Remotely Operated Vehicles Industry Statistics

In this post, we will explore key statistics and trends in the remotely operated vehicles (ROV) industry. From market size and growth projections to regional dominance and application breakdowns, these insights provide a comprehensive look at the dynamics shaping the ROV sector.

Statistic 1

"The global Remotely Operated Vehicle (ROV) market size was valued at USD 1.97 billion in 2016."

Statistic 2

"The ROV market is expected to grow at a CAGR of 11.5% from 2021 to 2026."

Statistic 3

"North America dominated the ROV market with a 40% share in 2018."

Statistic 4

"Drilling support applications constitute 70% of the ROV market."

Statistic 5

"The offshore oil & gas industry accounted for over 60% of the ROV market in 2019."

Statistic 6

"52% of ROVs are being used for commercial purposes according to a 2018 study."

Statistic 7

"The military sector is projected to experience the fastest growth in the ROV market at a CAGR of 12.8% from 2021 to 2026."

Statistic 8

"The ROV services market in Asia Pacific is expected to grow at the highest rate, registering a CAGR of 12.2% in the prediction period."

Statistic 9

"By 2024, Latin America will account for approximately 19.4% of the global ROV demand."

Statistic 10

"Light-work-class vehicles hold the largest market share (60% approximately) in the ROV industry."

Statistic 11

"In 2019, the U.S. ROV market size exceeded USD 500 million."

Statistic 12

"The Middle East ROV market will see over 10% CAGR from 2020 to 2026."

Statistic 13

"Electric systems are predicted to dominate over 40% of the ROV industry share by 2026."

Statistic 14

"The ROV market for defense & security applications is projected to grow at a CAGR of 12% till 2026."

Statistic 15

"WROVs (Work-class ROVs) are expected to witness a growth of over 6% CAGR during 2019-2025."

Statistic 16

"The ROV industry in the UK accounted for over 40% of the European revenue in 2018."

Statistic 17

"The scientific research segment in the ROV market will witness growth of over 7.5% till 2025."

Statistic 18

"The AUV (Autonomous Underwater Vehicle) sector is expected to develop at a faster pace and grow by approximately 14% over the next eight years."

Statistic 19

"The ROV market size in Norway exceeded USD 100 million in 2019."

The statistics presented indicate a promising future for the Remotely Operated Vehicles (ROV) industry, with consistent growth projected across various sectors and regions. North America and Asia Pacific are expected to play significant roles in driving this expansion, particularly in the military and commercial segments. The prevalence of drilling support applications and the dominance of the offshore oil & gas industry underscore the importance of ROVs in these sectors. Furthermore, the anticipated rise of electric systems and the rapid growth of AUVs highlight the industry’s ongoing evolution and the potential for technological advancements. Overall, the statistics suggest a robust and dynamic ROV market landscape poised for substantial development in the coming years.