Global remotely operated vehicle (ROV) market will reach $4.08 billion by 2032, growing by 6.2% annually over 2022-2032, driven by the rising adoption of ROVs in various industry verticals, the growing expenses on oil and gas exploration as well as the increasing naval operations, the technological advancements and innovation, and the growing R&D investment along with government supports. By fleet in operation, the global total units will grow by 8.6% annually over the forecast period.
Highlighted with 92 tables and 119 figures, this 210-page report "Global Remotely Operated Vehicle (ROV) Market 2022-2032 by Component (Hardware, Solutions & Services), Category (New Builds, ROV Upgrade & Operation), Vehicle Type (Observation, Work Class, Towed and Bottom-Crawling), Propulsion System (Hydraulic, Electric, Others), Working Depth (Shallow, Deep, Ultra-Deep), Industry Vertical (Oil & Gas, Military, Research), Application (Drilling, Construction, IRM, SES), and Region: Trend Forecast and Growth Opportunity" is based on a comprehensive research of the entire global remotely operated vehicle (ROV) market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter's Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global remotely operated vehicle (ROV) market in every aspect of the classification from perspectives of Component, Category, Vehicle Type, Propulsion System, Working Depth, Industry Vertical, Application, and Region.
Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Hardware
o Imaging System
o Sensors and Automation System
o Steering and Positioning System
o Navigation System
o Energy and Propulsion System
o Other Hardware
• Solutions & Services
Based on Category, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• ROV New Builds
• ROV Upgrade & Operation
By Vehicle Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) and fleet in operation (units) for 2022-2032 included in each section.
• Observation Vehicle
• Light Work Class Vehicle
• Medium Work Class Vehicle
• Heavy Work Class Vehicle
• Towed and Bottom-Crawling Vehicle
By Propulsion System, the global market is segmented into the following sub-markets with annual revenue ($ mn) and fleet in operation (units) for 2022-2032 included in each section.
• Hydraulic Systems
• Electric Systems
• Other Propulsion Systems
By Working Depth, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Shallow Water
• Deepwater
• Ultra-Deepwater
By Industry Vertical, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Oil & Gas Industry
• Military & Defense
• Scientific Research
• Other Industry Verticals
By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Drilling Support
• Construction Support
• Inspection, Repair and Maintenance (IRM)
• Subsea Engineering Services (SES)
• Other Applications
Geographically, the following regions together with the listed national/local markets are fully investigated:
• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Norway, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Italy, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa, and Rest of MEA)
For each region and country, detailed analysis and data of annual revenue ($ mn) and fleet in operation (units) are available for 2022-2032. The breakdown of all regional markets by country and the breakdown of each national market by Vehicle Type, Industry Vertical, and Application over the forecast years are also included.
The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Bourbon
C-Innovation
DeepOcean AS
DOF Subsea AS
Forum Energy Technologies
Fugro Subsea Services Ltd.
Hallin Marine
Harkand Andrews Survey
Helix Energy Solutions Group Inc.
i-Tech (Subsea 7)
KystDesign
Oceaneering International Inc.
