Offshore AUV, ROV Market to Grow 18.2%

June 11, 2019

© Arjen / Adobe Stock
© Arjen / Adobe Stock

The global market for autonomous underwater vehicles (AUV) and remotely operated vehicles (ROV) is predicted to propel at a robust compound annual growth rate (CAGR) of 18.2% from 2017 to 2025, says a recent industry report.

In 2016, the offshore AUV and ROV market was valued around worth of $2.07 billion, which is foreseen to reach nearly $9.12 billion by the end of 2025, according to a recent report by Transparency Market Research (TMR).

"The global offshore AUV and ROV market is expected to register a consolidated market scenario, led by well-established firms. Owing to advancements in technologies, the key players are banking on gaining an edge over their competitors," said the report.

The electric propulsion system segment in particular accounted for the highest share of global offshore AUV and ROV market in 2016. The rising demand is credited to the factors such as versatility, simplicity in small ROV, low weight, reliability, low noise, and ease of packaging in comparison to mechanical propulsion systems, the report says.

Geographically, the Middle East and Africa accounted for maximum share of 27% of global offshore AUV and ROV market, driven primarily by offshore oil and gas activities. 

Latin America is also expected to see strong growth, the report says. 



Current News

Maersk Drilling Wins Contracts in Mexico

Maersk Drilling Wins Contracts in Mexico

New Cable Layer to Feature Seawater Cooling

New Cable Layer to Feature Seawater Cooling

US Offshore Wind Market Doubles in Size

US Offshore Wind Market Doubles in Size

Eni, IBM Use AI to Boost Data Analysis

Eni, IBM Use AI to Boost Data Analysis

SGRE, Ørsted Firm Up Taiwan OWP Project

SGRE, Ørsted Firm Up Taiwan OWP Project

Subsea Plow Delivered to Global Marine

Subsea Plow Delivered to Global Marine

Brent Bravo Arrives at Able Seaton Port

Brent Bravo Arrives at Able Seaton Port

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week