Offshore Robotics Market
Offshore Robotics Market Analysis, By Type (Remote Operated Vehicle and Autonomous Underwater Vehicle), By Application (Commercial Application and Research Application), and Region - Global Market Insights 2023 to 2033
Analysis of Offshore Robotics Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Offshore Robotics Market Outlook (2023 to 2033)
The global offshore robotics market is anticipated to be valued at US$ 1.8 billion in 2023 and it is anticipated to grow at a CAGR of 10.5% to reach US$ 4.8 billion by the end of 2033.
Offshore robotics is used for deep-sea exploration and offshore energy industry management. The offshore robotics market is driven by rising demand for ROV (remotely operated vehicles), as it is widely used in offshore oil and gas industries.
| Report Attributes | Details |
|---|---|
| Estimated Market Value (2023E) | US$ 1.8 Billion |
| Forecasted Market Value (2033F) | US$ 4.8 Billion |
| Global Market Growth Rate (2023 to 2033) | ~10.5% CAGR |
| North America Market Share (2023) | ~31.2% |
| East Asia Market Growth Rate (2023 to 2033) | ~15.2% CAGR |
| Europe Market Growth Rate (2023 to 2033) | ~10.2% CAGR |
| East Asia Market Share (2023) | ~21.2% |
| Key Companies Profiled | ABB; Universal Robotics Technology; iRobot; Yaskawa; Fanuk; QYSEA |
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Historic and Future Path for Offshore Robotics Market
With the help of offshore robotics, energy industry operators use remote-controlled offshore robots for risk-associated drilling tasks offshore and to prevent occupational injuries to humans. Robots can inspect offshore sites using sensor technology and create a 3D map of the underwater environment for better research outcomes. With advancements in offshore robots and similar technologies, its application is anticipated to increase significantly over the forecast period.
- Growth Factors for Short Term (2023 to 2026): Increasing research and development for marine life exploration is likely to drive market growth in the coming years.
- Factors for Medium-Term Growth (2026 to 2029): To explore a deep ocean where human penetration is restricted such as in extremely cold areas to discover new oil and gas reserves or understand the life evolution in the deep ocean to require robots for such task handling and collection & analysis of enormous research data. This, in turn, drives the offshore robotics market.
- Long-Term Growth Opportunities (2029 to 2033): Rising investment in research and development activities to develop new-generation offshore robots to cater to the needs of the end-users.
Over the 2018 to 2022 historical period, the global offshore robotics market registered a CAGR of 9.1%, according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 10.5% CAGR between 2023 and 2033.
Market share analysis of offshore robotics based on type and region is provided in a nutshell in the above image. Under the type segment, the ROV to dominate with a 54.4% market share in 2023.
“Offshore Wind Energy Market is Likely to Increase Demand for Offshore Robotics”
Major economies and companies are turning to the adoption of renewable energy sources, especially wind energy, as it is a source of clean energy, and holds the potential to meet the rising global energy demand. The adoption of offshore wind energy with cutting-edge technologies lured numerous economies and companies for high investments. Hence, with the growing demand for offshore wind energy, to supplement the growth of the offshore robotics market.
To manage the energy plants in the offshore environment humans, manage all operations is difficult, additionally, it requires a group of skilled professionals to manage all routine tasks, however, with the use of offshore robotics dearth of professionals can be overcome, also the requirement of workforce declines, occupational injuries can be prevented. It also saves on overall operational costs. Such factors drive the growth of offshore robotics with flourishing offshore wind energy.
“High Cost to Hamper Offshore Robotics Market Growth”
The high cost of offshore robotics and its maintenance can hamper offshore robotics market growth over the forecast period. Most advanced robots range starts from US$ 50,000 to US$ 5.0 million. The cost depends on the size and depth rating of the offshore robotics.
Maintenance work at many deep water wells and pipeline systems is carried out by unmanned vehicles. These vehicles need to transport to an offshore site with skilled workers and then remotely operate from the onboard vessel, which can cost up to US$ 100,000 each day. This is likely to hamper the offshore robotics market in the coming years.
Country-wise Insights
Why the US Increases its Demand for Offshore Robotics in the Coming Years?
