According to the report published by Zion Market Research, global demand for FPSO market was valued at approximately USD 18.8 Billion in 2019, and is expected to generate revenue of around USD 27.4 Billion by end of 2026, growing at a CAGR of around 5.8% between 2020 and 2026.
According to the report published by Zion Market Research, global demand for FPSO market was valued at approximately USD 18.8 Billion in 2019, and is expected to generate revenue of around USD 27.4 Billion by end of 2026, growing at a CAGR of around 5.8% between 2020 and 2026.
Global FPSO Market: Overview
FPSO stands for Floating Production, Storage, and Offloading. An FPSO vessel is a type of floating production system that is used for the offshore production, storage, and offloading of oil and gas. Usually, it is a vessel that is a converted oil tanker or a newly constructed FPSO unit. An FPSO often resembles a ship, equipped with production and processing facilities onboard. FPSOs comprise offloading facilities for the transportation of processed oil and gas to onshore receiving facilities through a shuttle tanker. These vessels are used to extract or receive raw hydrocarbons from sea beds, which are then processed in onboard processing facilities.
Global FPSO Market: Growth Factors
The installation of fixed processing and production facilities is technically very complex and costly in remote oil and gas production areas; this, in turn, increases the demand for FPSOs excluding the need for fixed processing facilities. Marginal fields and challenging environments have been others factors that act as driving factors of FPSO market expansion. The considerable expansion in oil & gas exploration and production in deep water, ultra-deep water, and offshore fields is expected to boost the global FPSO market growth over the forecast period. Increasing consumption of oil & gas globally, particularly in power generation and transportation sectors has made companies explore more hydrocarbon reserves.
Global FPSO Market: Segmentation
On the basis of type, the global FPSO market is segmented as converted FPSO systems, new-build FPSO systems, and redeployed FPSO systems. Presently, the market is dominated by the converted FPSO systems segment. On the other hand, the demand for new-build FPSO systems has decreased owing to the reduced costs of oils in oil and gas exploration industries. Based on the water depth, the market has been segmented into shallow water, deepwater, and ultra-deepwater systems. On the basis of equipment, the FPSO market is segmented as nitrogen generation, seawater injection, fuel gas treatment, produced water, crude oil separation, and chemical injection.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Global FPSO Market: Regional Analysis
North America and Europe are the dominant players of the global FPSO market and are anticipated to witness considerable growth in coming years owing to mature oil & gas reserves. In addition, South America and East Africa are also expected to experience significant growth due to recent offshore E&P developments and deep water oil field discoveries. Further, Brazil is expected to emerge as a major FPSO market in this region due to rising oil & gas activities along with considerable government support. Recent deep sea oil & gas reserves in South China Sea, North Sea, and Gulf of Mexico are expected to positively impact the global market growth in the near future.
Global FPSO Market: Competitive Players
Major players dominating the global FPSO market are Bumi Armada Berhad, MODEC, Inc., BW Offshore, Bluewater Energy Services B.V., COSCO Shipyard Group Co. Ltd., and Yinson Holdings Berhad. Other key players in the market are Sembcorp Marine Ltd., Hyundai Heavy Industries Co., Ltd., Teekay Corporation, and SBM Offshore N.V., among others.
Global FPSO Market: Regional Segment Analysis
List of Figures
FIG. 1 Research Methodology
FIG. 2 Research Methodology – Basic Overview
FIG. 3 Research Methodology – Detailed View
FIG. 4 Global FPSO Market Revenue, 2016 - 2026 (USD Billion)
FIG. 5 Porter’s Five Forces Analysis for Global FPSO Market
FIG. 6 Global FPSO Market Attractiveness, By Types
FIG. 7 Global FPSO Market Attractiveness, By Water Depth
FIG. 8 Global FPSO Market Attractiveness, By Equipment
FIG. 9 Global FPSO Market Attractiveness, By End-User
FIG. 10 Company Share Analysis, 2019
FIG. 11 Global FPSO Market Revenue Share, By Types, 2019 & 2026
FIG. 12 Global FPSO Market for Converted FPSO Systems, Revenue (USD Billion) 2016 - 2026
