Market Size of Asia-Pacific AUV Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC AUV Market Analysis
The Asia-Pacific AUV market is projected to register a CAGR of 5.5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.
- Over the long term, factors such as the rising offshore oil and gas production activities and the growing offshore wind power industry are expected to drive the AUV market during the forecast period.
- On the other hand, various countries such as Vietnam and the Philippines are planning to increase their focus on climate change and ban offshore exploration activities in the future, which is expected to restrain the market growth.
- Nevertheless, the rising deepwater and ultra-deepwater discoveries are expected to open up new opportunities for the Asia-Pacific AUV market during the forecast period.
- China is expected to witness significant growth. With rising oil and gas investments, especially in the upstream sector, it is expected to dominate the market.
