ROV Market in Oil & Gas Industry to Reach Value of $2.46 Bln in 2013

ROV Market in Oil & Gas Industry to Reach Value of $2.46bn in 2013

The global market for remotely operated vehicles (ROVs) in the oil & gas industry will reach a value of $2.46bn in 2013,according to a report published by Visiongain.

The sector will experience strong growth over the forecast period as increasing expenditure in the deepwater and subsea construction markets create strong demand for ROVs.

The lead analyst of the report on ROVs in the oil & gas industry commented that ‘The market for ROVs in the oil & gas industry is a rapidly growing segment of the global offshore oil & gas market where technological advances of recent years have resulted in increasing installation of subsea infrastructure, and have allowed companies to operate in ever greater water depths. The complexity of subsea equipment and the dangers associated with operating in deepwater and ultra deepwater areas have made ROVs indispensable to the development and safety of offshore hydrocarbon projects around the world. Demand for ROVs and ROV services will grow as oil & gas companies increase their production from offshore reserves and decommissioning of old fixed production facilities increases. Due to the integral role ROVs play in the offshore oil & gas industry, investment is bound to grow strongly over the next decade’.

The ROVs in the Oil & Gas Industry 2013-2023 report, analyses this rapidly developing part of the energy market and provides insights into the drivers and restraints that will shape the market over the next decade. The report contains 123 tables, charts and graphs that add visual analysis in order to explain developing trends within the global and 6 outlined regional markets. In addition, the report provides profiles of 15 major companies operating within the market, and includes an interview providing expert insight alongside Visiongain’s analysis.

The report on ROVs in the oil & gas industry 2013-2023 will be of value to current and future potential investors into the ROV, subsea construction and deepwater markets, as well as companies who wish to broaden their knowledge of the ROV market.

Press Release, February 12, 2013

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