Market Overview:
The global underwater ROV market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for ROVs from various end-use industries such as science use, military use, educational outreach, broadcast use and hobbyists. Moreover, the increasing adoption of ROVs for deep-sea exploration and trenching & burial applications are also fuelling the growth of the global underwater ROV market.
Product Definition:
An underwater ROV (remotely operated vehicle) is a tethered device that allows operators to view and interact with the environment beneath the water's surface. The importance of underwater ROVs comes from their ability to help humans explore places they cannot go on their own, as well as their capacity for performing tasks in difficult-to-reach areas.
General ROV:
The global General ROV market size was valued at USD 2.5 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The increasing demand for offshore oil & gas exploration, coupled with technological advancements in Underwater Remotely Operated Vehicles (UROV), is anticipated to drive the market growth over the forecast period.
Growing energy demand across various sectors including power generation, marine transportation.
Light Workclass ROV:
Light workclass ROV is a type of remotely operated underwater vehicle (ROV) used for light operations at the surface and lower depths of the water. It is designed to perform tasks that are too difficult or dangerous for conventional subsea vehicles, such as deploying and retrieving scientific instruments, collecting biological samples from offshore oil platforms, or performing maintenance on pipelines.
The market size was valued at USD 1.8 billion in 2016.
Application Insights:
The science use segment dominated the global underwater ROV market in 2017. Science uses include marine research, deep-sea exploration and maintenance. The military use segment is expected to witness significant growth over the forecast period owing to increasing defense activities across countries, such as U.S., China, Russia and India.
Rising demand for undersea exploration for oil & gas extraction from countries including Saudi Arabia, Brazil and Mexico is likely to boost product demand in this application segment over the forecast period. In addition, increasing government initiatives toward deep-water exploration are further anticipated to drive product adoption in this region over the next eight years or so.
Regional Analysis:
North America dominated the global underwater ROV market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period, with a significant increase in demand for military and science use UAVs. The increasing number of science expeditions conducted by marine researchers across North America has significantly increased the adoption rate of these vehicles.
The Asia Pacific underwater ROV market is anticipated to grow at a lucrative rate over the forecast period owing to several factors such as rising government initiatives for marine exploration and development, growing tourism sector,.
Growth Factors:
- Increasing demand for underwater exploration and survey due to growing offshore oil and gas industry.
- Rising popularity of ROVs among commercial and recreational divers for exploring marine life, wrecks, and reefs.
- Growing number of research institutes and universities using ROVs for oceanographic research purposes.
- Increasing use of ROVs in defense applications for mine countermeasures (MCM), anti-submarine warfare (ASW), and intelligence, surveillance, target acquisition & reconnaissance (ISTAR).
Scope Of The Report
Report Attributes
Report Details
Report Title
Underwater ROV Market Research Report
By Type
General ROV, Light Workclass ROV, Heavy Workclass ROV, Trenching & Burial ROV
By Application
Science Use, Military Use, Educational Outreach, Broadcast Use, Hobby Use
By Companies
Oceaneering, Geneinno, PowerVision, Blue Robotics, Deep Trekker, Notilo Plus, Blueye Robotics, Specialist Machine Developments, ROBOSEA, Sofar, Fathom, AQUABOTIX, VideoRay, Chasing
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Underwater ROV Market Report Segments:
The global Underwater ROV market is segmented on the basis of:
Types
General ROV, Light Workclass ROV, Heavy Workclass ROV, Trenching & Burial ROV
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Science Use, Military Use, Educational Outreach, Broadcast Use, Hobby Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Oceaneering
- Geneinno
- PowerVision
- Blue Robotics
- Deep Trekker
- Notilo Plus
- Blueye Robotics
- Specialist Machine Developments
- ROBOSEA
- Sofar
- Fathom
- AQUABOTIX
- VideoRay
- Chasing
Highlights of The Underwater ROV Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- General ROV
- Light Workclass ROV
- Heavy Workclass ROV
- Trenching & Burial ROV
- By Application:
- Science Use
- Military Use
- Educational Outreach
- Broadcast Use
- Hobby Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Underwater ROV Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Underwater ROVs are remotely operated vehicles that can be used to explore and survey underwater environments. They are typically equipped with a variety of sensors, including cameras, sonar, and depth gauges, which allow them to collect data about the environment around them.
