Published on January 8, 2016
1. FPSO Industry Growth Analysis By
2. Global Market Scenario of FPSO Market FPSO market is expected to see a robust growth in upcoming years Rising investment in offshore oil and gas exploration Oil and gas exploration companies have pushed exploration of oil and gas, from onshore to offshore, which in turn is driving the FPSO market growth Key opportunity of the global FPSO market lies in conversion of oil tankers, refurbishment and upgrades of FPSOs.
3. Compound Annual Growth Rate for FPSO Market At CAGR of 16.2%, Global FPSO Market to Reach US$43.39 bn by 2021 Geographically, Americas led the FPSO market in 2015 and the region is expected to continue its dominance till 2021 Additionally, Africa region is also expected to see a robust growth during the forecast period
4. Restraining Factors for FPSO Market • High capital expenditure requirement for construction or building of a new FPSO vessel • Volatile oil prices is affecting the flow of cash in the FPSO industry • Rising environmental concern related to the pollution caused by oil spills due to leakage and damage of a FPSO vessel is further • Legal complexities over proposed field and local content requirements is leading to delay in project execution and cost overruns
5. Key Players in FPSO Industry MODEC, Inc. (Japan) SBM Offshore N.V. (Netherlands) BW Offshore (Norway) Bluewater Energy Services B.V.(Netherlands) Aker Solutions ASA (Norway) Hyundai Heavy Industries Co., Ltd. (South Korea) Bumi Armada Berhad (Malaysia) Yinson Holdings Berhad (Malaysia) Teekay Corporation (Bermuda) and Samsung Heavy Industries Co., Ltd.
6. For Detail Research Report on FPSO Market http://www.transparencymarketresearch.com/pressrelease/fpso-vessels-equipments-market.htm
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