Market Size of South America AUV & ROV Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America AUV & ROV Market Analysis
The South American AUV and ROV market is expected to register a CAGR of 5.6 % during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.
- Various factors, such as rising oil and gas production activities, growing offshore wind power industry, and increasing oil and gas decommissioning activities, are expected to drive the market during the forecast period.
- On the other hand, countries like Argentina, Chile, Colombia, and Ecuador are planning to increase their focus on climate change. These countries are expected to ban offshore exploration activities in the future, thereby restraining market growth.
- Nevertheless, the rising deepwater and ultra-deepwater discoveries are expected to open up new opportunities for the South American AUV and ROV market.
- During the forecast period, Brazil is expected to dominate the market due to the country's increasing oil and gas activities.
