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. The market is
set to grow due to increasing offshore oil & gas discoveries in prominent
countries and rise in demand for oil & gas.
The offshore ROV market has been segmented, by
application, into Drilling and Well Completion Support, Construction Support,
Inspection Repair & Maintenance Services, Remote Subsea Intervention
Tooling Design and Build, and Subsea Engineering Services. The Drilling and
Well Completion Support segment is estimated to hold the largest market share
by 2023. The market growth in the segment is driven by the increasing deep
water offshore activities in Angola and ultradeep water in Brazil.
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Middle East & Africa
expected to be the largest market for offshore ROV during the forecast
period.
The Middle East & Africa is expected to dominate the
offshore ROV market during the forecast period. The rise in offshore deep and ultra-deep
water activities is driving the offshore ROV market in the Middle East &
Africa region. The increasing activities of offshore exploration and production
in countries such as Angola, UAE, Nigeria, etc. will drive the offshore ROV
market in the Middle East & Africa region.
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) are the key players in the market.
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