DUBLIN, November 17, 2017 /PRNewswire/ --

The "Global Floating Production Storage and Offloading Market 2017-2021" report has been added to Research and Markets' offering.

The global floating production storage and offloading market to grow at a CAGR of 4.91% during the period 2017-2021.

Global Floating Production Storage and Offloading Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend in the market is rise in the number of deepwater and ultra-deepwater drilling projects.

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.

Market Trends

• Rise in the number of deepwater and ultra-deepwater drilling projects
• Shift in preference toward new built floating production storage and offloading
• Development of floating LNG

Key vendors

• Bumi Armada
• BW Offshore
• MODEC
• Petrobras
• SBM Offshore

Other prominent vendors

• Bluewater
• MISC Berhad
• Saipem
• Teekay
• Yinson Holdings

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation By Water Depth

Part 09: Regional Landscape

Part 10: Decision Framework

Part 11: Drivers And Challenges

Part 12: Market Trends

Part 13: Vendor Landscape

Part 14: Vendor Analysis

Part 15: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/jmw9p8/global_floating

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SOURCE Research and Markets