Deepwater exploration is the investigation and research of various conditions on the seabed for numerous scientific or commercial purposes. The sea and the ocean still remain largely unexplored as this type of exploration is relatively new, and relies heavily on modern equipment. The increasing demand for fossil fuels has intensified the deepwater and ultra-deepwater exploration by the petroleum companies. The exploration requires precise and elaborate methods with minimal scope for errors, as the conditions are very extreme.
End User Industry
The end user industries for the deep water and ultra-deepwater activities are oil and gas sector companies. These companies need the underwater research to find feasible and profitable zones for offshore drilling activities. Archaeology is another industry in which the remains of various historical facts are researched. The tourism industry also utilizes deep-water research to a certain extent which includes adventurous activities like scuba diving.
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The companies in the oil and gas sector are the major contributors to deep water and ultra-deep water research. However, the process is pretty expensive and has a major impact on the company profits. On the other hand, the growing demand for energy is driving the research. So, the companies have to find out the optimum balance which would be dedicated to these types of research activities.
The deep water and ultra-deep water exploration and production market can be segmented on the basis of the researchers involved. The exploration can be done by professional divers, in which they are covered by specially designed metal chambers which help in protecting them; or it can be done via unmanned submersibles, in which no human enters the research zone.
North and South America are the major regions of the deep water and ultra-deep water research market. The APAC region is one of the fastest growing markets with the increase in investments around the energy and exploration fields. Africa, especially the eastern region, has a lot of scope for underwater research as a major part of the continent is surrounded by water bodies.
A major part of the ocean body is still undiscovered and there is huge potential for ultra-deepwater research. The opportunities in this market are immense as an increasing number of firms or government projects are utilizing the services of deep water and ultra-deep water research activities. The increase in innovation and the development in the technological area helps the divers or unmanned submersibles to explore deeper levels of the sea. Scuba diving is a sport in which underwater diving equipment is required, and this also contributes to the tourism industry of that particular nation.
The key players are CGG, DSME, Aker Solutions, MODEC, Saipem, Petronas, Polarcus, Shell, Subsea 7, WesternGeco, FMC Technologies, Seabird Exploration, Ensco Plc, Noble Corporation Plc, and Diamond Offshore Drilling.
Report Contents Regional Analysis Report Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
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Middle East and Africa
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Rest of Middle East and Africa
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