Floating Production Storage and Offloading Market Size and Forecast 2029

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 26.81 Billion
CAGR (2024-2029)	6.13%
Fastest Growing Segment	New-Build
Largest Market	North America

Market Overview

The Global Floating Production Storage and Offloading (FPSO) market is a dynamic and integral component of the offshore oil and gas industry. FPSOs serve as versatile floating platforms that combine hydrocarbon processing, storage, and offloading capabilities, enabling the extraction of oil and gas resources in offshore fields. Dominated by key regions such as North America, South America, and Asia-Pacific, the market's growth is fueled by factors including the exploration of deepwater reserves, a focus on marginal fields, and advancements in FPSO technology. Converted FPSOs, particularly those with self-propulsion capabilities and double hull configurations, lead the market due to their cost-effectiveness, operational flexibility, and adherence to stringent safety and environmental standards.

The market is marked by a continual emphasis on technological innovation, with advancements in propulsion systems, digitalization, and automation enhancing the efficiency and reliability of FPSO operations. Furthermore, the industry's commitment to sustainability is evident through the widespread adoption of double hull configurations, minimizing environmental risks and aligning with stringent regulatory requirements. As a critical solution for monetizing offshore hydrocarbon reserves, FPSOs play a pivotal role in addressing the evolving demands of the global energy landscape. The market's trajectory is shaped by a balance between technological advancements, cost considerations, and a steadfast commitment to operational safety and environmental stewardship.

Key Market Drivers

Deepwater and Ultra-Deepwater Exploration and Production:

One of the key drivers propelling the global FPSO market is the increasing exploration and production activities in deepwater and ultra-deepwater oil and gas reserves. Traditional fixed-platform installations become economically unviable in such challenging offshore environments due to water depths exceeding the capabilities of fixed structures. FPSOs provide a versatile solution, capable of operating in deepwater locations and facilitating the extraction of hydrocarbons in previously inaccessible reserves. As technological advancements continue to enable deepwater exploration, the demand for FPSOs as a viable production solution is set to rise, driving market growth.

Flexible and Cost-Effective Development Option:

The flexibility and cost-effectiveness offered by FPSOs are significant drivers in the global market. FPSOs provide operators with a versatile and adaptable solution for hydrocarbon production in diverse offshore conditions. Their ability to be moved and redeployed to new fields after depletion or as exploration progresses offers a distinct advantage. Moreover, the cost-effectiveness of FPSOs compared to traditional fixed-platform installations makes them an attractive option, particularly in marginal fields or regions where establishing permanent infrastructure is economically challenging. The modular design and rapid deployment capabilities contribute to reduced project lead times, enabling quicker monetization of hydrocarbon reserves.

Increasing Focus on Marginal and Stranded Fields:

The global FPSO market is driven by an increasing focus on developing marginal and stranded fields. Marginal fields, characterized by smaller reserves, were previously economically unattractive for development using traditional methods. FPSOs, with their adaptability and scalability, provide a feasible solution for extracting hydrocarbons from these fields. Similarly, stranded fields, which lack nearby infrastructure or face logistical challenges, can benefit from FPSOs as stand-alone production and storage facilities. The ability of FPSOs to unlock the potential of these fields contributes to their growing prominence in the global market.

Growing Energy Demand in Emerging Markets:

The rising energy demand in emerging markets, coupled with the need for diversified and secure energy sources, acts as a significant driver for the global FPSO market. As economies in regions such as Asia, Africa, and South America experience rapid industrialization and urbanization, the demand for hydrocarbons continues to escalate. FPSOs play a crucial role in meeting this demand by facilitating the development of offshore oil and gas fields. The versatility of FPSOs enables operators to respond to varying energy needs in different geographic locations, positioning them as key contributors to global energy security.

