Floating Production Storage and Offloading Market

The global Floating Production Storage and Offloading market was valued at USD 20.63 Billion in 2020 and is projected to reach USD 33.61 Billion by 2028, growing at a CAGR of 6.29% from 2021 to 2028. 

A floating production storage and offloading (FPSO) unit is a floating vessel used by the offshore oil and gas industry for the production and processing of hydrocarbons, and for the storage of oil. An FPSO vessel is designed to receive hydrocarbons produced by itself or from nearby platforms or subsea template, process them, and store oil until it can be offloaded onto a tanker or, less frequently, transported through a pipeline.

The global Floating Production Storage and Offloading market report provides a thorough analysis of each segment, region, and country. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecasts, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report. In addition to that, the report will cover a thorough analysis of major players operating in the market based on company overview, product portfolio, recent developments, business strategies, financial performance, and market share among others. Cumulatively, the report will cover all aspects regarding the global Floating Production Storage and Offloading market.

The increase in deep and ultra-deep-water oil & gas production coupled with technological advancements of FPSOs over other production system. Moreover, rise in oil & gas consumption chiefly in power generation and transportation industry is also likely to augment the global floating production storage and offloading market during the forecast period. 

The increased focus on offshore exploration & production activities and emerging requirement for integrated compact systems in deep and ultra deep water offshore reserves to counter extreme conditions is also further expected to support the growth of the FPSO market in the years to come. 

The high initial cost of building FPSOs and fluctuating oil & gas prices is expected to hamper the growth of the floating production storage and offloading market during forecast period.

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

• Impact Assessment of COVID-19 Pandemic
• Pre & Post COVID-19 Market Size
• Qualitative analysis on the short term & long-term impact of COVID-19 on the market
• The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Type Analysis: Floating Production Storage and Offloading

On the basis of Type , the market is segmented into Converted, New-Build. New-Build held the highest share in the global Floating Production Storage and Offloading market and is projected to witness the same trend during the forecast period.

Propulsion Analysis: Floating Production Storage and Offloading

Based on Propulsion , the market is segmented into Self-Propelled, Towed. Self-Propelled accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Hull Type Analysis: Floating Production Storage and Offloading

Based on Hull Type , the market is segmented into Single Hull, Double Hull.

Geographically, the global Floating Production Storage and Offloading market is segmented into North America (U.S., Canada, Mexico), Latin America (Brazil, Argentina, Rest of Latin America), Asia Pacific (Japan, China, India, South Korea, Southeast Asia, Rest of Asia-Pacific), Europe (Germany, Italy, U.K., France, Spain, Rest of Europe), and the Middle East & Africa (GCC Countries, South Africa, Rest of the Middle East and Africa).

The regional section of the Floating Production Storage and Offloading market report also covers, individual market impacting factors at the country level along with the latest regulatory norms affecting current and future domestic market dynamics. The country section of the food ultrasound market report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Each country-level market is analyzed individually and consumption-product ratio, down steam-up stream value chain, raw material supplier concentration, and buyers’ concentration are some of the factors considered while estimating the market scenario for each country. Moreover, the presence of reputed global players in the particular country-level market along with their strategies and business plans to compete with local and domestic brands are analyzed. International politics, trade routes, import-export scenario, and domestic tariffs are considered while

In addition to that, the report covers a thorough segmental analysis for each region comprising of market size and estimations for each segment by region for the years 2016–2028. In addition to that the report analyses Floating Production Storage and Offloading market at country-level hence the regional study is further bifurcated into key country-level markets from each region. North America is anticipated to dominate the global market during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  Some of the prominent country-level markets are the U.S., China, Germany, France, India, and Japan.   

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

Major players in the global Floating Production Storage and Offloading market are . The global Floating Production Storage and Offloading market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network, and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

Apart from that, the competitive landscape section of the report covers the company strengths and weaknesses, market potential, latest market developments, investments in research and development, product sites, facilities & production capacities, and application dominance. All the above information related to companies will be specific to Floating Production Storage and Offloading market.

Key Takeaways and Benefits to Market Participants

• This global Floating Production Storage and Offloading market report will provide you exhaustive qualitative as well as quantitative analysis including market trends, market estimations from 2016-2028
• The report also covers extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends, SWOT analysis, and value chain analysis along with technological landscape and regulatory framework specific to Floating Production Storage and Offloading industry
• In-depth analysis of each market segment for each region prevailing key market opportunities
• Key country-level markets are analyzed from each region based on their revenue contribution to the global market
• Extensive competitive analysis that facilitates market share analysis and provides a clear understanding of the current competitive scenario in the global market

• The global Floating Production Storage and Offloading market was valued at USD 20.63 Billion in 2020.
• The global Floating Production Storage and Offloading Market is projected to reach USD 33.61 Billion by 2028
• North America held the highest share of the Floating Production Storage and Offloading market in 2020.
• Some of the major companies operating in the Floating Production Storage and Offloading market are .