Skip to main content

FPSO Market Size, Share & COVID-19 Impact Analysis, By Storage Capacity

 

The global FPSO Market is experiencing a large number of long-term agreements between various industry participants.

Get More Info: https://www.fortunebusinessinsights.com/industry-reports/fpso-market-100429  

These contracts involve building and operating the vessels such as front-end engineering and design (FEED), operations & maintenance, commissioning, and technology upgrading. For instance, in September 2020, SRO Solutions, a U.K. based technology company, announced the complete digitalization of a couple of floating production storage and offloading vessels owned by MODEC in Ghana.

Increasing Energy Demand Globally to Aid Market Growth

Various emerging and developed countries have observed a significant increase in energy consumption over the years. The rising need for reliable fuel sources such as oil, gas, and other petrochemicals from power generation stations to operate various machinery is set to boost the floating production storage and offloading market. For instance, in September 2019, the U.S. EIA anticipated that over half of the global energy consumption increase will incur from the non-Organization for Economic Co-operation and Development (OECD) Asian nations India and China by 2050. Additionally, the report projected that the energy intake would almost double in the region, with India and China being significant contributors to the demand upsurge.

KEY INDUSTRY DEVELOPMENTS:

  • December 2020 – SBM Offshore extended its prevailing contract with Shell for leasing of Espirito Santo FPSO located in Brazil. The extension will last for five years, with the new operational period from December 2023 to December 2028.
  • November 2020 – Keppel Offshore & Marine secured an order worth about USD 75 million from an unknown customer to deliver conversion work for an FPSO vessel. The contract involves fabrication & integration operations for components like riser balconies, topside modules, and spread mooring support, among other service

The research and business intelligence report offer an in-depth analysis of the market. It further provides details on the adoption of the product across several regions. Information on trends, opportunities, drivers, restraints, and threats of the market can further aid stakeholders in gaining valuable insights into the market. The report offers a detailed competitive landscape by presenting information on key players and their strategies in the market.

 

Comments

Post a Comment

Popular posts from this blog

Cold Thermal Energy Storage Market Growth Drivers & Opportunities 2023-2028

  The Cold Thermal Energy Storage Market size is expected to touch USD 616.6 million by 2028, exhibiting a CAGR of 14.1% during the forecast period. The market was valued at USD 227.9 million in 2020 and reached USD 244.7 million in 2021. Market Trends [2023-2028]: Cold Thermal Energy Storage Market Size, Share & COVID-19 Impact Analysis, By Application (Buildings {Residential, Commercial, Warehouse}, Industrial {Meat Processing, Dairy, Beverages, and Others}) and Regional Forecasts, 2021-2028 The global market is majorly driven by the increasing demand for unconventional sources of energy. This, along with the growing awareness about the detrimental effects of carbon emissions on the environment, is positively influencing market growth. Furthermore, the increasing support by the governments of various countries and rising investments and funding in research and development activities are significantly contributing to the market growth.  The  Cold Thermal Energy Storage Market 2023
Post a Comment
Read more

Vacuum Interrupter Market Is Booming Worldwide Size, Development Growth Strategies, Product Scope and Forecast by 2029

  The Global  Vacuum Interrupter Market  report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyse factors that influence demand for tactical communication, key market trends, and challenges faced by industry participants. With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market. GET MORE INFO:   https://www.fortunebusinessinsights.com/industry-reports/vacuum-interrupter-market-100937   This Report Focuses On the Top Players in Global Market, Like:                                                ABB (Switzerland) Siemens AG (Germany) Crompton Greaves Limited (India) LS Industrial System (South Korea) Mitsubishi Electric Corporation (Japan) Toshiba Corporation (Japan) Chengdu Xuguang Electronics Co. Ltd. (China) Eaton (U.S.) Shaanxi
Post a Comment
Read more

Industrial Gearbox Market Share, Size, Global Business Growth, Industry Revenue, Demand and Applications Market Research Report to 2028

  Industrial Gearbox Market | 2022 Energy And Power Industry Global Analysis by Covid-19 Impact On, Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2029 is latest study published by Fortune Business Insights. The global industrial gearbox market size was USD 26.17 billion in 2020. The market is projected to grow from USD 27.92 billion in 2021 to USD 38.10 billion in 2028 at a CAGR of 4.5% during the 2021-2028 period. To understand long -term and short-term impact of COVID-19 on this market, Get Sample Report:  https://www.fortunebusinessinsights.com/industrial-gearbox-market-106417   Global Industrial Gearbox Market Highlights: Rising Adoption of Industrial Adoption & Improving Industrialization to Augment Growth Factors, such as rapidly increasing industrialization and rising measures undertaken to modernize industrial infrastructure, will boost the industrial gearbox market growth during the forecast pe
Post a Comment
Read more