Global Offshore AUV & ROV Market Analysis - Market Analysis by Geography, by Technology (AUV and ROV), Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 134 | Published By - Mordor Intelligence

Report Highlights

Oil and gas production is rapidly making a shift to subsea regions. This represents a significant deviation from conventional production methods. Subsea environment is sometimes the most remote and unexplored on earth. Working in this environment makes monitoring and intervention much more difficult and raises unique challenges and often some environmental issues. Harsh environmental conditions has led to the rapid development of Autonomous Underwater Vehicles (AUV) and Remotely Operated Vehicles (ROV) technology. AUVs and ROVs are used for inspection, maintenance and repair of offshore equipment.

Increasing number of offshore wells in harsh environments, escalation in demand for energy and petro chemicals, need for ocean data and mapping and growing capabilities of AUVs and ROVs are some of the factors driving the market. Technological advancements in offshore systems have opened up new frontiers, enabled safer operations and increased the capabilities of AUVs and ROVs.

In offshore sector, technology has increased and upgraded the security of offshore equipment and has met the increasing demands of environmental legislation. Rapid advancements in technology will continue to engineer further growth in Oil & Gas unmanned vehicles sector. Smart devices will enable improved operational management and better risk management. Advanced materials will offer safer operations in difficult environments.

On flipside, an eccentric Oil & Gas market, price constraints and some technological limitations are hindering the growth of market. ROVs have a much bigger and mature market than AUVs but latters market is expected to grow significantly in coming years.

This report comprehensively analyzes the Offshore AUV and ROV market by segmenting it based on geography and technology (AUV and ROV). Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.  
 

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