Technological Advancements and Innovation:

Technological advancements and continuous innovation drive the global FPSO market, enhancing the efficiency, safety, and capabilities of these offshore facilities. Advancements in turret mooring systems, dynamic positioning technologies, and enhanced oil recovery techniques contribute to the overall performance of FPSOs. Innovations in materials, automation, and digitalization further optimize operations, reduce downtime, and enhance overall asset management. As the industry embraces Industry 4.0 principles, the integration of artificial intelligence, sensors, and predictive analytics enables proactive maintenance and improves the reliability of FPSO systems. This technological evolution positions FPSOs as state-of-the-art solutions for offshore hydrocarbon production, fostering sustained growth in the market.

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Key Market Challenges

Complex Project Economics and High Capital Costs:

One of the significant challenges facing the global FPSO market is the complex project economics and high capital costs associated with the design, construction, and deployment of FPSO units. FPSOs are inherently complex engineering structures designed to operate in harsh offshore environments. The intricate nature of these projects involves substantial upfront investments in technology, equipment, and skilled labor. The challenge lies in optimizing project economics to ensure cost-effectiveness while meeting stringent safety and environmental standards. High capital costs can pose financial barriers, especially for smaller operators or in the current market conditions where cost control is paramount.

Engineering and Technical Challenges:

The FPSO market faces ongoing engineering and technical challenges, ranging from deepwater developments to harsh climate conditions. Designing FPSOs that can withstand extreme weather events, such as hurricanes or typhoons, while maintaining operational efficiency is a formidable task. The industry also grapples with issues related to corrosion, fatigue, and maintenance in offshore environments. As FPSO projects move into more remote and challenging locations, addressing these technical challenges becomes crucial. Innovation in engineering solutions, materials, and maintenance practices is essential to mitigate risks and ensure the long-term reliability of FPSO assets.

Regulatory Compliance and Environmental Concerns:

Regulatory compliance and environmental concerns present notable challenges in the global FPSO market. As offshore operations expand into new regions, operators face a complex web of regulatory frameworks, each with its own set of requirements. Meeting stringent environmental standards and navigating evolving regulatory landscapes demand significant resources and expertise. Environmental concerns, including potential oil spills and emissions, necessitate continuous advancements in technology and operational practices to minimize ecological impact. Striking a balance between regulatory compliance, environmental stewardship, and operational efficiency remains a persistent challenge for the FPSO industry.

Oil Price Volatility and Market Uncertainties:

The FPSO market is highly susceptible to oil price volatility and broader market uncertainties. Fluctuations in oil prices can directly impact investment decisions and project economics for both operators and FPSO contractors. During periods of low oil prices, project sanctioning may be delayed or canceled, affecting the demand for new FPSO projects. Additionally, market uncertainties, geopolitical factors, and global economic conditions can create challenges for long-term planning and investment in FPSO ventures. The industry must navigate these uncertainties by adopting flexible business models, cost-effective technologies, and risk mitigation strategies to adapt to changing market dynamics.

Supply Chain and Vendor Management:

Efficient supply chain management and reliable vendor relationships are crucial for the successful execution of FPSO projects. The complexity of FPSO projects involves sourcing equipment, components, and services from a global network of suppliers. Challenges arise in ensuring the timely delivery of high-quality materials, meeting project specifications, and managing potential disruptions in the supply chain. Coordinating with various vendors, contractors, and subcontractors demands effective project management to avoid delays and cost overruns. Developing robust supply chain strategies, fostering collaborative relationships, and mitigating risks associated with dependencies on specific suppliers are critical aspects of overcoming these challenges.

Key Market Trends

Advancements in FPSO Technology:

The global FPSO market is witnessing a trend of continuous advancements in technology, aiming to enhance operational efficiency, safety, and environmental sustainability. Evolving technologies such as advanced mooring systems, turret designs, and control systems contribute to increased FPSO capabilities. Automation and digitalization are also playing a crucial role, allowing for real-time monitoring, predictive maintenance, and data-driven decision-making. These technological innovations not only optimize production processes but also contribute to reducing operational costs and minimizing the environmental footprint of FPSO operations.

Increasing Focus on Renewable Energy Integration:

A notable trend in the FPSO market is the increasing focus on integrating renewable energy sources into FPSO operations. With the global shift towards sustainable energy solutions, there is a growing emphasis on incorporating technologies such as floating wind turbines or solar panels onto FPSO structures. This trend aligns with the broader energy transition goals and positions FPSOs as versatile assets capable of harnessing both traditional hydrocarbons and renewable energy. It also reflects the industry's commitment to reducing greenhouse gas emissions and fostering a more sustainable energy future.

