Offshore Support Vehicle Market Analysis

The market is segmented by end user into oil & gas, patrolling, offshore wind, research & surveying, and others, out of which, the offshore wind segment is anticipated to observe notable growth in the global offshore support vehicle industry. This can be accounted to the favorable government initiatives to promote the generation of clean energy and curb harmful GHF discharges. Apart from this, the oil & gas segment is assessed to gather the largest share during the forecast period owing to the growing investments in exploration and production (E&P) operations. Additionally, on the basis of vessel type, the anchor handling tug vessels (AHT) segment is predicted to occupy the largest share by the end of 2030 ascribing to the high usage of these type of vessels to supply equipment such as anchors, tugs and winches to hydrocarbon E&P sites.

Our in-depth analysis of the global market includes the following segments:

By Vessel Type	Anchor Handling Tug Vessels (AHT) Platform Supply Vessels (PSV) Crew Vessel Others
By End-User	Oil & Gas Patrolling Offshore Wind Research & Surveying Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of offshore support vehicle is evaluated at USD 17.98 billion.

Offshore Support Vehicle Market size was valued at USD 17.04 billion in 2023 and is set to cross USD 40.57 billion by 2036, registering more than 6.9% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by increasing investments in offshore oil & gas and renewable sectors, and growing number of deep-water exploration activities.

North America industry is likely to hold largest revenue share by 2036, ascribed to rise in investments for E&P activities from oil & gas companies, and increasing production from conventional and unconventional oil reservoirs in the region.

The major players in the market are Bourbon Corporation SA, Tidewater Inc., Seacor Marine Holdings Inc., Maersk Supply Service A/S. Solstad Offshore ASA, and others.

Offshore Support Vehicle Market Analysis