Douglas-Westwood (DW) forecast subsea hardware spending is set to double to $124 billion during 2013-2017 compared to the preceding five-year period. The new third edition of Douglas-Westwood’s Subsea Hardware Market Forecast has launched analyses the market through to 2017, examining the key activity trends to provide detailed insight for major players and new entrants alike. “The prospects for the subsea hardware sector look good, however, players will face significant challenges over the forecast period,” said report lead author Angela MacCormack, an example is Brazil which accounts for 14% of our forecast subsea Capex. Project execution is a major issue for Petrobras with 70% local content requirements and engineer shortages placing pressure on the supply chain…