Global Remote Operated Vehicle (ROV) Services Market Outlook to 2028

The growing demand for oil & gas coupled with continued deep-water exploration, growing offshore constructions & infrastructures of subsea wells, increasing marine activities, growing offshore wind power industry, and increasing oil and gas decommissioning activities are some of the significant factors driving the demand for global remote operated vehicle market.

However, substantial capital investments and a volatile energy market restrain the growth of the offshore ROV market.

ROVs are remotely operated underwater vehicles operated by a crew on the surface to carry out underwater tasks. ROVs are widely used in the offshore industry from exploration drilling to decommissioning and are needed for all life-of-field phases in the offshore oil and gas industry, the offshore wind and renewables industry, and the subsea cables market.

The outbreak of Covid-19 has led to a reduction in offshore activity and, in turn, a fall in offshore drilling rig count, which has negatively impacted the demand for ROV vehicles.

Europe is projected to drive ROVs' market growth during the forecasted period due to growing decommissioning activities and rising offshore wind operations.

North America also expected to spur the market growth, owing to the nearing exhaustion of onshore reserves and rising offshore operations in the Gulf of Mexico region.

Blackridge's Report provides insights into the current global and regional market demand scenario and its outlook. The study offers a detailed analysis of various factors instrumental in affecting the global remote operated vehicle growth.

The Report will also provide a perspective on various market opportunities and threats and a detailed analysis of the global remote operated vehicle market's competitive landscape.