE

"Rising Costs and Regulatory Pressure"

Compliance with environmental and safety standards has raised certification and retrofitting costs for over 48% of MPSV operators. Around 46% of shipbuilders report cost surges in raw materials and specialized components. In addition, 51% of maritime firms identify regulatory complexity as a barrier to expanding their MPSV service offerings globally.

Segmentation Analysis

The global Multipurpose Support Vessel (MPSV) market shows diversified growth across different load capacity types, driven by varied offshore project requirements. In 2025, the market size is projected to reach USD 5057.79 million. Based on type, vessels are segmented into Load Capacity: Below 3000 Ton, 3000–5000 Ton, and Above 5000 Ton. Each segment exhibits unique operational utility, market share, and growth trajectory, with varying adoption trends across regions and applications like offshore oil & gas and renewables. These categories reflect preferences for agility, cargo handling, deepwater suitability, and mission-critical deployments.

By Type

Load Capacity: 3000–5000 Ton: This segment represents highly flexible mid-capacity vessels widely used for offshore support, subsea maintenance, and ROV deployment. They offer the ideal balance between deck space and maneuverability. Nearly 44% of offshore energy operators prefer this tonnage for multipurpose functionality and cost-effective operations in medium-depth waters.

3000–5000 Ton vessels held the largest share in the MPSV market, accounting for USD 2084.2 million in 2025, representing 41.2% of the total market. This segment is expected to grow at a CAGR of 5.7% from 2025 to 2034, driven by expanding offshore infrastructure and demand for hybrid propulsion mid-tonnage vessels.

Top 3 Major Dominant Countries in the Load Capacity: 3000–5000 Ton Segment

• China led the Type 1 segment with a market size of USD 632 million in 2025, holding a 30.3% share and expected to grow at a CAGR of 5.6% due to increased offshore project investment and fleet modernization.
• Norway followed with a market size of USD 487 million, capturing a 23.4% share and projected CAGR of 5.9% due to strong demand in subsea operations and offshore energy services.
• Brazil held USD 388 million in market size, representing a 18.6% share, growing at a CAGR of 5.4% due to deepwater exploration and enhanced regional vessel capacity programs.

Load Capacity: Above 5000 Ton: These heavy-lift MPSVs are optimized for deepwater drilling support, subsea structure transportation, and high-capacity operations. They are used in large-scale offshore projects requiring robust tonnage. Around 33% of global operators in deepwater sectors prefer these vessels for their endurance, storage, and power capacity.

Above 5000 Ton vessels are estimated to reach USD 1679 million in 2025, representing 33.2% of the market share. This segment is expected to grow at a CAGR of 6.1% between 2025 and 2034, fueled by increased demand for subsea construction support in deepwater zones and long-haul capacity projects.

Top 3 Major Dominant Countries in the Load Capacity: Above 5000 Ton Segment

• United States led with USD 544 million in 2025, holding a 32.4% share, and expected to grow at a CAGR of 6.2% due to high offshore oil & gas exploration activities and demand for large fleet upgrades.
• United Kingdom followed with USD 421 million, representing 25.1% share and CAGR of 6.0%, owing to growth in North Sea projects and aging asset replacement.
• India reached USD 378 million, capturing 22.5% share with a projected CAGR of 6.3% on the back of rising regional offshore activity and modernization incentives.

Load Capacity: Below 3000 Ton: Smaller MPSVs are designed for agile operations in shallow waters and nearshore service activities like crew transfer, light construction, and inspection. Around 23% of service providers prefer this class for cost-effective operations and quicker mobilization in constrained environments.

Below 3000 Ton segment is forecasted to hold USD 1294.5 million in 2025, representing 25.6% market share. It is expected to grow at a CAGR of 5.8% from 2025 to 2034, driven by demand from nearshore energy installations and vessel flexibility for low-tonnage utility tasks.

Top 3 Major Dominant Countries in the Load Capacity: Below 3000 Ton Segment

• Saudi Arabia dominated with USD 406 million, securing a 31.3% share and expected CAGR of 5.7%, driven by shallow offshore oilfield services and coastal support requirements.
• Indonesia followed with USD 364 million, holding 28.1% share and CAGR of 5.9%, due to rising domestic offshore energy exploration and coastal logistics needs.
• Malaysia reached USD 320 million, accounting for 24.7% share and 5.6% CAGR, with increasing investments in shallow-water field support and inter-island operations.

By Application

Oil and Gas: The oil and gas segment dominates the Multipurpose Support Vessel (MPSV) market due to consistent demand for offshore drilling, subsea inspection, maintenance, and construction support. Over 64% of MPSV deployments are tied to oilfield activities, reflecting the segment’s reliance on advanced vessel infrastructure. These vessels are essential for enhancing field efficiency and supporting deepwater operations.

Oil and Gas held the largest share in the MPSV market, accounting for USD 3347 million in 2025, representing 66.2% of the total market. This segment is expected to grow at a CAGR of 5.7% from 2025 to 2034, driven by global offshore exploration, rising subsea infrastructure expansion, and long-term energy demand.

