Offshore Auv and Rov Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The offshore AUV and ROV market is expected to register a CAGR of 7.11% during the forecast period of 2022–2027, reaching the value of USD 3,262 million by 2027 from USD 2,005 million in 2020. The COVID-19 outbreak in Q1 of 2020 had led to a decline in demand from end-user applications and further delayed financial investment decisions and capital expenditure. Factors such as rising offshore oil and gas production activities, growing offshore wind power industry, and increasing oil and gas decommissioning activities are expected to drive the offshore AUV and ROV market during the forecast period. However, countries planning to increase their focus on climate change and banning offshore exploration activities in the future are expected to restrain the market growth.
Key HighlightsThe offshore AUV and ROV market is moderately fragmented. The key players in the market include DOF Subsea AS, Fugro NV, Subsea 7 SA, Saipem SpA, and Oceaneering International Inc.
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