Offshore ROV Market by Type (Observation, Work, and Intervention), Depth (< 5,000, 5,000–10,000, and >10,000 Feet), Application (Completion, Construction, Repair & Maintenance, Design & Build, and Engineering), AUV & Region - Global Forecast to 2023

  • ID: 4591437
  • Report
  • Region: Global
  • 126 Pages
  • Markets and Markets
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The offshore ROV market is estimated to be USD 802.9 million in 2018 and is projected to reach USD 943.1 million by 2023, at a CAGR of 3.27% from 2018 to 2023.

FEATURED COMPANIES

  • Ac-Cess
  • Deep Ocean Engineering
  • Deepocean
  • DOF Subsea
  • ECA Group
  • Forum Energy Technologies
  • MORE

“The offshore ROV market is projected to grow at a CAGR of 3.27% during the forecast period.”

The offshore ROV market is estimated to be USD 802.9 million in 2018 and is projected to reach USD 943.1 million by 2023, at a CAGR of 3.27% from 2018 to 2023. Rise in the demand for oil & gas is the key factor driving the offshore ROV market. The demand for oil & gas is continuously rising despite environmental pressure and growth of renewable resources. Road transportation accounted for more than 50% of the global demand for oil in 2016. However, the capital-intensive nature of the market can hinder the growth of the offshore ROV market.

“Inspection, Repair and Maintenance Services sub-segment of the application segment is expected to grow at the highest CAGR from 2018 to 2023.”

The Inspection, Repair and Maintenance Services of the application segment is expected to grow at the highest CAGR during the forecast period. The repair and maintenance of ageing offshore well helps to reduce the downtime. Operators also use ROVs for preventive maintenance of various subsea structures to avoid a sudden breakdown. These factors will drive the market of ROVs in this segment.

“South America: The fastest growing market for offshore ROV during the forecast period”

The South American offshore ROV market is the fastest growing market during the forecast period. The rise of offshore ultra-deep-water exploration and production activities and various CAPEX investments by major players in the offshore regions of South America are expected to drive the offshore ROV market in the region during the forecast period.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 35%, Tier 2- 45%, Tier 3- 20%
  • By Designation: C-Level- 35%, Manager-Level- 25%, and Others- 40%
  • By Region: North America – 45%, Europe – 20%, Asia Pacific – 27%, Middle East & Africa – 5%, and South America – 3%

Note: Others includes product managers, marketing managers, and sales managers.
The tier of the companies is defined on the basis of their total revenue as of 2016. Tier 1>USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: <USD 500 million

The leading players in the offshore ROV market include Oceaneering (US), Subsea 7 (UK), Fugro (Netherlands), TechnipFMC (UK), Saipem (Italy), Forum (US), DOF (Norway), ECA (France), Deep Ocean Group (Norway), ISE (Canada), Deep Ocean Engineering (US), and AC-CESS (Scotland).

Research Coverage:

The report defines, describes, and forecasts the global offshore ROV market by type, depth, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the offshore ROV market.

Why buy this report?

  • The report identifies and addresses key markets for offshore ROV, which would help manufacturers review the growth in demand.
  • The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
  • The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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FEATURED COMPANIES

  • Ac-Cess
  • Deep Ocean Engineering
  • Deepocean
  • DOF Subsea
  • ECA Group
  • Forum Energy Technologies
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Regional Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Offshore ROV Market
4.2 Market, By Type/Class
4.3 Market, By Application
4.4 Market, By Depth
4.5 Middle East & Africa: Market, By Country & Type/Class
4.6 Market, By Country

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Offshore Oil & Gas Discoveries in Prominent Countries
5.1.1.2 Rise in Demand for Oil & Gas
5.1.2 Restraints
5.1.2.1 Capital-Intensive Market
5.1.3 Opportunities
5.1.3.1 Arctic Discoveries
5.1.4 Challenges
5.1.4.1 High Operational Risk
5.1.4.2 Lack of Technical Expertise
5.2 Recent Trends
5.2.1 Automated ROV/Smart ROV

6 Offshore ROV Market, By Type/Class
6.1 Introduction
6.2 Observation Class
6.3 Work Class
6.4 Intervention/Inspection Class

7 Offshore ROV Market, By Application
7.1 Introduction
7.2 Drilling and Well Completion Support
7.3 Construction Support
7.4 Inspection, Repair, and Maintenance Service
7.5 Remote Subsea Intervention Tooling Design and Build
7.6 Subsea Engineering Services

