World Subsea Vessel Operations Market Forecast 2015-2019

Date: 2015-08

Subsea Vessel Demand to Accelerate

Douglas-Westwood (DW) anticipates subsea vessel demand will experience accelerated growth in the coming years at a rate of 7% CAGR. In DW’s new ‘World Subsea Vessel Operations Market Forecast’, global subsea vessel operating expenditure is set to total $122 billion (bn) during 2015-2019.

Asia will be the single largest market with 20% of global expenditure in the next five years, mainly driven by shallow water inspection repair & maintenance (IRM) and pipelay-related activities. Deepwater Gulf of Mexico, West Africa and Brazil are expected to account for 40% of global expenditure. Africa alone is set to represent 16% of the market, with the majority associated with deepwater field developments in both traditional Gulf of Guinea markets, such as Angola and Nigeria, as well as the new Indian Ocean growth markets of Mozambique and Tanzania (East Africa). Australasia has the fastest growth rate of all regions with a CAGR of 21% through the forecast period, due to a backlog of high profile gas developments intended to support the region’s ambitious LNG export commitments.

Field development (37%) and IRM (39%) will remain the primary drivers of global subsea vessel spending as new projects move towards deeper waters and operators continue to invest in the extension and optimisation of existing fields.

The World Subsea Vessel Operations Market Forecast 2015-2019 analyses the main factors driving demand for ROVSV, DSV, Flexlay, LWIV and Pipelay Vessels, supported by analysis, insight and industry consultation and includes:

Drivers & indicators – a review of factors influencing subsea markets including growing global energy demand; continued development of offshore reserves; oil & gas prices; field complexity, technology and cost evolution; the role of deepwater and how all these drivers impact on the subsea vessel operations market.
Vessel fleet supply-side analysis – global vessel supply trends for DSVs, MSVs, Flexlays, Pipelays and LWIVs with historic vessel deliveries from 1965-2014 and vessel supply expressed in total vessel days, segmented by vessel type.
Regional analysis – expenditure and vessel demand by market with trend commentary for Africa, Asia, Australasia, Eastern Europe & FSU, Latin America, Middle East, North America, Norway, UK and Rest of Western Europe.

Why purchase the World Subsea Vessel Operations Market Forecast?

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

The report is essential for financial institutions, equipment manufacturers, offshore engineering, construction, operations & maintenance companies and contractors, drilling operators, oil & gas companies and government agencies & departments wanting to make more informed investment decisions.

Our proven approach includes:

Unique and proprietary data – updated year-round from published sources and insight gained from industry consultation.
Detailed methodology – the report uses a unique market model specifically developed in collaboration with leading subsea industry participants. Based on the DW proprietary databases covering vessels and offshore oil and gas developments, the report includes a market forecast with analysis based on unique data.
Comprehensive analysis – by vessel demand for key subsea sectors from 2010 to 2019. Expenditure and vessel day demand segmented by field development, IRM and subsea well intervention.
Concise report layout – 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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