Subsea Hardware Market Shows Long-Term Growth Potential
New Douglas-Westwood report available on GiiResearch.com shows deepwater hardware expenditure is forecast to grow considerably over the next five years.
FARMINGTON, CT, May 23, 2012
Global Information Inc. has announced the addition of a new market research report, "The World Subsea Hardware Market Forecast 2012-2016" by Douglas-Westwood.The subsea hardware market is expected to recover this year, following the global economic crisis and the repercussions of the Deepwater Horizon accident in 2010. Douglas-Westwood (DW) forecast that the subsea sector will continue its growth trend, reaching an annual total of $32 billion in expenditure by 2016.
Rod Westwood, Research Manager at DW, commented, "Expenditure of nearly $135 billion is forecast over the next five years on subsea hardware, an increase of 14% over the preceding five-year period. The Golden Triangle of subsea will continue to dominate upstream hardware expenditure; West Africa, GoM and Brazil, with Africa remaining the largest market. Growth offshore Brazil is driven directly by Petrobras long-term deepwater and ultradeepwater strategy."
A free sample of the full analysis is available by request at: http://www.giiresearch.com/report/dw241455-world-subsea-hardware-market-forecast-2012-2016.html
Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.