North America Remotely Operated Vehicle (ROV) Market 2024-2033 by Component (Hardware, Solutions & Services), Category (New Builds, ROV Upgrade & Operation), Vehicle Type (Observation, Work Class, Towed and Bottom-Crawling), Propulsion System (Hydraulic, Electric, Others), Working Depth (Shallow, Deep, Ultra-Deep), Industry Vertical (Oil & Gas, Military, Research), Application (Drilling, Construction, IRM, SES), and Country: Trend Forecast and Growth Opportunity
- Report ID: 65479
- Date: May, 2024
- Pages: 144
- Category: ICT & Media
North America remotely operated vehicle (ROV) market is projected to grow by 4.7% annually in the forecast period and reach $749.6 million by 2033, driven by the rising adoption of ROVs in various industry verticals, the growing expenses on oil and gas exploration as well as the increasing naval operations, the technological advancements and innovation, and the growing R&D investment along with government supports.
Highlighted with 32 tables and 82 figures, this 144-page report “North America Remotely Operated Vehicle (ROV) Market 2024-2033 by Component (Hardware, Solutions & Services), Category (New Builds, ROV Upgrade & Operation), Vehicle Type (Observation, Work Class, Towed and Bottom-Crawling), Propulsion System (Hydraulic, Electric, Others), Working Depth (Shallow, Deep, Ultra-Deep), Industry Vertical (Oil & Gas, Military, Research), Application (Drilling, Construction, IRM, SES), and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire North America remotely operated vehicle (ROV) 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. The report is based on studies on 2021-2023 and provides forecast from 2024 till 2033 with 2023 as the base year.
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
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 trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify North America remotely operated vehicle (ROV) market in every aspect of the classification from perspectives of Component, Category, Vehicle Type, Propulsion System, Working Depth, Industry Vertical, Application, and Country.
Based on Component, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• Hardware
o Imaging System
o Sensors and Automation System
o Steering and Positioning System
o Navigation System
o Energy and Propulsion System
o Other Hardware
• Solutions & Services
Based on Category, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• ROV New Builds
• ROV Upgrade & Operation
By Vehicle Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and fleet in operation (units) for 2024-2033 included in each section.
• Observation Vehicle
• Light Work Class Vehicle
• Medium Work Class Vehicle
• Heavy Work Class Vehicle
• Towed and Bottom-Crawling Vehicle
By Propulsion System, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and fleet in operation (units) for 2024-2033 included in each section.
• Hydraulic Systems
• Electric Systems
• Other Propulsion Systems
By Working Depth, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• Shallow Water
• Deepwater
• Ultra-Deepwater
By Industry Vertical, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• Oil & Gas Industry
• Military & Defense
• Scientific Research
• Other Industry Verticals
By Application, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2024-2033 included in each section.
• Drilling Support
• Construction Support
• Inspection, Repair and Maintenance (IRM)
• Subsea Engineering Services (SES)
• Other Applications
Geographically, the following national/local markets are fully investigated:
• U.S.
• Canada
• Mexico
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2024-2033. The breakdown of national markets by Vehicle Type, Industry Vertical, and Application over the forecast years are also included.
The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Bourbon
C-Innovation
DeepOcean AS
DOF Subsea AS
Forum Energy Technologies
Fugro Subsea Services Ltd.
Hallin Marine
Harkand Andrews Survey
Helix Energy Solutions Group Inc.
i-Tech (Subsea 7)
KystDesign
Oceaneering International Inc.
