Global Remotely Operated Vehicle (ROV) Market by Industry Vertical, Application, Hardware Component, Vehicle Type, Propulsion System and Region 2017-2025
- Report ID: 3644
- Date: Sep, 2021
- Pages: 194
- Category: ICT & Media
Remotely Operated Vehicles (ROVs) are unoccupied underwater robots, connected to an operator via a series of cables which transmit command and control signals to and from the underwater vehicle and the operator, allowing remote navigation of the vehicles. The evolution of ROV technology has resulted in the ever-growing application in oil & gas industry, military/defense, scientific research and other sectors. Global total Capex (capital expenditure) of ROVs in 2025 will advance to $5.15 billion. This represents a continuous XX% increase yearly between 2016 and 2025 and a cumulative Capex of $XXX billion during 2017-2025 driven by the substantial adoption of ROVs for drilling support, construction support, as well as inspection, repair and maintenance (IRM) activities.
Highlighted with 47 tables and 57 figures, this 194-page report “Global Remotely Operated Vehicle (ROV) Market 2017-2025 by Industry Vertical, Application, Hardware Component, Vehicle Type, Propulsion System and Region” is based on a comprehensive research of the ROVs market by analyzing the entire global market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain.
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The report also quantifies global ROVs market in every aspect of the classification from perspectives of industry vertical, application, new built and operation/service, hardware component, vehicle type, propulsion system and region.
Based on industry vertical, the global ROV market is segmented into the following sub-markets with annual capex included for 2014-2025 (historical and forecast) for each section.
• Oil & Gas Industry
• Scientific Research
• Military & Defense
• Others
Based on application, the global work-class ROV market is segmented into the following sub-markets with annual capex included for 2014-2025 (historical and forecast) for each section.
• Drilling Support
• Construction Support
• Inspection, Repair and Maintenance (IRM)
• Others
Based on capex source, the global market is analyzed on the following segments with annual capex in 2014-2025 provided for each segment.
• ROV New Builds
• ROV Operation & Service
Based on system component, the global ROV hardware market is divided and analyzed on the following segments in terms of capex for 2014-2025.
• Imaging System
• Sensors and Automation Systems
• Steering and Positioning
• Navigation System
• Energy and Propulsion
• Others
Based on vehicle type, the global ROV market is split and analyzed on the following sections in terms of annual capex and fleet in operation for 2014-2025.
• Observation Vehicle
• Light Work Class Vehicle
• Medium Work Class Vehicle
• Heavy Work Class Vehicle
• Towed and Bottom-Crawling Vehicle
Based on propulsion system, the global ROV market is segmented into the following sections and analyzed in terms of annual capex and operational fleet for 2014-2025.
• Hydraulic system
• Electric system
• Others
Geographically, the following regions together with the listed national markets are fully investigated:
• APAC (China, Malaysia, Australia, India, and Rest of APAC)
• Europe (Norway, UK, Rest of Europe)
• North America (U.S. and Canada)
• Latin America (Argentina, Brazil, Mexico, Rest of Latin America)
• Africa (Nigeria, Angola)
• Middle East
For each of the aforementioned regions and countries, detailed analysis and data for annual capex are available for 2014-2025. The breakdown of all regional markets and national markets by industry vertical and vehicle type over the forecast years is included.
The report also covers current competitive scenario and the predicted manufacture trend; and profiles global ROV vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in global ROVs market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.
Key Players:
Andrews Survey
C-Innovation
DOF Subsea AS
Forum Energy Technologies
Fugro Subsea Services Ltd
Hallin Marine Subsea International PLC
Helix Energy Solutions
i-Tech (Subsea 7)
Kystdesign AS
Oceaneering International, Inc.
Perry Slingsby Systems Limited
SAAB SEAEYE LTD.
