Market Research Report - 208640
World Subsea Vessel Operations Market Forecast 2016-2020
|World Subsea Vessel Operations Market Forecast 2016-2020|
|Published: September 25, 2015||Content info: Pages||
The recent volatility of hydrocarbon prices, coupled with excessive newbuilding programmes will result in low utilisation impacting day rates and overall expenditure over the forecast period. However, with eventual recovery at the end of the forecast period, subsea vessel day demand is set to grow at a 5.2% CAGR over the next five years. Global subsea vessel operations expenditure is expected to increase by 29% when compared to the preceding five-year period, totalling $97.7 billion (bn) from 2016 to 2020.
North America, Africa and Latin America are expected to account for 47.5% of global expenditure between 2016 and 2020. The “golden triangle” remains vital to subsea vessel demand over the forecast period despite falling oil prices, project delays and political instability associated with Africa. The development of East African gas basins in the Indian Ocean will contribute to subsea vessel demand in the latter years of the forecast period.
Asia will be the single largest market with anticipated 18.7% of expenditure over the next five years, largely driven by shallow water inspection repair & maintenance (IRM) and pipelay-related activities.
Australasia has the fastest growth rate of all of the regions at a 46.8% CAGR due to massive offshore gas field developments required to support its ambitious LNG export commitments. Activity in the Middle East will represent 9% of the total global subsea vessel expenditure.
Field development (36%) and IRM (40%) will remain the principal drivers of global subsea vessel demand and expenditure. As production in shallow water basins declines, activities in deeper water are set to increase as deepwater development becomes inevitable. However, operators will continue to invest in the optimisation of existing shallow water fields.
The ‘World Subsea Vessel Operations Market Forecast 2016-2020’ analyses the main factors driving demand for MSV, 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 of these drivers impact the subsea vessel operations market.
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.