FIG. 13 Global FPSO Market for New-Build FPSO Systems, Revenue (USD Billion) 2016 - 2026
FIG. 14 Global FPSO Market for Redeployed FPSO Systems, Revenue (USD Billion) 2016 - 2026
FIG. 15 Global FPSO Market Revenue Share, By Water Depth, 2019 & 2026
FIG. 16 Global FPSO Market for Shallow Water, Revenue (USD Billion) 2016 - 2026
FIG. 17 Global FPSO Market for Deep Water, Revenue (USD Billion) 2016 - 2026
FIG. 18 Global FPSO Market for Ultradeep Water Systems, Revenue (USD Billion) 2016 - 2026
FIG. 19 Global FPSO Market Revenue Share, By Equipment, 2019 & 2026
FIG. 20 Global FPSO Market for Nitrogen Generation, Revenue (USD Billion) 2016 - 2026
FIG. 21 Global FPSO Market for Seawater Injection, Revenue (USD Billion) 2016 - 2026
FIG. 22 Global FPSO Market for Fuel Gas Treatment, Revenue (USD Billion) 2016 - 2026
FIG. 23 Global FPSO Market for Produced Water, Revenue (USD Billion) 2016 - 2026
FIG. 24 Global FPSO Market for Crude Oil Separation, Revenue (USD Billion) 2016 - 2026
FIG. 25 Global FPSO Market for Chemical Injection, Revenue (USD Billion) 2016 - 2026
FIG. 26 Global FPSO Market Revenue Share, by Region, 2019 & 2026
FIG. 27 North America FPSO Market Revenue, 2016 - 2026 (USD Billion)
FIG. 28 Europe FPSO Market Revenue, 2016 - 2026 (USD Billion)
FIG. 29 Asia Pacific FPSO Market Revenue, 2016 - 2026 (USD Billion)
FIG. 30 Latin America FPSO Market Revenue, 2016 - 2026 (USD Billion)
FIG. 31 The Middle-East and Africa FPSO Market Revenue, 2016 - 2026 (USD Billion)
FIG. 32 Bumi Armada Berhad Business Segment Revenue Share, 2018 (%)
FIG. 33 Bumi Armada Berhad Geographical Segment Revenue Share, 2018 (%)
List of Tables
TABLE 1 Global FPSO Market: Snapshot
TABLE 2 Drivers of the FPSO Market: Impact Analysis
TABLE 3 Restraints for the FPSO Market: Impact Analysis
TABLE 4 Global FPSO Market Revenue, by Region, 2016 – 2026 (USD Billion)
TABLE 5 North America FPSO Market Revenue, by Country, 2016 – 2026 (USD Billion)
TABLE 6 North America FPSO Market Revenue, By Types, 2016 – 2026 (USD Billion)
TABLE 7 North America FPSO Market Revenue, By Water Depth, 2016 – 2026 (USD Billion)
TABLE 8 North America FPSO Market Revenue, By Equipment, 2016 – 2026 (USD Billion)
TABLE 9 Europe FPSO Market Revenue, by Country, 2016 – 2026 (USD Billion)
TABLE 10 Europe FPSO Market Revenue, By Types, 2016 – 2026 (USD Billion)
TABLE 11 Europe FPSO Market Revenue, By Water Depth, 2016 – 2026 (USD Billion)
TABLE 12 Europe FPSO Market Revenue, By Equipment, 2016 – 2026 (USD Billion)
TABLE 13 Asia Pacific FPSO Market Revenue, by Country, 2016 – 2026 (USD Billion)
TABLE 14 Asia Pacific FPSO Market Revenue, By Types, 2016 – 2026 (USD Billion)
TABLE 15 Asia Pacific FPSO Market Revenue, By Water Depth, 2016 – 2026 (USD Billion)
TABLE 16 Asia Pacific FPSO Market Revenue, By Equipment, 2016 – 2026 (USD Billion)
TABLE 17 Latin America FPSO Market Revenue, by Country, 2016 – 2026 (USD Billion)
TABLE 18 Latin America FPSO Market Revenue, By Types, 2016 – 2026 (USD Billion)
TABLE 19 Latin America FPSO Market Revenue, By Water Depth, 2016 – 2026 (USD Billion)
TABLE 20 Latin America FPSO Market Revenue, By Equipment, 2016 – 2026 (USD Billion)
TABLE 21 The Middle-East and Africa FPSO Market Revenue, by Country, 2016 – 2026 (USD Billion)
TABLE 22 The Middle-East and Africa FPSO Market Revenue, By Types, 2016 – 2026 (USD Billion)
TABLE 23 The Middle-East and Africa FPSO Market Revenue, By Water Depth, 2016 – 2026 (USD Billion)
TABLE 24 The Middle-East and Africa FPSO Market Revenue, By Equipment, 2016 – 2026 (USD Billion)
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Marginal fields and challenging environments have been others factors that act as driving factors of FPSO market expansion.
According to Zion Market Research, global demand for FPSO market is expected to generate revenue of around USD 27.4 Billion by end of 2026, growing at a CAGR of around 5.8% between 2020 and 2026.
North America and Europe are the dominant players of the global FPSO market and are anticipated to witness considerable growth in coming years owing to mature oil & gas reserves.
Some main participants of the FPSO market are Bumi Armada Berhad, MODEC, Inc., BW Offshore, Bluewater Energy Services B.V., COSCO Shipyard Group Co. Ltd., and Yinson Holdings Berhad. Other key players in the market are Sembcorp Marine Ltd., Hyundai Heavy Industries Co., Ltd., Teekay Corporation, and SBM Offshore N.V., among others.
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