Market Size of Europe AUV Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe AUV Market Analysis
The European AUV market is projected to register a CAGR of over 6.9% during the forecast period.
The COVID-19 pandemic negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
- Factors such as rising oil and gas production activities, growing offshore wind power electricity generation, and increasing oil and gas decommissioning activities are expected to drive the AUV market during the forecast period.
- On the other hand, countries planning to increase their focus on climate change and ban offshore exploration activities are expected to hinder market growth.
- Nevertheless, the rising deepwater and ultra-deepwater discoveries are expected to open up new opportunities for the European AUV market.
- With rising oil and gas investments, especially in the upstream sector, Norway is expected to witness significant growth and dominate the market.
