Selbyville, DE -- (SBWire) -- 11/29/2018 --MarketStudyReport.com Adds New FPSO Market 2016– 2024 research report providing information and data By Product, By Water Depth, Industry Analysis, Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast spreading across 94 Pages with table and figures in it.
U.S. FPSO market size may exceed USD 20 billion by 2015. Increasing exploration and production of natural gas, increasing offshore activities, discovery of unexploited reservoirs will further compliment the growth.
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Major industry participants include Samsung Heavy Industries Co. Ltd, Hyundai Heavy Industries Co. Ltd. (South Korea), SBM Offshore, MODEC Inc. (South Korea), (Japan), BW Offshore, Yinson Holdings Berhad (Malaysia), Teekay Corporation (Bermuda), Bluewater Energy, and Aker Solutions ASA (Norway).
FPSO Market size is expected to reach over USD 117 billion by 2024. Increasing demand of tank vessel conversion into offloading and floating production storage owing to its low cost coupled with enhanced productivity will drive the global FPSO market during the forecast period. Converted FPSO market in terms of volume was 9 units in 2015, projected to witness gains over 18% subject to its low cost when compared with new built construction. These vessels find wide applications in shallow and deep-water offshore field.
Norway is forecast to reach above USD 3.1 billion in 2024. Growing exploration activities in the country is likely to drive industry growth up to 2024.
Redeployed FPSO market size was valued over USD 719 million in 2015, anticipated to witness gains at above 22.3%. It reduces the execution timeline when compared with new built.
Increasing production and exploration in ultra-deep offshore fields will drive new built FPSO market in the near future. Shifting of E&P activities toward offshore field has witnessed moderate growth rate subjected mainly by ultra-deep activities.
Mobil and Chevron have offshore project in Angola adding capacity is approximately 1MMbbl/d.
China was valued at over USD 687 million in 2015 and is expected to witness a significant growth. Increasing production and exploration activities at onshore and offshore fields will propel the China FPSO market over the near future.
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Increasing exploration activities in ultra-deep water of offshore field will further compliment the industry in near terms. Global FPSO market size is classified on the basis of products as converted, new-built, and redeployed. Converted product accounted for over 63% of global revenue in 2015 owing to increasing offshore E&P activities.
Shallow water depth FPSO is projected to expand at over 19.5% during the forecast period.
Angola is estimated above 11 units in 2024 in terms of volume and is estimated to grow at over 26.4% CAGR subjected to increasing exploration and production of deep-water reserves. Exxon
FPSO market research report includes in-depth coverage of the industry, with estimates &forecast in terms of volume in units &revenue in USD million from 2013 to 2024, for the following segments:
FPSO Market By Product:
Converted
Redeployed
New Built
FPSO Market By Water Depth:
Shallow Water
Deep Water
Ultra-Deep Water
Table of content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. FPSO Industry Insights
Chapter 4 FPSO Product Insights
Chapter 5 FPSO Water Depth Insights
Chapter 6. FPSO Regional Insights
Chapter 7. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/fpso-market
Related Report:
2018 Global FPSO Vessels Industry Report - History, Present and Future
The global market size of FPSO Vessels is $XX million in 2017 with XX CAGR from 2013 to 2017, and it is expected to reach $XX million by the end of 2023 with a CAGR of XX% from 2018 to 2023.
https://www.marketstudyreport.com/reports/2018-global-fpso-vessels-industry-report-history-present-and-future/?utm_source=RR-AN
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FPSO Market 2024 Key Information by Top Key Players Samsung Heavy Industries Co. Ltd, Hyundai Heavy Industries Co. Ltd., SBM Offshore, MODEC Inc., BW Offshore
Market Study Report adds 2017-2024 Global FPSO market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.