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Global Floating Production Storage and Offloading Market 2017-2021

Global Floating Production Storage and Offloading Market 2017-2021

About Floating Production Storage and Offloading

Floating production storage and offloading vessels are offshore production facilities that club both storage and processing equipment for produced hydrocarbons. The basic design of most floating production storage and offloading vessel comprises a boat molded vessel with processing equipment or topsides on the vessel's deck and hydrocarbon storage underneath the dual hull. Floating production storage and offloading vessels store oil or gas after processing and periodically shuttle it to tankers.

Technavio’s analysts forecast the global floating production storage and offloading market to grow at a CAGR of 4.91% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global floating production storage and offloading market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Floating Production Storage and Offloading Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Bumi Armada
  • BW Offshore
  • MODEC
  • Petrobras
  • SBM Offshore
Other prominent vendors
  • Bluewater
  • MISC Berhad
  • Saipem
  • Teekay
  • Yinson Holdings
Market driver
  • Increasing popularity of floating production storage and offloading vessels
  • For a full, detailed list, view our report
Market challenge
  • Increasing use of renewable energy
  • For a full, detailed list, view our report
Market trend
  • Rise in the number of deepwater and ultra-deepwater drilling projects
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Floating Production Storage and Offloading Market 2017-2021

Technavio recognizes the following companies as the key players in the global floating production storage and offloading market: Bumi Armada, BW Offshore, MODEC, Petrobras, and SBM Offshore.

Other Prominent Vendors in the market are: Bluewater, MISC Berhad, Saipem, Teekay, and Yinson Holdings.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rise in the number of deepwater and ultra-deepwater drilling projects. As per the US Energy Information Administration, the current oil shock resulted in crude oil price as low as $30.70/bbl. in January 2016, which was the lowest since 2003. As on August 2017, the crude oil price has recovered to $51.70/bbl. Deepwater and ultra-deepwater projects on an average require the oil price to stay above $60/bbl. mark to remain profitable.”

According to the report, one driver in the market is increasing popularity of floating production storage and offloading vessels. Floating production storage and offloading vessels have been in use in the oil and gas industry for over three decades. Such vessels are effective solutions for subsea or deepwater drilling because laying down pipeline infrastructure for offshore production platforms can be very expensive. FPSOs are economical in small and marginal oil fields that deplete in a few years and therefore installing a fixed platform is not cost-effective. With floating production storage and offloading vessels in place, there is no requirement to lay down long-distance pipelines from the oil well to the onshore field.

Further, the report states that one challenge in the market is increasing use of renewable energy. Renewables have now become cost-competitive with fossil fuels and are being used as primary sources of energy in many countries. As per Eurostat, the share of renewables in the gross primary energy consumption in the EU nations is expected to rise by 4% during 2015-2020, owing to supportive government regulations. In 2016, renewable energy accounted for more than 50% share of the energy mix in many countries in Europe, including Norway, Iceland, and Sweden. This is attributed to the imposition of stringent emission norms by the governments all across Europe.

Companies Mentioned

Bumi Armada, BW Offshore, MODEC, Petrobras, and SBM Offshore, Bluewater, MISC Berhad, Saipem, Teekay, and Yinson Holdings.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Global floating production system market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - inclusions and exclusions checklist
    • Market size and forecast 2016-2021
      • Table Global - Market size and forecast 2016-2021 (units)
      • Table Global - Year over year growth 2017-2021 (%)
  • Five forces analysis
    • Table Five forces analysis
  • Market segmentation by water depth
    • Segmentation by water depth
      • Table Global floating production storage and offloading market segmentation by water depth, 2016-2021 (%)
    • Comparison by water depth
      • Table Comparison by water depth
    • Shallow water - Market size and forecast 2016-2021
      • Table Shallow water - Market size and forecast 2016-2021 (units)
      • Table Shallow water - Year over year growth 2017-2021 (%)
    • Deepwater - Market size and forecast 2016-2021
      • Table Deepwater - Market size and forecast 2016-2021 (units)
      • Table Deepwater - Year over year growth 2017-2021 (%)
    • Ultra-deepwater - Market size and forecast 2016-2021
      • Table Ultra-deepwater - Market size and forecast 2016-2021 (units)
      • Table Ultra-deepwater - Year over year growth 2017-2021 (%)
    • Market opportunity by water depth
      • Table Market opportunity by water depth
  • Regional landscape
    • Geographical segmentation
      • Table Global - Market share 2016-2021 (%)
    • Regional comparison
      • Table Regional comparison
    • EMEA - Market size and forecast 2016-2021
      • Table EMEA - Market size and forecast 2016-2021 (units)
      • Table EMEA - Year over year growth 2017-2021 (%)
    • APAC - Market size and forecast 2016-2021
      • Table APAC - Market size and forecast 2016-2021 (units)
      • Table APAC - Year over year growth 2017-2021 (%)
    • Americas - Market size and forecast 2016-2021
      • Table Americas - Market size and forecast 2016-2021 (units)
      • Table Americas - Year over year growth 2017-2021 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global liquid fuel consumption 2007-2018 (mbpd)
    • Market challenges
      • Table Global renewable investments 2000-2016 ($ billions)
      • Table Global crude oil price 2007-2016 ($/bbl)
  • Market trends
    • Rise in the number of deepwater and ultradeepwater drilling projects
    • Shift in preference toward new built floating production storage and offloading
    • Development of floating LNG
  • Vendor landscape
    • Competitive scenario
  • Vendor analysis
    • Vendor overview
    • Bumi Armada
    • BW Offshore
    • MODEC
    • Petrobras
    • SBM Offshore
  • Appendix
    • List of abbreviations
  • Explore Technavio

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