Asia Pacific FPSO Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Water Depth (Shallow Water, Deep Water, and Ultra-Deep Water), Hull (Single Hull and Double Hull), Mooring (Spread Mooring and Disconnectable Mooring), and Construction (Newly Built and Converted)
The FPSO market in Asia Pacific is expected to grow from US$ 2,169.20 million in 2021 to US$ 3,575.27 million by 2028; it is estimated to register a CAGR of 7.4% from 2021 to 2028.
APAC is the major continent globally and is well-known for technological innovations taking place in countries such as India, China, Japan, and South Korea. Rapid technological developments, government initiatives, digitalization of economies, and a rise in disposable income of the middle-income class group are among the factors propelling the region's overall economic growth and driving it from a developing to developed phase. In Asia-Pacific, demand for natural gas has increased due to the increased use of gas in various industries and eventually increased the FPSO demand in the region to extract oil and gas from offshore and onshore sites.
As per the outlook magazine, the COVID-19 pandemic has led to a decline in oil demand. However, it is expected that the demand for energy will witness constant growth in the mid-term and long-term period, rising by a noteworthy 25% by 2045. Furthermore, oil is anticipated to become the largest contributor to the energy mix market, which will contribute 27% share by 2045. In the coming years, APAC is anticipated to witness high demand for natural gas owing to the rising use of natural gas in diverse industrial sectors. As per the BP Statistical Review of World Energy 2020, an increase in natural gas consumption averaged 2% in 2019, while in APAC, the natural gas consumption showed 4.7% Y-o-Y growth in 2019. Additionally, the interregional trade of gas increased by 4.9%, representing over double growth in the 10-year average. Thus, the growing demand for natural gas and crude oil is expected to offer lucrative opportunities for the Asia Pacific FPSO market growth during the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific FPSO market at a notable CAGR during the forecast period.
Asia Pacific FPSO Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific FPSO Market Segmentation
The Asia Pacific FPSO market is segmented into water-depth, hull, mooring, construction, and country. Based on water depth, the market is segmented into shallow water, deep water, and ultra-deep water. The ultra-deep water segment held the largest market share in 2021. Based on hull, the market is bifurcated into single hull and double hull. The double hill segment held a larger market share in 2021. Based on mooring, the market is divided into spread mooring and disconnectable mooring. The disconnectable spread mooring segment held a larger market share in 2021. Based on construction, the market is bifurcated into newly built and converted. The converted segment held a larger market share in 2021. Based on country, the Asia Pacific FPSO market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Further, China held the largest market share in 2021.
Bumi Armada Berhad; BW Offshore; CNOOC Limited; Energies; Equinor ASA; Exxon Mobil Corporation; MODEC, Inc; Petrobras; SBM Offshore; and Shell Plc are among the leading companies operating in the Asia Pacific FPSO market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC FPSO Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. APAC FPSO Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Deep and Ultra-Deepwater Witnessing Rise in Oil and Gas Production
5.1.2 Offshore Exploration and Production Activities Increasing
5.2 Market Restraints
5.2.1 Challenges Faced in FPSO Implementation
5.3 Market Opportunities
5.3.1 Natural Gas and Crude Oil Demand Surging
5.4 Future Trends
5.4.1 Significant Advancements in Subsea Technologies
6. FPSO Market – APAC Market Analysis
6.1 APAC FPSO Market Overview
6.2 APAC FPSO Market Forecast and Analysis
7. APAC FPSO Market Analysis – By Water Depth
7.1 Overview
7.2 APAC FPSO Market, By Water Depth (2020 and 2028)
7.3 Shallow Water
7.3.1 Overview
7.3.2 Shallow Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Deep Water
7.4.1 Overview
7.4.2 Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Ultra-Deep Water
7.5.1 Overview
7.5.2 Ultra-Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC FPSO Market Analysis – By Hull
8.1 Overview
8.2 APAC FPSO Market, By Hull (2020 and 2028)
8.3 Single Hull
8.3.1 Overview
8.3.2 Single Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Double Hull
8.4.1 Overview
8.4.2 Double Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC FPSO Market Analysis – By Mooring
9.1 Overview
9.2 FPSO Market, By Mooring (2020 and 2028)
9.3 Spread Mooring
9.3.1 Overview
9.3.2 Spread Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Disconnectable Mooring
9.4.1 Overview
9.4.2 Disconnectable Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
10. APAC FPSO Market Analysis – By Construction
10.1 Overview
10.2 APAC FPSO Market, By Construction (2020 and 2028)
10.3 Newly Built
10.3.1 Overview
10.3.2 Newly Built: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Converted
10.4.1 Overview
10.4.2 Converted: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
11. APAC FPSO Market – Country Analysis
11.1 Overview
11.1.1 APAC FPSO Market Breakdown, by Country
11.1.1.1 China FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.1.1 China FPSO Market Breakdown, by Water Depth
11.1.1.1.2 China FPSO Market Breakdown, by Hull
11.1.1.1.3 China FPSO Market Breakdown, by Mooring
11.1.1.1.4 China FPSO Market Breakdown, by Construction
11.1.1.2 India FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.2.1 India FPSO Market Breakdown, by Water Depth
11.1.1.2.2 India FPSO Market Breakdown, by Hull
11.1.1.2.3 India FPSO Market Breakdown, by Mooring
11.1.1.2.4 India FPSO Market Breakdown, by Construction
11.1.1.3 Japan FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.3.1 Japan FPSO Market Breakdown, by Water Depth
