Global floating production storage and offloading (FPSO) market was valued at around US$ 25 Bn in 2017 and is anticipated to expand at a CAGR of around 12% from 2018 to 2026
Albany, NY -- (SBWIRE) -- 08/09/2018 -- The rapidly changing and complex global market for FPSO is the focus of analysis of a recent market intelligence report added to the vast portfolio of Market Research Reports Search Engine (MRRSE), which is titled as "FPSO Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2026". This 255-page study has been prepared with the help of primary and secondary research methodologies. Industry and consumer surveys and inputs from industry experts have been extensively used for this study. With an extensive forecast of 2017-2026, the study highlights opportunities in the FPSO market at the global and regional levels.
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Initially, the market overview section of the study includes market snapshot that provides overall information of various segments and sub-segments. The study further gives a detailed overview of the key drivers, restraints, and trends in the market that are projected to have a major influence on the present and future development of the market. According to the study findings, the global floating production storage and offloading (FPSO) market was valued at around US$ 25 Bn in 2017 and is anticipated to expand at a CAGR of around 12% from 2018 to 2026.
The offshore oil and gas industry use FPSO's for processing and storage of oil and gas prior to either offloading it to a tanker or being transported through a pipeline. It has been analyzed that the diminution of existing oil and gas fields is leading to a rise in concerns regarding the exploration of new oil and gas fields in a bid to meet energy requirements in the near future. Due to this, oil and gas exploration companies have encouraged the exploration of oil and gas from onshore to offshore areas, which, as a result, is driving growth of the FPSO market.
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Geographical and Segmental Landscape
In a bid to offer detailed insights, the analysts of the market have segmented the global FPSO market on the basis of In terms of type, the FPSO market can be classified into converted, new-build, and redeployed. By operator, the study covers small independent, large independent, leased operator, and major national oil companies (NOC's). Major applications include shallow water, deep water, and ultra-deepwater. Based on hull, the market can be classified into single hull and double hull. In terms of propulsion system, the market can be categorized into self-propelled and towed. Each segment has been discussed in the study precisely.
The next section enlightens the readers about market growth in some of the major regions including Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Of these, Latin America holds the significant market share in the global market.
At last, the concluding section of the report deals with the company market share analysis of key players operating in this industry including Bluewater Energy Services B.V., MODEC, Inc., Yinson Holdings Berhad, SBM Offshore N.V., BW Offshore, Bumi Armada Berhad, and Teekay Corporation.
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