Global FPSO Market - Analysis by Water Depth, by Type of Product - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 125 | Published By - Mordor Intelligence

Report Highlights

The global FPSO market will grow from USD XX Billion in 2016 at a CAGR of XX %, and reach USD XX Billion by 2022.

A Floating Production, Storage and Offloading (FPSO) vessel is the most common type of oil and gas floating production system in use today, accounting for over 60% of all floating production systems in the world. FPSOs are either converted from oil tankers or are purpose built. With an increase in interest in offshore oil and gas production, floating production systems are becoming more and more common.

FPSOs find application especially in fields that are too far offshore for building an economical pipeline infrastructure. Most FPSOs operational today are also capable of operating in harsh environments that offshore fields present. FPSOs have an advantage over fixed production platforms in that, in the case of harsh weather conditions, they can release their mooring and riser turret systems and move away or be towed away. Once the weather returns to normal, the FPSO can return, connect its riser turret and continue production. FPSOs also offer the advantage that they can be deployed in varying water depths, from shallow to deep-water fields. FPSOs make oil extraction from small oil fields feasible. The small quantities of reserves that these fields would not justify the construction of fixed oil platforms.

North and South America are going to lead the market followed by the other regions. This is due to the increase in the investments in the exploration and production, especially in Brazil and Gulf of Mexico, which are acting as the most prospective markets for FPSOs in the Americas. Offshore West Africa, South East Asia, Australia and The North Sea form other important markets. The FPSO market can be segmented into shallow water as well as deep & ultra-deep water based on the water depths that the FPSOs operate at. Another classification of FPSOs can be done on the basis of the basis of the type of product that they produce, into oil, LPG, LNG and others.

A growing demand for energy worldwide is the main factor that is motivating the deployment of more and more FPSOs. Declining production from onshore wells are also forcing production companies to move towards deeper offshore reserves. The flexibility that FPSOs provide over fixed platforms and the elimination of the need for costly pipeline infrastructure makes FPSOs ideal for offshore deep-water reserves. The volatility in oil prices that has affected the oil and gas industry lately has not spared the FPSO market either. In addition to this, the political and territorial disputes, and environmental issues associated with offshore oil production also hinder the market. But, as the need for oil is only increasing, the oil price issue and territorial disputes will find itself being solved. 2015 has seen a fall in the volume of orders, but despite this, the study period will show a CAPEX growth.

The major companies that are discussed in this report include BP, Chevron, SBM Offshore, Shell and MODEC among others.

This report elucidates the current situation of the FPSO market around the world and studies it by product type and water depth. The report is also divided by geography into North America, Europe, Asia Pacific, South America, and Africa & Middle East. The market share of each region is analyzed and an estimate is provided for the next 5 years.  

Key Deliverables in the Study

Market analysis for the Global FPSO Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global FPSO Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
 A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

 

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