| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 2.57 Billion |
| Market Size (2030) | USD 3.72 Billion |
| CAGR (2025 - 2030) | 7.65% |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
ROV Market Analysis by Mordor Intelligence
The ROV Market size is estimated at USD 2.57 billion in 2025, and is expected to reach USD 3.72 billion by 2030, at a CAGR of 7.65% during the forecast period (2025-2030).
- Increasing offshore oil and gas exploration activities in the Americas, Asia-Pacific, and Middle East and Africa and growing offshore renewable technologies are expected to drive the ROV market during the forecast period.
- On the other hand, the ban on offshore exploration and production activities in multiple regions is expected to restrain the market.
- However, the ongoing deepwater and ultra-deepwater oil and gas discoveries and shale gas explorations are expected to create huge opportunities for ROV deployment over the forecast period.
- North America dominated the market worldwide, with most of the demand coming from the United States and Mexico. North America is still leading the world with its advanced, highly maneuverable ROV development.
Global ROV Market Trends and Insights
The Oil & Gas Application Segment is Expected to Dominate the Market
- The dependence on oil and gas increases as major economies globally still rely heavily on petroleum-based products. The oil and gas industry displays immense influence in international politics and economics.
- According to the Statistical Review of World Energy Data, global oil production in 2022 was 99,877 thousand barrels per day, an increase of 11.1% over the previous year. The increase in global population reflected an increase in primary energy consumption, which stood at 604.04 exajoules in 2022, up from 520.90 exajoules in 2011.
- According to the Organization of the Petroleum Exporting Countries (OPEC), in 2023, the global demand for crude oil (including biofuels) amounted to 102.21 million barrels per day. The source expects economic activity and related oil demand to pick up by the end of the year, with the projections suggesting an increase of more than 104 million barrels per day.
- Many potential global reserves of hydrocarbons lie beneath the sea, and the hydrocarbon industry has developed techniques suited to the conditions found in offshore sites to find and produce oil and gas successfully. Oil and gas drilling rigs may operate in up to two miles of water depth. Many deepwater wells and pipeline systems rely on unmanned underwater vehicles to help perform installations, inspections, repairs, and maintenance.
- Over the past few years, remotely operated vehicles (ROV) have evolved from emerging technology with niche uses to extensive applications in the oil and gas sector.
- Capital expenditure in the offshore industry is also increasing significantly worldwide, thus boosting the demand for various advanced technologies, tools, and equipment to perform certain activities. These tools include the ROVs, as they ease the maintenance and inspection work in the offshore sector. Several oil and gas companies are investing in ROVs to support subsea surveys.
- For instance, in August 2023, Energean awarded a five-year ROV support contract to Aberdeen-based ROVOP, a global supplier of remotely operated vehicles (ROVs) and services. The company will deploy its ROVs onboard Energean’s field support vessel, Energean Star, a converted platform supply vessel.
- Technological advancements in ROVs make their operations easier and more efficient, thus boosting their demand in the oil and gas industry.
- Overall, the demand for ROVs is expected to increase during the forecast period due to the rapidly growing offshore oil, gas, and energy operations. There have been several improvements in the technologies associated with remote-operated offshore vehicles.
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North America is Expected to Dominate the Market
- The region has one of the most well-developed offshore oil and gas industries globally, with the primary areas of focus being the vast reserves in the Gulf of Mexico and the offshore Alaska region. With the drilling depths increasing over the years, the volume of technically recoverable reserves has also increased significantly, thus attracting more investments.
- As the United States invested heavily in expanding its oil and gas production capacity, the Gulf of Mexico has become a global hotspot for ROV demand. According to the US Energy Information Administration, in 2022, oil and natural gas production in the Federal Offshore Gulf of Mexico accounted for about 15% of total US crude oil production. The region has one of the highest global densities of offshore rig deployment. It comprises other oil and gas infrastructure, such as production and drilling platforms, marine vessels, and pipeline networks.
- The United States spends the most globally on its defense budget and has pioneered R&D on ROV vessels. In May 2023, the US Navy announced its plans to invest up to USD 5.1 billion in high-tech vessels that would patrol the deepest reaches of the ocean and deploy mini-subs and drones. Such types of investments are expected to drive the ROV market in North America.
- As ROV technology has become increasingly affordable, oil and gas producers in the United States are investing in ROV services to obtain data and perform routine maintenance work on subsea assets and surfaces. Despite the higher upfront cost compared to diving crews, ROVs need less time to complete the same amount of work, which reduces overall project OPEX.
- In May 2024, Edison Chouest, a US offshore services company, acquired Aberdeen-based remotely operated vehicle provider ROVOP. The deal will likely boost the company’s fleet to over 100 ROVs and six autonomous underwater vehicles. Such activities in the industry are expected to reduce costs and increase ROV reliability.
