Global FPSO Market worth Projected to Touch US$ 66 Bn by 2026

Published: Wed May 22 2019

A floating production storage and offloading (FPSO) unit is a floating facility based on an oil tanker hull. It is equipped with a hydrocarbon processing unit for the treatment and separation of water, gases, and crude oil, arriving on board from sub-sea oil wells via flexible pipelines. Processed oil is then transferred to cargo tanks in the FPSO ship’s hull. Processed gas is used as fuel for on-board power generation, and surplus gas is either exported via a pipeline to onshore areas or re-injected back into the subsea reservoirs. FPSOs enable the production of oil in deeper water and remote areas with economically viable technology such as fixed piled structures. Moreover, they have the capacity to store processed crude oil and are also equipped with an offloading system to transfer the crude oil to tankers for shipment to refineries.

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This report analyzes and forecasts the FPSO Market at the global and regional levels. The market has been forecast based on revenue (US$ Mn) from 2018 to 2026, considering 2017 as the base year. The study includes drivers and restraints of the global FPSO market. It also covers the impact of these drivers and restraints on the demand for FPSOs. The report also highlights opportunities in the FPSO market at the global and regional levels.

The report includes International Maritime Organization (IMO) regulations, by region, and investment scenario. The study encompasses market attractiveness analysis, wherein segments are benckmarked in terms of type, operator, application, hull, and propulsion based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global FPSO market by segmenting it in terms of type, operator, application, hull, and propulsion. In terms of type, the FPSO market can be classified into converted, new-build, and redeployed. Based on operator, the market can be categorized into small independent, large independent, leased operator, and major national oil companies (NOC’s). In terms of application, the market can be split into shallow water, deep water, and ultra-deep water. Based on hull, the market can be classified into single hull and double hull. In terms of propulsion system, the market can be categorized into self-propelled and towed. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for FPSOs in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The report provides the actual size of the FPSO market for 2017 and estimated market size for 2018, with forecast for the next eight years. The global market for FPSO has been provided in terms of revenue. Market revenue has been provided in US$ Mn. Market numbers have been estimated based on form and end-user segments of the FPSO market. Market size has been provided in terms of global, regional, and country-level markets.

Key players operating in the global FPSO market are MODEC, Inc., SBM Offshore N.V., BW Offshore, Bluewater Energy Services B.V., Bumi Armada Berhad, Yinson Holdings Berhad, and Teekay Corporation.

The global FPSO market has been segmented as follows:

Global FPSO Market, by Type

  • Converted

  • New-build

  • Redeployed

Global FPSO Market, by Operator

  • Small Independent

  • Large Independent

  • Leased Operator

  • Major National Oil Companies (NOC’s)

Global FPSO Market, by Application

  • Shallow Water

  • Deep Water

  • Ultra-deep Water

Global FPSO Market, by Hull

  • Single Hull

  • Double Hull

Global FPSO Market, by Propulsion

  • Self-propelled

  • Towed

Global FPSO Market, by Region

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Norway

    • Italy

    • Russia

    • Rest of Europe

  • Asia Pacific

    • Australia

    • India

    • China

    • Malaysia

    • Indonesia

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa (MEA)

    • Nigeria

    • Angola

    • Rest of Middle East & Africa

Key Takeaways

  • The converted segment accounted for a major share of the FPSO market in 2017 due to low capital requirement and faster deployment of converted FPSOs as compared to new-build FPSOs

  • International Maritime Organization (IMO) Regulation, by Region

  • Analysis Investment Scenario, by Key Market Players

  • Rise in investment in offshore oil and gas exploration, especially in deep water (500 to 1,499 meters) and ultra-deepwater (1,500 meters and above) areas

  • The report provides an exhaustive list of upcoming and existing list FPSO and its storage capacity, owners, operators, project status, etc.

  • Latin America is likely to be a leading player of the global FPSO market during the forecast period

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