Global AUV & ROV Market Set to Reach US$7 Bn by 2030 with a CAGR of 7.8%

 The worldwide market for autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs) is projected to 2023 and 2030 attain a robust compound annual growth rate (CAGR) of roughly 7.8%, resulting in an estimated revenue of US$7 Bn by the end of the decade, according to a new report by Fairfield Market Research.

๐…๐จ๐ซ ๐Œ๐จ๐ซ๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ ๐‘๐ž๐š๐: https://www.fairfieldmarketresearch.com/report/auv-rov-market

The growing usage of AUVs and ROVs is one of the main factors causing this growth. for offshore equipment maintenance and repair, especially for subsea sites used for production and exploration. In addition, the swift advancement in AUV and ROV technologies has resulted in significant investments in the sector. ROVs currently dominate the market, with a share of over 75% in 2022, due to their wide-ranging applications in various phases of offshore oilfield developments. However, AUVs, largely employed in military and academic research, are anticipated to experience rapid growth in the near future.


By 2022, electrical and hybrid propulsion systems would hold a market share of more than 70%. Meanwhile, the oil and gas sector held over 50% of the global AUV & ROV market in the same year, largely thanks to the rise in offshore deep and ultra-deep-water exploration activities.

Geographically, the Middle East and Africa currently lead the market, with North America and Europe also witnessing a surge in demand. Notably, a new wave of exploration and production (E&P) spending following recent oil well discoveries in offshore eastern Canada is expected to significantly boost the North American market.

The report reveals that the top 10 industry players, including SUBSEA7, Oceaneering International, Inc., Argeo, Fugro, Saab AB, Atlas Elektronik Gmbh, BIRNS, Inc., Technip fmc, Stapem Offshore, and Kongsberg Maritime, hold over half of the market's revenue, indicating a high level of market consolidation.

To find out more about the global AUV & ROV market and the opportunities it holds, access the full report from Fairfield Market Research.

Read More: https://www.fairfieldmarketresearch.com/

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Asset Integrity Management Services Study, Competitive Strategies, Key Manufacturers, New Project Investment by 2025

Image
 The oil and gas industry's assets, including as offshore platforms, drilling rigs, and pipelines, have been used well past their design lives. A majority of the assets are likely to be utilised more during the projected period owing to an ongoing increase in production demand. Severe ocean currents, corrosive saltwater, and frequent hurricanes are all factors that affect offshore gas sites. Platforms, unlike drilling rigs, are not transportable and cannot be transported to shore for repairs. The maintenance data for several of the platforms are either missing or untrustworthy. The demand for asset integrity management services in the gas sector is predicted to rise as infrastructure ages, to extend the life of these assets. This can be accounted as a key driver of growth for the global Oil and Gas Asset Integrity Management Services Market.   Looking For a Sample Copy of This Report? Request the Same Here: https://www.fairfieldmarketresearch.com/report/oil-gas-asset...
Read more