Spending on Remotely Operated Vehicles in the Energy Industry to total $2,496M in 2013

Wednesday 29 January 2014, Amsterdam

Analysis indicates that total spending on ROV operations, services and vehicle new builds will reach $2,496m in 2014 as ROVs are required for more inspection, maintenance, drill support and decommissioning activity than ever before.

Remotely operated vehicles (ROVs) are an integral part of almost all underwater activity conducted by the energy industry. The offshore industry of today could not function without them as ROVs perform crucial installation, inspection, maintenance, and decommission of subsea infrastructure. As activities in the offshore environment become more complex and the volume of such tasks increases, so does the demand on ROVs.  Consequently, this new report forecasts strong spending growth on ROV services and new builds.

The lead analyst of the report commented that, ‘Deepwater and ultra-deepwater E&P is underpinning spending on ROV services spending.  Drill support activity and the installation of subsea infrastructure are then complemented by inspection and maintenance activity.  The drive to enhance the life of reservoirs is also increasing the amount of tasks performed per year by the current ROV fleet.’

Ageing infrastructure is increasing the amount of decommissioning and maintenance activity required offshore. Higher safety standards, especially in North America post-Macondo, are also increasing the frequency with which such activities are executed. To carry out such work, more ROVs are needed.

The 201 page report contains 156 tables, charts and graphs that add visual analysis in order to explain developing trends for the utilisation of ROVs by the energy industry. This new report provides individual global forecasts, in terms of capital expenditure (US$), on new build ROVs and ROV services/operations for the period 2014-2024. In addition to these global forecasts, there are forecasts for six regional markets and a global forecast of CAPEX on new build AUVs (Autonomous Underwater Vehicles).  The ROV new builds market is also divided down by CAPEX on observation, inspection, maintenance and light medium and heavy work-class vehicles.

A company’s chapter provides detailed analysis and outlooks for the leading ROV manufacturers and operators. Last of all, an exclusive interview with Saab Subsea, a leading company within the ROV industry, provides expert insight alongside analysis.

The Remotely Operated Vehicles (ROVs) in the Energy Industry 2014-2024 market will be of value to current and potential future stakeholders and/or investors in the offshore energy industry. It will also benefit companies and research centres that wish to broaden their knowledge and understanding of a niche market that plays a pivotal role in the development of offshore resources worldwide.