Strategic Offshore Research

How many times does a troublesome child hear the plea, grow up? Or be told to go and tidy their room? A lot. Probably multiple times every day. If the child hears the phrase enough eventually it must stick. Suddenly the subsea market seems to have grown up. 

Now the market doesn’t seem to have to listen to mother. Or be told to think before doing something that turns out to be stupid or skins a knee. And isn’t caught out by unexpected consequences from earlier actions. Not that nagging makes any difference to anyone in the end. The subsea market has grown up in a hurry and is ushering in a new age.

For the subsea market what’s made the difference is consolidation. And not just play nice or no supper two small companies promising to be best friends forever consolidation, proper consolidation. Three into two isn’t a traditional sum, but when companies of the scale of Acergy and Subsea 7 come together, and Technip is the other big player, then that sum can turn into a nice little earner. That’s tidied up the market like a twister crashing through town. Other players might be there, but they are much smaller and new competition has been surprisingly shy and slow to come out to play. But the commercial landscape is already massively changed.

Consolidation is inescapable and might have some screaming until they are sick. Coupled with a troublesome tyke of a spike in the North Sea and an international market that keeps outgrowing its clothes, then you have a recipe for some sort of scene. But with the biggest players all grown up, then their relationship with the end clients, and vessel owners too, has changed and certainly isn’t as simple.

When the market is full of twists and turns anyway, consolidation’s implications have to be factored in too. A lot has changed, and a lot more will change. All sides of the market better be ready for that. The game isn’t in the playground any more and all the rules have changed.

The brand new edition of Strategic Offshore Research’s Global Subsea Market report  goes out to and includes 2015. The report breaks down all of the market’s less than straightforward drivers and multiple segments they impact on. It makes real sense of what the raw numbers mean for the market both in terms of trends, future prospects and, more importantly, money. Also included are different forward market scenarios, and detailed contractor analysis. For further details contact Jo Slade at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or telephone +44 (0) 1224 498020.