Middle East & Africa 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 Middle East & Africa is expected to grow from US$ 2,679.60 million in 2021 to US$ 4,682.18 million by 2028; it is estimated to grow at a CAGR of 8.3% from 2021 to 2028.
Subsea technologies witnessing technological advancements is the major factor driving the growth of the Middle East & Africa FPSO market. Oil & gas companies are adopting new technologies owing to the advancements in offshore technologies, such as separable turret, cylindrical hull designs, and double hull designs. Further, technological advancements in floating production storage and offloading over other production systems such as digitalization of FPSO and penetration of IoT and automation in the oil & gas industry, increasing focus of market players on R&D activities, and development of new products are expected to create positive trends for the Middle East & Africa FPSO market growth in the coming years.
Advancements in drilling technology, dynamic positioning equipment, and floating production and drilling units have made prospects viable that were previously unreachable. Technological advancements have made new areas accessible. Thus, the advancements in subsea technology are likely to increase the adoption of advanced oil and gas extraction and production processes, which is expected to boost the growth of the Middle East & Africa FPSO market in the coming years.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East & Africa FPSO market at a notable CAGR during the forecast period.
Middle East & Africa FPSO Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa FPSO Market Segmentation
The Middle East & Africa FPSO market is segmented into water-depth, hull, mooring, construction, and country. Based on water depth, the Middle East & Africa FPSO market is segmented as shallow water, deep water, and ultra-deep water. Deep water segment held the largest market share in 2021. Based on hull, the Middle East & Africa FPSO market is bifurcated into single hull and double hull. Double hull segment held the largest market share in 2021. Based on mooring, the Middle East & Africa FPSO market is segmented as spread mooring and disconnectable mooring. Spread mooring segment held the largest market share in 2021. Based on construction, the Middle East & Africa FPSO market is fragmented as newly built and converted. The newly built segment held the largest market share in 2021. Based on country, the Middle East & Africa FPSO market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Further, South Africa 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 Middle East & Africa 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. MEA FPSO Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. MEA FPSO Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Oil and Gas Production Increasing in Deep and Ultra-Deepwater
5.1.2 Surge in Number of Offshore Exploration and Production Activities
5.2 Market Restraints
5.2.1 Challenges Faced in FPSO Implementation
5.3 Market Opportunities
5.3.1 Natural Gas and Crude Oil at Very High Demand
5.4 Future Trends
5.4.1 Subsea Technologies Witnessing Technological Enhancements
6. FPSO Market – MEA Market Analysis
6.1 MEA FPSO Market Overview
6.2 MEA FPSO Market Forecast and Analysis
7. MEA FPSO Market Analysis – By Water Depth
7.1 Overview
7.2 MEA 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. MEA FPSO Market Analysis – By Hull
8.1 Overview
8.2 MEA 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. MEA 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. MEA FPSO Market Analysis – By Construction
10.1 Overview
10.2 MEA 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. MEA FPSO Market – Country Analysis
11.1 Overview
11.1.1 MEA FPSO Market Breakdown, By Country
11.1.1.1 Saudi Arabia FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.1.1 Saudi Arabia FPSO Market Breakdown, by Water Depth
11.1.1.1.2 Saudi Arabia FPSO Market Breakdown, by Hull
11.1.1.1.3 Saudi Arabia FPSO Market Breakdown, by Mooring
11.1.1.1.4 Saudi Arabia FPSO Market Breakdown, by Construction
11.1.1.2 UAE FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.2.1 UAE FPSO Market Breakdown, by Water Depth
11.1.1.2.2 UAE FPSO Market Breakdown, by Hull
11.1.1.2.3 UAE FPSO Market Breakdown, by Mooring
11.1.1.2.4 UAE FPSO Market Breakdown, by Construction
11.1.1.3 South Africa FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.3.1 South Africa FPSO Market Breakdown, by Water Depth
11.1.1.3.2 South Africa FPSO Market Breakdown, by Hull
11.1.1.3.3 South Africa FPSO Market Breakdown, by Mooring
11.1.1.3.4 South Africa FPSO Market Breakdown, by Construction
11.1.1.4 Rest of MEA FPSO Market, Revenue and Forecast to 2028 (US$ million)
11.1.1.4.1 Rest of MEA FPSO Market Breakdown, by Water Depth
11.1.1.4.2 Rest of MEA FPSO Market Breakdown, by Hull
11.1.1.4.3 Rest of MEA FPSO Market Breakdown, by Mooring
11.1.1.4.4 Rest of MEA 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. MEA FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA FPSO Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 3. Saudi Arabia FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 4. Saudi Arabia FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 5. Saudi Arabia FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 6. Saudi Arabia FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 7. UAE FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 8. UAE FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 9. UAE FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 10. UAE FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 11. South Africa FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 12. South Africa FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 13. South Africa FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 14. South Africa FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 15. Rest of MEA FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 16. Rest of MEA FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 17. Rest of MEA FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 18. Rest of MEA FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 19. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA FPSO Market Segmentation
Figure 2. MEA FPSO Market Segmentation – By Country
Figure 3. MEA FPSO Market Overview
Figure 4. Shallow Water Segment held the Largest Share of MEA FPSO Market
Figure 5. Disconnectable Mooring Segment held the Largest Share of MEA FPSO Market
Figure 6. Double Hull Segment held the Largest Share of MEA FPSO Market
Figure 7. Newly Built Segment held the Largest Share of MEA FPSO Market
Figure 8. Saudi Arabia to Show Great Traction During Forecast Period
Figure 9. MEA: PEST Analysis
Figure 1. MEA FPSO Market– Ecosystem Analysis
Figure 2. MEA FPSO Market: Impact Analysis of Drivers and Restraints
Figure 3. MEA FPSO Market Forecast and Analysis (US$ Million)
Figure 4. MEA FPSO Market Revenue Share, by Water Depth (2020 and 2028)
Figure 5. MEA Shallow Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 6. MEA Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 7. MEA Ultra-Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 8. MEA FPSO Market Revenue Share, by Hull (2020 and 2028)
Figure 9. MEA Single Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. MEA Double Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. MEA FPSO Market Revenue Share, by Mooring (2020 and 2028)
Figure 12. MEA Spread Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. MEA Disconnectable Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. MEA FPSO Market Revenue Share, by Construction (2020 and 2028)
Figure 15. MEA Newly Built: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. MEA Converted: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. MEA FPSO Market, by Key Country - Revenue (2020) (US$ million)
Figure 18. MEA FPSO Market Breakdown, By Country, 2020 & 2028 (%)
Figure 19. Saudi Arabia FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 20. UAE FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 21. South Africa FPSO Market, Revenue and Forecast To 2028 (US$ million)
Figure 22. Rest of MEA 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 Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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