Perry Slingsby Systems
SAAB
Saipem SpA
SchillingRobotics
SMD
TechnipFMC PLC
Teledyne Technologies Incorporated
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
1 Introduction 12
1.1 Industry Definition and Research Scope 12
1.1.1 Industry Definition 12
1.1.2 Research Scope 13
1.2 Research Methodology 16
1.2.1 Overview of Market Research Methodology 16
1.2.2 Market Assumption 17
1.2.3 Secondary Data 17
1.2.4 Primary Data 17
1.2.5 Data Filtration and Model Design 18
1.2.6 Market Size/Share Estimation 19
1.2.7 Research Limitations 20
1.3 Executive Summary 21
2 Market Overview and Dynamics 24
2.1 Market Size and Forecast 24
2.1.1 Impact of COVID-19 on World Economy 27
2.1.2 Impact of COVID-19 on the Market 30
2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 32
2.2 Major Growth Drivers 36
2.3 Market Restraints and Challenges 41
2.4 Emerging Opportunities and Market Trends 44
2.5 Porter's Fiver Forces Analysis 48
3 Segmentation of Global Market by Component 52
3.1 Market Overview by Component 52
3.2 Hardware 54
3.2.1 Imaging System 56
3.2.2 Sensors and Automation System 57
3.2.3 Steering and Positioning System 58
3.2.4 Navigation System 59
3.2.5 Energy and Propulsion System 60
3.2.6 Other Hardware 61
3.3 Solutions & Services 62
4 Segmentation of Global Market by Category 63
4.1 Market Overview by Category 63
4.2 ROV New Builds 65
4.3 ROV Upgrade & Operation 67
5 Segmentation of Global Market by Vehicle Type 69
5.1 Market Overview by Vehicle Type 69
5.2 Observation Vehicle 74
5.3 Light Work Class Vehicle 77
5.4 Medium Work Class Vehicle 79
5.5 Heavy Work Class Vehicle 81
5.6 Towed and Bottom-Crawling Vehicle 83
6 Segmentation of Global Market by Propulsion System 85
6.1 Market Overview by Propulsion System 85
6.2 Hydraulic Systems 88
6.3 Electric Systems 90
6.4 Other Propulsion Systems 92
7 Segmentation of Global Market by Working Depth 94
7.1 Market Overview by Working Depth 94
7.2 Shallow Water 96
7.3 Deepwater 97
7.4 Ultra-Deepwater 98
8 Segmentation of Global Market by Industry Vertical 100
8.1 Market Overview by Industry Vertical 100
8.2 Oil & Gas Industry 102
8.3 Military & Defense 103
8.4 Scientific Research 104
8.5 Other Industry Verticals 105
9 Segmentation of Global Market by Application 106
9.1 Market Overview by Application 106
9.2 Drilling Support 108
9.3 Construction Support 109
9.4 Inspection, Repair and Maintenance (IRM) 110
9.5 Subsea Engineering Services (SES) 111
9.6 Other Applications 112
10 Segmentation of Global Market by Region 113
10.1 Geographic Market Overview 2022-2032 113
10.2 North America Market 2022-2032 by Country 118
10.2.1 Overview of North America Market 118
10.2.2 U.S. 122
10.2.3 Canada 125
10.2.4 Mexico 127
10.3 European Market 2022-2032 by Country 129
10.3.1 Overview of European Market 129
10.3.2 Germany 133
10.3.3 U.K. 135
10.3.4 France 137
10.3.5 Spain 139
10.3.6 Norway 141
10.3.7 Russia 144
10.3.8 Rest of European Market 146
10.4 Asia-Pacific Market 2022-2032 by Country 148
10.4.1 Overview of Asia-Pacific Market 148
10.4.2 Japan 152
10.4.3 China 155
10.4.4 Australia 157
10.4.5 India 159
10.4.6 South Korea 161
10.4.7 Rest of APAC Region 163
10.5 South America Market 2022-2032 by Country 165
10.5.1 Argentina 168
10.5.2 Brazil 170
10.5.3 Chile 172
10.5.4 Rest of South America Market 174
10.6 MEA Market 2022-2032 by Country 175
10.6.1 UAE 178
10.6.2 Saudi Arabia 180
10.6.3 South Africa 182
10.6.4 Other National Markets 184
11 Competitive Landscape 185
11.1 Overview of Key Vendors 185
11.2 New Product Launch, Partnership, Investment, and M&A 189
11.3 Company Profiles 190
Bourbon 190
C-Innovation 192
DeepOcean AS 193
DOF Subsea AS 194
Forum Energy Technologies 195
Fugro Subsea Services Ltd. 196
Hallin Marine 197
Harkand Andrews Survey 198
Helix Energy Solutions Group Inc. 199
i-Tech (Subsea 7) 200
KystDesign 201
Oceaneering International Inc. 202
Perry Slingsby Systems 203
SAAB 204
Saipem SpA 205
SchillingRobotics 206
SMD 207
TechnipFMC PLC 208
Teledyne Technologies Incorporated 209
RELATED REPORTS 210
Executive Summary
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