Press release -
FPSO Market 2024 Growth Factors, Revenue, Manufacturers, Applications, Regions
Infinium Global Research added Latest Research Report titled “FPSO Market by Manufacturers, Regions, Product Type and Application, Forecast to 2024” to its Large Report database.
The main objective of this report is to define, describe, and forecast the global “FPSO” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
onshore and offshore activities to promote growth in the FPSO Market
The oil and gas companies have pushed the exploration of oil and gas from onshore and offshore areas, which is driving the growth of the FPSO market. In addition, FPSOs have also become more popular in the oil industry because of their lower cost relative to traditional offshore oil platforms. The demand for FPSO is anticipated to rise owing to the expansion in the oil and gas industries along with the incentives that are supported by the government that is boosting the growth of the FPSO market. However, construction and building of new FPSO require high initial investment, which is the restraining factor for the growth of the FPSO market. Furthermore, demand for new-build and converted FPSO vessels have increased due to the declining rate of new onshore oil discoveries to historic low levels and from technology that enables efficient deep-water oil exploration in extraordinary ocean depths. This, in turn, is providing huge growth opportunities for the key players in the FPSO market.
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South America region to contribute to growth in the global FPSO Market
South America dominated the FPSO market. The growth in the FPSO is due to the huge investment in the upstream activity related to reserves of hydrocarbons. Moreover, the National Oil Company of Brazil, Petroleo Brasileiro (Petrobras) has the most constructive plans for the development of the country's sub-salt hydrocarbon resources in the Santos and Campos basins through FPSOs. Expansion in the FPSO market in Brazil is attributed to the increasing investment in exploration of deep-water areas.
Yinson moves closer to the RM484mil sale of a stake in FPSO unit
Yinson Holdings Bhd entered into an agreement with a Japanese consortium for sale of 26% of stake in its FPSO unit in Ghana. Yinson said the proposed disposal was an opportunity for the Yinson group to partially monetize its investment in YPWAPL at an attractive price, and free up its financial resources to expand and bid for future projects.
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In a Bursa Malaysia filing, Yinson said it was selling the 53.74 million shares in YPWAPL to JJVC, whose shareholders are Sumitomo Corp, Kawasaki Kisen Kaisha Ltd (“K” Line, one of Japan’s largest shipping firms) and JGC Corp.
Report Highlights:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global FPSO market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of FPSO market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the FPSO market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the FPSO market to understand the present and future trends in this market and formulate their strategies accordingly.
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