Strong growth in demand for ROV support of offshore operations, driven by a significant rise in offshore exploration and subsea field development activity, is anticipated over a period up to 2015, say research specialists Douglas-Westwood (UK) in a new report.
The report forecasts that total annual expenditure on ROV support of underwater operations is expected to grow from $891m in 2010 to over $1.6bn in 2015. It adds that although ROVs are used in many sectors ranging from academic research to military applications and salvage, the largest commercial users are engaged in the offshore oil and gas industry, where systems have become an essential tool for deepwater operations. This
In the primary offshore oil and gas activity sector a long period of high oil prices and surging deepwater activity has driven orders for offshore drilling rigs to numbers not seen for decades. These rigs, together with large numbers of subsea construction vessels coming into the market in the years ahead, will drive ROV demand to new highs.
Strong growth in ROV operations expenditure is forecast for all regions outside the Middle East, with Africa set to remain the largest market, followed by Latin America and North America.
