World ROV Operations Market Forecast 2013-2017

Date: 2015-08

ROV Work-Class Operations Expenditure to Grow by 80%

Douglas-Westwood (DW) forecast the market for the operation of work-class ROVs through to 2017 in this sixth edition of the World ROV Operations Market Forecast. Results forecast total ROV operations expenditure of $9.7 billion, an increase of nearly 80% over the previous five-year period.

Drilling support accounts for three-quarters of expenditure between 2013 and 2017, and is expected to increase over the period by 13%. DW forecast almost 527,000 days of ROV drilling support in the next five years, of which the majority is made up of work on exploration & appraisal (E&A) wells. Expenditure on construction support accounts for a fifth of ROV operations, with repair & maintenance accounting for the remaining.

Africa is forecast to experience strong demand from subsea development wells, driven by the discovery of new deepwater provinces offshore East Africa, and will remain the largest region, followed by Latin America and Asia. The Middle East has the lowest ROV spend, and along with Norway will see decline in spend. Latin America is set to show the strongest growth of all regions.

The World ROV Operations Market Forecast 2013-2017 analyses the main factors driving demand for ROV operations and key themes include:

Market drivers – identification and discussion of key underlying drivers and their influence on the global work-class ROV operations market.
Historic and forecast activity – 2008 to 2017, segmented by region & sector.
Market segmentation – by drill support, construction support and repair & maintenance, detailed by ROV days and units.
Detailed forecasts – of ROV activities, including work requirements on subsea trees, umbilicals & flowlines, subsea processing, FPSO mooring & risers, trunkline installation, exploration & appraisal wells and subsea development wells.

The DW approach

Our market forecasting is trusted by sector players worldwide, with clients including the world’s top-10 oil & gas companies, oilfield services companies and private equity firms. Our proven process includes:

Industry consultation – discussions with a wide-range of companies including equipment manufacturers, engineering consultancies and private equity firms.
Unique and proprietary data – in house databases on E&A and development drilling and subsea field development prospects are used. Updated year round from published sources and insight gained from industry consultation.
Methodology – the number of wells drilled, both E&A and development and the associated time spent is modelled by DW, and the number of ROV drilling support operation days implied. Volume of the installation of subsea equipment is modelled to determine the number of ROV construction support days. The number of platform installations, new and existing, driven by E&A drilling growth, are modelled and imply ROV repair and maintenance days. Regional dayrates are used to determine associated market expenditure.
Market forecasts – comprehensive examination, analysis and ten-year view of ROV operations, with historic data covering the period 2008-2012 and forecast data for 2013-2017.

Why purchase the World ROV Operations Market Forecast?

The World ROV Operations Market Forecast is an excellent source of information for those seeking a timely update on this dynamic and rapidly changing industry. Geared to senior executives’ needs, the report assumes no previous knowledge of the subject area. The report provides the reader with a comprehensive understanding of the key trends involved in shaping the requirement for ROV operations.

*Concise report layout – industry background and supporting materials condensed to enable quick review*

The report is essential for ROV manufacturers, operators, support vessel owners and oil & gas company end users. It provides valuable insight for financial institutions and other investors in the ROV industry.

DW’s data and analysis are strengthened by extensive consultation with many companies from all sectors of the ROV market. Throughout the report we highlight pertinent quotes, related to specific aspects of the market.

Consistent with DW’s commitment to delivering value for our clients, all our market forecasts have a concise layout consisting of industry background and supporting materials condensed to enable quick review with ‘speed-read’ summaries of key points throughout.


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