The Global Offshore AUV & ROV Market was valued USD 3.53 Billion in 2020 and is expected to grow at an impressive rate of 11.48% CAGR during 2021-2026.
The Global Offshore AUV & ROV Market is driven by the increasing offshore oil & gas discoveries in different countries across the globe.
Additionally, these AUVs & ROVs help in detecting submerged rocks and obstructions and raise alarms & alerts. As a result of this they are highly preferred and used in the navigational system of marine vehicles. However, this is quite capital intensive and requires huge investment thereby restricting the market growth during the forecast period.
The exceptional services offered by autonomous underwater vehicle (AUV) as well as remotely operated vehicles (ROV) have created a huge demand across the world. The excessive use of fossil fuels has led to an increasing adoption of AUV and ROV among end-users across the world. The constantly rising demand for hydrocarbons has encouraged companies to focus on offshore drilling activities, to enhance green energy.
The role of AUVs in studying seafloors before construction of subs-seas infrastructure has fueled the demand for AUVs in recent years. Additionally, the incorporation of technologies such as intelligent control systems and sensor-based steering will contribute to an increase in the demand for AUVs and ROVs across the world. The report encompasses several factors that have constituted an increase in the Global Offshore AUV & ROV Market.
Regionally, the offshore AUV & ROV market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the overall offshore AUV & ROV market owing to the increasing oil & gas projects especially in the U.S. and Mexico.
Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Objective of the Study:
To analyze historical growth in market size of the Global Offshore AUV & ROV Market from 2016 to 2020.
To estimate and forecast the market size of the Global Offshore AUV & ROV Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Offshore AUV & ROV Market based on product type, propulsion system, depth, application, end-user, company, and regional distribution.
To identify dominant region or segment in the Global Offshore AUV & ROV Market.
To identify drivers and challenges for the Global Offshore AUV & ROV Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Offshore AUV & ROV Market.
To identify and analyze the profiles of leading players operating in the Global Offshore AUV & ROV Market.
To identify key sustainable strategies adopted by market players in the Global Offshore AUV & ROV Market.
The major players operating in the offshore AUV & ROV market are:
Oceaneering International, Inc
DOF Subsea AS
Subsea 7, Inc
Helix Energy Solutions Group Inc
Atlas Electronik GmbH
Kongsberg Maritime AS
Deep Ocean Group
Teledyne Technologies Inc.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026.
Global Offshore AUV & ROV Market, By Product Type:
Light Weight Vehicle (LWV)
Heavy Weight Vehicle (HWV)
Heavy Work-Class Vehicle
High-Capacity Electric Vehicle
Global Offshore AUV & ROV Market, By Propulsion System: