openPR Logo
Press release

FPSO Market Key Players 2025 | Sembcorp Marine Ltd., COSCO Shipyard Group Co. Ltd.

01-24-2020 12:52 PM CET | Energy & Environment

Press release from: TMR Research

TMR Research

TMR Research

Global FPSO Market : Snapshot

A floating production, storage, and offloading unit is considered as a vessel that is being used widely by a large number of gas and offshore oil industries. These vessels are used for the purpose of manufacturing and processing of hydrocarbons and further for the storage of oil. The use of FPSO vessels helps in storing oil and transporting it through a pipeline, which saves time as well as resources of the oil and gas companies. As a result, the global FPSO market is anticipated to witness a robust growth in the next few years.

Get Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=1355

A significant rise in the number of exploration activities across the globe is one of the vital factors projected to fuel the growth of the global FPSO market in the next few years. The rising focus of key players on research and development activities and new product development are predicted to generate promising opportunities in the coming years. In addition, the rising number of oil and gas exploration sites in order to cater the rising demand from consumers are projected to accelerate the growth of the global FPSO market in the near future.

Among the key regions, the developed economies, including Europe and North America are expected to experience a steady growth in the next few years. At present, the global FPSO market is growing at a rapid pace and is likely to witness a high level of competition in the coming years. The increasing number of mergers and acquisition is expected to enhance the competitive scenario of the FPSO market in the near future, encouraging the expansion of product portfolio. As a result, the overall market is likely to supplement the development of the market in the near future.

Global FPSO Market: Overview

A floating production, storage, and offloading (FPSO) unit could be a newly constructed vessel or converted oil tanker which is equipped with oil and gas processing and production facilities. An FPSO is able to carry out all the activities for which the term stands for. It is a commodious vessel which resembles the shape of a ship and finds extensive usage in extracting raw hydrocarbons from sea beds. With processing facilities provided onboard, it can also transport processed oil and gas to desired onshore locations using a shuttle tanker.

With more number of countries producing their own FPSOs and higher sales achieved by manufacturers, the world FPSO market is anticipated to rack up a staggering amount of revenue until the end of the forecast period.

Global FPSO Market: Key Trends

The substantial degree of growth witnessed in the FPSO market is predicted to be augmented by the soaring demand for enhanced productivity and controlled capital spending. With a view to achieve this, companies are looking to convert tank vessels into FPSOs. The very nature of FPSO to be able to operate at any depth, relocate to any location, and offer high return on investment is deemed to be a strong reason for its incrementing demand.

The redeployed FPSO market is prognosticated to rise above freshly converted or newly built vessels with the capability to minimize project execution timeline. Suitable for operation in medium and small offshore fields, converted FPSO poses a lesser capital cost compared to new built products.

The rising exploration activities in ultra-deep offshore fields led by maturing onshore oil and gas reserves are expected to provide an aggressive boost to the global FPSO market. More opportunities are envisaged to take birth as the need to counter difficult conditions in ultra-deep and deep sea reserves surges the demand for integrated compact systems.

Request TOC of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=1355

Global FPSO Market: Market Potential

Iran is all set to install its first ever FPSO named 'FPSO Cyrus' near South Pars in the Persian Gulf. The vessel is expected to employ pipelines to draw hydrocarbons from subsea wells. On an average, the Iranian FPSO holds the capacity to extract 30,000 barrels per day in the first production phase, which could be increased to a whopping 55,000 to 60,000 barrels per day in the second production phase.

On similar lines, Keppel Offshore & Marine will be delivering its first FPSO unit named 'John Agyekum Kufuor' to Yinson Production (West Africa) Pte. Ltd. in 2017. The vessel will be engaged by ENI Ghana Exploration & Production Limited for oil and gas processing at the Offshore Cape Three Points (OCTP) positioned in Offshore Ghana. The unit is studied to boast a 58,000 barrels per day processing capacity and 1.7 million barrel storage capacity. With an approximate 15,000 ton topside weight, it has the potential to be moored in a standard 1,000 meter water depth.

Global FPSO Market: Regional Outlook

With ample of support furnished by the government of Brazil, the country is predicted to stand out as a chief FPSO market in the South America region. The prominence of the Brazilian market could also be accredited to the elevating number of oil and gas activities. The oil field discoveries in deep water and latest offshore exploration and production developments of East Africa and South America are envisaged to help the regions register growth at a significant rate.

However, regions such as Europe and North America of the FPSO market are foretold to grow at a stagnant rate but secure a valuable share on account of their mature oil and gas reserves.

In order to curb its dependence on imports of energy resources, China is forecasted to offer profit-making opportunities for vendors in the FPSO market. Besides this, the development of offloading technologies, production advancement, surging area of ultra-deep and deep sea reserves, and maturing shallow water and inland oil and gas fields are envisioned to help China take precedence in the global market.

Global FPSO Market: Competitive Landscape

With mergers and acquisitions and fast building of product portfolio, key players in the international FPSO market are foreseen to take charge of a leading share. Some of the tough competitors in the global market are Sembcorp Marine Ltd., COSCO Shipyard Group Co. Ltd., PetroleoBrasileiro S.A., MODEC, Inc., TOTAL S.A., SBM Offshore N.V., and Samsung Heavy Industries Ltd.

