Floating Production Storage and Offloading Market Research Report

Floating Production Storage and Offloading Market:

Growth opportunities in the Floating Production Storage and Offloading Market look promising over the next six years. This is mainly due to the swift globalization, intensified trade activities and the stimulating demand for crude oil production.

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Floating Production Storage and Offloading Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The augmenting demand for the production and transportation of crude oil by developing and developed nations for the automotive transportation industry is driving the growth of the global floating production storage and offloading market. For example, the yearly consumption of oil is nearly around 30 billion barrels which is constantly expanding at a fast rate. The rapid surge in oil extraction throughout the world led by the expanding petrochemical industry for the transportation sector is further driving the market growth. Also, the increasing globalization with the soaring import and export activities across nations have strengthened the market size. In accordance with the report published by the World Trade Organization, the emerging countries in 2018, exported a total of USD 8,779 Billion which includes exports of fuels and mining products, out of which USD 193 Billion were from least developed nations. Thus, this increase in trade will bring enormous growth opportunities for the market.

However, the excessive investment required for installation will hamper the market growth. The floating production storage and offloading vessels are furnished with various processing equipment for storing, separation, and offloading of oil and gas from sub-sea oil wells and platforms. Thus, this demands immense capital expenditure for the load and unload of oil and gas, which will curb the market share.

Type Segment Drivers

Based on the type, converted is predicted to witness a faster CAGR in the market over the forecast period. This is primarily attributed to the easy conversion and huge cost required for the new FPSO.

Propulsion Segment Drivers

Based on the propulsion, towed is expected to dominate the market over the forecast period. This is mainly because of their escalating demand for the import and export activities for loading and uploading the vessels into the shore.

Floating Production Storage and Offloading Market’s leading Manufacturers:

·         SBM Offshore N.V.

·         Samsung Heavy Industries Ltd.

·         Total S.A.

·         Sembcorp Marine Ltd

·         Shell

·         Exxonmobil

·         Keppel Offshore & Ltd.

·         AGCO Corporation.

·         Cosco Shipyard Group Co. Ltd

·         Petroleobrasileiro S.A.

·         Chevron

Floating Production Storage and Offloading Market Segmentation:

Segmentation by Type

·         Converted

·         New-Build

Segmentation by Hull Type

·         Tri-Hull

·         Flat Bottom

·         Displacement Hulls

·         Planing Hulls

·         V-Bottom

·         Others

Segmentation by Propulsion

·         Self-propelled

·         Towed

Segmentation by Usage

·         Ultra-Deepwater

·         Shallow water

·         Deepwater

Segmentation by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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