Asia-Pacific AUV Market Size (2024 - 2029)

The Asia-Pacific AUV market is anticipated to experience growth driven by increasing offshore oil and gas production and the expanding offshore wind power sector. Despite challenges posed by climate change initiatives in countries like Vietnam and the Philippines, which may limit offshore exploration, the market is expected to benefit from new opportunities arising from deepwater and ultra-deepwater discoveries. China is projected to lead the market due to significant investments in the upstream oil and gas sector.

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Market Size of Asia-Pacific AUV Industry

Asia-Pacific AUV Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 5.50 %
Market Concentration Medium

Major Players

Asia-Pacific AUV Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC AUV Market Analysis

The Asia-Pacific AUV market is projected to register a CAGR of 5.5% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.

  • Over the long term, factors such as the rising offshore oil and gas production activities and the growing offshore wind power industry are expected to drive the AUV market during the forecast period.
  • On the other hand, various countries such as Vietnam and the Philippines are planning to increase their focus on climate change and ban offshore exploration activities in the future, which is expected to restrain the market growth.
  • Nevertheless, the rising deepwater and ultra-deepwater discoveries are expected to open up new opportunities for the Asia-Pacific AUV market during the forecast period.
  • China is expected to witness significant growth. With rising oil and gas investments, especially in the upstream sector, it is expected to dominate the market.

APAC AUV Industry Segmentation

AUV stands for autonomous underwater vehicle and is commonly known as an un-crewed underwater vehicle. AUVs can be used for underwater surveys, such as detecting and mapping submerged wrecks, rocks, and obstructions that can be a hazard to navigation for commercial and recreational vessels.

The Asia-Pacific AUV market is segmented by type. The market is segmented by vehicle type, end-user applications, and geography. By vehicle type, the market is segmented into small, medium, and large-size. By end-user application, the market is segmented by oil and gas, defense, research, and other end-user applications. For each segment, the forecasts have been mentioned in USD billion.

Vehicle Type
Small-Size
Medium-Size
Large-Size
End-User Applications
Oil and Gas
Defense
Research
Other End-User Applications
Geography
China
Japan
India
Indonesia
Vietnam
Thailand
Philippines
Rest of Asia-Pacific
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Asia-Pacific AUV Market Size Summary

The Asia-Pacific AUV market is poised for growth, driven by increasing offshore oil and gas production activities and the expanding offshore wind power industry. Despite the initial setbacks due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. However, environmental concerns in countries like Vietnam and the Philippines may pose challenges to future growth by restricting offshore exploration activities. Nonetheless, the discovery of deepwater and ultra-deepwater reserves presents new opportunities for the market. China is expected to lead the region's AUV market, bolstered by significant investments in oil and gas, particularly in the upstream sector.

The region's reliance on oil and gas, coupled with its rich reserves, underscores the importance of the hydrocarbon industry in the Asia-Pacific AUV market. The demand for oil and gas has surged post-pandemic, especially in transportation and industrial sectors, despite a decline in production in recent years. Initiatives like the collaboration between Indian Oil and Natural Gas Corp and ExxonMobil, as well as Petronas Chemicals Group's contracts in Malaysia, are set to enhance offshore exploration and drive AUV demand. China's strategic investments and plans to supply advanced AUVs to Saudi Arabia highlight its dominance in the market. The Asia-Pacific AUV market remains moderately fragmented, with key players including DOF Subsea AS, Fugro NV, RTSYS, Saipem SpA, and Oceaneering International Inc.

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Asia-Pacific AUV Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Recent Trends and Developments

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Vehicle Type

      1. 2.1.1 Small-Size

      2. 2.1.2 Medium-Size

      3. 2.1.3 Large-Size

    2. 2.2 End-User Applications

      1. 2.2.1 Oil and Gas

      2. 2.2.2 Defense

      3. 2.2.3 Research

      4. 2.2.4 Other End-User Applications

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 Japan

      3. 2.3.3 India

      4. 2.3.4 Indonesia

      5. 2.3.5 Vietnam

      6. 2.3.6 Thailand

      7. 2.3.7 Philippines

      8. 2.3.8 Rest of Asia-Pacific

Asia-Pacific AUV Market Size FAQs

The Asia-Pacific AUV Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)

DOF Subsea AS, Oceaneering International Inc., Fugro NV, RTSYS and Saipem SpA are the major companies operating in the Asia-Pacific AUV Market.

Asia-Pacific AUV Report Snapshots

Asia-Pacific AUV Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)