Offshore AUV & ROV Market: Exploring Opportunities with Market Size and Growth Projections

1
Offshore AUV ROV Market Exploring
Opportunities with Market Size and Growth
Projections
TechSci Research recently released a report on
the Global Offshore AUV ROV Market, which
forecasts that the market will grow at a CAGR of
11.48 in value terms and reach USD7.03 billion
by 2026. Autonomous underwater vehicles (AUV)
and remotely operated vehicles (ROV) are in high
demand due to their exceptional services. The
increasing adoption of AUV and ROV is driven by
the excessive use of fossil fuels, which has led
to the need for green energy solutions. The
rising demand for hydrocarbons
2
has also encouraged companies to focus on
offshore drilling activities, while AUVs have
become important in studying seafloors before
the construction of sub-seas infrastructure.
Additionally, the integration of intelligent
control systems and sensor-based steering
technologies will contribute to an increase in
demand for AUVs and ROVs worldwide during the
forecast period. Browse 287 Figures spread
through 110 Pages and an in- depth TOC on
"Global Offshore AUV ROV Market https//www.tec
hsciresearch.com/report/global-offshore-
auv-rov-market/3336.html The exploration of
deep-water reserves has become necessary due to
the ever-increasing demand for oil and gas and
the depletion of near-shore and onshore reserves.
As a result, high technology-based remotely
operated vehicles (ROVs) are increasingly being
used to tap reserves buried thousands of meters
deep in the ocean floor. The offshore AUV ROV
market has been segmented into various regions,
including Asia-Pacific, North America, South
America, Europe, and Middle East Africa. North
America is expected to dominate the overall
offshore AUV ROV market owing to the
increasing oil gas projects, especially in the
U.S. and Mexico. In the remotely operated
vehicles market, work class vehicles are the
product type segment contributing to the largest
market share. Light work class ROVs, which weigh
about 700 kg, are used in engineering and
scientific research to capture, measure,
construct, or conceal items underwater. The
3
maximum depth range for light work class ROVs is
between 4,000 and 6,000 meters. Work class ROVs
with robotic arm manipulators are used to grasp
objects, pumps, and brushes for cleaning
operations, as well as for underwater pipeline or
deep-water rig construction. Electronic
instruments used in work class ROVs include
underwater cameras and lights, acoustic
positioning instruments, Conductivity,
Temperature, and Depth (CTD) recording
instruments, tracking systems, and side-scan,
bottom scan, and multi-beam sonar. The
exceptional services offered by autonomous
underwater vehicles (AUVs) as well as remotely
operated vehicles (ROVs) have created a huge
demand worldwide. The excessive use of fossil
fuels has led to an increasing adoption of AUVs
and ROVs among end-users worldwide. The
constantly rising demand for hydrocarbons has
encouraged companies to focus on offshore
drilling activities to enhance green energy. The
role of AUVs in studying seafloors before the
construction of subs-seas infrastructure has
fueled the demand for AUVs in recent years.
Additionally, the incorporation of technologies
such as intelligent control systems and
sensor-based steering will contribute to an
increase in the demand for AUVs and ROVs
worldwide. The report covers several factors
that have contributed to the increase in the
global offshore AUV and ROV market. Oceaneering
International. Inc, Fugro, DOF Subsea, Helix
Energy Solutions, Subsea 7. Inc, SaaB AB, Bluefin
Robotics, Atlas Electronik, Kongsberg Maritime,
Deep Ocean Group,
4
Saipem S.p.A, Teledyne Technologies, are some of
the companies operating in the offshore AUV
ROV market. Download Sample Report _at_
https//www.techsciresearch.com/sample-
report.aspx?cid3336 Customers can also request
for 10 free customization on this report. The
electric system accounted for largest market
share of 37.86 in 2020 and is expected to
dominate the market by 2026 with a share of
38.72. Electric systems contain lithium-ion
batteries that are used in ROVs and these
batteries are useful for increased endurance and
greater operating range. Moreover, these
batteries are commonly used in combination with
other propulsion systems for improving the
efficiency and reliability of ROVs. High
thrust to weight ratio, excellent reliability in
operations, ability to fit a battery for
tether-less operations, and environment friendly
are some of the benefits of an electric
propulsion system. Additionally, technological
advancement in AUV ROV propulsion system,
ongoing research activities on marine science,
and the launch of efficient electric propulsion
systems are the factors that have boosted the
adoption of electric propulsion., said Mr. Karan
Chechi, Research Director with TechSci Research,
a research based global management consulting
firm. Global Offshore AUV ROV Market By
Product Type (AUV, ROV), By Propulsion System
(Hybrid System, Electric System, Mechanical
System), By Depth (Less Than 5,000
5
Feet, 5,00010,000 Feet, Above 10,000 Feet), By
Application (Drilling Well Completion Support,
Construction Support, Inspection, Repair
Maintenance Service, Subsea Engineering Services
Remote Subsea Intervention Tooling Design), By
End User (Oil Gas, Defense, Commercial,
Scientific Research) By Region, Competition
Forecast Opportunities, 2016-2026 has
evaluated the future growth potential of Global
Offshore AUV ROV Market and provided
statistics information on market size, shares,
structure, and future market growth. The report
intends to provide cutting-edge market
intelligence and help decision makers take sound
investment decisions. Besides, the report also
identifies and analyzes the emerging trends along
with essential drivers, challenges, and
opportunities in Global Offshore AUV ROV
Market. About TechSci Research TechSci Research
is a research-based management consulting firm
providing market research and advisory solutions
to its customers worldwide, spanning a range of
industries. TechSci Researchs core values are
value, integrity and insight. Led by a team of
dynamic industry experts, TechSci Research
provides its customers with high value market
research and advisory services that helps them
identify new market opportunities, growth
engines and innovative ways to capture the
market share. As a result, TechScis client leads
rather than follow market trends. Not bound by
legacy, TechScis cutting-edge research model
leverages its decades of research knowledge and
an increased use of technology as
6
engines of innovation to deliver unique research
value. Provided as an alternative to traditional
market research, TechSci Research reports do not
just deliver data and knowledge rather
highlights the insights in a more usable and
interactive format for its clients. Contact Mr.
Ken Mathews 708 Third Avenue, Manhattan, NY, New
York 10017 Tel [phone] Email
sales_at_techsciresearch.com Web https//www.techsci
research.com