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 and ROV market.
The global offshore AUV & ROV market is segmented based on product type, propulsion system, depth, application, end user, company, and region. Based on propulsion system, the market can be categorized into hybrid system, electric system, mechanical system. The electric system is expected to dominate the market during the forecast period on account of associated advantages such as low weight, versatility, small & compact size, reliability, low noise, among others.
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.
The major players operating in the offshore AUV & ROV market are Oceaneering International, Inc, Fugro NV, DOF Subsea AS, Subsea 7, Inc, Helix Energy Solutions Group Inc, Atlas Electronik GmbH, Kongsberg Maritime AS, Deep Ocean Group, Saipem S.p.A, Teledyne Technologies Inc. and others. 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.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026.
Objective of the Study:
- To analyze historical growth in market size of Global Offshore AUV & ROV Market from 2016 to 2020.
- To estimate and forecast the market size of Global Offshore AUV & ROV Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast 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 global offshore AUV & ROV market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global offshore AUV & ROV market.
- To identify and analyze the profiles of leading players operating in global offshore AUV & ROV market.
- To identify key sustainable strategies adopted by market players in global offshore AUV & ROV market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of Global Offshore ROV &AUV Market using a Top-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Offshore AUV & ROV manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers.
- Organizations, forums, and alliances related to offshore AUV & ROV.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Global Offshore AUV & ROV Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Offshore AUV & ROV Market, By Product Type:
? Man Portable
? Large Vehicle
? Light Weight Vehicle (LWV)
? Heavy Weight Vehicle (HWV)
? Small Vehicle
? Work-Class Vehicle
? Heavy Work-Class Vehicle
? High-Capacity Electric Vehicle
- Global Offshore AUV & ROV Market, By Propulsion System:
o Hybrid System
o Electric System
o Mechanical System
- Global Offshore AUV & ROV Market, By Depth:
o Less Than 5,000 Feet
o 5,000–10,000 Feet
o Above 10,000 Feet
- Global Offshore AUV & ROV Market, By Application:
o Drilling & Well Completion Support
o Construction Support
o Repair & Maintenance Service
o Subsea Engineering Services & Remote Subsea Intervention Tooling Design
- Global Offshore AUV & ROV Market, By End User:
o Oil & Gas
o Scientific Research
- Global Offshore AUV & ROV Market, By Region:
o North America
o Asia Pacific
o South America
Company Profiles: Detailed analysis of the major companies present in Global Offshore AUV & ROV Market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).