AUV for Offshore Oil and Gas IRM Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of AUV for Offshore Oil and Gas IRM Market
The AUV for offshore oil and gas IRM market size was valued at USD 0.47 billion in 2023, and the market is now projected to grow from USD 0.55 billion in 2024 to USD 2.04 billion by 2032, exhibiting a CAGR of 20.7% during the forecast period of 2024-2032.
Pandemic disrupted the AUV for offshore oil and gas IRM market growth, leading to supply chain disruptions and delays in the deployment of offshore sites. The preliminary segment of the pandemic also halted exploration and production activities, similarly affecting covered-up AUV initiatives and hampered funding inside the market.
Rising electricity demand and urbanization in rising international locations like China and India are using improved oil and fuel exploration sports. Offshore installations are becoming greater state-of-the-art, principal to boom opportunities for Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG). The International Renewable Energy (IEA) 2021 record predicts herbal gasoline call for to get higher in 2021, taking advantage of an financial rebound and reduce charges, as intake returns to pre-catastrophe stages in mature markets.
DOF Subsea and Ocean Floor Geophysics Inc. Have partnered to offer Autonomous Underwater Vehicle (AU) services to the worldwide offshore employer. The partnership targets to leverage the boom of OFG's non-contact Integrated Cathodic Protection (ICP) inspection machine, allowing property to be shared on several pipeline inspection surveys. This collaboration is vital for the oil and gas industry's boom and mitigation of leak detection risks.
Comprehensive Analysis of AUV for Offshore Oil and Gas IRM Market
The autonomous underwater vehicles (AUVs) market in offshore oil and gas exploration is divided into man-portable, Light Weight Vehicle (LWV), and Heavy Weight Vehicle (HWV). The LWV segment holds the largest market share due to moderate depth exploration activities, while the HWV segment is expected to grow significantly due to increasing ultra-deepwater exploration activities and investment. The global market is divided into shallow water, deepwater, and ultra-deepwater segments, with deepwater holding a major share due to rising production from multiple reservoirs. The shallow water segment is expected to account for a significant market share due to wind farm sites in shallow waters. Propulsion systems for AUVs are divided into electric, mechanical, and hybrid systems. Electric systems dominate in 2021, while hybrid systems offer flexible operation profiles and reduced emissions.
The North America region lead the AUV for offshore oil and gas IRM market share by benefitting a market size of USD 0.14 billion in 2021 due to its growing deployment for inspection and records acquisition. The region is the hub of research and development for AUVs, with maximum deployment in research, army, and industrial programs, including offshore oil and gasoline, and home to main global gamers.
Offshore oil and fuel inspection, restore, and upkeep provider vendors are growing autonomous underwater cars (AUVs) to fulfill required abilities. The marketplace is fragmented, with leading vendors like Fugro, Technip, and Schlumberger investing in research and improvement. Key businesses predicted to lead the AUV for offshore oil and gasoline IRM marketplace consist of Eugro, Bluestream, James Fisher and Sons, Boskalis, Starke Marine, Sapura Energy Berhad, Petrofac, TechnipFMC, Oceaneering International, Schlumberger, and Baker Hughes.
Petrofac, a global power company, secured new contracts with Cairn Oil and Gas and Vedanta Limited in February 2022, marking its first huge Operation and Maintenance settlement in the united states of America.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2018-2029
Base Year
2021
Estimated Year
2022
Forecast Period
2022-2029
Historical Period
2018-2020
Unit
Value (USD Billion)
Segmentation
By Type, Water Depth, Propulsion System, and Region
By Type
Man-portable
Light Weight Vehicle (LWV)
Heavy Weight Vehicle (HWV)
By Water Depth
Shallow Water
Deepwater
Ultra-deepwater
By Propulsion System
Electric System
Hybrid System
Mechanical System
By Region
North America (By Type, By Water Depth, By Propulsion System, By Country)
- U.S.
- Canada
- U.K.
- Norway
- Netherlands
- Rest of Europe
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Mexico
- Brazil
- Rest of Latin America
- Saudi Arabia
- UAE
- Iran
- West Africa
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porter’s Five Forces Analysis
- 5. Qualitative Analysis – Impact of COVID-19
- 5.1. Impact of COVID-19 on the AUV for Offshore Oil and Gas IRM Market
- 5.2. Steps Taken by the Government to Overcome the Impact
- 5.3. Key Developments by Industry Players in Response to COVID-19
- 5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
- 6. Global AUV for Offshore Oil and Gas IRM Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Man-Portable
- 6.2.2. Light Weight Vehicle (LWV)
- 6.2.3. Heavy Weight Vehicle (HWV)
- 6.3. Market Analysis, Insights and Forecast – By Water Depth
- 6.3.1. Shallow Water
- 6.3.2. Deepwater
- 6.3.3. Ultra-Deepwater
- 6.4. Market Analysis, Insights and Forecast – By Propulsion System
- 6.4.1. Electric System
- 6.4.2. Mechanical System
- 6.4.3. Hybrid System
- 6.5. Market Analysis, Insights and Forecast – By Region
- 6.5.1. North America
- 6.5.2. Europe
- 6.5.3. Asia Pacific
- 6.5.4. Latin America
- 6.5.5. Middle East & Africa
- 7. North America AUV for Offshore Oil and Gas IRM Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Man-Portable
- 7.2.2. Light Weight Vehicle (LWV)
- 7.2.3. Heavy Weight Vehicle (HWV)
- 7.3. Market Analysis, Insights and Forecast – By Water Depth
- 7.3.1. Shallow Water
- 7.3.2. Deepwater
- 7.3.3. Ultra-Deepwater
- 7.4. Market Analysis, Insights and Forecast – By Propulsion System
- 7.4.1. Electric System
- 7.4.2. Mechanical System
- 7.4.3. Hybrid System
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. U.S.
