AUV & ROV for Offshore IRM Market
Growth Factors of AUV & ROV for Offshore IRM Market
The global AUV & ROV for offshore IRM market size was valued at USD 5.81 billion in 2023 and is projected to grow from USD 6.30 billion in 2024 to USD 12.21 billion by 2032, exhibiting a CAGR of 8.63% during the forecast period of 2024-2032.
The pandemic considerably affected the Offshore IRM market for AUVs and ROVs, causing supply chain disruptions that delayed production and deployment. Movement restrictions confine entry to offshore websites, decreasing operational ability and growing costs, impeding the AUV & ROV for offshore IRM market growth.
Critical elements for the AUV and ROV market in offshore IRM encompass rising demand for underwater inspections of growing older infrastructure, improvements in autonomous technology, accelerated focus on environmental safety, and developing investments in offshore strength initiatives, specifically renewables.
Advanced AUV and ROV technology are driving the offshore IRM market. These motors are becoming increasingly autonomous, able to perform complex responsibilities with minimum human intervention. Equipped with superior sensors and payloads, together with high-decision cameras, manipulators, and scientific instruments, AUVs and ROVs can collect precious information, conduct inspections, and perform upkeep responsibilities in complex underwater environments, expanding the AUV & ROV for offshore IRM market share globally. This technological advancement is enhancing the performance and effectiveness of offshore IRM operations.
Comprehensive Analysis of AUV & ROV for Offshore IRM Market
The AUV and ROV for the Offshore IRM market are segmented by kind, water depth, and application. By kind, ROVs dominate due to their potential to execute complicated operations with real-time control. The deep water segment leads by water intensity, profiting from sizeable oil and gas infrastructure, while shallow water is growing because of offshore renewable energy projects. By utility, the oil and gas area holds the most crucial percentage, pushed via the need for regular protection, with growing interest in offshore renewables and defense sectors also contributing to market growth.
The Asia Pacific region led the AUV & ROV for offshore IRM market by benefitting a size of USD 2.54 billion in 2023 due to the fast development happening in offshore oil and gas infrastructures, in addition to improvements in renewable energy.
The leading players in the AUV & ROV for Offshore IRM market significantly shape its growth trajectory and establish industry standards. Key players such as Fugro (Netherlands), Bluestream (Netherlands), James Fisher and Sons plc (U.K.), Boskalis (Netherlands), ROVCO (England), Sapura Energy Berhad (Malaysia), Saab Seaeye Ltd (U.K.), TechnipFMC (U.K.), Oceaneering International, Inc. (U.S.), Nexxis (U.S.), Baker Hughes (U.S.), Aker Solutions (Norway), STAPEM Offshore (France), Forum Energy Technologies, Inc. (U.S.), Saipem (Italy), Subsea 7 (U.K.), Utility ROV Services (Scotland), Orca Maritime, Inc. (U.S.), DeepOcean (Norway), IKM Subsea (Norway), and ROVOP (U.K.) contribute to a competitive landscape that drives innovation and market advancement.
In November 2023, Oceaneering International, Inc. introduced that Oceaneering Australia has presented an Inspection, Maintenance, and Repair (IMR) and Survey agreement using a distinguished power organization in Australia. Under this settlement, Oceaneering will perform diverse IMR and survey duties, which embody presenting remotely operated automobile (ROV) and survey personnel and systems, carrying out subsea inspections, coping with and engineering onshore initiatives, processing facts and associated deliverables, providing photogrammetry offerings, and facilitating onshore ROV video streaming for remote inspections.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 8.63% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
ROV (Remotely Operated Vehicle)
- High Capacity Electric Vehicle
- Small Vehicle
- Heavy Work-Class Vehicle
- Work-Class Vehicle
AUV (Autonomous Underwater Vehicle)
- Man-portable
- Light Weight Vehicle (LWV)
- Heavy Weight Vehicle (HWV)
By Water Depth
Shallow Water
Deep Water
Ultra-deepwater
By Application
Offshore Renewable
Oil & Gas
Aquaculture
Security & Defense
Scientific/Institutional Survey
Others
By Region
North America (By Type, By Water Depth, By Application, By Country)
- U.S. (By Water Depth)
- Canada (By Water Depth)
Europe (By Type, By Water Depth, By Application, By Country)
- U.K. (By Water Depth)
- Norway (By Water Depth)
- Netherlands (By Water Depth)
- Rest of Europe (By Water Depth)
Asia Pacific (By Type, By Water Depth, By Application, By Country)
- China (By Water Depth)
- India (By Water Depth)
- Australia (By Water Depth)
- Southeast Asia (By Water Depth)
- Rest of the Asia Pacific (By Water Depth)
Rest of the World (By Type, By Water Depth, By Application, By Country)
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