The United States offshore robotics market is expected to expand at a CAGR of 9.3% over the projected period.
The US investment in technology to enhance their overall output to supplement the offshore robotics sales. Further, the US is a prominent player in the oil and gas sector, and due to Russia’s Ukraine invasion, the supply-demand of oil and gas is disrupted, hence, the countries like the US witnessing high demand for oil and gas, owing to this US to employ robots to increase production to cater to the consumer needs.
- For instance, the US is producing over 12 million barrels of crude oil per day in 2022 nearly an 8% increase from the previous year. The presence of some of the leading oil and gas manufacturing companies in the United States such as ExxonMobil, Chevron, ConocoPhilips, EOG Resource, and others, has more than 60% of the market share in the US oil and gas industry.
Furthermore, ongoing research activities in the US to reach the untapped areas under the ocean and for the collection of various types of biological sampling to create high demand for the offshore robotics market during the forecast period.
What Role does China Play in the Expansion of the Offshore Robotics Market?
China is considered one of the leading oil and gas-producing country across the globe. Its crude oil production in 2019 was approximately 3.8 million barrels per day, which puts China in the 7th place worldwide for production.
Further, China’s robotics industry was worth US$ 12.0 billion out of which industrial robots are worth 6.4 billion and service robots are valued at 5.6 billion. With the huge adoption of robots in routine tasks across China and the presence of the leading oil and gas sector, the offshore robotics market is anticipated to witness high growth opportunities across the country.
It is anticipated that China will lead the market in the forecast period and will grow at a CAGR of 16.0% and increases the sales of the product.
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Category-wise Insights
Why Oil and Gas Sector Increases the Demand for Offshore Robotics?
Increasing demand for oil and gas from various end-use industries is expected to boost the demand for the offshore robotics market in the coming years Robotics plays a crucial role in oil and gas reserves exploration, as it is widely used for deep ocean exploration, where it is very difficult for humans to reach.
With the elevating oil and gas industry, the offshore robotics market is to witness prominent growth over the forecast period. Oil and gas exploration in the offshore robotics market is to grow at 11.3% CAGR in the forecast period.
Which Type is Expected to Lead the Market Growth Over the Forecast Period?
Oil and gas manufacturers prefer remotely operating vehicles for surveying, inspecting, and sampling, such works were previously carried out by humans. However, human efforts were limited to a certain depth only. ROV offers deep sea exploration and is used for seafloor experiments, which have challenging operations such as drilling and delicate placement of instrumentation.
The remotely operated vehicle is likely to dominate the 54.4% market share in 2022 and is anticipated to reach a valuation of US$ 2.7 billion by the end of the forecast period.
Market Titans Key Strategies
Prominent offshore robotics manufacturers are Denso Corporation, ABB, Universal Robotics Technology, iRobot, Yaskawa, Fanuk, and QYSEA Other Players.
Companies focus on increasing the battery capacity of the robot which can run for a longer duration underwater and cater to the needs of the consumers. Further, customization and rental services to spur the offshore robotics market growth outlook.
Fact.MR has provided detailed information about the price points of key manufacturers of offshore robotics positioned across regions, sales growth, production Analysis, and speculative technological expansion, in the recently published report.
