Zion Market Research Global FPSO Market, 2015–2021 | Page 3

FPSO Market
power generation and transportation sectors has made companies explore more
hydrocarbon reserves.
On the basis of type, the global FPSO market is segmented as converted FPSO systems,
new-build FPSO systems, and redeployed FPSO systems. Presently, the market is
dominated by the converted FPSO systems segment. On the other hand, the demand for
new-build FPSO systems has decreased owing to the reduced costs of oils in oil and gas
exploration industries. Based on the water depth, the market has been segmented into
shallow water, deepwater, and ultra-deepwater systems. On the basis of equipment, the
FPSO market is segmented as nitrogen generation, seawater injection, fuel gas treatment,
produced water, crude oil separation, and chemical injection.
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North America and Europe are the dominant players of the global FPSO market and are
anticipated to witness considerable growth in coming years owing to mature oil & gas
reserves. In addition, South America and East Africa are also expected to experience
significant growth due to recent offshore E&P developments and deep water oil field
discoveries. Further, Brazil is expected to emerge as a major FPSO market in this region
due to rising oil & gas activities along with considerable government support. Recent deep
sea oil & gas reserves in South China Sea, North Sea, and Gulf of Mexico are expected to
positively impact the global market growth in the near future.
Major players dominating the global FPSO market are Bumi Armada Berhad, MODEC, Inc.,
BW Offshore, Bluewater Energy Services B.V., COSCO Shipyard Group Co. Ltd., and