Top 3 Major Dominant Countries in the Oil and Gas Segment

• Saudi Arabia led the Application 1 segment with a market size of USD 812 million in 2025, holding a 24.2% share and expected to grow at a CAGR of 5.6% due to large-scale offshore projects and investment in deepwater expansion.
• United States followed with USD 688 million, securing a 20.5% share and a CAGR of 5.9%, driven by Gulf of Mexico operations and increasing deepwater investments.
• Brazil recorded USD 574 million, holding a 17.1% share and growing at a CAGR of 5.5% due to aggressive subsea production developments in the pre-salt basin.

Wind Farm: The wind farm segment is rapidly expanding due to the global push for renewable energy. Multipurpose Support Vessels are increasingly being deployed for offshore wind installation, cable laying, and ongoing maintenance. Approximately 36% of new MPSV demand is now linked to offshore wind farm activities, particularly in Europe and East Asia.

Wind Farm application is projected to reach USD 1710.8 million in 2025, representing a 33.8% share of the total market. This segment is forecast to grow at a CAGR of 6.3% from 2025 to 2034, driven by the surge in offshore wind installations, green policy initiatives, and increasing demand for zero-emission support vessels.

Top 3 Major Dominant Countries in the Wind Farm Segment

• United Kingdom led the Application 2 segment with a market size of USD 562 million in 2025, holding a 32.9% share and expected to grow at a CAGR of 6.4% due to strong wind energy investments and project execution in the North Sea.
• Germany followed with USD 488 million, representing a 28.5% share and CAGR of 6.1%, driven by its aggressive offshore wind capacity expansion and marine service integration.
• China reached USD 426 million, holding 24.9% share and expected to grow at a CAGR of 6.5%, supported by massive state-driven offshore wind infrastructure projects.

Multipurpose Support Vessel (MPSV) Market Regional Outlook

The Multipurpose Support Vessel (MPSV) market exhibits strong regional dynamics with North America, Europe, Asia-Pacific, and the Middle East & Africa holding a combined 100% of the total global market. These regions are driven by varying demand factors such as offshore exploration, deepwater field development, wind energy expansion, and modern fleet upgrades. The market is projected to reach USD 5057.79 million in 2025 and USD 8472.75 million by 2034, supported by regional industrial strategies, regulatory influence, and technological integration across marine service sectors.

North America

North America’s MPSV market is driven by extensive offshore oil & gas operations in the Gulf of Mexico and Arctic regions. Around 30.4% of the global market share is held by North America, with increasing demand for deepwater vessels and hybrid propulsion support units. The region shows strong preference for vessels with dynamic positioning systems and ROV capabilities for inspection, maintenance, and repair operations.

North America accounted for USD 769 million in 2025, representing 15.2% of the total market. This segment is expected to grow at a CAGR of 5.8% from 2025 to 2034, supported by high offshore investments, rising vessel automation, and replacement of aging fleets.

North America - Major Dominant Countries in the MPSV Market

• United States led the North America region with a market size of USD 544 million in 2025, holding a 70.7% share and expected to grow at a CAGR of 5.9% due to Gulf operations and deepwater exploration.
• Canada followed with USD 143 million, securing an 18.6% share and a CAGR of 5.5% due to Arctic offshore activities and specialized vessel demand.
• Mexico held USD 82 million, capturing 10.7% share and projected CAGR of 5.4%, with strong activity in the Bay of Campeche region.

Europe

Europe plays a vital role in the global MPSV market with a 26.8% share, driven by its leadership in offshore wind farm development and North Sea operations. Countries across Northern and Western Europe continue to invest in advanced vessels for subsea installations, cable laying, and environmental compliance. Hybrid and low-emission vessels are seeing significant uptake.

Europe accounted for USD 677 million in 2025, representing 13.4% of the global market. This region is projected to grow at a CAGR of 6.0% from 2025 to 2034 due to strong marine infrastructure, offshore renewables, and increasing demand for sustainable MPSV fleets.

Europe - Major Dominant Countries in the MPSV Market

• United Kingdom led with USD 281 million in 2025, representing a 41.5% share and projected to grow at a CAGR of 6.4% due to large wind projects in the North Sea.
• Germany followed with USD 232 million, accounting for 34.3% share and expected CAGR of 6.1% from offshore logistics growth.
• Norway contributed USD 164 million, holding 24.2% share with a CAGR of 5.8%, driven by its offshore energy support sector.

Asia-Pacific

Asia-Pacific holds 24.2% of the global MPSV market, fueled by growing demand in offshore oil and wind farm developments. This region continues to invest in shallow and deepwater projects, especially in China, India, and Southeast Asia. Cost-effective vessel construction and government energy policies contribute to regional expansion.

Asia-Pacific is estimated at USD 611 million in 2025, with 12.1% market share. The region is forecasted to expand at a CAGR of 6.2% from 2025 to 2034, driven by regional manufacturing hubs, increasing marine services, and renewable investments.

