Market Size of Offshore AUV And ROV Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 2.63 Billion |
| Market Size (2029) | USD 3.81 Billion |
| CAGR (2024 - 2029) | 7.69 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Offshore AUV And ROV Market Analysis
The Offshore AUV And ROV Market size is estimated at USD 2.63 billion in 2024, and is expected to reach USD 3.81 billion by 2029, growing at a CAGR of 7.69% during the forecast period (2024-2029).
- Over the medium term, factors such as rising offshore oil and gas production activities, growing offshore wind power industry, and increasing oil and gas decommissioning activities are expected to drive the offshore AUV and ROV market during the forecast period.
- On the other hand, countries planning to increase their focus on climate change and banning offshore exploration activities in the future are expected to restrain market growth.
- Nevertheless, innovation and technological advancement are expected to increase the utilization of AUVs and ROVs in offshore activities in industries such as oil and gas, offshore wind, research, etc. The technological advancements in AUVs and ROVs are expected to offer a considerable opportunity for companies in the long term.
- North America is expected to witness significant growth, with the majority of the demand coming from countries such as the United States and Mexico.