Saipem (Sonsub)
Schilling Robotics, LLC
Soil Machine Dynamics Ltd (SMD) "
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 10
1.2.1 Overview of Market Research Methodology 10
1.2.2 Market Assumption 11
1.2.3 Secondary Data 11
1.2.4 Primary Data 11
1.2.5 Data Filtration and Model Design 12
1.2.6 Market Size/Share Estimation 13
1.2.7 Research Limitations 14
1.3 Executive Summary 15
2 Market Overview and Qualitative Analysis 17
2.1 Market Size and Forecast 17
2.2 Market Structure 19
2.3 Major Growth Drivers 20
2.4 Market Restraints and Challenges 23
2.5 Emerging Opportunities and Market Trends 26
2.6 Porter’s Fiver Forces Analysis 29
3 Analysis of Global Market by Industry Vertical 33
3.1 Market Overview by Industry Vertical 33
3.2 ROVs for Oil & Gas Industry: Global Market 2014-2025 35
3.3 ROVs for Scientific Research: Global Market 2014-2025 38
3.4 ROVs for Military & Defense: Global Market 2014-2025 41
3.5 ROVs for Other Industry Verticals: Global Market 2014-2025 44
4 Analysis of Global Market by New Builds and Operation & Service 46
4.1 Market Overview by New Builds and Operation & Service 46
4.2 ROV New Builds 48
4.3 ROV Operation & Service 50
5 Analysis of Global Market by Hardware Component 53
5.1 Market Overview by Hardware Component 53
5.2 Imaging System 55
5.3 Sensors and Automation Systems 57
5.4 Steering and Positioning 58
5.5 Navigation System 59
5.6 Energy and Propulsion 60
5.7 Other Hardware Components 61
6 Analysis of Global Market by Vehicle Type 62
6.1 Market Overview by Vehicle Type 62
6.2 Observation Vehicle 68
6.3 Light Work-Class Vehicle 72
6.4 Medium Work-Class Vehicle 76
6.5 Heavy Work-Class Vehicle 79
6.6 Towed and Bottom-Crawling Vehicle 83
7 Analysis of Global Work-Class ROVs Market by Application 86
7.1 Market Overview by Application 86
7.2 Drilling Support 90
7.3 Construction Support 92
7.4 Inspection, Repair and Maintenance (IRM) 94
7.5 Other Applications 96
8 Analysis of Global Market by Propulsion System 98
8.1 Market Overview by Propulsion System 98
8.2 Hydraulic System 101
8.3 Electric System 103
8.4 Other Systems 105
9 Analysis of Global Market by Region 107
9.1 Geographic Market Overview by Region 2016-2025 107
9.2 North America Market 2014-2025 111
9.2.1 Overview of North America Market 111
9.2.2 U.S. Market 114
9.2.3 Canadian Market 116
9.3 European Market 2014-2025 118
9.3.1 Overview of European Market 118
9.3.2 Norway 121
9.3.3 UK 123
9.3.4 Rest of European Market 125
9.4 Asia-Pacific Market 2014-2025 126
9.4.1 Overview of Asia-Pacific Market 126
9.4.2 China 130
9.4.3 Malaysia 132
9.4.4 Australia 134
9.4.5 India 136
9.4.6 Rest of APAC Region 138
9.5 Latin America Market 2014-2025 139
9.5.1 Argentina 142
9.5.2 Brazil 144
9.5.3 Mexico 147
9.5.4 Rest of Latin America Market 149
9.6 Africa Market 2014-2025 150
9.6.1 Nigeria 153
9.6.2 Angola 155
9.6.3 Rest of Africa Market 157
9.7 Middle East Market 2014-2025 158
10 Competitive Landscape 159
10.1 Overview of Global Vendors 159
10.2 Company Profiles 163
11 Investing in Global Market: Risk Assessment and Management 188
11.1 Risk Evaluation of Global Market 188
11.2 Critical Success Factors (CSFs) 191
RELATED REPORTS AND PRODUCTS 194
List of Tables
Table 1. Snapshot of Global ROVs Market, 2016-2025 16Table 2. Main Product Trends and Market Opportunities in Global ROVs Market 26
Table 3. Classifications of ROVs by Type 63
Table 4. Leading National ROVs Markets by Capex, 2016 and 2025, $ mn 108
Table 5. North America ROVs Market by Industry Vertical, 2016-2025, $ mn 112
Table 6. North America ROVs Market by Vehicle Type, 2016-2025, $ mn 112
Table 7. U.S. ROVs Market by Industry Vertical, 2016-2025, $ mn 115
Table 8. U.S. ROVs Market by Vehicle Type, 2016-2025, $ mn 115
Table 9. Canada ROVs Market by Industry Vertical, 2016-2025, $ mn 117
Table 10. Canada ROVs Market by Vehicle Type, 2016-2025, $ mn 117
Table 11. Europe ROVs Market by Industry Vertical, 2016-2025, $ mn 119
Table 12. Europe ROVs Market by Vehicle Type, 2016-2025, $ mn 119
Table 13. Norway ROVs Market by Industry Vertical, 2016-2025, $ mn 122
