The global Underwater ROV market was valued at US$ 72 million in 2019 and it is expected to reach US$ 124.6 million by the end of 2026, growing at a CAGR of 8.5% during 2021-2026.
An underwater remotely operated vehicle (ROV) is an unoccupied underwater robot that is connected to a ship by a series of cables. These cables transmit command and control signals between the operator and the ROV, allowing remote navigation of the vehicle. An ROV may include a video camera, lights, sonar systems, and an articulating arm. The articulating arm is used for retrieving small objects, cutting lines, or attaching lifting hooks to larger objects. The report mainly focuses on ROVs with max working depth between 100 to 500m.
This market has witnessed significant growth owing to increased usage in aquaculture, dams and ships inspection and scientific and research. Increased investment in underwater ROV by leading players is expected to favourably impact market growth over the forecast period.
The Asia Pacific is expected to be the fastest-growing market over the forecast period owing to extensive usage in the market. Developing Countries such as China, India and Southeast Asia have great potential due to the fast economy development.
For the underwater ROV industry, the market is concentrated. VideoRay, Teledyne and ECA Group are the leader companies globally. The top five manufacturers have more than 30% of the market share and they have expanded their sales worldwide.
Global Underwater ROV Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Underwater ROV Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Videoray, Teledyne, Eca Group, Deep Trekker, Seamor Marine, Lighthouse, Saab, Deep Ocean Engineering, Robosea, Blueye Robotics, Deepinfar, Shenzhen Vxfly, Nido Robotics, Subsea Tech, Blue Robotics, Irov Technologies and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-underwater-rov-market-research-report
Segment by Type
- Max Depth 100-300m
- Max Depth 301-500m
Segment by Application
- Dams and Ships Inspection
- Scientific and Research
Table of Content:
1 Underwater ROV Market Overview
2 Underwater ROV Market Competition by Manufacturers
3 Underwater ROV Retrospective Market Scenario by Region
4 Global Underwater ROV Historic Market Analysis by Type
5 Global Underwater ROV Historic Market Analysis by Application
6 Key Companies Profiled
7 Underwater ROV Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Underwater ROV Market Dynamics
10 Global Underwater ROV Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta
Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is DailyFactsNTrends member since 2017.