The latest industry research report on Floating Production Storage and Offloading by MRC provides a thorough analysis of the global Floating Production Storage and Offloading market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Floating Production Storage and Offloading industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.
MRC 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.
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Commenting on the report, an analyst from MRC’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.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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The research report focuses on the analysis of its major geographies, and different segments. This all-inclusive study discusses the current market development and trends, important factors driving market growth like drivers, restraints, market projections, and market structure for each region and its sub-segments. It also provides glimpses on the recent technological advancements in the market along with detailed profiles of key industry players. The report also includes an analysis of the micro and macro aspects noteworthy for the present active and the new entities apart from the study of the value chain.
Key Topics Covered in the Report:
- Comprehensive overview of parent market with market definition, classification
- Recognition of factors influencing the market scenarios and analysis of market drivers, barriers, and their impact on the market growth
- Current and future market trends, market scope and detailed market segmentation on the basis of application, region, and competitive scenario
- Value Chain Analysis, Strategic insights, and market estimations
- Facts, stats, historical data, market size forecast regarding volume and value
- Analysis of competitive landscape and assessments on a regional scale with company profiles of leading market players, finance metrics, product offerings and key business strategies and growth prospects for the projected period
- Insights on prospective opportunities and challenges, success and risk
The report brings to your attention analysis of the Floating Production Storage and Offloading market in major geographies including North America, Europe, the Asia-Pacific, and the Rest of the World. This research report provides a complete insight of the market trends and guides in making informed business decisions. It gives a clear understanding of the competitive environment, key market players, their portfolio, and strategies. It also features a technological growth map over a time and helps understand its impact on the market.
Market Scope
The research report takes different facets into consideration to scrutinize the global Floating Production Storage and Offloading industry. It brings to your attention market overview, market trends and future outlook, market growth and dynamics, market challenges and opportunities, competitive landscape, and potential investment segment.
Report Details @https://marketreportscenter.com/reports/562344/global-floating-production-storage-and-offloading-market-2017-2021
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