China is a major player in the FPSO market, with a number of domestic companies involved in the design, construction, and operation of these vessels. China's shipbuilding industry is one of the largest in the world, and the country has a strong track record in the construction of offshore platforms and vessels.
The demand for FPSOs in China is increasing as the country has sought to develop its offshore oil and gas reserves. The China FPSO market growth is being driven by a combination of factors, including the depletion of onshore reserves, the rising cost of oil and gas production, and the need to reduce its dependence on energy imports.
To meet this demand, Chinese companies have invested heavily in the design and construction of FPSOs, with a number of domestic yards and shipbuilders specializing in this type of vessel. In addition, Chinese companies have also been involved in the leasing and operation of FPSOs in other countries, particularly in the Asia-Pacific region.
According to the Ministry of Industry and Information Technology (MIIT), China maintained its dominance in the worldwide shipbuilding industry in the first half of 2022, holding 45.2 percent of the global market share. Chinese Shipyards finished 18.5 million deadweight tons (DWT) of orders, ranking first in the world.
Overall, the FPSO market in China is expected to continue to grow in the coming years, as the country looks to expand its offshore oil and gas production and reduce its reliance on imported energy.
The study examines the drivers, restraints, and regional trends influencing China Floating Production Storage and Offloading (FPSO) Market demand and growth.
The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Floating Production Storage and Offloading (FPSO) Market, important commercial developments, trends, countries, and segments poised for fastest growth, competitive landscape.
Further, the report will also provide China Floating Production Storage and Offloading Market size (CapEx), demand forecast, and growth rates.
The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.
Each factor's respective impact in the near, medium and long term will be covered using Harvey balls for visual communication of qualitative information, and functions as a guide for you to analyze the degree of impact.
This section provides an assessment of COVID-19 impact on Floating Production Storage and Offloading (FPSO) Market demand in the region.
Using Porter's five forces framework, the report covers the assessment of the Floating Production Storage and Offloading (FPSO) industry's state of competition and profitability.
Further, market size (CapEx) and demand forecasts will be presented along with various drivers and barriers for individual market segments.
Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for a bespoke market segmentation to better align the research report with your requirements.
The study also discusses the strategies adopted by leading players in the industry.
The report begins with an executive summary chapter and ends with conclusions and recommendations.
Also, take a look at our Global FPSO industry outlook report based on our extensive global FPSO market analysis.
Check the detailed analysis of the FPSO market of various regions (covers key countries in each region):
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The demand for FPSOs in China is increasing as the country has sought to develop its offshore oil and gas reserves. The China FPSO market growth is being driven by a combination of factors, including the depletion of onshore reserves, the rising cost of oil and gas production, and the need to reduce its dependence on energy imports.
To meet this demand, Chinese companies have invested heavily in the design and construction of FPSOs, with a number of domestic yards and shipbuilders specializing in this type of vessel. In addition, Chinese companies have also been involved in the leasing and operation of FPSOs in other countries, particularly in the Asia-Pacific region.
According to the Ministry of Industry and Information Technology (MIIT), China maintained its dominance in the worldwide shipbuilding industry in the first half of 2022, holding 45.2 percent of the global market share. Chinese Shipyards finished 18.5 million deadweight tons (DWT) of orders, ranking first in the world.
Overall, the FPSO market in China is expected to continue to grow in the coming years, as the country looks to expand its offshore oil and gas production and reduce its reliance on imported energy.
Recent Key Developments
- In November 2022, a cylindrical floating production storage and offloading FPSO vessel built by the Offshore Oil Engineering Co., Ltd. for Shell plc was successfully delivered in Qingdao, Shandong Province, east China. With a storage capacity of 400,000 barrels of crude oil, it is the heaviest FPSO unit in China. The vessel will be deployed in the north sea
- SBM Offshore awarded the FPSO order to CSSC (China State Shipbuilding Corporation) in August 2022. The FPSO unit will be able to hold 2.3 million barrels of crude oil
- China's Cosco Shipping Heavy Industry is closing in on significant FPSO contracts to construct the hulls and topsides modules for two different floating production, storage, and offloading vessels that will be deployed offshore Brazil with Singapore's Sembcorp Marine and Japan's Modec
Trends in China FPSO Market
- China is redeploying some of its major FPSOs in the South China Sea after an overhaul. For instance, the Hai Yang Shi You 116 floating production, storage, and offloading vessel has been released in the South China Sea by Chinese floater owner and operator CNOOC Energy Technology & Services (CNOOC EnerTech) for a significant overhaul to increase its production capacity
- Increasing use of modern technology: Chinese businesses have led the way in developing and implementing advanced technologies for floating production systems, such as automated drilling systems, enhanced process control systems, and data analytics. These technologies are being applied to save costs while increasing the effectiveness and safety of FPSO operations
The study examines the drivers, restraints, and regional trends influencing China Floating Production Storage and Offloading (FPSO) Market demand and growth.
The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Floating Production Storage and Offloading (FPSO) Market, important commercial developments, trends, countries, and segments poised for fastest growth, competitive landscape.
Further, the report will also provide China Floating Production Storage and Offloading Market size (CapEx), demand forecast, and growth rates.
What is covered in the Report?
China FPSO Market Drivers & Restraints
The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.
Each factor's respective impact in the near, medium and long term will be covered using Harvey balls for visual communication of qualitative information, and functions as a guide for you to analyze the degree of impact.
China FPSO Market Analysis
This report discusses an overview of the market, the latest updates, important commercial developments and structural trends, and government policies and regulations in the region.This section provides an assessment of COVID-19 impact on Floating Production Storage and Offloading (FPSO) Market demand in the region.
China FPSO Market CapEx and Demand Forecast
The report provides China Floating Production Storage and Offloading (FPSO) Market size (CapEx) and demand forecast until 2027, including year-on-year (YoY) growth rates and CAGR.China FPSO Market Industry Analysis
The report examines the critical elements of the Floating Production Storage and Offloading (FPSO) industry supply chain, its structure, and the participantsUsing Porter's five forces framework, the report covers the assessment of the Floating Production Storage and Offloading (FPSO) industry's state of competition and profitability.
China FPSO Market Segmentation & Forecast
The report dissects the China Floating Production Storage and Offloading (FPSO) Market into various segments based on construction type (new build ship, converted ship/hull), on water depth (shallow water, deep water, ultra deep water), and hull type (single hull, double hull).Further, market size (CapEx) and demand forecasts will be presented along with various drivers and barriers for individual market segments.
Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for a bespoke market segmentation to better align the research report with your requirements.
Key Company Profiles
This report presents detailed profiles of Key companies in the Floating Production Storage and Offloading (FPSO) industry. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments.Competitive Landscape
The report provides a comprehensive list of notable companies in the regional market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.The study also discusses the strategies adopted by leading players in the industry.
Executive Summary
The executive summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.The report begins with an executive summary chapter and ends with conclusions and recommendations.
Also, take a look at our Global FPSO industry outlook report based on our extensive global FPSO market analysis.
Check the detailed analysis of the FPSO market of various regions (covers key countries in each region):
- South America FPSO Market
- North America FPSO Market
- Asia Pacific FPSO Market
- Middle East FPSO Market
- Europe FPSO Market
- Africa FPSO Market
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Table of Contents
1. Executive Summary2. Research Scope and Methodology8. Conclusions and RecommendationsList of Tables & FiguresAbbreviationsAdditional NotesDisclaimer
3. Market Analysis
4. Industry Analysis
5. Market Segmentation & Forecast
6. Key Company Profiles
7. Competitive Landscape
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- MODEC Inc.
- SBM Offshore N.V.
- BW Offshore Limited
- Bumi Armada Berhad
- Yinson Holdings Berhad
- Altera Infrastructure
- Bluewater Energy Services
- MISC Berhad
- SBM Offshore N.V.
- Century Energy Services Ltd.
- MTC Engineering
- Petrofirst
- Petrobras
- CNOOC Ltd.
- TotalEnergies SE