Table 14. Norway ROVs Market by Vehicle Type, 2016-2025, $ mn 122
Table 15. UK ROVs Market by Industry Vertical, 2016-2025, $ mn 124
Table 16. UK ROVs Market by Vehicle Type, 2016-2025, $ mn 124
Table 17. APAC ROVs Market by Industry Vertical, 2016-2025, $ mn 127
Table 18. APAC ROVs Market by Vehicle Type, 2016-2025, $ mn 127
Table 19. China ROVs Market by Industry Vertical, 2016-2025, $ mn 131
Table 20. China ROVs Market by Vehicle Type, 2016-2025, $ mn 131
Table 21. Malaysia ROVs Market by Industry Vertical, 2016-2025, $ mn 133
Table 22. Malaysia ROVs Market by Vehicle Type, 2016-2025, $ mn 133
Table 23. Australia ROVs Market by Industry Vertical, 2016-2025, $ mn 135
Table 24. Australia ROVs Market by Vehicle Type, 2016-2025, $ mn 135
Table 25. India ROVs Market by Industry Vertical, 2016-2025, $ mn 137
Table 26. India ROVs Market by Vehicle Type, 2016-2025, $ mn 137
Table 27. Latin America ROVs Market by Industry Vertical, 2016-2025, $ mn 140
Table 28. Latin America ROVs Market by Vehicle Type, 2016-2025, $ mn 140
Table 29. Argentina ROVs Market by Industry Vertical, 2016-2025, $ mn 143
Table 30. Argentina ROVs Market by Vehicle Type, 2016-2025, $ mn 143
Table 31. Brazil ROVs Market by Industry Vertical, 2016-2025, $ mn 145
Table 32. Brazil ROVs Market by Vehicle Type, 2016-2025, $ mn 145
Table 33. Mexico ROVs Market by Industry Vertical, 2016-2025, $ mn 148
Table 34. Mexico ROVs Market by Vehicle Type, 2016-2025, $ mn 148
Table 35. Africa ROVs Market by Industry Vertical, 2016-2025, $ mn 151
Table 36. Africa ROVs Market by Vehicle Type, 2016-2025, $ mn 151
Table 37. Nigeria ROVs Market by Industry Vertical, 2016-2025, $ mn 154
Table 38. Nigeria ROVs Market by Vehicle Type, 2016-2025, $ mn 154
Table 39. Angola ROVs Market by Industry Vertical, 2016-2025, $ mn 156
Table 40. Angola ROVs Market by Vehicle Type, 2016-2025, $ mn 156
Table 41. Market Share of Global Work-Class ROVs by Manufacturer, % Capex 161
Table 42. Market Share of Global Work-Class ROVs by Operator, %Capex 161
Table 43. Forum Energy Technologies, Inc. Condensed Consolidated Statements of Income, 2016-2017 167
Table 44. Forum Energy Technologies, Inc. Revenue by Business Segment, 2016-2017 168
Table 45. Main Products and Services of i-Tech 176
Table 46. Risk Evaluation for Investing in Global Market, 2016-2025 189
Table 47. Critical Success Factors and Key Takeaways 192
List of Figures
Figure 1. Research Method Flow Chart 10Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 13
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2014-2025 15
Figure 4. Global ROVs Market by Capex, 2014-2025, $ mn 17
Figure 5. Global ROVs Market by Fleet, 2014-2025, units 17
Figure 6. Structure and Segments of Global ROVs Market 19
Figure 7. Primary Drivers and Impact Factors of Global ROVs Market 20
Figure 8. Primary Restraints and Impact Factors of Global ROVs Market 23
Figure 9. Porter’s Fiver Forces Analysis of Global ROVs Market 29
Figure 10. Breakdown of Global ROVs Market by Industry Vertical, 2016-2025, % of Capex 34
Figure 11. 2014-2025 Capex Growth Rates of Global Sub-markets by Industry Vertical 34
Figure 12. Global Market of ROVs for Oil & Gas Industry by Capex, 2014-2025, $ mn 35
Figure 13. Global Population, GDP and Energy Demand, 1990-2030 36
Figure 14. Global Oil & Gas Offshore and Deepwater Production, 1970-2020 36
Figure 15. Global Market of ROVs for Scientific Research by Capex, 2014-2025, $ mn 39
Figure 16. Global Market of ROVs for Military & Defense by Capex, 2014-2025, $ mn 42
Figure 17. Global Market of ROVs for Other Industry Verticals by Capex, 2014-2025, $ mn 45
Figure 18. Breakdown of Global ROVs Market by New Builds and Operation & Service, 2016-2025, % of Capex 47
Figure 19. 2014-2025 Capex Growth Rates of Global Sub-markets by New Builds and Operation & Service 47
Figure 20. Global ROV New Builds, 2014-2025, units 49
Figure 21. Global Capex of ROV New Builds, 2014-2025, $ mn 49
Figure 22. Global Capex of ROV Operation & Service, 2014-2025, $ mn 50