8 Offshore ROV Market, By Depth
8.1 Introduction
8.2 Less Than 5,000 Feet
8.3 5,000–10,000 Feet
8.4 Above 10,000 Feet

9 AUV Market, By Type
9.1 Introduction
9.2 Small AUV (Depth Up to 100 M)
9.3 Medium AUV (Depth Up to 1,000 M)
9.4 Large AUV (Depth More Than 1,000 M)

10 Offshore ROV Market, By Region
10.1 Introduction
10.2 Middle East & Africa
10.2.1 By Type/Class
10.2.2 By Application
10.2.3 By Depth
10.2.4 By Country
10.2.4.1 The Kingdom of Saudi Arabia
10.2.4.2 UAE
10.2.4.3 Angola
10.2.4.4 Qatar
10.2.4.5 Rest of Middle East & Africa
10.3 Europe
10.3.1 By Type/Class
10.3.2 By Application
10.3.3 By Depth
10.3.4 By Country
10.3.4.1 Norway
10.3.4.2 UK
10.3.4.3 Russia
10.3.4.4 Rest of Europe
10.4 Asia Pacific
10.4.1 By Type/Class
10.4.2 By Application
10.4.3 By Depth
10.4.4 By Country
10.4.4.1 Thailand
10.4.4.2 China
10.4.4.3 India
10.4.4.4 Australia
10.4.4.5 Rest of Asia Pacific
10.5 South America
10.5.1 By Type/Class
10.5.2 By Application
10.5.3 By Depth
10.5.4 By Country
10.5.4.1 Brazil
10.5.4.2 Trinidad
10.5.4.3 Rest of South America
10.6 North America
10.6.1 By Type/Class
10.6.2 By Application
10.6.3 By Depth
10.6.4 By Country
10.6.4.1 US
10.6.4.2 Canada
10.6.4.3 Mexico

11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Contracts & Agreements
11.3.3 Others

12 Company Profiles
12.1 Competitive Benchmarking
12.2 Oceaneering International
12.3 Subsea 7
12.4 Fugro
12.5 Technipfmc
12.6 Saipem
12.7 Forum Energy Technologies
12.8 DOF Subsea
12.9 ECA Group
12.10 Deepocean
12.11 International Submarine Engineering
12.12 Deep Ocean Engineering
12.13 Ac-Cess

13 Appendix
13.1 Insights From Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details

List of Tables
Table 1 Offshore ROV Market Share Snapshot
Table 2 Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 3 Observation Class: Market Size, By Region, 2016–2023 (USD Million)
Table 4 Work Class: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Intervention/Inspection Class: Market Size, By Region, 2016–2023 (USD Million)
Table 6 Offshore ROV Market Size, By Application, 2016–2023 (USD Million)
Table 7 Drilling and Well Completion Support: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Construction Support: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Inspection, Repair, and Maintenance Service: Market Size, By Region, 2016–2023 (USD Million)
Table 10 Remote Subsea Intervention Tooling Design and Build: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Subsea Engineering Services: Market Size, By Region, 2016–2023 (USD Million)
Table 12 Offshore ROV Market Size, By Depth, 2016–2023 (USD Million)
Table 13 Less Than 5,000 Feet: Market Size, By Region, 2016–2023 (USD Million)
Table 14 5,000–10,000 Feet: Market Size, By Region, 2016–2023 (USD Million)
Table 15 Above 10,000 Feet: Market Size, By Region, 2016–2023 (USD Million)
Table 16 AUV Market Size, By Type, 2016–2023 (USD Million)
Table 17 Offshore ROV Market Size, By Region, 2016–2023 (USD Million)
Table 18 Offshore ROV and AUV Market Size, By Region, 2016–2023 (USD Million)
Table 19 Top Five Largest Countries: Offshore ROV Market Size, 2016–2023 (USD Million)
Table 20 Top Five Fastest Growing Countries: Market, 2016–2023 (USD Million)
Table 21 Largest Market in Every Region: Market Size, 2016–2023 (USD Million)
Table 22 Middle East & Africa: Offshore ROV Market Size, By Country, 2016–2023 (USD Million)
Table 23 Middle East & Africa: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 24 Middle East & Africa: Market Size, By Application 2016–2023 (USD Million)
Table 25 Middle East & Africa: Market Size, By Depth, 2016–2023 (USD Million)
Table 26 The Kingdom of Saudi Arabia: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 27 UAE: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 28 Angola: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 29 Qatar: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 30 Rest of the Middle East & Africa: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 31 Europe: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 32 Europe: Market Size, By Application, 2016–2023 (USD Million)
Table 33 Europe: Market Size, By Depth, 2016–2023 (USD Million)
Table 34 Europe: Market Size, By Country,2016–2023 (USD Million)
Table 35 Norway: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 36 UK: Market Size, By Type/Class,2016–2023 (USD Million)
Table 37 Russia: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 38 Rest of Europe: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 39 Asia Pacific: Offshore ROV Market Size, By Country, 2016–2023 (USD Million)
Table 40 Asia Pacific: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 41 Asia Pacific: Market Size, By Application, 2016–2023 (USD Million)
Table 42 Asia Pacific: Market Size, By Depth, 2016–2023 (USD Million)
Table 43 Thailand: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 44 China: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 45 India: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 46 Australia: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 47 Rest of Asia Pacific: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 48 South America: Offshore ROV, By Type/Class, 2016–2023 (USD Million)
Table 49 South America: Market Size, By Application, 2016–2023 (USD Million)
Table 50 South America: Market Size, By Depth, 2016–2023 (USD Million)
Table 51 South America: Market Size, By Country, 2016–2023 (USD Million)
Table 52 Brazil: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 53 Trinidad: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 54 Rest of Africa: Market Size, By Type/Class, 2016–2023 (USD Million)
Table 55 North America: Offshore ROV Market Size, By Type/Class, 2016–2023 (USD Million)
Table 56 North America: Market Size, By Application, 2016–2023 (USD Million)
Table 57 North America: Market Size, By Depth, 2016–2023 (USD Million)
Table 58 North America: Market Size, By Country, 2016–2023(USD Million)
Table 59 US: Market Size, By Type/Class, 2016–2023(USD Million)
Table 60 Canada: Market Size, By Type/Class, 2016–2023(USD Million)
Table 61 Mexico: Market Size, By Type/Class, 2016–2023(USD Million)
Table 62 Market Development Between 2015 and 2018
Table 63 New Product Launches, 2015–2018
Table 64 Contracts & Agreements, 2015–2018
Table 65 Others, 2015–2018

