Global subsea vessel operating expenditure is set to total $122 billion (bn) during 2015-2019

Douglas-Westwood anticipates subsea vessel demand will experience accelerated growth in the coming years at a rate of 7% CAGR. Global subsea vessel operating expenditure is set to total $122 billion (bn) during 2015-2019. 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. Source: World Subsea Vessel Operations Market Forecast 2015-2019 report by marketinforesearch.

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.