- Thus, the ROV industry in North America is highly developed. As demand increases for marine construction and oil and gas services, the industry is expected to keep growing fast during the forecast period, thereby driving the demand for ROVs in the region.
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Competitive Landscape
The ROV market is semi-fragmented. Some of the major players in the market (in no particular order) include DeepOcean AS, DOF Subsea AS, Oceaneering International Inc., Helix Energy Solutions Group Inc., and TechnipFMC PLC.
ROV Industry Leaders
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DeepOcean AS
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DOF Subsea AS
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Oceaneering International Inc.
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TechnipFMC PLC
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Helix Energy Solutions Group Inc.
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- April 2024: Forssea Robotics, a French company, introduced its remotely operated vehicle (ROV) ARGOS-X. The vehicle is developed for integration with uncrewed surface vessels and shallow water deployments.
- January 2024: Solstad Offshore expanded its fleet offering by equipping six more subsea construction vessels with remotely operated vehicles (ROVs). The company also signed an agreement with Omega Subsea to improve its management and hire personnel to operate the ROV systems on board the vessels.
- May 2023: Blueye Robotics, a professional deepwater design, operating, and service provider, received contracts from the Norwegian Coast Guard to provide new ROV systems.
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Global ROV Market Report Scope
A remotely operated vehicle (ROV) is an unoccupied robot, a highly maneuverable underwater machine attached to a series of cables that can explore ocean depths. These cables convey command and control signals between the operator and the ROV, allowing remote vehicle navigation.
The ROV market is segmented by type, application, activity, and geography. By type, the market is segmented into work-class ROVs and observatory-class ROVs. The market is segmented by application into oil and gas, defense, and other applications. By activity, the market is segmented into survey, inspection, repair, and maintenance, burial and trenching, and other activities. The report also covers the market size and forecasts for the ROV market across major regions.
For each segment, the market sizing and forecasts have been done based on revenue (USD).
Type
| Work Class ROV |
| Observatory Class ROV |
Application
| Oil and Gas |
| Defense |
| Other Applications |
| Deep Sea Marine Exploration |
Activity
| Survey |
| Inspection, Repair, and Maintenance |
| Burial and Trenching |
| Other Activities |
Geography
| North America | United States |
| Canada | |
| Rest of North America | |
| Europe | Germany |
| Denmark | |
| Norway | |
| United Kingdom | |
| Italy | |
| NORDIC | |
| Russia | |
| France | |
| Turkey | |
| Rest of Europe | |
| Asia-Pacific | China |
| India | |
| Japan | |
| Australia | |
| Thailand | |
| Malaysia | |
| Indonesia | |
| Vietnam | |
| Rest of Asia-Pacific | |
| South America | Brazil |
| Argentina | |
| Colombia | |
| Rest of South America | |
| Middle East and Africa | Saudi Arabia |
| United Arab Emirates | |
| Nigeria | |
| South Africa | |
| Qatar | |
| Egypt | |
| Rest of Middle East and Africa |
| Type | Work Class ROV | |
| Observatory Class ROV | ||
| Application | Oil and Gas | |
| Defense | ||
| Other Applications | ||
| Deep Sea Marine Exploration | ||
| Activity | Survey | |
| Inspection, Repair, and Maintenance | ||
| Burial and Trenching | ||
| Other Activities | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Europe | Germany | |
| Denmark | ||
| Norway | ||
| United Kingdom | ||
| Italy | ||
| NORDIC | ||
| Russia | ||
| France | ||
| Turkey | ||
| Rest of Europe | ||
| Asia-Pacific | China | |
| India | ||
| Japan | ||
| Australia | ||
| Thailand | ||
| Malaysia | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| South America | Brazil | |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| Middle East and Africa | Saudi Arabia | |
| United Arab Emirates | ||
| Nigeria | ||
| South Africa | ||
| Qatar | ||
| Egypt | ||
| Rest of Middle East and Africa | ||
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Key Questions Answered in the Report
How big is the ROV Market?
The ROV Market size is expected to reach USD 2.57 billion in 2025 and grow at a CAGR of 7.65% to reach USD 3.72 billion by 2030.
What is the current ROV Market size?
In 2025, the ROV Market size is expected to reach USD 2.57 billion.
Who are the key players in ROV Market?
DeepOcean AS, DOF Subsea AS, Oceaneering International Inc., TechnipFMC PLC and Helix Energy Solutions Group Inc. are the major companies operating in the ROV Market.
Which is the fastest growing region in ROV Market?
North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in ROV Market?
In 2025, the North America accounts for the largest market share in ROV Market.
What years does this ROV Market cover, and what was the market size in 2024?
In 2024, the ROV Market size was estimated at USD 2.37 billion. The report covers the ROV Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the ROV Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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ROV Market Report
Statistics for the 2025 ROV market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. ROV analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
