Europe AUV Market Size (2024 - 2029)

The European AUV market is anticipated to experience growth driven by increased oil and gas production, offshore wind power generation, and decommissioning activities. Despite challenges posed by climate change initiatives and potential bans on offshore exploration, the market has rebounded to pre-pandemic levels. The discovery of deepwater and ultra-deepwater resources is expected to create new opportunities, with Norway projected to lead in market expansion due to significant investments in the upstream sector.

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Market Size of Europe AUV Industry

Europe AUV Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 6.90 %
Market Concentration Medium

Major Players

Europe AUV Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe AUV Market Analysis

The European AUV market is projected to register a CAGR of over 6.9% during the forecast period.

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

  • Factors such as rising oil and gas production activities, growing offshore wind power electricity generation, and increasing oil and gas decommissioning activities are expected to drive the AUV market during the forecast period.
  • On the other hand, countries planning to increase their focus on climate change and ban offshore exploration activities are expected to hinder market growth.
  • Nevertheless, the rising deepwater and ultra-deepwater discoveries are expected to open up new opportunities for the European AUV market.
  • With rising oil and gas investments, especially in the upstream sector, Norway is expected to witness significant growth and dominate the market.

Europe AUV Industry Segmentation

AUV (Autonomous Underwater Vehicle) is commonly known as a crewed underwater vehicle. AUVs can be used for various underwater survey operations, such as detecting and mapping submerged wrecks, rocks, and obstructions that can be hazardous to navigation for commercial and recreational vessels.

The European AUV Market is Segmented by Vehicle Type (Small, Medium, and Large-Size), End-user Application (Oil and Gas, Defense, Research, Other End-user Applications), Activity (Drilling and Development, Construction, Inspection, Repair, and Maintenance, Decommissioning, and Other Activity Types), and Geography (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The report also covers the market size and forecasts for the studied market across major countries. For each segment, the forecasts have been mentioned in USD billion.

By Vehicle Type
Small
Medium
Large-Size
By End-user Application
Oil and Gas
Defense
Research
Other End-user Applications
By Activity
Drilling and Development
Construction
Inspection, Repair, and Maintenance
Decommissioning
Other Activity Types
By Geography
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
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Europe AUV Market Size Summary

The European AUV market is poised for significant growth, driven by increasing activities in oil and gas production, offshore wind power generation, and decommissioning projects. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The region's reliance on oil and gas continues to influence its economic and political landscape, with Norway expected to lead the market due to its substantial investments in the upstream sector. The demand for AUVs is further bolstered by the need for advanced technologies to navigate and operate in challenging subsea conditions, essential for the installation, inspection, and maintenance of deepwater wells and pipeline systems.

Norway's dominance in natural gas production and its strategic position as a key supplier to the European Union enhance its role in the AUV market. The country's focus on new gas field investments and the development of medium-sized AUVs, like the HUGIN Edge, underscore its commitment to leveraging technology for resource exploration and mapping. The market's competitive landscape is moderately fragmented, with major players such as DOF Subsea AS, Fugro NV, and Oceaneering International Inc. actively participating. Collaborative efforts, such as those between TotalEnergies and iXblue, highlight the industry's push towards innovative solutions for subsea inspections and asset surveys, ensuring the oil and gas sector remains a dominant force in the European AUV market.

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Europe 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 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - 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 Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Vehicle Type

      1. 2.1.1 Small

      2. 2.1.2 Medium

      3. 2.1.3 Large-Size

    2. 2.2 By End-user Application

      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 By Activity

      1. 2.3.1 Drilling and Development

      2. 2.3.2 Construction

      3. 2.3.3 Inspection, Repair, and Maintenance

      4. 2.3.4 Decommissioning

      5. 2.3.5 Other Activity Types

    4. 2.4 By Geography

      1. 2.4.1 Germany

      2. 2.4.2 United Kingdom

      3. 2.4.3 France

      4. 2.4.4 Italy

      5. 2.4.5 Spain

      6. 2.4.6 Rest of Europe

Europe AUV Market Size FAQs

The Europe AUV Market is projected to register a CAGR of greater than 6.90% 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 Europe AUV Market.

Europe AUV Report Snapshots

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