FPSO Market, 2015-2021: Share,Industry Size, Trends and Forecast
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.
Get Free Sample Report: https://www.zionmarketresearch.com/sample/fpso-market
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.
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.
Request for TOC: https://www.zionmarketresearch.com/toc/fpso-market
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.
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.
Browse Free Report@ https://www.zionmarketresearch.com/report/fpso-market
FPSO Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Inquiry Before Buying: https://www.zionmarketresearch.com/inquiry/fpso-market
Zion Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Zion Market Research experienced team of Analysts, Researchers, and Consultants uses proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each Zion Market Research syndicated research report covers a different sector — such as pharmaceuticals, chemical, energy, food and beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports strive to serve the overall research requirement of clients.
Zion Market Research
4283, Express Lane,
Sarasota, Florida 34249, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651