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Segmentation of Offshore Robotics Industry Research
-
By Type :
- Remote Operated Vehicles
- Work Class ROVs
- Light Work Class ROVs
- Observation Class ROVs
- Micro / Mini ROVs
- Autonomous Underwater Vehicle
- Remote Operated Vehicles
-
By Application :
- Commercial Applications
- Oil & Gas Exploration
- Shipwreck Recovery
- Industrial Infrastructure Inspection
- Research Applications
- Ocean Exploration & Mapping
- Aquaculture (Biological Sampling)
- Commercial Applications
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Table of Content
- 1. Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Global Demand (Units) Analysis and Forecast
- 5. Global Market - Pricing Analysis
- 6. Global Market Value (US$ million) Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Type
- 7.1. Remote Operated Vehicles
- 7.1.1. Work Class ROVs
- 7.1.2. Light Work Class ROVs
- 7.1.3. Observation Class ROVs
- 7.1.4. Micro / Mini ROVs
- 7.2. Autonomous Underwater Vehicle
- 7.1. Remote Operated Vehicles
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Commercial Applications
- 8.1.1. Oil & Gas Exploration
- 8.1.2. Shipwreck Recovery
- 8.1.3. Industrial Infrastructure Inspection
- 8.1. Commercial Applications
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Europe
- 9.4. East Asia
- 9.5. South Asia & Oceania
- 9.6. Middle East & Africa
- 10. North America Market Analysis and Forecast
- 11. Latin America Market Analysis and Forecast
- 12. Europe Market Analysis and Forecast
- 13. East Asia Market Analysis and Forecast
- 14. South Asia & Oceania Market Analysis and Forecast
- 15. Middle East & Africa Market Analysis and Forecast
- 16. Country-Level Market Analysis and Forecast
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. ABB
- 18.2. Universal Robotics Technology
- 18.3. iRobot
- 18.4. Yaskawa
- 18.5. Fanuk
- 18.6. QYSEA
- 18.7. Other Prominent Players
- 19. Assumptions & Acronyms Used
- 20. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ million), By Region, 2018 to 2022
Table 02: Global Market Value (US$ million) and Forecast By Region, 2023 to 2033
Table 03: Global Market Volume (Units), By Region, 2018 to 2022
Table 04: Global Market Volume (Units) and Forecast By Region, 2023 to 2033
Table 05: Global Market Value (US$ million), By Type, 2018 to 2022
Table 06: Global Market Value (US$ million) and Forecast By Type, 2023 to 2033
Table 07: Global Market Volume (Units), By Type, 2018 to 2022
Table 08: Global Market Volume (Units) and Forecast By Type, 2023 to 2033
Table 09: Global Market Value (US$ million), By Application, 2018 to 2022
Table 10: Global Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 11: Global Market Volume (Units), By Application, 2018 to 2022
Table 12: Global Market Volume (Units) and Forecast By Application, 2023 to 2033
Table 13: North America Market Value (US$ million), By Country, 2018 to 2022
Table 14: North America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 15: North America Market Volume (Units), By Country, 2018 to 2022
Table 16: North America Market Volume (Units) and Forecast By Country, 2023 to 2033
Table 17: North America Market Value (US$ million), By Type, 2018 to 2022
Table 18: North America Market Value (US$ million) and Forecast By Type, 2023 to 2033
Table 19: North America Market Volume (Units), By Type, 2018 to 2022
Table 20: North America Market Volume (Units) and Forecast By Type, 2023 to 2033
Table 21: North America Market Value (US$ million), By Application, 2018 to 2022
Table 22: North America Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 23: North America Market Volume (Units), By Application, 2018 to 2022
Table 24: North America Market Volume (Units) and Forecast By Application, 2023 to 2033
Table 25: Latin America Market Value (US$ million), By Country, 2018 to 2022
Table 26: Latin America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 27: Latin America Market Volume (Units), By Country, 2018 to 2022
Table 28: Latin America Market Volume (Units) and Forecast By Country, 2023 to 2033
Table 29: Latin America Market Value (US$ million), By Type, 2018 to 2022
Table 30: Latin America Market Value (US$ million) and Forecast By Type, 2023 to 2033
Table 31: Latin America Market Volume (Units), By Type, 2018 to 2022
Table 32: Latin America Market Volume (Units) and Forecast By Type, 2023 to 2033
Table 33: Latin America Market Value (US$ million), By Application, 2018 to 2022
Table 34: Latin America Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 35: Latin America Market Volume (Units), By Application, 2018 to 2022
Table 36: Latin America Market Volume (Units) and Forecast By Application, 2023 to 2033
Table 37: Europe Market Value (US$ million), By Country, 2018 to 2022
Table 38: Europe Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 39: Europe Market Volume (Units), By Country, 2018 to 2022
Table 40: Europe Market Volume (Units) and Forecast By Country, 2023 to 2033
