Market Size of South America AUV & ROV Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South America AUV & ROV Market Analysis
The South American AUV and ROV market is expected to register a CAGR of 5.6 % during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.
- Various factors, such as rising oil and gas production activities, growing offshore wind power industry, and increasing oil and gas decommissioning activities, are expected to drive the market during the forecast period.
- On the other hand, countries like Argentina, Chile, Colombia, and Ecuador are planning to increase their focus on climate change. These countries are expected to ban offshore exploration activities in the future, thereby restraining market growth.
- Nevertheless, the rising deepwater and ultra-deepwater discoveries are expected to open up new opportunities for the South American AUV and ROV market.
- During the forecast period, Brazil is expected to dominate the market due to the country's increasing oil and gas activities.
South America AUV & ROV Industry Segmentation
AUVs and ROVs are autonomous underwater and remotely operated underwater vehicles. AUVs are particularly employed for underwater survey missions, such as detecting and mapping submerged wrecks and rocks. ROVs are unoccupied underwater robots connected to a ship by cables.
The South American AUV and ROV Market is Segmented by Vehicle Type (ROV and AUV), End-user Application (Oil and Gas, Defense, Research, and Other End-user Applications), and Geography (Argentina, Brazil, Chile, Colombia, and Rest of South America). The report offers the market size and forecasts for the South American AUV and ROV market in USD billion for all the above segments.
| By Vehicle Type | |
| ROV | |
| AUV |
| By End-user Application | |
| Oil and Gas | |
| Defense | |
| Research | |
| Other End-user Applications |
| By Geography | |
| Argentina | |
| Brazil | |
| Chile | |
| Colombia | |
| Rest of South America |
South America AUV & ROV Market Size Summary
The South American AUV and ROV market is poised for growth, driven by factors such as increased oil and gas production, the expansion of the offshore wind power industry, and heightened decommissioning activities. Despite the challenges posed by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. However, environmental concerns in countries like Argentina, Chile, Colombia, and Ecuador may lead to restrictions on offshore exploration, potentially hindering market expansion. Nonetheless, the discovery of deepwater and ultra-deepwater reserves presents new opportunities, with Brazil expected to lead the market due to its robust oil and gas activities.
The region's reliance on oil and gas is significant, with countries like Brazil, Colombia, Argentina, Peru, and Ecuador heavily dependent on petroleum-based products. The oil and gas sector's influence on international politics and economics is profound, and the need for advanced underwater vehicles for deepwater operations is increasing. AUVs and ROVs have transitioned from niche technologies to essential tools in the industry. Brazil's market is bolstered by substantial investments in exploration and production, particularly in pre-salt assets, and ongoing contracts with major companies like Petrobras. This trend underscores Brazil's dominant position in the South American AUV and ROV market during the forecast period.
South America AUV & ROV Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size And Demand Forecast In USD Billion, Till 2027
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1.3 Recent Trends And Developments
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1.4 Government Policies And Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Bargaining Power of Suppliers
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1.6.2 Bargaining Power of Consumers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitutes Products and Services
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Vehicle Type
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2.1.1 ROV
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2.1.2 AUV
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2.2 By End-user Application
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2.2.1 Oil and Gas
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2.2.2 Defense
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2.2.3 Research
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2.2.4 Other End-user Applications
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2.2.5
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2.3 By Geography
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2.3.1 Argentina
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2.3.2 Brazil
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2.3.3 Chile
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2.3.4 Colombia
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2.3.5 Rest of South America
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South America AUV & ROV Market Size FAQs
What is the current South America AUV & ROV Market size?
The South America AUV & ROV Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in South America AUV & ROV Market?
DOF Subsea AS, Fugro NV, Subsea 7 SA, Saipem SpA and Oceaneering International Inc. are the major companies operating in the South America AUV & ROV Market.