Figure 23. Global ROV Operation Personnel, 2014-2025 51
Figure 24. Global Vessel Demand (%) by Water Depth (m)., 2010-2019 51
Figure 25. Breakdown of Global ROV Hardware Market by Component, 2016-2025, % of Capex 54
Figure 26. 2014-2025 Capex Growth Rates of Global Sub-markets by Hardware Component 54
Figure 27. Global Market of ROV Imaging System, 2014-2025, $ mn 55
Figure 28. Global Market of ROV Sensors and Automation Systems, 2014-2025, $ mn 57
Figure 29. Global Market of ROV Steering and Positioning System, 2014-2025, $ mn 58
Figure 30. Global Market of ROV Navigation System, 2014-2025, $ mn 59
Figure 31. Global Market of ROV Energy and Propulsion System, 2014-2025, $ mn 60
Figure 32. Global Market of Other ROV Hardware Components, 2014-2025, $ mn 61
Figure 33. Breakdown of Global ROV Market by Vehicle Type, 2016-2025, % of Fleet 65
Figure 34. 2014-2025 Fleet Growth Rates of Global Sub-markets by Vehicle Type 65
Figure 35. Breakdown of Global ROV Market by Vehicle Type, 2016-2025, % of Capex 66
Figure 36. 2014-2025 Capex Growth Rates of Global Sub-markets by Vehicle Type 66
Figure 37. Work-Class ROVs by Payload (kg) 67
Figure 38. Global Market of Observation ROVs by Fleet, 2014-2025, units 68
Figure 39. Global Market of Observation ROVs by Capex, 2014-2025, $ mn 69
Figure 40. Example Picture of Observation ROVs 70
Figure 41. Summary of Observation ROVs 71
Figure 42. Summary of Observation ROVs with Payload Option 71
Figure 43. Global Market of Light Work-Class ROVs by Fleet, 2014-2025, units 72
Figure 44. Global Market of Light Work-Class ROVs by Capex, 2014-2025, $ mn 73
Figure 45. Example Picture of Light Work-Class ROVs 74
Figure 46. Example Picture of High Capacity Electric ROVs 75
Figure 47. Global Market of Medium Work-Class ROVs by Fleet, 2014-2025, units 76
Figure 48. Global Market of Medium Work-Class ROVs by Capex, 2014-2025, $ mn 77
Figure 49. Example Picture of Ultra Deep ROVs 78
Figure 50. Global Market of Heavy Work-Class ROVs by Fleet, 2014-2025, units 79
Figure 51. Global Market of Heavy Work-Class ROVs by Capex, 2014-2025, $ mn 80
Figure 52. Example Picture of Heavy Work-Class ROVs 81
Figure 53. Summary of Light, Medium and Heavy Work-Class ROVs 82
Figure 54. Global Market of Towed and Bottom-Crawling ROVs by Fleet, 2014-2025, units 83
Figure 55. Global Market of Towed and Bottom-Crawling ROVs by Capex, 2014-2025, $ mn 84
Figure 56. Example Picture of Towed and Bottom-Crawling ROVs 85
Figure 57. Breakdown of Global Work-Class ROVs Market by Application, 2016-2025, % of Capex 88
Figure 58. 2014-2025 Work-Class ROV Capex Growth Rates of Global Sub-markets by Application 88
Figure 59. Work Class ROVs by Excursion Length (m) of Tether Management Systems (TMS) 89
Figure 60. Global Market of Work-Class ROVs for Drilling Support by Capex, 2014-2025, $ mn 91
Figure 61. Global Market of Work-Class ROVs for Construction Support by Capex, 2014-2025, $ mn 93
Figure 62. Global Market of Work-Class ROVs for Inspection, Repair and Maintenance (IRM) by Capex, 2014-2025, $ mn 95
Figure 63. Global Market of Work-Class ROVs for Other Applications by Capex, 2014-2025, $ mn 97
Figure 64. Breakdown of Global ROV Market by Propulsion System, 2016-2025, % of Fleet 99
Figure 65. 2014-2025 Fleet Growth Rates of Global Sub-markets by Propulsion System 99
Figure 66. Breakdown of Global ROVs Market by Propulsion System, 2016-2025, % of Capex 100
Figure 67. 2014-2025 Capex Growth Rates of Global Sub-markets by Propulsion System 100
Figure 68. Global Hydraulic ROVs Market by Fleet, 2014-2025, units 101
Figure 69. Global Hydraulic ROVs Market by Capex, 2014-2025, $ mn 102
Figure 70. Global Electric ROVs Market by Fleet, 2014-2025, units 104
Figure 71. Global Electric ROVs Market by Capex, 2014-2025, $ mn 104
Figure 72. Global Hybrid ROVs Market by Fleet, 2014-2025, units 105
Figure 73. Global Hybrid ROVs Market by Capex, 2014-2025, $ mn 106
Figure 74. Geographic Spread of Worldwide ROVs Market, 2016-2025, % of Capex 109
Figure 75. 2016-2025 Capex Growth Rates of Main Regional Markets 109