Table 41: Europe Market Value (US$ million), By Type, 2018 to 2022
Table 42: Europe Market Value (US$ million) and Forecast By Type, 2023 to 2033
Table 43: Europe Market Volume (Units), By Type, 2018 to 2022
Table 44: Europe Market Volume (Units) and Forecast By Type, 2023 to 2033
Table 45: Europe Market Value (US$ million), By Application, 2018 to 2022
Table 46: Europe Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 47: Europe Market Volume (Units), By Application, 2018 to 2022
Table 48: Europe Market Volume (Units) and Forecast By Application, 2023 to 2033
Table 49: East Asia Market Value (US$ million), By Country, 2018 to 2022
Table 50: East Asia Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 51: East Asia Market Volume (Units), By Country, 2018 to 2022
Table 52: East Asia Market Volume (Units) and Forecast By Country, 2023 to 2033
Table 53: East Asia Market Value (US$ million), By Type, 2018 to 2022
Table 54: East Asia Market Value (US$ million) and Forecast By Type, 2023 to 2033
Table 55: East Asia Market Volume (Units), By Type, 2018 to 2022
Table 56: East Asia Market Volume (Units) and Forecast By Type, 2023 to 2033
Table 57: East Asia Market Value (US$ million), By Application, 2018 to 2022
Table 58: East Asia Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 59: East Asia Market Volume (Units), By Application, 2018 to 2022
Table 60: East Asia Market Volume (Units) and Forecast By Application, 2023 to 2033
Table 61: South Asia & Oceania Market Value (US$ million), By Country, 2018 to 2022
Table 62: South Asia & Oceania Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 63: South Asia & Oceania Market Volume (Units), By Country, 2018 to 2022
Table 64: South Asia & Oceania Market Volume (Units), By Country, 2023 to 2033
Table 65: South Asia & Oceania Market Value (US$ million), By Type, 2018 to 2022
Table 66: South Asia & Oceania Market Value (US$ million) and Forecast By Type, 2023 to 2033
Table 67: South Asia & Oceania Market Volume (Units), By Type, 2018 to 2022
Table 68: South Asia & Oceania Market Volume (Units) and Forecast By Type, 2023 to 2033
Table 69: South Asia & Oceania Market Value (US$ million), By Application, 2018 to 2022
Table 70: South Asia & Oceania Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 71: South Asia & Oceania Market Volume (Units), By Application, 2018 to 2022
Table 72: South Asia & Oceania Market Volume (Units) and Forecast By Application, 2023 to 2033
Table 73: MEA Market Value (US$ million), By Country, 2018 to 2022
Table 74: MEA Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 75: MEA Market Volume (Units), By Country, 2018 to 2022
Table 76: MEA Market Volume (Units) and Forecast By Country, 2023 to 2033
Table 77: MEA Market Value (US$ million), By Type, 2018 to 2022
Table 78: MEA Market Value (US$ million) and Forecast By Type, 2023 to 2033
Table 79: MEA Market Volume (Units), By Type, 2018 to 2022
Table 80: MEA Market Volume (Units) and Forecast By Type, 2023 to 2033
Table 81: MEA Market Value (US$ million), By Application, 2018 to 2022
Table 82: MEA Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 83: MEA Market Volume (Units), By Application, 2018 to 2022
Table 84: MEA Market Volume (Units) and Forecast By Application, 2023 to 2033
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List Of Figures
Figure 01: Global Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 02: Global Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 03: Global Market Value (US$ million) and Volume (Units) By Region, 2023 & 2033
Figure 04: Global Market Y-o-Y Growth Rate By Region, 2023 to 2033
Figure 05: Global Market Value (US$ million) and Volume (Units) By Type, 2023 & 2033
Figure 06: Global Market Y-o-Y Growth Rate By Type, 2023 to 2033
Figure 07: Global Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 08: Global Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 09: North America Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 10: North America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 11: North America Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 12: North America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 13: North America Market Value (US$ million) and Volume (Units) By Type, 2023 & 2033
Figure 14: North America Market Y-o-Y Growth Rate By Type, 2023 to 2033
Figure 15: North America Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 16: North America Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 17: North America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 18: North America Market Attractiveness Analysis By Type, 2023 to 2033
Figure 19: North America Market Attractiveness Analysis By Application, 2023 to 2033
Figure 20: Latin America Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 21: Latin America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 22: Latin America Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 23: Latin America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 24: Latin America Market Value (US$ million) and Volume (Units) By Type, 2023 & 2033
