Remote Operated Vehicle Market Size - By Class (Work Class ROV, Light Work Class ROV, Observation Class ROV, Micro/Mini ROV), By Application, Global Forecast, 2023

Description

List of Tables

The remote operated vehicle (ROV) market is expected to record over 11.5% CAGR during 2023 and 2032 owing to the rising demand for underwater inspection and maintenance activities in the oil & gas sector. ROVs enable precise and efficient data collection, reducing the need for human divers in hazardous environments.

Moreover, the growing adoption of ROVs in environment monitoring, deep-sea exploration, and offshore renewable energy projects further contributes to the market's upward trajectory. For example, in May 2023, Blueye Robotics was given the contract to supply underwater remotely operated vehicle systems to the Norwegian coast guard. The goal is to give their diving team more eyes below the surface along with existing sensors.

The global remote operated vehicle market is classified based on class, application, and region.

The light work class ROV segment is predicted to witness substantial growth through 2032. These versatile vehicles, equipped with advanced imaging and intervention capabilities, are finding widespread applications in tasks such as pipeline inspection, underwater surveys, and seabed mapping. The light work class ROVs are increasingly valued for their agility and ease of deployment, making them indispensable tools for a diverse range of industries seeking efficient underwater solutions.

The military application segment is anticipated to record strong demand through 2032 as defense forces worldwide recognize the strategic advantages offered by ROVs. These remotely operated vehicles play a crucial role in underwater mine countermeasures, surveillance, and reconnaissance missions. The military's investment in cutting-edge ROV technologies underscores the growing importance of unmanned systems in enhancing national security and maritime defense capabilities.

Europe Remote Operated Vehicle Market will experience robust growth through 2032, driven by technological advancements, increased R&D initiatives, and a growing emphasis on offshore energy exploration. As the European countries are at the forefront of harnessing ROVs for marine research, environmental conservation, and offshore infrastructure maintenance, there are lucrative growth opportunities in the market. The collaborative efforts between industry stakeholders and government agencies further position Europe as a key hub for innovation and adoption of remote operated vehicles.

Product Code: 7380

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Remote operated vehicle market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Class trends
2.5 Application trends

Chapter 3 Remote Operated Vehicle Industry Insights

3.1 Impact of COVID-19
3.2 Industry ecosystem analysis
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Rising investments in remotely operated vehicles
  - 3.8.1.2 Substantial growth in the offshore oil & gas industry
  - 3.8.1.3 Increasing deepwater exploration and production activities
  - 3.8.1.4 Emphasis on marine scientific research
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 High initial costs
  - 3.8.2.2 Technological complexity in operating ROVs
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 Deep Trekker Inc.
- 4.3.2 DOF Subsea
- 4.3.3 Forum Energy Technologies, Inc.
- 4.3.4 Oceaneering International
- 4.3.5 Saab Seaeye Ltd
- 4.3.6 SUBSEA7
- 4.3.7 TechnipFMC plc
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Remote Operated Vehicle Market Estimates & Forecast, By Class (Revenue)

5.1 Key trends, by class
5.2 Work class ROV
5.3 Light work class ROV
5.4 Observation class ROV
5.5 Micro/mini ROV

Chapter 6 Remote Operated Vehicle Market Estimates & Forecast, By Application (Revenue)

6.1 Key trends, by application
6.2 Aquaculture
6.3 Commercial & salvage diving
6.4 Municipal infrastructure
6.5 Military
6.6 Oil & energy
6.7 Others

Chapter 7 Remote Operated Vehicle Market Estimates & Forecast, By Region (Revenue)

7.1 Key trends, by region
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 UK
- 7.3.2 Germany
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Russia
- 7.3.7 Netherlands
- 7.3.8 Nordics
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Southeast Asia
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
7.6 MEA
- 7.6.1 UAE
- 7.6.2 South Africa
- 7.6.3 Saudi Arabia

Chapter 8 Company Profiles

8.1 AC-CESS Co UK Ltd
8.2 Deep Ocean Group
8.3 DOF Subsea
8.4 DOVONEX Inc.
8.5 Forum Energy Technologies
8.6 Fugro
8.7 i-Tech 7
8.8 Kongsberg Maritime
8.9 Oceaneering International
8.10 ROVOP
8.11 Saab Seaeye
8.12 Seatronics
8.13 SMD
8.14 Subsea 7
8.15 TechnipFMC