NEWS RELEASE February 2018
Large Combust, Flow and Treat Purchases by Offshore Oil and Gas Operators Will Accelerate Starting in 2019
The offshore oil and gas industry even at its low point this year will invest over $150 billion. While total investment has been falling the investment in IIoT and Remote O&M has been increasing. With total investment moderately increasing through 2022 coupled with accelerated IIoT investment, this market will be significant for combust, flow and treat suppliers.
One reason it will be very important is that cutting edge IIoT and remote monitoring technologies are needed due to the remote surface locations of rigs and the difficult challenges of subsea operation.
The market for guide, control and measure will grow faster than the total offshore capital expenses. Control revenues will reach $7.3 billion by 2022.
These forecasts which appear in the IIoT and Remote O&M report will also be analyzed in a free webinar on February 28
To register for the February 28 webinar click on Free Market Webinars
For information on the Guide, Control and measure market click on N031 Industrial IOT and Remote O&M
For information on the oil and gas markets, profiles and projects click on N049 Oil, Gas, Shale and Refining Markets and Projects