Some of the major companies in the underwater rov market are Oceaneering, Geneinno, PowerVision, Blue Robotics, Deep Trekker, Notilo Plus, Blueye Robotics, Specialist Machine Developments, ROBOSEA, Sofar, Fathom, AQUABOTIX, VideoRay, Chasing.
The underwater rov market is expected to register a CAGR of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Underwater ROV Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Underwater ROV Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Underwater ROV Market - Supply Chain
4.5. Global Underwater ROV Market Forecast
4.5.1. Underwater ROV Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Underwater ROV Market Size (000 Units) and Y-o-Y Growth
4.5.3. Underwater ROV Market Absolute $ Opportunity
5. Global Underwater ROV Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Underwater ROV Market Size and Volume Forecast by Type
5.3.1. General ROV
5.3.2. Light Workclass ROV
5.3.3. Heavy Workclass ROV
5.3.4. Trenching & Burial ROV
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Underwater ROV Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Underwater ROV Market Size and Volume Forecast by Application
6.3.1. Science Use
6.3.2. Military Use
6.3.3. Educational Outreach
6.3.4. Broadcast Use
6.3.5. Hobby Use
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Underwater ROV Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Underwater ROV Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Underwater ROV Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Underwater ROV Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Underwater ROV Demand Share Forecast, 2019-2026
9. North America Underwater ROV Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Underwater ROV Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Underwater ROV Market Size and Volume Forecast by Application
9.4.1. Science Use
9.4.2. Military Use
9.4.3. Educational Outreach
9.4.4. Broadcast Use
9.4.5. Hobby Use
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Underwater ROV Market Size and Volume Forecast by Type
9.7.1. General ROV
9.7.2. Light Workclass ROV
9.7.3. Heavy Workclass ROV
9.7.4. Trenching & Burial ROV
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Underwater ROV Demand Share Forecast, 2019-2026
10. Latin America Underwater ROV Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Underwater ROV Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Underwater ROV Market Size and Volume Forecast by Application
10.4.1. Science Use
10.4.2. Military Use
10.4.3. Educational Outreach
10.4.4. Broadcast Use
10.4.5. Hobby Use
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Underwater ROV Market Size and Volume Forecast by Type
10.7.1. General ROV
10.7.2. Light Workclass ROV
10.7.3. Heavy Workclass ROV
10.7.4. Trenching & Burial ROV
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Underwater ROV Demand Share Forecast, 2019-2026
11. Europe Underwater ROV Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Underwater ROV Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Underwater ROV Market Size and Volume Forecast by Application
11.4.1. Science Use
11.4.2. Military Use
11.4.3. Educational Outreach
11.4.4. Broadcast Use
11.4.5. Hobby Use
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Underwater ROV Market Size and Volume Forecast by Type
11.7.1. General ROV
11.7.2. Light Workclass ROV
11.7.3. Heavy Workclass ROV
11.7.4. Trenching & Burial ROV
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Underwater ROV Demand Share, 2019-2026
12. Asia Pacific Underwater ROV Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Underwater ROV Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Underwater ROV Market Size and Volume Forecast by Application
12.4.1. Science Use
12.4.2. Military Use
12.4.3. Educational Outreach
12.4.4. Broadcast Use
12.4.5. Hobby Use
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Underwater ROV Market Size and Volume Forecast by Type
12.7.1. General ROV
12.7.2. Light Workclass ROV
12.7.3. Heavy Workclass ROV
12.7.4. Trenching & Burial ROV
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Underwater ROV Demand Share, 2019-2026
13. Middle East & Africa Underwater ROV Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Underwater ROV Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Underwater ROV Market Size and Volume Forecast by Application
13.4.1. Science Use
13.4.2. Military Use
13.4.3. Educational Outreach
13.4.4. Broadcast Use
13.4.5. Hobby Use
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Underwater ROV Market Size and Volume Forecast by Type
13.7.1. General ROV
13.7.2. Light Workclass ROV
13.7.3. Heavy Workclass ROV
13.7.4. Trenching & Burial ROV
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Underwater ROV Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Underwater ROV Market: Market Share Analysis
14.2. Underwater ROV Distributors and Customers
14.3. Underwater ROV Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Oceaneering
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Geneinno
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. PowerVision
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Blue Robotics
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Deep Trekker
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Notilo Plus
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Blueye Robotics
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Specialist Machine Developments
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ROBOSEA
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Sofar
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Fathom
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. AQUABOTIX
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. VideoRay
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Chasing
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
