Global Floating Production Storage and Offloading Market
The GMI Research forecasts that the Floating Production Storage and Offloading Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the increased focus on offshore exploration and production activities, and rising exploration in deep- and ultra-deepwater.
Introduction of the Floating Production Storage and Offloading Market
A floating production storage and offloading (FPSO) is a vessel used by the offshore oil and gas industry to produce and process hydrocarbons, and store oil. FPSO vessel is designed to receive hydrocarbons produced by itself or from nearby platforms or subsea template.
Key Players of the Global Floating Production Storage and Offloading Market:
- Chevron
- Keppel offshore & ltd.
- Sembcorp Marine Ltd
- Exxonmobil
- Alenia Aeronautica
- Shell
- Sembcorp Marine Ltd
- Cosco Shipyard Group Co. Ltd
- Total S.A.
- Petroleobrasileiro s.a.
- AGCO Corporation.
- Cassidian
- SBM Offshore N.V.
Floating Production Storage and Offloading Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Rapid globalization and increasing trade activities across the developed and emerging nations are projected to proliferate the growth of the global floating production storage and offloading market. In accordance with the World Trade Organization Report, developing countries exported a total of USD 8,779 Billion, which includes exports of fuels and mining products, with USD 193 Billion were from least developed countries. In addition, the surging demand for production and transportation for crude oil to support the automotive sector will further supplement the market growth. For example, the yearly consumption of oil is about 30 Billion barrels. The swift increase in oil extraction due to the growing petrochemical industry for the transportation industry strengthens floating production storage and offloading market size.
However, aggravating investment needed for the installation will hinder the market growth. The inflated capital cost to load and unload the oil from sub-sea oil wells and platforms, gas, and store separate further curbs the market growth.
Floating Production Storage and Offloading Market Segmentation:
Segmentation by Type
- Converted
- New-Build
Segmentation by Hull Type
- Tri-Hull
- Flat Bottom
- Displacement Hulls
- Planing Hulls
- V-Bottom
- Others
Segmentation by Propulsion
- Self-propelled
- Towed
Segmentation by Usage
- Ultra-Deepwater
- Shallow water
- Deepwater
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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