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.
Some of the key players operating in the global FPSO vessel market include Petroleo Brasileiro S.A., Bluewater Energy Services B.V., Bumi Armada Berhad, BW Offshore Group, MODEC, Inc., SBM Offshore N.V., Sembcorp Marine Ltd., and Teekay Corp. The companies are focused on the development of innovative equipment for the FPSO vessel market to stay competitive in the global market. Geographical expansion, merger & acquisition, partnerships & collaborations, finding a new market or innovate in their core competency in order to expand individual market share are some of the key strategies adopted by major market players. For instance, In July 2018, SBM Offshore N.V. has received a contract from Exxonmobil for performing Front End Engineering and Design (FEED) for a Liza project located in Guyana.
Research Methodology:
The market study of the global FPSO vessel market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary Sources Include:
- Financial reports of companies involved in the market
- Whitepapers, research-papers and news blogs
- Company websites and their product catalog
The report is intended for oil & gas industry, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.
Market Segmentation:
- Global FPSO Vessel Market Research and Analysis by Type
- Global FPSO Vessel Market Research and Analysis by Application
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.
