At CAGR of 16.2%|Offshore ROV & AUV Market: Systeller, Genasun LLC, Luminous India, Studer Innotec, Steca Elektronik GmbH
Global offshore ROV & AUV market is segmented By Class: Observation Class, Work Class, Intervention Class By Size Type: Small AUV, Medium AUV, Large AUV, By Application: Drilling and Well Completion Support, Construction Support, Inspection, Repair and Maintenance Service, Subsea Engineering Service, Remote Subsea Intervention Tooling Design and Build By Depth: Less Than 5,000 Feet, 5,000–10,000 Feet, Above 10,000
ROV (remotely operated vehicle) and AUV (Autonomous Underwater Vehicle) both are robotic type of machine which is used in offshore platform having cameras installed in it
AUV (Autonomous Underwater Vehicle) are used by naval forces to detect radar navigations and mapping of rocks for safety and aware from any threats at sea.
ROV & AUV Market can be varied according to their size and depth up to which it can be reached to different depths at sea shore. ROV & AUV have improved the capabilities of oil and gas offshore industry with raised reliability in the operation of offshore
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Market size and trend
The global offshore ROV & AUV market is expected to grow at a CAGR of 16.2% till the expected forecast period i.e. 2018-2027. Global offshore ROV & AUV market is likely to grow significantly in Asia pacific region (China, Japan, India and rest of Asia Pacific), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World due to the increased government initiatives by these countries.
North America and Asia pacific region is expected to showcase the significant growth in market backed by increase offshore exploration and drilling activities by oil& gas industry. Additionally, demand from navel and marines for security mapping and radar navigation system positively impacts the growth of offshore ROV & AUV market in the forecasted period. Moreover, increased offshore exploration/drilling activities at ultra-deep depth demands for ROV for better image of seabed and maintenance of equipment’s failures.
Factors such as increase in the production of oil and gas in offshore industry directly led the use of ROV & AUV machines and are expected to expand the market in a significant manner.
Discovery of shale gas at a greater depth raise the demand for remotely controlled vehicle where human cannot reach at a greater depth with cameras installed in ROV machine is expanding the offshore ROV & AUV market in the expected forecast period i.e. 2018-2027.
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Offshore drilling and exploration activities will increase their operations and demand for offshore ROV & AUV market at a vibrant rate. Increasing safety concern and threat activities at sea also demanded for AUV technology machines for detecting radars and mapping purpose that can act as a major supporting agent for navels
One of the challenges that restraints the expansion of market is low price of oil and gas at international level that makes operational activity for extracting oil and gas as an uneconomical factor.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global offshore ROV & AUV market which includes company profiling of Systeller, Genasun LLC, Luminous India, Studer Innotec, Steca Elektronik GmbH, Samlex America, Inc, Shenzhen Shuori New Energy Technology Co.,Ltd., Phocos, BEIJING EPSOLAR TECHNOLOGY CO.,LTD, Flin energy. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of global offshore ROV & AUV market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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