Multipurpose Support Vessel (MPSV) Market Report 2026

The multipurpose support vessel (mpsv) market size has grown strongly in recent years. It will grow from $4.48 billion in 2025 to $4.79 billion in 2026 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to increasing offshore oil and gas exploration and production activities, rising demand for versatile vessels capable of multiple marine operations, advancements in hybrid and energy-efficient propulsion systems, growing adoption of custom-built vessels for specialized offshore tasks, expansion of global shipping and offshore logistics requiring support vessels.

The multipurpose support vessel (mpsv) market size is expected to see strong growth in the next few years. It will grow to $6.26 billion in 2030 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to development of deep-water capable and next-generation multipurpose support vessels, rising adoption of eco-friendly and low-emission propulsion technologies, integration of advanced automation and remote operation systems, increasing demand for vessels supporting renewable energy projects such as offshore wind farms, growth in emerging offshore markets with expanding marine infrastructure. Major trends in the forecast period include growing demand for modular and rapidly deployable military base structures, increasing adoption of mobile medical and command units for expeditionary missions, rising use of deployable shelters for disaster relief and humanitarian operations, shift toward lightweight, durable, and climate-resilient infrastructure materials, growing need for scalable mission-specific deployable systems across different terrains.

The growing offshore renewable energy sector is expected to drive the expansion of the multipurpose support vessel market. Offshore renewable energy involves generating power from sources such as wind, solar, and tidal energy located in marine environments, including seas and large lakes. This sector is expanding due to rising demand for sustainable energy solutions and the strong power generation potential of offshore sites. Multipurpose support vessels are essential to these operations, enabling the installation, maintenance, and transport of equipment for offshore wind, wave, and tidal projects, thereby ensuring safe and efficient activities at sea. For example, in May 2024, the Global Wind Energy Council reported that 11 GW of offshore wind capacity was added to the grid in 2023, marking a 24% increase from the previous year. As a result, the growth of offshore renewable energy is fueling 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 companies operating 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 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multipurpose support vessel (mpsv) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are raising the cost of imported steel, propulsion units, navigation systems, and specialized offshore components used in MPSV construction, increasing production and procurement costs. Heavily equipped vessel categories such as heavy-lift and construction support vessels are most affected, particularly in Asia-Pacific, Europe, and the Middle East. Despite slowing some fleet investments, tariffs also stimulate domestic shipbuilding and encourage localized manufacturing, strengthening long-term supply chain resilience.

The multipurpose support vessels market research report is one of a series of new reports 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.

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 countries covered in the multipurpose support vessel (mpsv) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, 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 that 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.

This product will be delivered within 1-3 business days.