Market Overview:
The global work class ROVs market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for work class ROVs in the oil & gas industry, scientific research, military & defense and other applications. North America is expected to lead the global work class ROVs market during the forecast period followed by Europe and Asia Pacific.
Product Definition:
Work class ROVs are used to carry out tasks that are too difficult or dangerous for human divers. They can be used to inspect pipelines and other underwater infrastructure, collect data, and even recover objects from the seafloor. Work class ROVs are important for safety and efficiency in underwater operations.
Oil & Gas Industry:
The oil and gas industry is a source of energy that is used for the production of transportation fuels, power, and liquid fuels. The global demand for oil has been increasing steadily over the past few years on account of growing population coupled with rising per capita income in developing economies such as China, India, Brazil and Mexico. This trend is expected to continue over the forecast period owing to rapid industrialization in these countries.
Scientific Research:
Scientific research and it's usage in Work Class ROVs market? Scientific research is the systematic study to explore facts and develop new knowledge. It includes both basic and applied scientific studies. It also helps in gaining new insights into existing problems or puzzles by using logical reasoning, observation, testing, experimentation, modeling & simulation or some other method.
Application Insights:
The global work class ROV market is segmented by application into drilling support, construction support, inspection, repair and maintenance (IRM), others and regional segments including North America, Latin America, Europe Asia Pacific Middle East & Africa. The DRilling Support segment dominated the overall market in 2017 owing to the rising number of oil & gas wells being drilled worldwide. This has resulted in an increased demand for ROVs for this purpose. Furthermore, a rise in exploration activities is expected to boost product demand over the forecast period.
The Construction Support application segment was valued at USD 1.5 billion in 2017 owing to an increase in offshore projects particularly across emerging economies such as India.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of work class ROVs manufacturers, which makes it a key revenue generator for the industry. China, South Korea, Japan and India are some of the major countries that dominate this regional market owing to their large-scale deployment in various industries such as oil & gas exploration & production; scientific research; military & defense; and others.
The Asia Pacific regional market is anticipated to be driven by rising demand from countries such as China, India, Australia and Singapore among others. Countries like these have been experiencing strong economic growth due to which there has been an increase in infrastructure development activities carried out underwater for civil engineering projects such as hydroelectric power plants etc., thereby driving product demand across this region.
Growth Factors:
- Increasing demand for oil and gas due to growing population and industrialization
- Rising investments in offshore drilling activities
- Proliferation of deepwater and ultra-deepwater exploration projects
- Growing popularity of Work Class ROVs among small to medium sized oilfield service companies
- Technological advancements that improve the performance, efficiency, and safety of Work Class ROVs
Scope Of The Report
Report Attributes
Report Details
Report Title
Work Class ROVs Market Research Report
By Type
Oil & Gas Industry, Scientific Research, Military & Defense, Others
By Application
Drilling Support, Construction Support, Inspection, Repair and Maintenance (IRM), Others
By Companies
Oceaneering, Triton Group, Perry Slingsby Systems (PSS), SMD, Schilling Robotics
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
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Work Class ROVs Market Report Segments:
The global Work Class ROVs market is segmented on the basis of:
Types
Oil & Gas Industry, Scientific Research, Military & Defense, Others
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
Drilling Support, Construction Support, Inspection, Repair and Maintenance (IRM), Others
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
- Triton Group
- Perry Slingsby Systems (PSS)
- SMD
- Schilling Robotics
Highlights of The Work Class ROVs 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:
- Oil & Gas Industry
- Scientific Research
- Military & Defense
- Others
- By Application:
- Drilling Support
- Construction Support
- Inspection, Repair and Maintenance (IRM)
- Others
- 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 Work Class ROVs 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?
Work Class ROVs are Remote Operated Vehicles (ROVs) that are designed for use in underwater work environments. They typically have a longer range and greater capacity than traditional ROVs, making them better suited for tasks such as inspecting pipelines or performing maintenance on offshore platforms.
