Global Fpso Vessels Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fpso Vessels Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Fpso Vessels are floating vessels used in the offshore oil and gas industry for the production and processing of hydrocarbons and for the storage of petroleum.

Market Overview:

The latest research study on the global Fpso Vessels market finds that the global Fpso Vessels market reached a value of USD 4050.96 million in 2022. It’s expected that the market will achieve USD 5479.79 million by 2028, exhibiting a CAGR of 5.16% during the forecast period.

Opportunities

Optimum design parameters, flexible to field life extension and lower operational cost along with advanced safety features are analyzed to be the key features that will accelerate the product penetration. Advancements in offshore technologies, including double hull & cylindrical hull designs and separable turret system will further attract investments across the industry.
Ongoing offshore exploration & production activities driven by diminishing onshore oil & gas reserves will drive the FPSO market growth. Development challenges associated with fixed infrastructures including site accessibility, excessive costs, environmental conditions and decommissioning issues will further favor the deployment of FPSOs as a viable alternative. Moreover, growing inclination toward fast-track floating solutions along with advancement in subsea technologies will continue to accelerate the industry growth.

Region Overview:

From 2023-2028, Central and South America is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Petrobras, MODEC Inc., Total with the revenue market share of 33.82%, 16.30% and 15.49% in 2018.

Petrobras, abbreviation of Petróleo Brasileiro S.A., Brazilian oil and gas company that was founded in 1953 to engage in the exploration, production, refining, and transport of domestic petroleum and petroleum products.

Teekay has developed from a regional shipping company into one of the world's largest marine energy transportation, storage & production companies.

Segmentation Overview:

Among different product types, New-build segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Ultra-deep Water segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Fpso Vessels market covered in Chapter 3:

MODEC Inc.
Total
SBM Offshore
Teekay Corporation
MISC
INPEX Corporation
Bumi Armada
Petrobras
BW Offshore
Yinson Holdings Berhad

In Chapter 4 and Chapter 14.2, on the basis of types, the Fpso Vessels market from 2018 to 2029 is primarily split into:

Converted
New-build
Redeployed

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fpso Vessels market from 2018 to 2029 covers:

Shallow Water
Deep Water
Ultra-deep Water

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)