Europe ROV Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Europe's ROV market is expected to register a CAGR of 5% during the forecast period of 2022–2027. The COVID-19 outbreak in Q1 of 2020 led to a decline in demand from end-user applications and further delayed financial investment decisions and capital expenditure. Factors such as rising oil and gas production activities, a growing offshore wind power industry, and increasing oil and gas decommissioning activities are expected to drive Europe's ROV market during the forecast period. However, a shift toward renewable energy sources, along with the high volatility of crude oil prices, is expected to hinder the market growth.
Key HighlightsThe Europe ROV Market is fragmented. The key players in the market include DeepOcean AS, DOF Subsea AS, Subsea 7 S.A, Saipem SpA, and Fugro N.V. among others.
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook