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Saturday, October 07, 2017 8:40:08 PM
Subsea expenditure – bottoming out in 2017
The bottom of the subsea market is likely still ahead, given the fact that subsea expenditure is relatively late in the cycle. Subsea expenditure (capex and opex) fell from USD 48 billion in 2014 to USD 43 billion in 2015 (Figure 1), a negative growth of 10%. In 2016, the market is forecast to contract by another 16% to USD 36 billion. The market is believed to bottom out next year at USD 31 billion (-14%), before it returns on a growth path from 2018. By 2020, the subsea market is estimated to reach USD 39 billion, and it is forecast to continue to grow into the first half of the 2020’s, surpassing the last high from 2014
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