(PRWEB UK) 8 March 2013
According to the new report 'ROVs in the Oil & Gas Industry 2013-2023' the world Remotely Operated Vehicle (ROV) market has been growing rapidly in recent years. The main reason for this development has been the advancement in offshore technologies which has lead to the introduction of more complex sub-sea infrastructure and to an increase in exploration and production spending, particularly in deepwater and ultra deepwater regions.
According to the 119 page report, as expenditure in deepwater areas and on subsea infrastructure around the world grows, ROV market will become an increasingly critical aspect of offshore oil and gas development. The positive growth forecast for the development of the deepwater market and subsea infrastructure market along with the increased focus on safety and security mean that ROVs will take on an even more important role in the oil and gas business throughout the coming decade. As a consequence, the report has determined that the value of the market for ROVs in the oil & gas industryin 2013 will reach $2,458m.
View the report: ROVs in the Oil & Gas Industry 2013-2023