Perry Slingsby Systems
SAAB
Saipem SpA
SchillingRobotics
SMD
TechnipFMC PLC
Teledyne Technologies Incorporated
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
1 Introduction 8
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 14
1.2.6 Market Size/Share Estimation 15
1.2.7 Research Limitations 16
1.3 Executive Summary 17
2 Market Overview and Dynamics 20
2.1 Market Size and Forecast 20
2.1.1 Impact of COVID-19 on World Economy 23
2.1.2 Impact of COVID-19 on the Market 26
2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 28
2.2 Major Growth Drivers 32
2.3 Market Restraints and Challenges 37
2.4 Emerging Opportunities and Market Trends 40
2.5 Porter’s Fiver Forces Analysis 44
3 Segmentation of North America Market by Component 48
3.1 Market Overview by Component 48
3.2 Hardware 50
3.2.1 Imaging System 52
3.2.2 Sensors and Automation System 53
3.2.3 Steering and Positioning System 54
3.2.4 Navigation System 55
3.2.5 Energy and Propulsion System 56
3.2.6 Other Hardware 57
3.3 Solutions & Services 58
4 Segmentation of North America Market by Category 59
4.1 Market Overview by Category 59
4.2 ROV New Builds 61
4.3 ROV Upgrade & Operation 63
5 Segmentation of North America Market by Vehicle Type 65
5.1 Market Overview by Vehicle Type 65
5.2 Observation Vehicle 70
5.3 Light Work Class Vehicle 73
5.4 Medium Work Class Vehicle 75
5.5 Heavy Work Class Vehicle 77
5.6 Towed and Bottom-Crawling Vehicle 79
6 Segmentation of North America Market by Propulsion System 81
6.1 Market Overview by Propulsion System 81
6.2 Hydraulic Systems 84
6.3 Electric Systems 86
6.4 Other Propulsion Systems 88
7 Segmentation of North America Market by Working Depth 90
7.1 Market Overview by Working Depth 90
7.2 Shallow Water 92
7.3 Deepwater 93
7.4 Ultra-Deepwater 94
8 Segmentation of North America Market by Industry Vertical 96
8.1 Market Overview by Industry Vertical 96
8.2 Oil & Gas Industry 98
8.3 Military & Defense 99
8.4 Scientific Research 100
8.5 Other Industry Verticals 101
9 Segmentation of North America Market by Application 102
9.1 Market Overview by Application 102
9.2 Drilling Support 104
9.3 Construction Support 105
9.4 Inspection, Repair and Maintenance (IRM) 106
9.5 Subsea Engineering Services (SES) 107
9.6 Other Applications 108
10 North America Market 2022-2032 by Country 109
10.1 Overview of North America Market 109
10.2 U.S. 112
10.3 Canada 115
10.4 Mexico 117
11 Competitive Landscape 119
11.1 Overview of Key Vendors 119
11.2 New Product Launch, Partnership, Investment, and M&A 123
11.3 Company Profiles 124
Bourbon 124
C-Innovation 126
DeepOcean AS 127
DOF Subsea AS 128
Forum Energy Technologies 129
Fugro Subsea Services Ltd. 130
Hallin Marine 131
Harkand Andrews Survey 132
Helix Energy Solutions Group Inc. 133
i-Tech (Subsea 7) 134
KystDesign 135
Oceaneering International Inc. 136
Perry Slingsby Systems 137
SAAB 138
Saipem SpA 139
SchillingRobotics 140
SMD 141
TechnipFMC PLC 142
Teledyne Technologies Incorporated 143
RELATED REPORTS 144
List of Tables
List of Tables:
Table 1. Snapshot of North America Remotely Operated Vehicle Market in Balanced Perspective, 2022-2032 18
Table 2. World Economic Outlook, 2021-2031 24
Table 3. World Economic Outlook, 2021-2023 25
Table 4. Scenarios for Economic Impact of Ukraine Crisis 29
Table 5. Main Product Trends and Market Opportunities in North America Remotely Operated Vehicle Market 40
Table 6. North America Remotely Operated Vehicle Market by Component, 2022-2032, $ mn 48
Table 7. North America Remotely Operated Vehicle Market: Hardware by Type, 2022-2032, $ mn 51