Read Comprehensive Overview of Report @ https://www.tmrresearch.com/fpso-market

About TMR Research:

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today's supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients' conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Contact:

TMR Research,
3739 Balboa St # 1097,
San Francisco, CA 94121
United States
Tel: +1-415-520-1050

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release FPSO Market Key Players 2025 | Sembcorp Marine Ltd., COSCO Shipyard Group Co. Ltd. here

News-ID: 1907790 • Views:

More Releases from TMR Research

Automotive Vision System Market Share and Growth Factors Impact Analysis 2021 - 2031
Automotive Vision System Market Share and Growth Factors Impact Analysis 2021 - …
Automotive Vision System Market: Introduction A system that increases the vehicle driver's perception during night or bad weather conditions is termed as Automotive night vision system (ANVS). The system is otherwise beyond the reach of the vehicle's headlights, thereby prevents accidents at night. It can also be defined as a system which assists the driver by increasing visibility during bad whether while providing safety. Vehicle which have automotive vision system integrated are
Waste Heat Recovery Market Competitive Landscape Analysis with Forecast by 2031
Waste Heat Recovery Market Competitive Landscape Analysis with Forecast by 2031
Waste Heat Recovery Market: Snapshot The waste heat recovery market has been expected to reach a valuation of US$ 65.87 Bn and expand at a CAGR of 6.90% in the foreseeable years from 2020 to 2030. The growth opportunities in the waste heat recovery market are attributed to the increasing prices of electricity and energy in the emerging economies. In addition to this, government regulations and incentives are also estimated to contribute
Physical Fitness Equipment Market Current Trends and Future Aspect Analysis | Market has been expected to reach a valuation of US$ 14.8 Bn and expand at a CAGR of 3.3% in the foreseeable years from 2021 to 2031.
Physical Fitness Equipment Market Current Trends and Future Aspect Analysis | Ma …
Global Physical Fitness Equipment Market: Snapshot The physical fitness equipment market has been expected to reach a valuation of US$ 14.8 Bn and expand at a CAGR of 3.3% in the foreseeable years from 2020 to 2030. The revenue generation opportunities in the physical fitness equipment market are attributed to the increasing enthusiasm among people toward fitness. In recent years, the fitness industry has been growing at a noticeable speed owing to
Molecular Spectrometry Market Competitive Analysis and Forecast 2021-2031 | Growing Regions like North America, Europe and Asia Pacific.
Molecular Spectrometry Market Competitive Analysis and Forecast 2021-2031 | Grow …
Global Molecular Spectrometry Market: Snapshot  Molecular spectrometry examines and quantifies the response of molecules on interaction with known amounts of energy. Molecules have some energy levels that can be studied by determining the molecule's energy exchange through emission or absorbance. Molecular spectrometry involves studying emission, absorption, or scattering of electromagnetic waves by atoms or molecules to quantitatively and qualitatively study atoms, molecules or physical processes. The interaction of matter with radiation

All 5 Releases


More Releases for FPSO

Global FPSO Industry Outlook - Announced FPSO Additions by Key Operators, Scope, …
Market Research Hub (MRH) has actively included a new research study titled Q1 2019 Global FPSO Industry Outlook - Australia Leads FPSO Deployments in Asia-Pacific to its wide online repository. The concerned market is discoursed based on a variety of market influential factors such as drivers, opportunities and restraints. This study tends to inform the readers about the current as well as future market scenarios extending up to the period
FPSO Market | Key Players - MODEC, Inc., SBM Offshore N.V., BW Offshore, Bluewat …
As per the current market trends and the promising nature of the “Global FPSO Market” market, it can be estimated that the future holds positive outcomes. In order to provide a deep insight about the concerned market, Market Research Reports Search Engine would be publishing a resourceful analysis that will enclose knowledge about the regional market size, revenue and opportunity status. Readers will be offered the privilege to decode various
Q1 2017 Global FPSO Industry Outlook: Surge in Planned FPSO Delays
About 54 FPSOs are expected to start operations globally over the next four years. South America will continue to lead globally with planned deployment of around 23 FPSOs, followed by Africa and Europe by 2021. Among countries Brazil continues to be the leader, followed by the UK and Angola. Petrleo Brasileiro S.A. and Royal Dutch Shell Plc and Cobalt International Energy Inc are expected to be key global players among
Global FPSO Industry Outlook Q1 2017 : Surge in Planned FPSO Delays
“The Report Q1 2017 Global FPSO Industry Outlook: Surge in Planned FPSO Delays provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz” About 54 FPSOs are expected to start operations globally over the next four years. South America will continue to lead globally with planned deployment of around 23 FPSOs, followed by Africa and Europe by 2021. Among countries Brazil continues to
Global FPSO Market: Redeployed FPSO Systems Score High in Demand, Says TMR
According to Transparency Market Research, the competitive landscape in the global floating, production, storage, and offloading vessels is expected to grow stronger over the coming years. Mergers and acquisitions are among the more common consolidation strategies being carried out in the market. The market was led in 2015 by players such as Bumi Armada Berhad, Bluewater Energy Services B.V., and BW Offshore. The TMR research report reveals that the global FPSO
Q1 2017 Global FPSO Industry Outlook: Surge in Planned FPSO Delays
ReportsWorldwide has announced the addition of a new report title "Q1 2017 Global FPSO Industry Outlook: Surge in Planned FPSO Delays" to its growing collection of premium market research reports. About 54 FPSOs are expected to start operations globally over the next four years. South America will continue to lead globally with planned deployment of around 23 FPSOs, followed by Africa and Europe by 2021. Among countries Brazil continues to be