openPR Logo
Press release

FPSO Market - Fastest Growing Sector in this Segment During the Forecast Period

08-18-2017 11:09 AM CET | Energy & Environment

Press release from: TMR Research

FPSO Market - Fastest Growing Sector in this Segment During

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.

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.

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

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.

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

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.

Get Discount @ https://www.tmrresearch.com/sample/sample?flag=D&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.

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.

Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.

Contact:

Rohit Bhisey
Head - Internet Marketing
Tel: +1-415-520-1050
Email: sales@tmrresearch.com

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 - Fastest Growing Sector in this Segment During the Forecast Period here

News-ID: 674071 • Views: 346

More Releases from TMR Research

Neuroscience Market Current Trends and Future Aspect Analysis 2018 - 2028
Advances in neuroscience research pivot on relentless urge of researchers to understand relationships between neural structures, function, and behaviour. Over the past few decades, a wide slew of neuroimaging technologies have come to the fore, expanding the horizon of the neuroscience market. In conjunction with a growing body of animal models and in vitro studies, human neuroimaging studies have been key enabler for neuroscience research. Neuroscientists have leveraged wide spectrum
Marula Oil Market | Metiista, AFRICAN BOTANICS, Lonza Group, Natural Sourcing, L …
Known to be highly beneficial for skin, the marula oil market will see demand for products based on the oil over the forecast period of 2018-2028. Some of the major brands in the skin care segment are extremely focused on using the oil as a mollifying agent. Besides, the fact that the oil is showing great results in term of cell renewal in skin is also greatly contributing to the
Lecithin Market 2028 | AMERICAN LECITHIN COMPANY, Swanson Health Products, NOW F …
Lecithin has shown great outcomes in terms providing medicinal benefits to patients, especially of cancer and dementia, thereby, creating a healthy demand for itself in the global market. And, as these, with a wide variety of chronic diseases see a massive increase in terms of incidence; the demand will only see an upward rise between 2018 and 2028. And, it is pertinent to note here that plagued with high costs
Annatto Market | Demand for Extravagant Cosmetic Products Boosts the Growth
The demand for food colors has grown significantly in recent years. This demand is expected to boost the growth of global annatto market from 2019 to 2029. Moreover, the growth of the market is also attributed to growth in the demand for packaged food products across the globe. However, the growing health concerns may limit this growth but, the hectic life schedule is projected to stimulate the consumers to incorporate

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
FPSO Market Newer Growth Advancements 2025
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
FPSO Market : Global Industry Research & Forecast 2025
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
FPSO Market Industry 2015 Market Research Report
A recent market research report published by Transparency Market Research gives a thorough analytical account of the present state of the global FPSO market and forecasts the future growth prospects of key market segments over the period between 2015 and 2021.The report, titled “FPSO Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021,” states that the market will expand at an exponential CAGR of 16.2%
FPSO Market - Global Industry Analysis & Forecast | 2025
Floating, Production, Storage, and Offloading (FPSO) Market: Snapshot Fuel consumption has increased over the years, leading to increased pressure on the production of oil and gas. By deploying floating, production, storage, and offloading (FPSO) units, this deficit can be controlled. The demand is expected to grow with increased investment in newly explored offshore oil and gas fields in deepwater and ultra-deepwater. Also, government incentives to boost offshore oil and gas exploration