Growing Deployment of Small-Scale FPSOs:

Another trend shaping the global FPSO market is the growing deployment of small-scale FPSOs, particularly in marginal fields and remote locations. Small-scale FPSOs offer a cost-effective solution for operators looking to develop smaller reserves or fields with limited infrastructure. These FPSOs, with reduced capacities compared to their larger counterparts, provide flexibility and adaptability for operators to economically exploit marginal or stranded hydrocarbon resources. The trend towards small-scale FPSOs contributes to expanding the reach of FPSO technology to diverse geographic locations and optimizing the development of smaller reserves.

Industry Collaboration and Partnership Strategies:

Collaboration and partnership strategies are emerging as a significant trend in the FPSO market. Given the complexity and capital-intensive nature of FPSO projects, operators, and contractors are increasingly forming strategic alliances to share risks, pool resources, and enhance project execution. Joint ventures and collaborations facilitate the pooling of technical expertise, financial resources, and project management capabilities, ultimately contributing to the successful development and operation of FPSO projects. This trend is crucial in navigating challenging market conditions, sharing costs, and ensuring the successful delivery of FPSO ventures in a competitive and dynamic industry landscape.

Focus on Emissions Reduction and Environmental Stewardship:

Environmental concerns and the global push towards decarbonization are driving a trend in the FPSO market towards a stronger focus on emissions reduction and environmental stewardship. Operators and contractors are investing in technologies and practices that minimize the environmental impact of FPSO operations. This includes the adoption of cleaner energy sources, implementation of emissions control technologies, and adherence to stringent environmental regulations. The trend aligns with industry-wide efforts to achieve carbon neutrality and positions FPSOs as environmentally responsible solutions in hydrocarbon production.

Segmental Insights

Type Insights

Converted segment dominates in the global floating production storage and offloading market in 2023. Converted FPSOs involve the transformation of existing tanker vessels, often oil tankers, into sophisticated offshore production and processing facilities. The strategic retrofitting of these vessels significantly reduces the overall project timeline compared to building FPSOs from scratch, allowing operators to expedite the monetization of offshore hydrocarbon reserves. This faster deployment is especially advantageous in scenarios where time-to-market is critical, providing a swifter response to changing market conditions or urgent energy demands.

Cost considerations play a pivotal role in the dominance of converted FPSOs. Utilizing existing vessels leverages sunk costs associated with the original construction of these ships, leading to substantial savings compared to the expenses incurred in constructing new FPSOs. The conversion approach allows operators to repurpose vessels that may have reached the end of their original service life as traditional tankers but still possess structural integrity and marine capabilities suitable for FPSO applications. This cost-effectiveness enhances the economic viability of FPSO projects, making them more attractive to operators seeking efficient solutions for offshore production.

Furthermore, the converted FPSO segment offers adaptability to diverse offshore environments and field characteristics. The availability of a range of tanker sizes and designs allows for customization to meet specific project requirements. This flexibility is particularly beneficial when deploying FPSOs in different geographical locations or developing fields with varying reservoir characteristics. The adaptability of converted FPSOs aligns with the evolving nature of offshore exploration, where operators encounter diverse challenges and opportunities across different basins and regions.

The dominance of converted FPSOs is underscored by the extensive experience and expertise of engineering and marine conversion firms in the industry. These companies specialize in retrofitting vessels to meet the stringent standards and specifications required for offshore hydrocarbon production. Their proficiency in converting vessels into FPSOs ensures the integration of advanced processing facilities, topside equipment, and safety features, meeting regulatory and industry standards.

While "New-Build" FPSOs involve the construction of purpose-built units tailored to specific project requirements and reservoir conditions, the dominance of the converted segment showcases the industry's preference for pragmatic and cost-efficient solutions. The "Redeployed" FPSO segment involves relocating existing FPSOs from one field to another, providing a sustainable and environmentally conscious approach to asset reuse.