List of Figures
Figure 1 Markets Covered: Market
Figure 2 Offshore ROV Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Observation Class Segment is Expected to Dominate the Market During the Forecast Period
Figure 8 Drilling and Well Completion Support Segment is Expected to Lead the Market During the Forecast Period
Figure 9 5,000–10,000 Feet Segment is Expected to Dominate the Market During the Forecast Period
Figure 10 The Middle East & Africa Led the Market in 2017
Figure 11 Increasing Offshore Oil & Gas Drilling and Exploration Activities Across the World is Driving the Market During the Forecast Period
Figure 12 Observation Class Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Drilling and Well Completion Support Segment is Expected to Dominate the Market During the Forecast Period
Figure 14 5,000-10,000 Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 The Market in the Kingdom of Saudi Arabia Held the Largest Share of the Market in the Middle East & Africa in 2017
Figure 16 The Market in Brazil is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Offshore ROV: Drivers, Restraints, Opportunities, & Challenges
Figure 18 Energy Consumption By Region
Figure 19 Regional Distribution of Undiscovered Arctic Oil Resources, 2016
Figure 20 The Observation Class Segment is Expected to Dominate the Market During the Forecast Period
Figure 21 The Drilling and Well Completion Support Segment Led the Market in 2017
Figure 22 The 5,000–10,000 Feet Segment is Expected to Dominate the Market During the Forecast Period
Figure 23 AUV Market, By Type, 2017
Figure 24 Regional Snapshot: the Market in South America is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 The Middle East & African Market is Expected to Be the Largest for the Market During the Forecast Period
Figure 26 The Middle East & African Market is Expected to Be the Largest for the Offshore ROV and AUV Market During the Forecast Period
Figure 27 Middle East & Africa Market Snapshot
Figure 28 The Kingdom of Saudi Arabia Led the Market in 2017
Figure 29 Asia Pacific Market Snapshot
Figure 30 Thailand: the Largest Market in Asia Pacific, 2017
Figure 31 Brazil is Expected to Hold the Largest Market Share in the South American Market
Figure 32 Key Developments in the Market, 2015–2018
Figure 33 Oceaneering Led the Market in 2017
Figure 34 Benchmarking of Top 6 Players
Figure 35 Oceaneering International: Company Snapshot
Figure 36 Subsea 7: Company Snapshot
Figure 37 Fugro: Company Snapshot
Figure 38 Technipfmc: Company Snapshot
Figure 39 Saipem: Company Snapshot
Figure 40 Forum Energy Technologies: Company Snapshot
Figure 41 DOF Subsea: Company Snapshot
Figure 42 ECA Group: Company Snapshot

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  • Oceaneering International
  • Subsea 7
  • Fugro
  • Technipfmc
  • Saipem
  • Forum Energy Technologies
  • DOF Subsea
  • ECA Group
  • Deepocean
  • International Submarine Engineering
  • Deep Ocean Engineering
  • Ac-Cess
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