Global Offshore ROV Market 2018-2023: Focus on Completion, Construction, Repair & Maintenance, Design & Build, and Engineering
DUBLIN, July 17, 2018 /PRNewswire/ --
The "Offshore ROV Market by Type (Observation, Work, and Intervention), Depth (<_000_ _000-10_000_="_000-10_000_">10,000 Feet), Application (Completion, Construction, Repair & Maintenance, Design & Build, and Engineering), AUV & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global offshore ROV market is estimated to be USD 802.9 million in 2018 and is projected to reach USD 943.1 million by 2023, growing at a CAGR of 3.27% from 2018 to 2023.
Offshore oil and gas discoveries in prominent countries and rise in demand for oil and gas are driving the offshore ROV market globally.
The offshore ROV market has been segmented, by type, into Observation class, Work Class, and Intervention Class. The observation class segment is expected to be the largest because it can be used in all kinds of offshore applications for observing the process during drilling and completion work.
The offshore ROV market has been segmented, by depth, into Less than 5,000 feet, 5,000-10,000 feet, and Above 10,000 feet. The 5,000-10,000 feet segment is estimated to hold the largest share of the market during the forecast period. Operators are undertaking complicated offshore field development reserves in order to access marginal reserves in deep and ultra-deep water, particularly in the deep-water Golden Triangle' regions of Africa, Latin America, and North America.
The offshore ROV market has been segmented, by application, into Drilling and Well Completion Support, Construction Support, Inspection Repair & Maintenance Services, Remote Subsea Intervention Tooling Design and Build, and Subsea Engineering Services. The Drilling and Well Completion Support segment is estimated to hold the largest market share by 2023. The market growth in the segment is driven by the increase in deep water offshore activities in Angola and ultradeep water in Brazil.
The offshore ROV market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, South America, and the Middle East & Africa. The Middle East & Africa is expected to dominate the offshore ROV market during the forecast period. The rise in offshore deep and ultradeep water activities is driving the offshore ROV market in the Middle East & Africa region.
High capital investments can restrain the growth of the offshore ROV market, particularly in the Asia Pacific region.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Offshore ROV Market
4.2 Market, By Type/Class
4.3 Market, By Application
4.4 Market, By Depth
4.5 Middle East & Africa: Market, By Country & Type/Class
4.6 Market, By Country
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Offshore Oil & Gas Discoveries in Prominent Countries
5.1.1.2 Rise in Demand for Oil & Gas
5.1.2 Restraints
5.1.2.1 Capital-Intensive Market
5.1.3 Opportunities
5.1.3.1 Arctic Discoveries
5.1.4 Challenges
5.1.4.1 High Operational Risk
5.1.4.2 Lack of Technical Expertise
5.2 Recent Trends
5.2.1 Automated ROV/Smart ROV
6 Offshore ROV Market, By Type/Class
6.1 Introduction
6.2 Observation Class
6.3 Work Class
6.4 Intervention/Inspection Class
7 Offshore ROV Market, By Application
7.1 Introduction
7.2 Drilling and Well Completion Support
7.3 Construction Support
7.4 Inspection, Repair, and Maintenance Service
7.5 Remote Subsea Intervention Tooling Design and Build
7.6 Subsea Engineering Services
8 Offshore ROV Market, By Depth
8.1 Introduction
8.2 Less Than 5,000 Feet
8.3 5,000-10,000 Feet
8.4 Above 10,000 Feet
9 AUV Market, By Type
9.1 Introduction
9.2 Small AUV (Depth Up to 100 M)
9.3 Medium AUV (Depth Up to 1,000 M)
9.4 Large AUV (Depth More Than 1,000 M)
10 Offshore ROV Market, By Region
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Contracts & Agreements
11.3.3 Others
12 Company Profiles
12.1 Competitive Benchmarking
12.2 Oceaneering International
12.3 Subsea 7
12.4 Fugro
12.5 Technipfmc
12.6 Saipem
12.7 Forum Energy Technologies
12.8 DOF Subsea
12.9 ECA Group
12.10 Deepocean
12.11 International Submarine Engineering
12.12 Deep Ocean Engineering
12.13 Ac-Cess
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