South America AUV & ROV Market Size (2024 - 2029)

The South American AUV and ROV market is anticipated to experience growth driven by factors such as increased oil and gas production, the expanding offshore wind power sector, and rising decommissioning activities. Despite potential constraints from climate change initiatives in countries like Argentina, Chile, Colombia, and Ecuador, which may lead to bans on offshore exploration, the market is poised for expansion due to new opportunities from deepwater and ultra-deepwater discoveries. Brazil is expected to lead the market, benefiting from its growing oil and gas operations.

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Market Size of South America AUV & ROV Industry

South America AUV & ROV Market Summary
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

South America AUV & ROV Market Major Players

*Disclaimer: Major Players sorted in no particular order

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
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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.

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South America AUV & ROV 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 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Consumers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitutes Products and Services

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Vehicle Type

      1. 2.1.1 ROV

      2. 2.1.2 AUV

    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

      5. 2.2.5

    3. 2.3 By Geography

      1. 2.3.1 Argentina

      2. 2.3.2 Brazil

      3. 2.3.3 Chile

      4. 2.3.4 Colombia

      5. 2.3.5 Rest of South America

South America AUV & ROV Market Size FAQs

The South America AUV & ROV Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)

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.

South America AUV & ROV Report Snapshots

South America AUV & ROV Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)