Figure 25: Latin America Market Y-o-Y Growth Rate By Type, 2023 to 2033
Figure 26: Latin America Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 27: Latin America Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 28: Latin America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 29: Latin America Market Attractiveness Analysis By Type, 2023 to 2033
Figure 30: Latin America Market Attractiveness Analysis By Application, 2023 to 2033
Figure 31: Europe Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 32: Europe Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 33: Europe Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 34: Europe Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 35: Europe Market Value (US$ million) and Volume (Units) By Type, 2023 & 2033
Figure 36: Europe Market Y-o-Y Growth Rate By Type, 2023 to 2033
Figure 37: Europe Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 38: Europe Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 39: Europe Market Attractiveness Analysis By Country, 2023 to 2033
Figure 40: Europe Market Attractiveness Analysis By Type, 2023 to 2033
Figure 41: Europe Market Attractiveness Analysis By Application, 2023 to 2033
Figure 42: East Asia Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 43: East Asia Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 44: East Asia Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 45: East Asia Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 46: East Asia Market Value (US$ million) and Volume (Units) By Type, 2023 & 2033
Figure 47: East Asia Market Y-o-Y Growth Rate By Type, 2023 to 2033
Figure 48: East Asia Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 49: East Asia Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 50: East Asia Market Attractiveness Analysis By Country, 2023 to 2033
Figure 51: East Asia Market Attractiveness Analysis By Type, 2023 to 2033
Figure 52: East Asia Market Attractiveness Analysis By Application, 2023 to 2033
Figure 53: South Asia & Oceania Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 54: South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 55: South Asia & Oceania Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 56: South Asia & Oceania Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 57: South Asia & Oceania Market Value (US$ million) and Volume (Units) By Type, 2023 & 2033
Figure 58: South Asia & Oceania Market Y-o-Y Growth Rate By Type, 2023 to 2033
Figure 59: South Asia & Oceania Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 60: South Asia & Oceania Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 61: South Asia & Oceania Market Attractiveness Analysis By Country, 2023 to 2033
Figure 62: South Asia & Oceania Market Attractiveness Analysis By Type, 2023 to 2033
Figure 63: South Asia & Oceania Market Attractiveness Analysis By Application, 2023 to 2033
Figure 64: MEA Market Value (US$ million) and Volume (Units) Forecast, 2023 to 2033
Figure 65: MEA Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 66: MEA Market Value (US$ million) and Volume (Units) By Country, 2023 & 2033
Figure 67: MEA Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 68: MEA Market Value (US$ million) and Volume (Units) By Type, 2023 & 2033
Figure 69: MEA Market Y-o-Y Growth Rate By Type, 2023 to 2033
Figure 70: MEA Market Value (US$ million) and Volume (Units) By Application, 2023 & 2033
Figure 71: MEA Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 72: MEA Market Attractiveness Analysis By Country, 2023 to 2033
Figure 73: MEA Market Attractiveness Analysis By Type, 2023 to 2033
Figure 74: MEA Market Attractiveness Analysis By Application, 2023 to 2033
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- FAQs -
What is the Global Offshore Robotics Market Size?
The global offshore robotics market is valued at US$ 1.8 billion in 2023.
How will the Market Perform over the Forecast Period?
During 2023 to 2033, sales of offshore robotics increased at 10.5% CAGR.
Which Regional Offshore Robotics Market Accounts for a Leading Market Share?
North America tops the global offshore robotics market accounting for 31.2% market share.
Which Application Holds the Highest Market Share?
Commercial applications account for 54.4% share of global sales.
Which Sub-Segment of Application Holds the Highest Market Share?
Oil & gas exploration in the commercial application accounts for a 56.2% share of global sales.
Who are the Major Players in the Offshore Robotics Market?
Market players include Denso Corporation, ABB, Universal Robotics Technology, iRobot, Yaskawa, Fanuk, and QYSEA are majorly operating and dominating in the market.
What are the Factors Driving the Offshore Robotics Sales Growth During the Forecast Period?
Rising demand for deep sea exploration is likely to increase demand for offshore robotics.
Offshore Robotics Market