Figure 76. North American ROVs Market by Capex, 2014-2025, $ mn 112
Figure 77. Breakdown of North America ROVs Market by Country, 2016 and 2025, % of Capex 113
Figure 78. 2014-2025 Capex Growth Rates of National Markets in North America 113
Figure 79. U.S. ROVs Market by Capex, 2014-2025, $ mn 114
Figure 80. Canada ROVs Market by Capex, 2014-2025, $ mn 116
Figure 81. European ROVs Market by Capex, 2014-2025, $ mn 119
Figure 82. Breakdown of European ROVs Market by Country, 2016 and 2025, % of Capex 120
Figure 83. 2014-2025 Capex Growth Rates of National Markets in Europe 120
Figure 84. ROVs Market in Norway by Capex, 2014-2025, $ mn 121
Figure 85. ROVs Market in UK by Capex, 2014-2025, $ mn 123
Figure 86. ROVs Market in Rest of Europe by Capex, 2014-2025, $ mn 125
Figure 87. Asia-Pacific ROVs Market by Capex, 2014-2025, $ mn 127
Figure 88. Breakdown of APAC ROVs Market by Country, 2016 and 2025, % of Capex 128
Figure 89. 2014-2025 Capex Growth Rates of National Markets in APAC 128
Figure 90. ROVs Market in China by Capex, 2014-2025, $ mn 130
Figure 91. ROVs Market in Malaysia by Capex, 2014-2025, $ mn 132
Figure 92. ROVs Market in Australia by Capex, 2014-2025, $ mn 134
Figure 93. ROVs Market in India by Capex, 2014-2025, $ mn 136
Figure 94. ROVs Market in Rest APAC by Capex, 2014-2025, $ mn 138
Figure 95. Latin America ROVs Market by Capex, 2014-2025, $ mn 140
Figure 96. Breakdown of Latin America ROVs Market by Country, 2016 and 2025, % of Capex 141
Figure 97. 2014-2025 Capex Growth Rates of National Markets in Latin America 141
Figure 98. ROVs Market in Argentina by Capex, 2014-2025, $ mn 142
Figure 99. ROVs Market in Brazil by Capex, 2014-2025, $ mn 144
Figure 100. ROVs Market in Mexico by Capex, 2014-2025, $ mn 147
Figure 101. ROVs Market in Rest of Latin America by Capex, 2014-2025, $ mn 149
Figure 102. Africa ROVs Market by Capex, 2014-2025, $ mn 150
Figure 103. Breakdown of Africa ROVs Market by Country, 2016 and 2025, % of Capex 152
Figure 104. 2014-2025 Capex Growth Rates of National Markets in Africa 152
Figure 105. ROVs Market in Nigeria by Capex, 2014-2025, $ mn 153
Figure 106. ROVs Market in Angola by Capex, 2014-2025, $ mn 155
Figure 107. Middle East ROVs Market by Capex, 2014-2025, $ mn 158
Figure 108. Fugro Revenue Share by Industry, % 170
Figure 109. Fugro Revenue Share by End-user, % 171
Research methodology is mainly referring to the practical how of any offered piece of research. More specifically, it’s all about how a researcher systematically designs a study in order to assure extremely valid as well as reliable results that ultimately address the targets and objectives of the research.
In any formal research including academic journal, article, dissertation and so on, there will be a special section on a research methodology that mainly describes what, by whom, how to gather as well as how to evaluate the data are provided.
This research methodology has been segmented into following types:
Primary Research:
It is said to be original information that the researchers collect for the crucial purposes of answering the research questions of readers with the help of surveys, observations and experiments.
Secondary Research:
The secondary research is the data that has already been collected by various other researchers in the form of government analysis or scientific studies.
Qualitative Research:
It is descriptive and subjective method irrespective of facts. Both observation and description are essential in this type of research methodology. Its main vision is to analyze knowledge, attitudes, behaviours as well as opinions of people related to the topic of any research. This method has been operated through grounded research, case study and actionable research.
Quantitative Research:
It contains several laboratory experiments, basic surveys, mathematical calculations, simulations and so on. The possible measurement, quantity or amount is considered to be a major factor in the quantitative research methodology.
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