Jul 7, 2020   SOURCE: BusinessWire

Global Offshore AUV & ROV Market Projected to Reach $13.4 Billion by 2027 (COVID-19 Revised) - ResearchAndMarkets.com

The "Offshore AUV & ROV - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Offshore AUV and ROV Market to Reach US$13.4 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Offshore AUV and ROV estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$13.4 Billion by 2027, growing at a CAGR of 18% over the period 2020-2027.

ROV, one of the segments analyzed in the report, is projected to grow at a 18.9% CAGR to reach US$8.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the AUV segment is readjusted to a revised 16.3% CAGR for the next 7-year period. This segment currently accounts for a 37.6% share of the global Offshore AUV and ROV market.

The U. S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 17.2% CAGR for the Period of 2020-2027

The Offshore AUV and ROV market in the U. S. is estimated at US$1.2 Billion in the year 2020. The country currently accounts for a 29.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.3 Billion in the year 2027 trailing a CAGR of 17.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.4% and 15.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13% CAGR while Rest of European market (as defined in the study) will reach US$2.3 Billion by the year 2027.

The publisher brings years of research experience to this 6th edition of the report. The 143-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:

  • Atlas Elektronik GmbH
  • BIRNS, Inc.
  • Bluefin Robotics
  • Fugro N.V.
  • International Submarine Engineering (ISE) Ltd.
  • Kongsberg Maritime AS
  • Ocean Engineering (Fire) Ltd.
  • Oceaneering International, Inc.
  • SAAB AB
  • Subsea 7 SA
  • Teledyne Technologies, Inc.

Total Companies Profiled: 41

For more information about this report visit https://www.researchandmarkets.com/r/yfizhg