Propulsion Insights

Self-Propelled segment dominates in the global floating production storage and offloading market in 2023. Self-propelled FPSOs are characterized by their ability to navigate independently to and from offshore fields without requiring external towing assistance. This autonomy is a significant driver of their dominance in the market, allowing operators to efficiently relocate these vessels between different fields or wells as exploration and production activities evolve. The self-propulsion feature enhances the overall operational flexibility, enabling operators to respond dynamically to changes in reservoir characteristics, market dynamics, or strategic project planning.

The autonomy of self-propelled FPSOs also plays a pivotal role in their response to emergency situations or adverse weather conditions. In scenarios where rapid relocation is necessary due to factors such as hurricanes, storms, or well integrity issues, the self-propelled capability allows for swift and controlled movement, ensuring the safety of the FPSO, personnel, and the environment. This operational resilience is a critical factor in the decision-making process, particularly in regions prone to challenging weather conditions.

Moreover, self-propelled FPSOs offer increased maneuverability during field development and production operations. This capability is particularly advantageous when connecting to subsea infrastructure, managing risers, or optimizing positioning for optimal hydrocarbon recovery. The ability to precisely control the FPSO's position contributes to operational efficiency and safety, making self-propelled units the preferred choice for operators seeking advanced and versatile solutions.

The dominance of self-propelled FPSOs is also attributed to the technological advancements in propulsion systems and control mechanisms. These systems are designed to provide precise navigation, dynamic positioning, and efficient power management, ensuring optimal performance throughout the FPSO's operational life. The integration of advanced propulsion technologies enhances reliability, reduces downtime, and contributes to the overall efficiency of self-propelled FPSOs in various offshore environments.

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Regional Insights

North America dominates the global floating production storage and offloading market in 2023. One of the primary reasons for North America's dominance in the FPSO market is the presence of abundant offshore oil and gas reserves in the region. The Gulf of Mexico, in particular, is a prolific offshore basin with significant hydrocarbon deposits. The accessibility and richness of these reserves make FPSOs a preferred solution for extracting and processing offshore resources, driving the demand for FPSO projects in North America.

North America boasts advanced technological capabilities and engineering expertise in the oil and gas sector. The region is home to leading engineering firms, oilfield service providers, and technology innovators specializing in offshore operations. The application of cutting-edge technologies in FPSO design, construction, and operation positions North American companies at the forefront of delivering efficient and technologically advanced FPSO projects.

The regulatory environment in North America, particularly in the Gulf of Mexico, is conducive to offshore exploration and production activities. Regulatory frameworks are structured to facilitate responsible and safe offshore operations, providing a stable and predictable environment for investment. This regulatory stability attracts operators and investors, fostering a conducive ecosystem for FPSO projects to thrive.

North America benefits from well-developed infrastructure and logistical capabilities that support the deployment and operation of FPSO projects. The region's established supply chain, transportation networks, and port facilities contribute to the efficient movement of equipment and resources required for FPSO installations. This infrastructure advantage enhances the overall feasibility and cost-effectiveness of FPSO projects in North America.

North American companies have demonstrated market competitiveness and project execution excellence in the FPSO sector. These companies have successfully delivered complex FPSO projects, gaining a reputation for reliability and performance. The track record of successful FPSO deployments in the region has further solidified North America's position as a global leader in the industry, attracting international collaborations and partnerships.

Recent Developments

In May 2019, Bumi Armada, through its joint venture company Shapoorji Pallonji Bumi Armada Godavari, won a contract from the Oil and Natural Gas Corporation for the west coast of Kakinada. Under this contract, Bumi Armada would supply and operate FPSO vessels for 9 years.
In March 2019, BP awarded a contract to TechnipFMC for Greater Tortue Ahmeyim FPSO, located in the offshore of Mauritania and Senegal. Under this contract, BP would operate with the FPSO, and TechnipFMC would provide engineering, construction, procurement, installation, and commissioning services of the FPSO.
In February 2019, MODEC received a contract from Woodside Energy for the SNE field development. The SNE field development is a deepwater oilfield, which is located within the Sangomar Offshore, nearly 100 km south of Dakar, Senegal. Under this contract, MODEC would design and operate the FPSO vessel.

