A FPSO vessel is a ship-shaped offshore, self-sustaining, seaworthy platform able to produce oil, continuously over the life of an oil field. FPSO eliminates the need for uploading expensive long-distance pipelines to an onshore terminal. Moreover, in case of bad weather, FPSO releases risers/mooring and steam to safety. Certainly, there are several factors that augments the growth of the global market, such as growing investment in deep and ultra-deep exploration of oil reserves along with advancement in subsea technologies.
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The global FPSO vessel market is further analyzed on the basis of geographical regions, including North America, Europe, Asia-Pacific, and Rest of the World. Among these regions, Rest of the World, which includes South America and Middle East and Africa, is projected to hold a significant share in the global FPSO vessel market in 2018. The development of large capacity new build FPSO vessel for ultra-deep oil fields across the Middle East and Africa, particularly in Angola and Nigeria, is one of the prominent factors for the growth of the FPSO market in rest of the world. In South America, the supportive government initiatives to the state-owned companies for oil field exploration, is a major factor for the market growth in the region. The major offshore fields situated in South America includes Campos and Santos. In February 2019, Petroleo Brasileiro S.A. announced the development of offshore field in Brazil Lula Field, with which the company is planning to reach 7.5 million barrels per day by 2030.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
The Report Floating Production Storage and Offloading (FPSO) Vessel Market Segmentation
By Type
- Converted
- New build
- Redeployed
By Application
- Shallow Water
- Deep Water
- Ultra-Deep Water
By Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers:
- Comprehensive research methodology of the global FPSO vessel market.
- This report includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global FPSO vessel market.
- Insights about market determinants which are stimulating the global FPSO vessel market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
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