Global Underwater ROV Market Growth 2023-2029

Global Underwater ROV Market Growth 2023-2029

An underwater remotely operated vehicle (ROV) is an unoccupied underwater robot that is connected to a ship by a series of cables. These cables transmit command and control signals between the operator and the ROV, allowing remote navigation of the vehicle. An ROV may include a video camera, lights, sonar systems, and an articulating arm. The articulating arm is used for retrieving small objects, cutting lines, or attaching lifting hooks to larger objects. The report mainly focuses on ROVs with max working depth between 100 to 500m.
LPI (LP Information)' newest research report, the “Underwater ROV Industry Forecast” looks at past sales and reviews total world Underwater ROV sales in 2022, providing a comprehensive analysis by region and market sector of projected Underwater ROV sales for 2023 through 2029. With Underwater ROV sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Underwater ROV industry.
This Insight Report provides a comprehensive analysis of the global Underwater ROV landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Underwater ROV portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Underwater ROV market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Underwater ROV and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Underwater ROV.
The global Underwater ROV market size is projected to grow from US$ 81 million in 2022 to US$ 146.7 million in 2029; it is expected to grow at a CAGR of 146.7 from 2023 to 2029.
This market has witnessed significant growth owing to increased usage in aquaculture, dams and ships inspection and scientific and research. Increased investment in underwater ROV by leading players is expected to favourably impact market growth over the forecast period.
The Asia Pacific is expected to be the fastest-growing market over the forecast period owing to extensive usage in the market. Developing Countries such as China, India and Southeast Asia have great potential due to the fast economy development.
For the underwater ROV industry, the market is concentrated. VideoRay, Teledyne and ECA Group are the leader companies globally. The top five manufacturers have more than 30% of the market share and they have expanded their sales worldwide.
This report presents a comprehensive overview, market shares, and growth opportunities of Underwater ROV market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Max Depth 100-300m
Max Depth 301-500m
Segmentation by application
Aquaculture
Dams and Ships Inspection
Scientific and Research
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
VideoRay
Teledyne
Eca Group
Deep Trekker
SEAMOR Marine
Lighthouse
Saab
Deep Ocean Engineering
ROBOSEA
Blueye Robotics
Deepinfar
Shenzhen Vxfly
Nido Robotics
Subsea Tech
Blue Robotics
IROV Technologies

Key Questions Addressed in this Report
What is the 10-year outlook for the global Underwater ROV market?
What factors are driving Underwater ROV market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Underwater ROV market opportunities vary by end market size?
How does Underwater ROV break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.