North America ROV Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The North America ROV market is expected to register a CAGR of more than 6% during the forecast period (2022 – 2027). The COVID-19 outbreak led to a decline in offshore wind energy installation, and the discovery of new oil and gas fields, mainly due to the induced lockdown across the region. Factors such as increasing offshore oil and gas discoveries and rising oil, upcoming offshore wind energy projects and gas decommissioning activities are expected to drive the North American ROV market during the forecast period. However, the declining number of offshore rigs and offshore oil and gas activities are restraining the market.
Key HighlightsThe North America ROV market is moderately fragmented. The key players in the market include DeepOcean AS, DOF Subsea AS, Oceaneering International Inc., Helix Energy Solutions Group Inc, and TechnipFMC PLC. among others.
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