Some of the major players in the work class rovs market are Oceaneering, Triton Group, Perry Slingsby Systems (PSS), SMD, Schilling Robotics.
The work class rovs market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Work Class ROVs 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. Work Class ROVs Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Work Class ROVs Market - Supply Chain
4.5. Global Work Class ROVs Market Forecast
4.5.1. Work Class ROVs Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Work Class ROVs Market Size (000 Units) and Y-o-Y Growth
4.5.3. Work Class ROVs Market Absolute $ Opportunity
5. Global Work Class ROVs 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. Work Class ROVs Market Size and Volume Forecast by Type
5.3.1. Oil & Gas Industry
5.3.2. Scientific Research
5.3.3. Military & Defense
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Work Class ROVs 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. Work Class ROVs Market Size and Volume Forecast by Application
6.3.1. Drilling Support
6.3.2. Construction Support
6.3.3. Inspection, Repair and Maintenance (IRM)
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Work Class ROVs 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. Work Class ROVs 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 Work Class ROVs 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. Work Class ROVs 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 Work Class ROVs Demand Share Forecast, 2019-2026
9. North America Work Class ROVs 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 Work Class ROVs 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 Work Class ROVs Market Size and Volume Forecast by Application
9.4.1. Drilling Support
9.4.2. Construction Support
9.4.3. Inspection, Repair and Maintenance (IRM)
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Work Class ROVs Market Size and Volume Forecast by Type
9.7.1. Oil & Gas Industry
9.7.2. Scientific Research
9.7.3. Military & Defense
9.7.4. Others
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 Work Class ROVs Demand Share Forecast, 2019-2026
10. Latin America Work Class ROVs 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 Work Class ROVs 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 Work Class ROVs Market Size and Volume Forecast by Application
10.4.1. Drilling Support
10.4.2. Construction Support
10.4.3. Inspection, Repair and Maintenance (IRM)
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Work Class ROVs Market Size and Volume Forecast by Type
10.7.1. Oil & Gas Industry
10.7.2. Scientific Research
10.7.3. Military & Defense
10.7.4. Others
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 Work Class ROVs Demand Share Forecast, 2019-2026
11. Europe Work Class ROVs 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 Work Class ROVs 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 Work Class ROVs Market Size and Volume Forecast by Application
11.4.1. Drilling Support
11.4.2. Construction Support
11.4.3. Inspection, Repair and Maintenance (IRM)
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Work Class ROVs Market Size and Volume Forecast by Type
11.7.1. Oil & Gas Industry
11.7.2. Scientific Research
11.7.3. Military & Defense
11.7.4. Others
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 Work Class ROVs Demand Share, 2019-2026
12. Asia Pacific Work Class ROVs 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 Work Class ROVs 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 Work Class ROVs Market Size and Volume Forecast by Application
12.4.1. Drilling Support
12.4.2. Construction Support
12.4.3. Inspection, Repair and Maintenance (IRM)
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Work Class ROVs Market Size and Volume Forecast by Type
12.7.1. Oil & Gas Industry
12.7.2. Scientific Research
12.7.3. Military & Defense
12.7.4. Others
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 Work Class ROVs Demand Share, 2019-2026
13. Middle East & Africa Work Class ROVs 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 Work Class ROVs 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 Work Class ROVs Market Size and Volume Forecast by Application
13.4.1. Drilling Support
13.4.2. Construction Support
13.4.3. Inspection, Repair and Maintenance (IRM)
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Work Class ROVs Market Size and Volume Forecast by Type
13.7.1. Oil & Gas Industry
13.7.2. Scientific Research
13.7.3. Military & Defense
13.7.4. Others
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 Work Class ROVs Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Work Class ROVs Market: Market Share Analysis
14.2. Work Class ROVs Distributors and Customers
14.3. Work Class ROVs 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. Triton Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Perry Slingsby Systems (PSS)
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. SMD
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Schilling Robotics
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
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
