The "Offshore AUV & ROV – Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Offshore AUV and ROV estimated at US$4.2 billion in the year 2020, is projected to reach a revised size of US$13.4 billion by 2027, growing at a CAGR of 18% over the period 2020 - 2027.
ROV, one of the segments analysed in the report, is projected to grow at a 18.9% CAGR to reach US$8.8 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the AUV segment is readjusted to a revised 16.3% CAGR for the next seven year period. This segment currently accounts for a 37.6% share of the global offshore AUV and ROV market.
The offshore AUV and ROV market in the US is estimated at US$1.2 billion in the year 2020. The country currently accounts for a 29.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.3 billion in the year 2027 trailing a CAGR of 17.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.4% and 15.3% respectively over the 2020 - 2027 period. Within Europe, Germany is forecast to grow at approximately 13% CAGR while Rest of European market (as defined in the study) will reach US$2.3 billion by the year 2027.
The publisher brings years of research experience to this sixth edition of the report. The 143 page report presents concise in-sights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Atlas Elektronik GmbH.
- BIRNS, Inc.
- Bluefin Robotics.
- Fugro N.V. International Submarine Engineering (ISE) Ltd.
- Kongsberg Maritime AS.
- Ocean Engineering (Fire) Ltd.
- Oceaneering International, Inc.
- SAAB AB.
- Teledyne Technologies, Inc.