Saudi Arabia Offshore Support Vessels Market

Saudi Arabia Offshore Support Vessels Market Overview:

The Saudi Arabia offshore support vessels market size reached USD 428.78 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 571.80 Million by 2033, exhibiting a growth rate (CAGR) of 3.25% during 2025-2033. The increasing offshore oil and gas exploration activities, expansion of maritime infrastructure under Vision 2030, rising demand for subsea services, government investments in offshore energy projects, and the modernization of existing fleets are among the key factors driving the market growth.

Saudi Arabia Offshore Support Vessels Market Trends:

Expansion of Offshore Oil and Gas Projects under Vision 2030

Saudi Arabia’s Vision 2030 focuses on diversifying the economy while strengthening its upstream energy sector to ensure long-term energy security and national income. In line with this initiative, the country has significantly increased investments in offshore oil and gas exploration and production (E&P), leading to a notable rise in the need for offshore support vessels (OSVs) to support drilling, logistics, and maintenance activities. Key projects such as the expansion of the Zuluf and Marjan offshore fields are central to this expansion. To support this growth, Saudi Arabia is prioritizing the deployment of a modern and efficient OSV fleet capable of executing tasks such as subsea surveys, well stimulation, rig relocation, and supply transport. The rising shift toward deepwater operations further fuels demand for technologically advanced vessels like anchor handling tug supply (AHTS) and platform supply vessels (PSVs).

Growing Localization and Shipbuilding Capabilities

A transformative trend shaping the Saudi OSV market is the Kingdom’s strategic push to build domestic marine industrial capacity. In line with Vision 2030’s localization goals, Saudi Arabia is accelerating efforts to expand its shipbuilding and marine engineering sectors, aiming to reduce dependency on foreign-built vessels. Central to this initiative is the King Salman International Complex for Maritime Industries and Services in Ras Al-Khair, which is quickly emerging as a key regional center for building, repairing, and maintaining offshore vessels. In 2024, International Maritime Industries (IMI) secured contracts to build advanced OSVs equipped with cutting-edge navigation systems, fuel-efficient technologies, and DP2 dynamic positioning capabilities. The government is also targeting localization of offshore vessel procurement and operations. This initiative not only enhances fleet availability but also stimulates job creation, fosters technology transfer, and strengthens Saudi Arabia’s maritime self-sufficiency. Collaborations with global shipbuilding leaders such as Hyundai Heavy Industries and Bahri further support the integration of advanced technologies tailored to the demanding conditions of the Arabian Gulf and Red Sea, firmly positioning the Kingdom as a regional offshore services powerhouse.

Saudi Arabia Offshore Support Vessels Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on type, water depth, fuel, service type, and application.

Type Insights:

• Anchor Handling Towing Supply Vessel
• Platform Supply Vessel
• Fast Supply Intervention Vessel
• Multi-Purpose Service Vessel
• Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes anchor handling towing supply vessel, platform supply vessel, fast supply intervention vessel, multi-purpose service vessel, and others.

Water Depth Insights:

• Shallow Water
• Deepwater

A detailed breakup and analysis of the market based on the water depth have also been provided in the report. This includes shallow water and deepwater.

Fuel Insights:

• Fuel Oil
• LNG

The report has provided a detailed breakup and analysis of the market based on the fuel. This includes fuel oil and LNG.

Service Type Insights:

• Technical Services
• Inspection and Survey
• Crew Management
• Logistics and Cargo Management
• Anchor Handling and Seismic Support
• Others

A detailed breakup and analysis of the market based on the service type have also been provided in the report. This includes technical services, inspection and survey, crew management, logistics and cargo management, anchor handling and seismic support, and others.

Application Insights:

• Oil and Gas Applications
• Offshore Applications

The report has provided a detailed breakup and analysis of the market based on the application. This includes oil and gas applications and offshore applications.

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Saudi Arabia Offshore Support Vessels Market News:

• January 2025: Zamil Offshore launched its first Fast Supply Intervention Vessel (FSIV), the Zamil 80, at Lita Ocean Shipyard. This 60-meter monohull vessel is designed to transport cargo, personnel, and heavy maintenance equipment for Saudi Aramco's operations.
• January 2025: Fincantieri established a subsidiary, Fincantieri Arabia for Naval Services, to support Saudi Arabia's Vision 2030. The company has signed multiple Memoranda of Understanding (MoUs) to transfer shipbuilding expertise, including in the offshore sector, and to create opportunities for Saudi nationals.
• August 2024: NEOM collaborated with Candela to supply eight P-12 electric hydrofoil ships. These zero-emission vessels, delivering in 2025–2026, reflect rising OSV demand for sustainable, high-speed, and energy-efficient maritime transport.

Saudi Arabia Offshore Support Vessels Market Report Coverage:

Key Questions Answered in This Report:

• How has the Saudi Arabia offshore support vessels market performed so far and how will it perform in the coming years?
• What is the breakup of the Saudi Arabia offshore support vessels market on the basis of type?
• What is the breakup of the Saudi Arabia offshore support vessels market on the basis of water depth?
• What is the breakup of the Saudi Arabia offshore support vessels market on the basis of fuel?
• What is the breakup of the Saudi Arabia offshore support vessels market on the basis of service type?
• What is the breakup of the Saudi Arabia offshore support vessels market on the basis of application?
• What are the various stages in the value chain of the Saudi Arabia offshore support vessels market? 
• What are the key driving factors and challenges in the Saudi Arabia offshore support vessels market?
• What is the structure of the Saudi Arabia offshore support vessels market and who are the key players?
• What is the degree of competition in the Saudi Arabia offshore support vessels market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia offshore support vessels market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia offshore support vessels market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Saudi Arabia offshore support vessels industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.