Press release
Crew Transfer Vessel (CTV) Market to Surpass USD 4928 Million by 2031 | Offshore Wind Energy Boom Fuels Demand
Crew Transfer Vessel (CTV) Market SizeThe global market for Crew Transfer Vessel (CTV) was valued at US$ 3622 million in the year 2024 and is projected to reach a revised size of US$ 4928 million by 2031, growing at a CAGR of 4.5% during the forecast period.
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Crew Transfer Vessel (CTV) is a vessel specifically designed for the transportation of crew members between offshore facilities or platforms, such as oil rigs or wind turbines, and the shore. It provides a safe and efficient means of transferring personnel to and from these locations, often in remote or challenging environments. CTVs are typically equipped with necessary safety features and designed to accommodate the unique challenges of offshore operations, including rough seas, high winds, and limited space. They are an integral part of the maritime industry, ensuring the safe transportation of personnel in support of offshore energy and other related operations.
North American market for Crew Transfer Vessel (CTV) is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Asia-Pacific market for Crew Transfer Vessel (CTV) is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
By Type
• Monohull Vessels
• Catamaran
• Trimaran
By Application
• Offshore Wind Farms
• Oil and Gas Platforms
• Marine Research and Survey
Key Companies
BMT Group, Damen, OEG Renewables, Manor Renewable Energy, Strategic Marine, Penguin, Tidal Transit, Windcat, Blount Boats, Umoe Mandal, Alicat, Fjellstrand, Diverse Marine, Chartwell, Incat Crowther, Julong Technology, PIRIOU, Artemis, Mobimar
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