FPSO Market Size is estimated to grow at a CAGR of 14.3% during the forecast period

The global FPSO Market size is expected to grow remarkably during forecast period of 2024 to 2027, due to expanding industrialization, energy efficiency initiatives, stricter emissions regulations, demand from power generation, and retrofitting older systems. This information is published by Fortune Business Insights, in its latest report titled “ FPSO Market Size, Share & COVID-19 Impact Analysis, By Storage Capacity (Less than 1 MMBBLs, 1-2 MMBBLs, and More than 2 MMBBLs) By Water Depth (Shallow Water, Deepwater, and Ultra-Deepwater), By Construction Type (Converted and New Build), By Hull Type (Single Hull and Double Hull), By Ownership (Contractor Owned {Contractor Managed and Operator Managed} and Operator Owned {Contractor Managed and Operator Managed}), and Regional Forecast, 2020-2027"

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According to latest report published by Fortune Business Insights,  The market is projected to grow from USD 6.78 billion in 2020 to USD 17.30 billion in 2027 at a CAGR of 14.3% during the 2020-2027 period.

Top FPSO Market Size Manufacturers covered in the Market Report include:

• Petrobras (Brazil)
• CNOOC (China)
• Total (France)
• Royal Dutch Shell (Netherlands)
• Chevron (U.S.)
• ExxonMobil (U.S.)
• BP (UK)
• Equinor (Norway)
• Woodside Energy (Australia)
• Aker Solutions (Norway)
• Dana Petroleum Limited (UK)
• Vår Energi (Norway)
• Vietsovpetro (Vietnam)
• Eni (Italy)
• Dommo Energia (Brazil)
• Keppel Offshore & Marine (Singapore)
• BW Offshore (Norway)
• Teekay (Bermuda)
• Bumi Armada Berhad (Malaysia)
• SBM Offshore (Netherlands)
• Yinson Holdings Berhad (Malaysia)
• Bluewater (Netherlands)
• MISC Berhad (Malaysia)
• Modec Inc. (Japan)
• Rubicon Offshore (Singapore)
• Saipem (Italy)

Recent Key Industry Development:

 

October 2020 – SBM Offshore announced the securing of a contract to deliver the Prosperity FPSO vessel to ExxonMobil that received government approval for its third offshore development activity in Guyana. As per the contract, SBM Offshore is likely to construct, install, and operate the floating production storage and offloading vessel.

FPSO Market Report Scope [2024-2027]

Hostorical Data :2016-2018

Base Year: 2019

Report Title: FPSO Market Size, Share & COVID-19 Impact Analysis, By Storage Capacity (Less than 1 MMBBLs, 1-2 MMBBLs, and More than 2 MMBBLs) By Water Depth (Shallow Water, Deepwater, and Ultra-Deepwater), By Construction Type (Converted and New Build), By Hull Type (Single Hull and Double Hull), By Ownership (Contractor Owned {Contractor Managed and Operator Managed} and Operator Owned {Contractor Managed and Operator Managed}), and Regional Forecast, 2020-2027

FPSO Market CAGR: 14.3%

Report Coverage: Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends

Segments Covered:

• By Product
• By Application
• By Region

An Overview of the Impact of COVID-19 on this Market:

The outbreak of the COVID-19 pandemic has negatively impacted various business sectors across the world. Various impositions like lockdown, social distancing and ban on imports & exports have impacted the production and distribution of various goods and services, which were considered as non-essential by the governments. Many enterprises in the FPSO Market  were obliged to temporarily suspend operations due to the COVID-19 pandemic, in order to comply with new government rules aimed at preventing the disease’s spread. This pause in activities has a direct influence on the market’s revenue flow.

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FPSO Market Drivers:

Increasing Energy Demand Globally to Aid Market Growth

The most fundamental driver in the energy and power industry is the demand for energy. Population growth, urbanization, and economic development all contribute to increasing energy consumption. The industry must respond to meet this growing demand.

Environmental considerations are increasingly important. Concerns over climate change and air pollution are driving a shift towards cleaner and more sustainable energy sources such as renewables (solar, wind, hydro) and nuclear power.

Ensuring a stable and reliable energy supply is critical for a nation's security. This can lead to investments in domestic energy production and infrastructure.

Advances in energy storage technologies, such as batteries, are enabling the integration of intermittent renewable energy sources into the grid and increasing grid stability.The availability and accessibility of natural resources like coal, oil, gas, and minerals can significantly impact energy production and costs.

Global and Regional Market Analysis:

The market has been analyzed across five key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The FPSO Market study describes the market area, which is further segmented into sub-regions and countries/regions. This chapter of the report includes information on profit prospects in addition to market share in each country and sub-region. During the estimated time, this report includes the market share and growth rate of each region, country, and sub-region. In addition, the FPSO Market research report includes significant research data and proofs to be a useful resource record for managers, analysts, industry professionals, and other key individuals to have a ready-to-access and self-analyzed study to help grasp market patterns.

 North America (United States, Canada, and Mexico)
 Europe (Germany, France, UK, Russia, and Italy)
 Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
 South America (Brazil, Argentina, Colombia, etc.)
 The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

FREQUENTLY ASKED QUESTIONS:

• How much was the global FPSO Market worth in 2021?
• Who are the top players actively operating across the market?
• How much will the global market be worth by 2027?
• What are the key market drivers?
• Which application segment is the leading across the globe?
• At what compound annual growth rate (CAGR) is the global market projected to grow in the forecast period?

Major Points from Table of Contents

Global FPSO Market Research Report 2024-2027, by Manufacturers, Regions, Types and Applications

• Report Business Overview
  
  
  • Study Scope
  • Market Analysis by Type
  • Market by Application
  • Study Objectives
  • Years Considered
• Global Growth Trends
  
  
  • Global FPSO Market Perspective
  • Growth Trends by Region
  • Market Dynamics
  • Industry Trends
  • Market Drivers
  • Market Challenges
  • Market Restraints
• Competition Landscape by Key Players
  
  
  • Global Top Players by Revenue
  • Global Market Share by Company Type
  • Players Covered: Ranking by Revenue
  • Global Market Concentration Ratio
  • Global Market Concentration Ratio
  • Global Top 10 and Top 5 Companies by Revenue
  • Key Players Head office and Area Served
  • Key Players Product Solution and Service
  • Date of Enter into Market
  • Mergers and Acquisitions, Expansion Plans

• FPSO Market Breakdown Data by Type
  
  
  • Global Historic Market Size by Type
  • Global Forecasted Market Size by Type

• FPSO Market Breakdown Data by Application
        
  • Global Historic Market Size by Application
  • Global Forecasted Market Size by Application

• Appendix
  
  
  • Research Methodology
  • Methodology/Research Approach
  • Data Source
  • Author Details
  • Disclaimer

Continued….

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