Key Market Players

SBM Offshore N.V.
TechnipFMC plc
Saipem S.p.A.
ExxonMobil Corporation
Shell plc
MODEC, Inc.
Bumi Armada Berhad
BW Offshore Limited
Yinson Holdings Berhad
CNOOC Ltd.

By Type

By Propulsion

By Hull Type

By Application

By Region

Converted
New-Build
Redeployed

Self-Propelled
Towed

Single Hull
Double Hull

Shallow Water
Deepwater
Ultra-Deep Water

North America
Europe
South America
Middle East & Africa
Asia Pacific

Report Scope:

In this report, the Global Floating Production Storage and Offloading Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Floating Production Storage and Offloading Market, By Type:

o Converted

o New-Build

o Redeployed

Floating Production Storage and Offloading Market, By Propulsion:

o Self-Propelled

o Towed

Floating Production Storage and Offloading Market, By Hull Type:

o Single Hull

o Double Hull

Floating Production Storage and Offloading Market, By Application:

o Shallow Water

o Deepwater

o Ultra-Deep Water

Floating Production Storage and Offloading Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ Germany

§ France

§ United Kingdom

§ Italy

§ Spain

o South America

§ Brazil

§ Argentina

§ Colombia

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Australia

o Middle East & Africa

§ Saudi Arabia

§ UAE

§ South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Floating Production Storage and Offloading Market.

Available Customizations:

Global Floating Production Storage and Offloading Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Floating Production Storage and Offloading Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Service Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3. Executive Summary

4. Voice of Customer

5. Global Floating Production Storage and Offloading Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type (Converted, New-Build, Redeployed)

