According to Cognitive Market Research, the global Deep Water Support Vessel market size is USD 17581.9 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.
North America held the major market share of more than 40% of the global revenue with a market size of USD 7032.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global revenue with a market size of USD 5274.57 million.
Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 4043.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
Latin America market share of more than 5% of the global revenue with a market size of USD 879.10 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 351.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
The offshore Oil & Gas industry dominates the Deep Water Support Vessel market. This sector heavily relies on a wide range of support vessels, including platform supply vessels, anchor-handling tug supply vessels, and multipurpose support vessels, to facilitate exploration, drilling, and production activities.
