By Kalwinder Kaur
Research and Markets has released a new report titled "The World ROV Market Forecast 2011-2015".
Increase in subsea field development activity and offshore exploration is expected to drive the demand for ROV support of offshore operations within the forecast period from 2011 to 2015.
Despite the successful deployment of ROVs in a number of areas ranging from academic research to salvage and military applications, the offshore oil & gas industry is considered to be the major commercial user. Even deepwater operations rely on this industry. This fact can be understood from the recent demonstrations in the subsea work to limit the Macondo blow-out in the US Gulf of Mexico.
An extensive period of increased oil prices and surging deepwater activity within the primary offshore oil & gas activity sector had given rise to significant orders for offshore drilling rigs. Along with massive volume of subsea construction vessels entering the future market, these rigs will drive the increasing demand for ROV.
The report covers major topics such as overview of key report findings and underlying drivers; introduction to ROV technology; recent technical developments & innovations; introduction to ROV applications; recent changes in applications; macro-economic drivers; the world ROV market with overview of market modelling process, global work-class ROV markets by expenditure, ROV days and units; capital expenditure on work-class ROV manufacture; and overview of ROV manufacturers and market shares.