5.2.2. By Propulsion (Self-Propelled, Towed)

5.2.3. By Hull Type (Single Hull, Double Hull)

5.2.4. By Application (Shallow Water, Deepwater, Ultra-Deep Water)

5.2.5. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

5.3. By Company (2023)

5.4. Market Map

6. North America Floating Production Storage and Offloading Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type

6.2.2. By Propulsion

6.2.3. By Hull Type

6.2.4. By Application

6.2.5. By Country

6.2.5.1. United States Floating Production Storage and Offloading Market Outlook

6.2.5.1.1. Market Size & Forecast

6.2.5.1.1.1. By Value

6.2.5.1.2. Market Share & Forecast

6.2.5.1.2.1. By Type

6.2.5.1.2.2. By Propulsion

6.2.5.1.2.3. By Hull Type

6.2.5.1.2.4. By Application

6.2.5.2. Canada Floating Production Storage and Offloading Market Outlook

6.2.5.2.1. Market Size & Forecast

6.2.5.2.1.1. By Value

6.2.5.2.2. Market Share & Forecast

6.2.5.2.2.1. By Type

6.2.5.2.2.2. By Propulsion

6.2.5.2.2.3. By Hull Type

6.2.5.2.2.4. By Application

6.2.5.3. Mexico Floating Production Storage and Offloading Market Outlook

6.2.5.3.1. Market Size & Forecast

6.2.5.3.1.1. By Value

6.2.5.3.2. Market Share & Forecast

6.2.5.3.2.1. By Type

6.2.5.3.2.2. By Propulsion

6.2.5.3.2.3. By Hull Type

6.2.5.3.2.4. By Application

7. Europe Floating Production Storage and Offloading Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Propulsion

7.2.3. By Hull Type

7.2.4. By Application

7.2.5. By Country

7.2.5.1. Germany Floating Production Storage and Offloading Market Outlook

7.2.5.1.1. Market Size & Forecast

7.2.5.1.1.1. By Value

7.2.5.1.2. Market Share & Forecast

7.2.5.1.2.1. By Type

7.2.5.1.2.2. By Propulsion

7.2.5.1.2.3. By Hull Type

7.2.5.1.2.4. By Application

7.2.5.2. France Floating Production Storage and Offloading Market Outlook

7.2.5.2.1. Market Size & Forecast

7.2.5.2.1.1. By Value

7.2.5.2.2. Market Share & Forecast

7.2.5.2.2.1. By Type

7.2.5.2.2.2. By Propulsion

7.2.5.2.2.3. By Hull Type

7.2.5.2.2.4. By Application

7.2.5.3. United Kingdom Floating Production Storage and Offloading Market Outlook

7.2.5.3.1. Market Size & Forecast

7.2.5.3.1.1. By Value

7.2.5.3.2. Market Share & Forecast

7.2.5.3.2.1. By Type

7.2.5.3.2.2. By Propulsion

7.2.5.3.2.3. By Hull Type

7.2.5.3.2.4. By Application

7.2.5.4. Italy Floating Production Storage and Offloading Market Outlook

7.2.5.4.1. Market Size & Forecast

7.2.5.4.1.1. By Value

7.2.5.4.2. Market Share & Forecast

7.2.5.4.2.1. By Type

7.2.5.4.2.2. By Propulsion

7.2.5.4.2.3. By Hull Type

7.2.5.4.2.4. By Application

7.2.5.5. Spain Floating Production Storage and Offloading Market Outlook

7.2.5.5.1. Market Size & Forecast

7.2.5.5.1.1. By Value

7.2.5.5.2. Market Share & Forecast

7.2.5.5.2.1. By Type

7.2.5.5.2.2. By Propulsion

7.2.5.5.2.3. By Hull Type

7.2.5.5.2.4. By Application

8. South America Floating Production Storage and Offloading Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Propulsion

8.2.3. By Hull Type

8.2.4. By Application

8.2.5. By Country

8.2.5.1. Brazil Floating Production Storage and Offloading Market Outlook

8.2.5.1.1. Market Size & Forecast

8.2.5.1.1.1. By Value

8.2.5.1.2. Market Share & Forecast

8.2.5.1.2.1. By Type

8.2.5.1.2.2. By Propulsion

8.2.5.1.2.3. By Hull Type

8.2.5.1.2.4. By Application

8.2.5.2. Colombia Floating Production Storage and Offloading Market Outlook

8.2.5.2.1. Market Size & Forecast

8.2.5.2.1.1. By Value

8.2.5.2.2. Market Share & Forecast

8.2.5.2.2.1. By Type

8.2.5.2.2.2. By Propulsion

8.2.5.2.2.3. By Hull Type

8.2.5.2.2.4. By Application

8.2.5.3. Argentina Floating Production Storage and Offloading Market Outlook

8.2.5.3.1. Market Size & Forecast

8.2.5.3.1.1. By Value

8.2.5.3.2. Market Share & Forecast

8.2.5.3.2.1. By Type

8.2.5.3.2.2. By Propulsion

8.2.5.3.2.3. By Hull Type

8.2.5.3.2.4. By Application

9. Middle East & Africa Floating Production Storage and Offloading Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Propulsion

9.2.3. By Hull Type

9.2.4. By Application

9.2.5. By Country

9.2.5.1. Saudi Arabia Floating Production Storage and Offloading Market Outlook

9.2.5.1.1. Market Size & Forecast

9.2.5.1.1.1. By Value

9.2.5.1.2. Market Share & Forecast

9.2.5.1.2.1. By Type

9.2.5.1.2.2. By Propulsion

9.2.5.1.2.3. By Hull Type

9.2.5.1.2.4. By Application

9.2.5.2. UAE Floating Production Storage and Offloading Market Outlook

9.2.5.2.1. Market Size & Forecast

9.2.5.2.1.1. By Value

9.2.5.2.2. Market Share & Forecast

9.2.5.2.2.1. By Type

9.2.5.2.2.2. By Propulsion

9.2.5.2.2.3. By Hull Type

9.2.5.2.2.4. By Application

9.2.5.3. South Africa Floating Production Storage and Offloading Market Outlook

9.2.5.3.1. Market Size & Forecast

9.2.5.3.1.1. By Value

9.2.5.3.2. Market Share & Forecast

9.2.5.3.2.1. By Type

9.2.5.3.2.2. By Propulsion

9.2.5.3.2.3. By Hull Type

9.2.5.3.2.4. By Application

10. Asia Pacific Floating Production Storage and Offloading Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Size & Forecast