11.1.1.3.2 Japan FPSO Market Breakdown, by Hull
11.1.1.3.3 Japan FPSO Market Breakdown, by Mooring
11.1.1.3.4 Japan FPSO Market Breakdown, by Construction
11.1.1.4 South Korea FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.4.1 South Korea FPSO Market Breakdown, by Water Depth
11.1.1.4.2 South Korea FPSO Market Breakdown, by Hull
11.1.1.4.3 South Korea FPSO Market Breakdown, by Mooring
11.1.1.4.4 South Korea FPSO Market Breakdown, by Construction
11.1.1.5 Australia FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.5.1 Australia FPSO Market Breakdown, by Water Depth
11.1.1.5.2 Australia FPSO Market Breakdown, by Hull
11.1.1.5.3 Australia FPSO Market Breakdown, by Mooring
11.1.1.5.4 Australia FPSO Market Breakdown, by Construction
11.1.1.6 Rest of APAC FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.6.1 Rest of APAC FPSO Market Breakdown, by Water Depth
11.1.1.6.2 Rest of APAC FPSO Market Breakdown, by Hull
11.1.1.6.3 Rest of APAC FPSO Market Breakdown, by Mooring
11.1.1.6.4 Rest of APAC FPSO Market Breakdown, by Construction
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 MODEC, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Petrobras
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Bumi Armada Berhad
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 SBM Offshore
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 CNOOC Limited
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Energies
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 EXXON MOBIL CORPORATION
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 BW Offshore
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Equinor ASA
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Shell plc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC FPSO Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 3. China FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 4. China FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 5. China FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 6. China FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 7. India FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 8. India FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 9. India FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 10. India FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 11. Japan FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 12. Japan FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 13. Japan FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 14. Japan FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 15. South Korea FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 16. South Korea FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 17. South Korea FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 18. South Korea FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 19. Australia FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 20. Australia FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 21. Australia FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 22. Australia FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 23. Rest of APAC FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 24. Rest of APAC FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 25. Rest of APAC FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 26. Rest of APAC FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 27. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC FPSO Market Segmentation
Figure 2. APAC FPSO Market Segmentation – By Country
Figure 3. APAC FPSO Market Overview
Figure 4. Ultra Deep Water Segment held the Largest Share of APAC FPSO Market
Figure 5. Disconnectable Mooring Segment held the Largest Share of APAC FPSO Market
Figure 6. Double Hull Segment held the Largest Share of APAC FPSO Market
Figure 7. Converted Segment held the Largest Share of APAC FPSO Market
Figure 8. China to Show Great Traction During Forecast Period
Figure 9. APAC- PEST Analysis
Figure 10. APAC FPSO Market– Ecosystem Analysis
Figure 11. APAC FPSO Market: Impact Analysis of Drivers and Restraints
Figure 12. APAC FPSO Market Forecast and Analysis (US$ Million)
Figure 13. APAC FPSO Market Revenue Share, by Water Depth (2020 and 2028)
Figure 14. APAC Shallow Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Ultra-Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC FPSO Market Revenue Share, by Hull (2020 and 2028)
Figure 18. APAC Single Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC Double Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC FPSO Market Revenue Share, by Mooring (2020 and 2028)
Figure 21. APAC Spread Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. APAC Disconnectable Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. APAC FPSO Market Revenue Share, by Construction (2020 and 2028)
Figure 24. APAC Newly Built: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. APAC Converted: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. APAC FPSO Market, by Key Country - Revenue (2020) (US$ million)
Figure 27. APAC FPSO Market Breakdown, by Country, 2020 & 2028 (%)
Figure 28. China FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 29. India FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 30. Japan FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 31. South Korea FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 32. Australia FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 33. Rest of APAC FPSO Market, Revenue and Forecast To 2028 (US$ million)
- Bumi Armada Berhad
- BW Offshore
- CNOOC Limited
- Energies
- Equinor ASA
- Exxon Mobil Corporation
- MODEC, Inc
- Petrobras
- SBM Offshore
- Shell Plc
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific FPSO market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific FPSO market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the FPSO market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution