As the global economy recovers in 2021 and the supply of the industrial chain improves, the offshore AUV and ROV market will undergo major changes. The offshore AUV and ROV market is expected to register a CAGR of 7.11% during the forecast period of 20222027, reaching the value of USD 3,262 million by 2027 from USD 2,005 million in 2020. The COVID-19 outbreak in Q1 of 2020 had led to a decline in demand from end-user applications and further delayed financial investment decisions and capital expenditure. Factors such as rising offshore oil and gas production activities, growing offshore wind power industry, and increasing oil and gas decommissioning activities are expected to drive the offshore AUV and ROV market during the forecast period. However, countries planning to increase their focus on climate change and banning offshore exploration activities in the future are expected to restrain the market growth.
The global offshore AUV and ROV industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.
The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global offshore AUV and ROV market during the next few years. The global offshore AUV and ROV market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.
The offshore AUV and ROV market can be split based on product types, major applications, and important regions as follows:
DOF Subsea AS
Oceaneering International, Inc.
Oil and Gas
Other End-user Applications