Dublin, May 25, 2021 (GLOBE NEWSWIRE) -- The "Global Offshore AUV & ROV Market, By Product Type (AUV, ROV), By Propulsion System (Hybrid System, Electric System, Mechanical System), By Depth, By Application, By End User, By Region, Competition Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
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
- 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.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026.
Report Scope:
Global Offshore AUV & ROV Market, By Product Type:
- AUV
- Man Portable
- Large Vehicle
- Light Weight Vehicle (LWV)
- Heavy Weight Vehicle (HWV)
- ROV
- Small Vehicle
- Work-Class Vehicle
- Heavy Work-Class Vehicle
- High-Capacity Electric Vehicle
Global Offshore AUV & ROV Market, By Propulsion System:
- Hybrid System
- Electric System
- Mechanical System
Global Offshore AUV & ROV Market, By Depth:
- Less Than 5,000 Feet
- 5,000-10,000 Feet
- Above 10,000 Feet
Global Offshore AUV & ROV Market, By Application:
- Drilling & Well Completion Support
- Construction Support
- Inspection
- Repair & Maintenance Service
- Subsea Engineering Services & Remote Subsea Intervention Tooling Design
Global Offshore AUV & ROV Market, By End-User:
- Oil & Gas
- Defense
- Commercial
- Scientific Research
Global Offshore AUV & ROV Market, By Region:
- North America
- Europe
- Asia Pacific
- South America
- MEA
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Offshore AUV & ROV Market
4. Executive Summary
5. Voice of Customer
6. Global Offshore AUV & ROV Market Outlook
7. Asia-Pacific Offshore AUV & ROV Market Outlook
8. Europe Offshore ROV & AUV Market Outlook
9. North America Offshore ROV & AUV Market Outlook
10. Middle East & Africa Offshore ROV & AUV Market Outlook
11. South America Offshore ROV & AUV Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/8yobnd