Report Details

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 decommissioning 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, visiongain forecasts strong spending growth on ROV services and new builds.

Europe is the only region that will see declining demand for ROV services as North Sea production and drilling activity declines. However, decommissioning and maintenance activity supports spending levels.

Deepwater and ultra-deepwater E&P is underpinning spending on ROV services. 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. Utilisation rates are up and the fleet continues to expand year-on-year.

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.

Offshore gas developments, especially offshore Australia, in the Eastern Mediterranean and East Africa, are creating new demand for ROV services. They are trends that will play a larger role determining ROV spending in the future as the cost of extracting and processing gas from remote offshore fields has a lower cost burden (re FLNG).

Visiongain calculates that spending on ROVs will total $2,496m in 2014. The ROV market is composed of spending on (1) ROV operations and services and (2) new build ROVs. The latter is driven by demand for the former, although low retirements for ROVs and the ability to improve and adapt current vehicles puts a downward pressure on new build spending.

Why you should buy The Remotely Operated Vehicles (ROV) in the Energy Industry 2014-2024

What is the future of the remotely operated vehicles market? Visiongain's comprehensive analysis contains highly quantitative content delivering solid conclusions benefiting your analysis and illustrates new opportunities and potential revenue streams helping you to remain competitive. This definitive report will benefit your decision making and help to direct your future business strategy.

Avoid falling behind your competitors, missing critical business opportunities or losing industry influence. In our new report you will discover forecasts from 2014-2024 for ROV services and new builds divided by ROV type and region. The report also comprehensively lays out the market drivers and restrainers, risks and trends, and leading companies and their strategies in order to help the reader make a balanced decision regarding their investment or involvement. Read on to discover the future market prospects for the ROV market.

Why choose visiongain business intelligence?

Visiongain's increasingly diverse sector coverage strengthens our research portfolio. The growing cross-sector convergence of key verticals and the interplay of game changing technologies across hitherto unrelated industries are creating new synergies, resulting in new business opportunities for you to leverage.

As such, visiongain's team of London based in-house analysts offer a wealth of knowledge and experience to inform your strategic business decisions. Let visiongain guide you.

We guarantee that you will receive key information which will benefit you in the following way

• View market forecasts and analysis of ROV new builds and services from 2014-2024 to ke

Table Of Contents

1. Executive Summary

1.1 Global ROV Market Overview
1.2 Benefits of This Report
1.3 Who is This Report For?
1.4 Methodology and Market Definition
1.5 Global ROV Market Forecast 2014-2024
1.6 Regional ROV Market Forecasts 2014-2024
1.7 Global AUV Market Forecast 2014-2024

2. Introduction to the ROV Market

2.1 Remotely Operated Vehicles in the Energy Industry
2.2 Brief History of ROVs
2.3 Types of ROV
2.4 ROV Tasks in the Energy Industry
2.5 ROVs in the Energy Market: Market Definition and Structure

3. Global Market Forecast for ROVs in the Energy Industry 2014-2024

3.1 What Are the Core Drivers and Restraints Affecting CAPEX on ROV Operations, Services and Construction Worldwide?
3.2 What Activity Type is Currently the Most Important to Spending on ROVs?
3.3 ROV Demand Cycle
3.4 What Are The Most Prominent Regional Trends In The Energy Industry Affecting CAPEX On ROVs?

4. ROV Submarket Forecasts 2014-2024

4.1 Global ROV Operations/Services Submarket 2014-2024
4.1.1 How Will Offshore Oil and Gas EandP Activity Affect ROV Utilisation Rates?
4.1.2 How Much Demand Growth is Expected for Offshore Maintenance/Inspection Activity and What Impact Will This Have on ROV Demand?
4.1.3 How Does the Decommissioning Market Affect the ROV
4.1.4 What Are The Main Restraints on the ROV Operations and Services Submarket?
4.2 Global CAPEX on New Build ROVs 2014-2024
4.2.1 Drivers and Restraints on ROV New Build CAPEX
4.2.2 Who Manufactures ROVs?
4.2.3 Which Regions Contain Dominant ROV Manufacturers and Why?
4.2.4 How Likely Is It That There Will Be An Increase in the Regional Diversity of ROV Construction?
4.3 Global CAPEX on New Build Observation, Inspection and Light Work Class ROVs for the Energy Industry
4.4 Global CAPEX on Medium- and Heavy-Work Class ROVs for the Energy Industry

5. Regional ROV Market Forecasts 2014-2024

5.1 ROV Markets Barriers to Entry Analysis
5.1.1 Regional Markets Barriers to Entry Analysis
5.1.2 What Are The Barriers to Becoming a Manufacturer and/or Operator of an ROV(s)?
5.1.3 ROV Submarket Barriers to Entry Analysis
5.2 ROVs in the European Energy Industry Market Forecast 2014-2024
5.2.1 Drivers and Restraints on the European ROV Market
5.2.2 Major European Subsea Hardware Installation and Offshore Drilling Projects
5.2.3 How Great Will Offshore Maintenance Requirements Be in Europe?
5.2.4 How Important is Offshore Decommissioning to ROV Demand in Europe?
5.2.5 UK Offshore Decommissioning
5.2.6 Norwegian Decommissioning
5.2.7 Will A Slowdown in Offshore EandP Activity to Affect European ROV Demand?
5.3 ROVs in the North American Energy Industry Market Forecast 2014-2024
5.3.1 Drivers and Restraints on the North American ROV Market
5.3.2 Major North American Subsea Hardware Installation and Offshore Drilling Projects
5.3.3 What Influence Will Safety Regulations Have on ROV Demand in the Gulf of Mexico?
5.3.4 What Will The Impact of Mexican Constitutional Changes Be On ROV Demand?
5.3.5 What Impact Will Decommissioning Activity In The Gulf of Mexico Have On The North American ROV Market?
5.4 ROVs in the South American Energy Industry Market Forecast 2014-2024
5.4.1 Drivers and Restraints on the South American ROV Market
5.4.2 Major South American Subsea Hardware Installation, FPSO Installation and Offshore Drilling Projects
5.5 ROVs in the African Energy Indus

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