FPSO Market Research, 2033
The global floating production storage and offloading (FPSO) market size was valued at $25.2 billion in 2023, and is projected to reach $46.2 billion by 2033, growing at a CAGR of 6.3% from 2024 to 2033.
Market Introduction and Definition
A Floating Production Storage and Offloading (FPSO) unit is a floating vessel used by the offshore oil and gas industry for the production, processing, and storage of hydrocarbons. The FPSO is anchored at sea and equipped with production facilities to process extracted hydrocarbons and storage tanks to hold the processed oil until it can be offloaded to shuttle tankers or pipelines for transportation to shore. FPSOs are especially advantageous in deepwater and remote locations where seabed infrastructure is challenging or uneconomical. They offer flexibility in relocation, allowing for reuse in different fields after the depletion of the current reservoir. This adaptability makes FPSOs a vital component in the offshore production landscape, providing an efficient solution for the exploitation of underwater oil and gas resources.
Key Takeaways
- Over 1, 500 product literatures, industry releases, annual reports, and various documents from major floating production storage and offloading market participants, along with credible industry journals, trade association releases, and government websites, have been reviewed to generate valuable industry insights.
- The floating production storage and offloading market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
- The study integrated high-quality data, expert opinions and analysis, and crucial independent perspectives. This research approach aims to provide a balanced view of global markets and floating production storage and offloading market overview, assisting stakeholders in making informed decisions to achieve their most ambitious growth objectives.
- Floating production storage and offloading market news and key industry trends are also included in the report.
Key Market Segments
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
- By Type
- By Propulsion
- By Hull Type
- By Application
- Shallow Water
- Deepwater
- Ultra-Deepwater
Key Market Players
- ABB Group
- Emerson Global
- SBM Offshore N.V.
- Chevron Corporation
- Exxon Mobil Corporation
- BW Offshore Limited
- MODEC, Inc.
- Teekay Corporation
- Bluewater Energy Services B.V.
- Yinson Holdings Berhad