- 7.5.2. Canada
- 8. Europe AUV for Offshore Oil and Gas IRM Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Man-Portable
- 8.2.2. Light Weight Vehicle (LWV)
- 8.2.3. Heavy Weight Vehicle (HWV)
- 8.3. Market Analysis, Insights and Forecast – By Water Depth
- 8.3.1. Shallow Water
- 8.3.2. Deepwater
- 8.3.3. Ultra-Deepwater
- 8.4. Market Analysis, Insights and Forecast – By Propulsion System
- 8.4.1. Electric System
- 8.4.2. Mechanical System
- 8.4.3. Hybrid System
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Norway
- 8.5.3. Netherlands
- 8.5.4. Rest of Europe
- 9. Asia Pacific AUV for Offshore Oil and Gas IRM Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Man-Portable
- 9.2.2. Light Weight Vehicle (LWV)
- 9.2.3. Heavy Weight Vehicle (HWV)
- 9.3. Market Analysis, Insights and Forecast – By Water Depth
- 9.3.1. Shallow Water
- 9.3.2. Deepwater
- 9.3.3. Ultra-Deepwater
- 9.4. Market Analysis, Insights and Forecast – By Propulsion System
- 9.4.1. Electric System
- 9.4.2. Mechanical System
- 9.4.3. Hybrid System
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Australia
- 9.5.4. Southeast Asia
- 9.5.5. Rest of Asia Pacific
- 10. Latin America AUV for Offshore Oil and Gas IRM Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Type
- 10.2.1. Man-Portable
- 10.2.2. Light Weight Vehicle (LWV)
- 10.2.3. Heavy Weight Vehicle (HWV)
- 10.3. Market Analysis, Insights and Forecast – By Water Depth
- 10.3.1. Shallow Water
- 10.3.2. Deepwater
- 10.3.3. Ultra-Deepwater
- 10.4. Market Analysis, Insights and Forecast – By Propulsion System
- 10.4.1. Electric System
- 10.4.2. Mechanical System
- 10.4.3. Hybrid System
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. Brazil
- 10.5.2. Mexico
- 10.5.3. Rest of Latin America
- 11. Middle East & Africa AUV for Offshore Oil and Gas IRM Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 11.1. Key Findings / Summary
- 11.2. Market Analysis, Insights and Forecast – By Type
- 11.2.1. Man-Portable
- 11.2.2. Light Weight Vehicle (LWV)
- 11.2.3. Heavy Weight Vehicle (HWV)
- 11.3. Market Analysis, Insights and Forecast – By Water Depth
- 11.3.1. Shallow Water
- 11.3.2. Deepwater
- 11.3.3. Ultra-Deepwater
- 11.4. Market Analysis, Insights and Forecast – By Propulsion System
- 11.4.1. Electric System
- 11.4.2. Mechanical System
- 11.4.3. Hybrid System
- 11.5. Market Analysis, Insights and Forecast – By Country
- 11.5.1. Saudi Arabia
- 11.5.2. UAE
- 11.5.3. Iran
- 11.5.4. West Africa
- 11.5.5. Rest of Middle East & Africa
- 12. Competitive Analysis
- 12.1. Company Market Share Analysis, 2021
- 12.2. Company Profile
- 12.2.1. Fugro
- 12.2.1.1. Business Overview
- 12.2.1.2. Product & Service Offering
- 12.2.1.3. Overall Revenue
- 12.2.1.4. Geographic Presence
- 12.2.1.5. Recent Development
- 12.2.2. Bluestream
- 12.2.2.1. Business Overview
- 12.2.2.2. Product & Service Offering
- 12.2.2.3. Overall Revenue
- 12.2.2.4. Geographic Presence
- 12.2.2.5. Recent Development
- 12.2.3. James Fisher and Sons plc
- 12.2.3.1. Business Overview
- 12.2.3.2. Product & Service Offering
- 12.2.3.3. Overall Revenue
- 12.2.3.4. Geographic Presence
- 12.2.3.5. Recent Development
- 12.2.4. Boskalis
- 12.2.4.1. Business Overview
- 12.2.4.2. Product & Service Offering
- 12.2.4.3. Overall Revenue
- 12.2.4.4. Geographic Presence
- 12.2.4.5. Recent Development
- 12.2.5. Starke Marine
- 12.2.5.1. Business Overview