Table 8. North America Remotely Operated Vehicle Market by Category, 2022-2032, $ mn 59
Table 9. Classifications of ROVs by Type 65
Table 10. North America Remotely Operated Vehicle Market by Vehicle Type, 2022-2032, $ mn 66
Table 11. North America Remotely Operated Vehicle Market by Vehicle Type, 2022-2032, units of Fleet in Operation 68
Table 12. Exemplary Applications of Observation-grade ROVs 71
Table 13. North America Remotely Operated Vehicle Market by Propulsion System, 2022-2032, $ mn 81
Table 14. North America Remotely Operated Vehicle Market by Propulsion System, 2022-2032, units of Fleet in Operation 83
Table 15. North America Remotely Operated Vehicle Market by Working Depth, 2022-2032, $ mn 90
Table 16. North America Remotely Operated Vehicle Market by Industry Vertical, 2022-2032, $ mn 96
Table 17. North America Remotely Operated Vehicle Market by Application, 2022-2032, $ mn 102
Table 18. North America Remotely Operated Vehicle Market by Country, 2022-2032, $ mn 110
Table 19. U.S. Remotely Operated Vehicle Market by Vehicle Type, 2022-2032, $ mn 114
Table 20. U.S. Remotely Operated Vehicle Market by Industry Vertical, 2022-2032, $ mn 114
Table 21. U.S. Remotely Operated Vehicle Market by Application, 2022-2032, $ mn 114
Table 22. Canada Remotely Operated Vehicle Market by Vehicle Type, 2022-2032, $ mn 116
Table 23. Canada Remotely Operated Vehicle Market by Industry Vertical, 2022-2032, $ mn 116
Table 24. Canada Remotely Operated Vehicle Market by Application, 2022-2032, $ mn 116
Table 25. Mexico Remotely Operated Vehicle Market by Vehicle Type, 2022-2032, $ mn 118
Table 26. Mexico Remotely Operated Vehicle Market by Industry Vertical, 2022-2032, $ mn 118
Table 27. Mexico Remotely Operated Vehicle Market by Application, 2022-2032, $ mn 118
Table 28. Market Share of Worldwide Work-Class ROVs by Manufacturer in 2022, % Capex 121
Table 29. Market Share of Worldwide Work-Class ROVs by Operator in 2022, %Capex 121
Table 30. Bourbon: Company Snapshot 124
Table 31. Bourbon: Business Segmentation 125
Table 32. Bourbon: Product Portfolio 125
List of Figures
List of Figures:
Figure 1. Research Method Flow Chart 12
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 15
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 17
Figure 4. Industry Value Chain Analysis 20
Figure 5. North America Remotely Operated Vehicle Market by Value, 2022-2032, $ mn 21
Figure 6. North America Remotely Operated Vehicle Market by Fleet in Operation, 2022-2032, unit 22
Figure 7. Impact of COVID-19 on Business 26
Figure 8. Primary Drivers and Impact Factors of North America Remotely Operated Vehicle Market 32
Figure 9. World Oil & Gas Offshore and Deepwater Production, 1970-2020 35
Figure 10. World Crude Oil Production, 2000-2021, million tons 36
Figure 11. Primary Restraints and Impact Factors of North America Remotely Operated Vehicle Market 37
Figure 12. Investment Opportunity Analysis 41
Figure 13. Porter’s Fiver Forces Analysis of North America Remotely Operated Vehicle Market 44
Figure 14. Breakdown of North America Remotely Operated Vehicle Market by Component, 2022-2032, % of Revenue 49
Figure 15. North America Addressable Market Cap in 2023-2032 by Component, Value ($ mn) and Share (%) 49
Figure 16. North America Remotely Operated Vehicle Market by Component: Hardware, 2022-2032, $ mn 50
Figure 17. North America Remotely Operated Vehicle Market by Hardware: Imaging System, 2022-2032, $ mn 52
Figure 18. North America Remotely Operated Vehicle Market by Hardware: Sensors and Automation System, 2022-2032, $ mn 53
