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| The ROV Market will see CAPEX of $1.253bn in 2015 indicates Visiongain's new reportBy: Visiongain LONDON, UK, 7th of August 2015: Visiongain’s new 244 page report: Remotely Operated Vehicles in the Energy Industry 2015-2025: CAPEX on New Build ROVs & AUVs, and Spending on ROV Operations, indicates that the ROV market will see CAPEX of $1.253bn in 2015, including spending on both CAPEX on new build ROVs and spending on ROV operations. Owing to the increasing depth and complexity of operations and expanding HSQE regulations ROVs have become essential for installation, inspection, maintenance and decommissioning of offshore energy industry installations. The increasing volume, depth, diversity and complexity of operations in the offshore energy industry acts are a strong driver of innovation and spending in the market. Consequently, visiongain forecasts strong spending growth on ROV services and new builds over the period forecast. The lead analyst of the report commented that: “While the recent plunge in oil prices has led to a downturn in a range of sectors with an important share in total ROV spending (e.g. drilling and exploration, deepwater and ultra deepwater projects, EOR) the long term outlook of the ROV market remains positive. CAPEX on new builds will be the most affected over the next two years, but awareness of the long term importance of the deepwater and ultra deepwater sectors and the need for ROVs with higher specifications and depth rating will ensure a prompt recovery and growth once oil prices recovery to $70 per barrel and above. The downturn in the ROV Operations market will, in part, be mitigated by a substantial backlog, as well as by increased spending from a number of traditionally smaller subsectors (such as the expansion of SURF and trunk line activity worldwide and demand for ROVs for construction support and maintenance for FLNG, FPSO or offshore wind projects). However, given the relatively small share of such activities within the ROV operations market, only very slow growth is anticipated in 2016 following the market fall seen in 2015. Visiongain forecasts that the oil price will recover to $70-80 per barrel by 2020 and remain between $85-95 per barrel during the first half of the coming decade, acting as a strong driver of the recovery and growth of offshore operations and the ROV market. Deepwater and ultra deepwater operations will become the most important driver of innovation and spending, while the main restraints on the growth of the market in the period 2018-2025 will be the slowing growth of global energy demand and the gradual saturation of the new build market with new high specification ROVs.” With the report, the market has been broken down into the two main submarkets: ROV New Builds CAPEX & ROV Operations CAPEX. The ROV new builds market is further divided by CAPEX on observation, inspection, maintenance and light medium and heavy work-class vehicles, while the ROV Operations market is further broken down by region. Ten-year forecasts and analysis are provided for both, along with an analysis of the changing share of different categories of spending and an overview of projects and regulations driving spending in different subsectors. The report forecasts CAPEX on new build AUVs (Autonomous Underwater Vehicles) and the size of the AUV and ROV fleets, supplementing both with an analysis of current innovation patterns and shifts in the application of different vehicles. A company’s chapter provides detailed analysis and outlooks for the leading 16 ROV manufacturers and operators, providing market share analysis, of the Work Class ROV Fleet, Number of ROV Units Operated by Main Operators 2008-2015, Percentage of the ROV Fleet Operated by Main Operators from 2010-2015 and the Share of the Fleet Operated by the Three Main Operators from 2008-2015. A transcript of an exclusive interview with Subsea 7, a leading company within the ROV industry, is also included underpinning the analysis. The Remotely Operated Vehicles in the Energy Industry 2015-2025: CAPEX on New Build ROVs & AUVs, and Spending on ROV Operationsreport will be of value to existing and potential stakeholders and investors in the ROV industry. It will be useful for anyone seeking an understanding of key market dynamics, the outlook of different regional markets and subsectors, as well as insight into patterns of innovation and the impact of the oil price fall on the market. Notes for Editors If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@ About visiongain Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors. Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on. End
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