- 12.2.5.2. Product & Service Offering
- 12.2.5.3. Overall Revenue
- 12.2.5.4. Geographic Presence
- 12.2.5.5. Recent Development
- 12.2.6. Sapura Energy Berhad
- 12.2.6.1. Business Overview
- 12.2.6.2. Product & Service Offering
- 12.2.6.3. Overall Revenue
- 12.2.6.4. Geographic Presence
- 12.2.6.5. Recent Development
- 12.2.7. Petrofac
- 12.2.7.1. Business Overview
- 12.2.7.2. Product & Service Offering
- 12.2.7.3. Overall Revenue
- 12.2.7.4. Geographic Presence
- 12.2.7.5. Recent Development
- 12.2.8. TechnipFMC
- 12.2.8.1. Business Overview
- 12.2.8.2. Product & Service Offering
- 12.2.8.3. Overall Revenue
- 12.2.8.4. Geographic Presence
- 12.2.8.5. Recent Development
- 12.2.9. Oceaneering International
- 12.2.9.1. Business Overview
- 12.2.9.2. Product & Service Offering
- 12.2.9.3. Overall Revenue
- 12.2.9.4. Geographic Presence
- 12.2.9.5. Recent Development
- 12.2.10. Schlumberger
- 12.2.10.1. Business Overview
- 12.2.10.2. Product & Service Offering
- 12.2.10.3. Overall Revenue
- 12.2.10.4. Geographic Presence
- 12.2.10.5. Recent Development
- 12.2.11. Baker Hughes
- 12.2.11.1. Business Overview
- 12.2.11.2. Product & Service Offering
- 12.2.11.3. Overall Revenue
- 12.2.11.4. Geographic Presence
- 12.2.11.5. Recent Development
- 12.2.12. Aker Solutions
- 12.2.12.1. Business Overview
- 12.2.12.2. Product & Service Offering
- 12.2.12.3. Overall Revenue
- 12.2.12.4. Geographic Presence
- 12.2.12.5. Recent Development
- 12.2.13. Houston Mechatronics
- 12.2.13.1. Business Overview
- 12.2.13.2. Product & Service Offering
- 12.2.13.3. Overall Revenue
- 12.2.13.4. Geographic Presence
- 12.2.13.5. Recent Development
- 12.2.14. Forum Energy Technologies, Inc.
- 12.2.14.1. Business Overview
- 12.2.14.2. Product & Service Offering
- 12.2.14.3. Overall Revenue
- 12.2.14.4. Geographic Presence
- 12.2.14.5. Recent Development
- 12.2.15. Saipem
- 12.2.15.1. Business Overview
- 12.2.15.2. Product & Service Offering
- 12.2.15.3. Overall Revenue
- 12.2.15.4. Geographic Presence
- 12.2.15.5. Recent Development
- 12.2.16. Subsea 7
- 12.2.16.1. Business Overview
- 12.2.16.2. Product & Service Offering
- 12.2.16.3. Overall Revenue
- 12.2.16.4. Geographic Presence
- 12.2.16.5. Recent Development
- 12.2.17. Saab Seaeye
- 12.2.17.1. Business Overview
- 12.2.17.2. Product & Service Offering
- 12.2.17.3. Overall Revenue
- 12.2.17.4. Geographic Presence
- 12.2.17.5. Recent Development
- 12.2.18. Sonardyne International Ltd
- 12.2.18.1. Business Overview
- 12.2.18.2. Product & Service Offering
- 12.2.18.3. Overall Revenue
- 12.2.18.4. Geographic Presence
- 12.2.18.5. Recent Development
- 12.2.19. DeepOcean
- 12.2.19.1. Business Overview
- 12.2.19.2. Product & Service Offering
- 12.2.19.3. Overall Revenue
- 12.2.19.4. Geographic Presence
- 12.2.19.5. Recent Development
- 12.2.20. IKM Subsea
- 12.2.20.1. Business Overview
- 12.2.20.2. Product & Service Offering
- 12.2.20.3. Overall Revenue
- 12.2.20.4. Geographic Presence
- 12.2.20.5. Recent Development
- 12.2.21. ROVOP
- 12.2.21.1. Business Overview
- 12.2.21.2. Product & Service Offering
- 12.2.21.3. Overall Revenue
- 12.2.21.4. Geographic Presence
- 12.2.21.5. Recent Development
- 12.2.22. ROVCO
- 12.2.22.1. Business Overview
- 12.2.22.2. Product & Service Offering
- 12.2.22.3. Overall Revenue
- 12.2.22.4. Geographic Presence
- 12.2.22.5. Recent Development
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