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Westwood’s World Subsea Vessel Operations & Hardware Market Forecast analyses the factors influencing the global subsea market, with detailed insight on both the subsea hardware and vessel operations demand and supply trends. Hardware expenditure, vessel-day demand and expenditure are analysed, with commentary on segmented regional outputs.
Subsea Vessel Operations and Hardware Expenditure Forecast to Total $141bn over the 2018-2022 Period
Westwood is forecasting subsea vessel operations and hardware expenditure to total $141.1bn over the 2018-2022 period. Following three weak years of order activity, the industry appears to be past the bottom of the cycle and has seen a 108% increase in greenfield project sanctioning offshore compared with 2016. This is supported by positive macro drivers in the near and long-term, albeit the recovery remains fragile and dependent on OPEC discipline.
Global Subsea Vessel Operations & Hardware Expenditure and Vessel Day Demand 2013-2022
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The World Subsea Vessel Operations & Hardware Market Forecast 2018-2022 is presented using Westwood’s proprietary database, with detailed insight on both the subsea hardware and vessel day demand by vessel type in 15 distinct countries & regions. This market forecast is based on a thorough scrutiny of data which enables the forecasts to be built on a project-by-project basis enabling us to consider various market conditions which further complement our detailed evaluation of market activity and anticipated market development.
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