10.2.1. By Type

10.2.2. By Propulsion

10.2.3. By Hull Type

10.2.4. By Application

10.2.5. By Country

10.2.5.1. China Floating Production Storage and Offloading Market Outlook

10.2.5.1.1. Market Size & Forecast

10.2.5.1.1.1. By Value

10.2.5.1.2. Market Share & Forecast

10.2.5.1.2.1. By Type

10.2.5.1.2.2. By Propulsion

10.2.5.1.2.3. By Hull Type

10.2.5.1.2.4. By Application

10.2.5.2. India Floating Production Storage and Offloading Market Outlook

10.2.5.2.1. Market Size & Forecast

10.2.5.2.1.1. By Value

10.2.5.2.2. Market Share & Forecast

10.2.5.2.2.1. By Type

10.2.5.2.2.2. By Propulsion

10.2.5.2.2.3. By Hull Type

10.2.5.2.2.4. By Application

10.2.5.3. Japan Floating Production Storage and Offloading Market Outlook

10.2.5.3.1. Market Size & Forecast

10.2.5.3.1.1. By Value

10.2.5.3.2. Market Share & Forecast

10.2.5.3.2.1. By Type

10.2.5.3.2.2. By Propulsion

10.2.5.3.2.3. By Hull Type

10.2.5.3.2.4. By Application

10.2.5.4. South Korea Floating Production Storage and Offloading Market Outlook

10.2.5.4.1. Market Size & Forecast

10.2.5.4.1.1. By Value

10.2.5.4.2. Market Share & Forecast

10.2.5.4.2.1. By Type

10.2.5.4.2.2. By Propulsion

10.2.5.4.2.3. By Hull Type

10.2.5.4.2.4. By Application

10.2.5.5. Australia Floating Production Storage and Offloading Market Outlook

10.2.5.5.1. Market Size & Forecast

10.2.5.5.1.1. By Value

10.2.5.5.2. Market Share & Forecast

10.2.5.5.2.1. By Type

10.2.5.5.2.2. By Propulsion

10.2.5.5.2.3. By Hull Type

10.2.5.5.2.4. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends and Developments

13. Company Profiles

13.1. SBM Offshore N.V.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services Offered

13.2. TechnipFMC plc

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services Offered

13.3. Saipem S.p.A.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services Offered

13.4. ExxonMobil Corporation

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services Offered

13.5. Shell plc

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services Offered

13.6. MODEC, Inc.

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services Offered

13.7. Bumi Armada Berhad

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services Offered

13.8. BW Offshore Limited

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services Offered

13.9. Yinson Holdings Berhad

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services Offered

13.10.CNOOC Ltd.

13.10.1. Business Overview

13.10.2. Key Revenue and Financials

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services Offered

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the global floating production storage and offloading market in 2023?

The market size of the global floating production storage and offloading market was USD 26.81 Billion in 2023.

Which was the dominant segment in the global floating production storage and offloading market in 2023, by propulsion?

Self-Propelled was the dominant segment in the global floating production storage and offloading market in 2023 by propulsion.

What are the challenges in the global floating production storage and offloading market?

The challenges in the global floating production storage and offloading market include complex project economics and high capital costs, engineering and technical challenges, regulatory compliance and environmental concerns, oil price volatility and market uncertainties, etc.

What are the major drivers for the global floating production storage and offloading market?

The major drivers for the global floating production storage and offloading market include deepwater and ultra-deepwater exploration and production, flexible and cost-effective development option, increasing focus on marginal and stranded fields, growing energy demand in emerging markets, etc.

Related Reports

Parvati Sharma

Account Manager BD

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Press Release

Floating Production Storage and Offloading Market Expands with Self-Propelled Segment at a robust CAGR of 6.13%

Jan, 2024

The increasing global floating production storage and offloading market is driven by deepwater and ultra-deepwater exploration and production, flexible and cost-effective development option during th

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