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South Africa is a country surrounded by a rich coastline that gives it an advantage for lot of marine-based commercial activities. As oil and gas industries are tapping into the African market, there is a need for the diving equipment to carry out essential operations for such industries. This blog features some of the aspects pertaining to the sphere of the industrial diving equipment market in the country.
The oil and gas industry fuels up the major demand for diving equipment kits as there is a lot of requirement for surface and subsea operations in these sectors. As South AfricaÃÂ¢ÃÂÃÂs 6% of GDP is contributed by the oil and gas sector, it sees a lot of potential in not only meeting the internal demands of the country but to also export it into the international market. Focusing on the aspects of opportunities for diving equipment, the EMEA market including South Africa is expected to see the growth of 38% in 2020.
In terms of accessing the market players, The sub-sea research commercial diving equipment market in the country is mostly driven by oil and gas industry, research and development agencies, naval organisations and port authorities.
Scope of Sub-Sea Research Diving Market in South Africa
The country has various commercial units set up on the ocean as a part of economic collaboration and development initiatives that features numerous marine activities. It includes complex oil rigs in the distant ocean boundaries operating day and night for extraction of petroleum and oil products. The large workforce working on the maintenance and operations require specialized diving equipment kits and tools to work under the sea. They also require essential control panels, cylinders, gauges, etc. to ensure utmost safety for the divers. Due to the increase in industrial activities, the demand for diving equipment can see a surge in the coming years.
Types of Commercial Diving Activities
The commercial diving activities include the dockside repairing, periodical maintenance of oil fields and taking care of underwater pipelines and cables. For these activities, the vast number of professional scuba divers are required and it needs to be fully compliant as per the safety standards of Health & Safety Act to provide them with the essential diving equipment inclusive of cylinders, BCD Regulators, decompressors, etc.
Equipment Demand for Research & Development Activities
The country also gained demand for Sub-Sea Research Diving equipment due to the increase in research and development projects as there are a large number of coral reefs and preserved shipwreck sites. There are also a large number of conserved sites where there are intense bio-diversity and marine life areas, the government keeps on taking various steps to monitor and research on a time to time basis. The presence of rich infrastructure and marine activities foster the need for diving equipment to deploy a large number of people for such kind of activities. Both government and the private sector play a crucial role in research & development activities to preserve the rich biodiversity.
Growth Rate of Diving Equipment Market
There is a lot of potential for growth and development in the diving equipment market. As per the various market research, it is expected to grow by USD 3.21 billion by 2021 pacing at the growth of 4.05%. The various driving factors include the collateral economic relations to bring investments in South Africa focusing on oil and gas sectors.
The need of the Industry: Types of Sub-Sea Research Diving Equipment
The Sub-Sea Research Diving equipment ensures a safe and secure way for professional divers to dive into water bodies and oceans. The equipment is manufactured as per the industry standards and keeps safety in the first place. The various types of equipment which are in demand are as follows:
- Diving Masks.
- Wet suits & Dry Suits
- Buoyancy Control Device
- Submersible Pressure Gauge
How Exclusive Economic Zone in South Africa will Increase the Demand of Import for Diving Equipments
South Africa has identified a large chunk of its sea area as an exclusive economic zone to invite the international and national companies to utilise its power of oil and gas tapped into the seabeds of the ocean. As the new companies will set up their oil fields and plants, it is obvious that a large number of workers will be required for on-site operations which will also include professional divers. It is expected to see a rise in demand for the import of diving equipment from countries like China. Apart from it, the rise of equipment can also force indigenous companies in South Africa to deliver in scale for the industries requiring underwater marine operations. In terms of talking about the current state, there are quite a number of companies manufacturing the diving equipment to the internal market but as the demand rise, it is expected to bring a good revenue for the country.