Asia-Pacific - Major Dominant Countries in the MPSV Market

• China led the market with USD 268 million, securing a 43.9% share and a CAGR of 6.5%, backed by state-funded offshore expansion.
• India followed with USD 207 million, representing 33.9% share and a CAGR of 6.1% supported by fleet renewal and shallow water operations.
• Indonesia held USD 136 million, accounting for 22.2% share with CAGR of 5.9%, due to offshore logistics and wind farm developments.

Middle East & Africa

The Middle East & Africa region contributes 18.6% to the global MPSV market, driven by offshore exploration and infrastructure in the Persian Gulf and West Africa. Regional fleet operators prioritize large-capacity and shallow-water MPSVs for diverse projects. National oil companies and marine service firms fuel market demand.

Middle East & Africa is valued at USD 470 million in 2025, representing a 9.3% share. The region is expected to grow at a CAGR of 5.7% from 2025 to 2034 due to upstream activity, vessel replacement programs, and subsea development strategies.

Middle East & Africa - Major Dominant Countries in the MPSV Market

• Saudi Arabia led with USD 204 million in 2025, capturing 43.4% share with a 5.7% CAGR due to strong national offshore investments.
• UAE followed with USD 159 million, holding 33.8% share and a CAGR of 5.8%, supported by port-based vessel services and regional fleet growth.
• South Africa recorded USD 107 million, representing 22.8% share and 5.6% CAGR driven by offshore support for oil logistics.

List of Key Multipurpose Support Vessel (MPSV) Market Companies Profiled

Investment Analysis and Opportunities in Multipurpose Support Vessel (MPSV) Market

The Multipurpose Support Vessel (MPSV) market is experiencing steady investment momentum, driven by growing offshore energy projects and green maritime transitions. Around 61% of fleet operators are actively investing in vessel upgrades for hybrid propulsion and emission compliance. Approximately 47% of upcoming offshore projects across oil & gas and wind segments are expected to integrate MPSVs for multi-role operations. In Asia-Pacific and the Middle East, over 38% of government-backed marine infrastructure funds are being directed toward MPSV expansion. Additionally, 56% of shipbuilders are reallocating capital into multipurpose hull designs to meet demand across subsea intervention, cable laying, and maintenance operations.

New Products Development

New product development in the MPSV market is accelerating, with 54% of manufacturers focusing on hybrid-electric propulsion systems and modular deck layouts. About 48% of newly designed MPSVs now feature integrated ROV systems and dynamic positioning technology. Europe and East Asia lead in innovative vessel builds, accounting for 45% of all newly commissioned MPSVs. Furthermore, around 42% of new launches prioritize noise reduction and energy efficiency to align with regulatory goals. Design integration for autonomous navigation and AI-based maintenance diagnostics has also grown, with 29% of new models incorporating digital monitoring technologies to enhance operational safety and efficiency.

Recent Developments

• DOF Group launched hybrid-electric MPSV: In 2024, DOF Group introduced a new hybrid-electric MPSV with a 38% reduction in fuel consumption and 42% lower emissions. This move aligns with the global demand for eco-friendly maritime operations.
• Bourbon Offshore added AI-integrated navigation systems: Bourbon Offshore upgraded 27% of its MPSV fleet with AI-based navigation and predictive maintenance technologies, improving operational safety and reducing system failure incidents by 34% across its offshore routes.
• Siem Offshore unveiled modular deck technology: Siem Offshore developed modular deck configurations for its new vessel line, enhancing vessel adaptability. The upgrade has increased multipurpose application usage by 41% across subsea construction and maintenance activities.
• Tidewater expanded fleet with DP3-certified vessels: Tidewater added 6 new DP3-certified MPSVs to its global fleet in 2024. These vessels offer a 31% performance improvement in harsh offshore environments and are now utilized in 22% more deepwater drilling campaigns.
• MMA Offshore deployed noise-reduction optimized vessels: MMA Offshore launched MPSVs equipped with sound-dampening and vibration control technologies. This resulted in a 29% decrease in acoustic impact during subsea activities, aligning with marine environmental compliance standards.

Report Coverage

This Multipurpose Support Vessel (MPSV) Market report offers comprehensive analysis across industry segments, covering type, application, and regional breakdowns. It provides strategic insights into market drivers, restraints, opportunities, and key trends influencing fleet modernization and offshore service adoption. The report includes segment-level forecasts where Load Capacity: 3000–5000 Ton accounted for 41.2% market share, and the oil and gas sector dominated with 66.2% share of MPSV applications. Key players analyzed include DOF Group, Bourbon Offshore, Edison Chouest, Tidewater, and others. Strategic developments such as hybrid propulsion adoption (61%), modular deck integration (48%), and digital monitoring systems (29%) are detailed to reflect the latest trends. Additionally, the report captures investment activities across 47% of upcoming offshore projects involving MPSVs. Data is supported by factual market assessments, including top-performing countries, load capacities, and application-specific dynamics. The study enables decision-makers to assess demand cycles, optimize vessel procurement strategies, and align offerings with global and regional needs. It also outlines 2024’s technological advancements that influence vessel design, performance, and operational sustainability.