Figure 19. North America Remotely Operated Vehicle Market by Hardware: Steering and Positioning System, 2022-2032, $ mn 54
Figure 20. North America Remotely Operated Vehicle Market by Hardware: Navigation System, 2022-2032, $ mn 55
Figure 21. North America Remotely Operated Vehicle Market by Hardware: Energy and Propulsion System, 2022-2032, $ mn 56
Figure 22. North America Remotely Operated Vehicle Market by Hardware: Other Hardware, 2022-2032, $ mn 57
Figure 23. North America Remotely Operated Vehicle Market by Component: Solutions & Services, 2022-2032, $ mn 58
Figure 24. Breakdown of North America Remotely Operated Vehicle Market by Category, 2022-2032, % of Sales Revenue 60
Figure 25. North America Addressable Market Cap in 2023-2032 by Category, Value ($ mn) and Share (%) 60
Figure 26. North America Remotely Operated Vehicle Market by Category: ROV New Builds, 2022-2032, $ mn 61
Figure 27. North America Remotely Operated Vehicle Market by Category: ROV New Builds, 2022-2032, unit 62
Figure 28. North America Remotely Operated Vehicle Market by Category: ROV Upgrade & Operation, 2022-2032, $ mn 63
Figure 29. ROV Personnel in North America Remotely Operated Vehicle Industry, 2022-2032 64
Figure 30. Breakdown of North America Remotely Operated Vehicle Market by Vehicle Type, 2022-2032, % of Sales Revenue 67
Figure 31. North America Addressable Market Cap in 2023-2032 by Vehicle Type, Value ($ mn) and Share (%) 67
Figure 32. Breakdown of North America Remotely Operated Vehicle Market by Vehicle Type, 2022-2032, % of Fleet in Operation 68
Figure 33. Work-Class ROVs by Payload (kg) 69
Figure 34. Example Picture of Observation ROVs 70
Figure 35. North America Remotely Operated Vehicle Market by Vehicle Type: Observation Vehicle, 2022-2032, $ mn 72
Figure 36. North America Remotely Operated Vehicle Market by Vehicle Type: Observation Vehicle, 2022-2032, units of Fleet in Operation 72
Figure 37. Example Picture of Light Work-Class ROVs 73
Figure 38. North America Remotely Operated Vehicle Market by Vehicle Type: Light Work Class Vehicle, 2022-2032, $ mn 74
Figure 39. North America Remotely Operated Vehicle Market by Vehicle Type: Light Work Class Vehicle, 2022-2032, units of Fleet in Operation 74
Figure 40. North America Remotely Operated Vehicle Market by Vehicle Type: Medium Work Class Vehicle, 2022-2032, $ mn 75
Figure 41. North America Remotely Operated Vehicle Market by Vehicle Type: Medium Work Class Vehicle, 2022-2032, units of Fleet in Operation 76
Figure 42. Example Picture of Heavy Work-Class ROVs 77
Figure 43. North America Remotely Operated Vehicle Market by Vehicle Type: Heavy Work Class Vehicle, 2022-2032, $ mn 78
Figure 44. North America Remotely Operated Vehicle Market by Vehicle Type: Heavy Work Class Vehicle, 2022-2032, units of Fleet in Operation 78
Figure 45. Example Picture of Towed and Bottom-Crawling ROVs 79
Figure 46. North America Remotely Operated Vehicle Market by Vehicle Type: Towed and Bottom-Crawling Vehicle, 2022-2032, $ mn 80
Figure 47. North America Remotely Operated Vehicle Market by Vehicle Type: Towed and Bottom-Crawling Vehicle, 2022-2032, units of Fleet in Operation 80
Figure 48. Breakdown of North America Remotely Operated Vehicle Market by Propulsion System, 2022-2032, % of Revenue 82
Figure 49. North America Addressable Market Cap in 2023-2032 by Propulsion System, Value ($ mn) and Share (%) 82
Figure 50. Breakdown of North America Remotely Operated Vehicle Market by Propulsion System, 2022-2032, % of Fleet in Operation 83
Figure 51. North America Remotely Operated Vehicle Market by Propulsion System: Hydraulic Systems, 2022-2032, $ mn 84
