Market Insights

Floating Production Storage and Offloading Market is likely to witness an impressive CAGR of 6.1% during the forecast period. Increased focus on offshore exploration and production activities and growing exploration in deep- and ultra-deepwater are the major factors driving the growth of the market. Further, the high demand for FPSO in countries, such as Brazil and Mexico is likely to underpin the floating production storage and offloading market during the forecast period.

Some key takeaways from this report –

The report offers key drivers that trigger the growth in the Floating Production Storage and Offloading Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.

The research offers segment wise analysis of the Floating Production Storage and Offloading Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.

Floating Production Storage and Offloading Market Share: By Type

Based on the type, the floating production storage and offloading market has been segmented as new-build and converted. The converted segment accounts for the major share of the market and is projected to remain the larger segment during the forecast period.

Floating Production Storage and Offloading Market Share: By Hull Type

Based on the hull type, the market is segmented as single hull and double hull. The double hull segment is likely to account for the larger share of the market during the forecast period, owing to the need for protection from water ingression and marine pollution. The segment covers the entire structure of a vessel, which has two or double outer watertight layers.

Floating Production Storage and Offloading Market Share: By Propulsion Type

Based on the propulsion type, the market is segmented as self-propelled and towed. The self-propelled segment is estimated to witness a higher growth during the forecast period. The growth of the segment is due to reduction in external propulsion and transportation cost than FPSOs. In addition, it also consumes less time to transport natural gas and crude oil.

Floating Production Storage and Offloading Market Share: By Usage Type

Based on the usage type, the market is segmented as shallow water, deepwater, and ultra-deepwater. The shallow water segment is expected to lead the market during the forecast period. It is also likely to be the fastest-growing segment of the market as the usage of FPSOs is increasing for oil gas production in water depth of less than 500 meters. The shallow-water segment is also, driven by the low cost of production in comparison to other segments.  

Floating Production Storage and Offloading Market Share: By Region

In terms of regions, Rest of the World is estimated to dominate the floating production storage and offloading market during the forecast period. Among the major regions in Rest of the World, Latin America is expected to lead the market driven by the primary presence in FPSOs. Apart from Latin America, other regions, such as North America, Europe, and Asia-Pacific are populating their immense presence in FPSOs. Further, Mexico is showing keen interest in investing in support energy infrastructure. All these factors are expected to drive the floating production storage and offloading market during the forecast period.

Custom Research:

Stratview research delivers custom research services across the sectors. In case of any custom research requirements, please send your inquiry to [email protected]. Or connect with our experts at +1-313-307-4176.

About Us

Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.