Market Size of Middle-East and Africa AUV & ROV Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA AUV & ROV Market Analysis
The Middle East & Africa AUV and ROV market is expected to register a CAGR of 4.6 % during the forecast period.
The COVID-19 pandemic negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.
- Rising oil and gas production activities, along with increasing oil and gas decommissioning activities in various Middle Eastern and African countries, such as Saudi Arabia, United Arab Emirates, Oman, Ghana, and Ivory Coast, are expected to drive the market during the forecast period.
- On the other hand, the declining number of offshore rigs and offshore oil and gas activities in the Persian Gulf Basin is expected to restrain the market.
- Nevertheless, the ongoing deepwater and ultra-deepwater oil and gas discoveries and shale gas explorations are expected to create enormous opportunities for the Middle East and Africa AUV and ROV market during the forecast period.
- Due to increasing oil and gas activities across the country, Saudi Arabia is expected to dominate the market during the forecast period.