Figure 52. North America Remotely Operated Vehicle Market by Propulsion System: Hydraulic Systems, 2022-2032, units of Fleet in Operation 85
Figure 53. Example Picture of High Capacity Electric ROVs 86
Figure 54. North America Remotely Operated Vehicle Market by Propulsion System: Electric Systems, 2022-2032, $ mn 87
Figure 55. North America Remotely Operated Vehicle Market by Propulsion System: Electric Systems, 2022-2032, units of Fleet in Operation 87
Figure 56. North America Remotely Operated Vehicle Market by Propulsion System: Other Propulsion Systems, 2022-2032, $ mn 88
Figure 57. North America Remotely Operated Vehicle Market by Propulsion System: Other Propulsion Systems, 2022-2032, units of Fleet in Operation 89
Figure 58. Breakdown of North America Remotely Operated Vehicle Market by Working Depth, 2022-2032, % of Revenue 91
Figure 59. North America Addressable Market Cap in 2023-2032 by Working Depth, Value ($ mn) and Share (%) 91
Figure 60. North America Remotely Operated Vehicle Market by Working Depth: Shallow Water, 2022-2032, $ mn 92
Figure 61. North America Remotely Operated Vehicle Market by Working Depth: Deepwater, 2022-2032, $ mn 93
Figure 62. Example Picture of Ultra Deep ROVs 94
Figure 63. North America Remotely Operated Vehicle Market by Working Depth: Ultra-Deepwater, 2022-2032, $ mn 95
Figure 64. Breakdown of North America Remotely Operated Vehicle Market by Industry Vertical, 2022-2032, % of Revenue 96
Figure 65. North America Addressable Market Cap in 2023-2032 by Industry Vertical, Value ($ mn) and Share (%) 97
Figure 66. North America Remotely Operated Vehicle Market by Industry Vertical: Oil & Gas Industry, 2022-2032, $ mn 98
Figure 67. North America Remotely Operated Vehicle Market by Industry Vertical: Military & Defense, 2022-2032, $ mn 99
Figure 68. North America Remotely Operated Vehicle Market by Industry Vertical: Scientific Research, 2022-2032, $ mn 100
Figure 69. North America Remotely Operated Vehicle Market by Industry Vertical: Other Industry Verticals, 2022-2032, $ mn 101
Figure 70. Breakdown of North America Remotely Operated Vehicle Market by Application, 2022-2032, % of Sales Revenue 103
Figure 71. North America Addressable Market Cap in 2023-2032 by Application, Value ($ mn) and Share (%) 103
Figure 72. North America Remotely Operated Vehicle Market by Application: Drilling Support, 2022-2032, $ mn 104
Figure 73. North America Remotely Operated Vehicle Market by Application: Construction Support, 2022-2032, $ mn 105
Figure 74. North America Remotely Operated Vehicle Market by Application: Inspection, Repair and Maintenance (IRM), 2022-2032, $ mn 106
Figure 75. North America Remotely Operated Vehicle Market by Application: Subsea Engineering Services (SES), 2022-2032, $ mn 107
Figure 76. North America Remotely Operated Vehicle Market by Application: Other Applications, 2022-2032, $ mn 108
Figure 77. Breakdown of North America Remotely Operated Vehicle Market by Country, 2022 and 2032, % of Revenue 110
Figure 78. Contribution to North America 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 111
Figure 79. U.S. Remotely Operated Vehicle Market, 2022-2032, $ mn 113
Figure 80. Canada Remotely Operated Vehicle Market, 2022-2032, $ mn 115
Figure 81. Remotely Operated Vehicle Market in Mexico, 2022-2032, $ mn 117
Figure 82. Growth Stage of North America Remotely Operated Vehicle Industry over the Forecast Period 119
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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