United States Floating Production Storage & Offloading (FPSO) Industry Insights: Market Growth, Key Players & Offshore Oilfield Innovations 2025

floating production storage & offloading reached US$ 25.68 billion in 2024 and is expected to reach US$ 45.99 billion by 2032, growing at a CAGR of 7.67% during the forecast period 2025-2032.

DataM Intelligence has published a new research report on "Floating Production Storage and Offloading Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

The Floating Production Storage and Offloading (FPSO) market is growing rapidly, fueled by rising global energy demand, cost-efficient production, and deepwater exploration, with its value increasing from US$ 24.12 billion in 2023 to US$ 25.68 billion in 2024.

A recent example is Murphy Oil Corporation's acquisition of the BW Pioneer FPSO vessel from BW Offshore for US$125 million in March 2025. The deal is expected to reduce Murphy's annual operating costs by around US$60 million while maintaining its 2025 capital expenditure guidance of US$1,135-1,285 million.

The US Department of the Interior projects that liquid fuel demand will increase by 0.8 million barrels per day (b/d) in 2025 and by 1.1 million b/d in 2026, largely driven by non-OECD countries, contributing 0.9 million b/d in 2025 and 1.0 million b/d in 2026.

On June 17, 2025, Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) awarded 34 offshore and onshore blocks in its 5th Permanent Concession Offer Cycle, capturing global attention. Major energy players, including Petrobras, Shell, ExxonMobil, Chevron, and Equinor, secured key assets in prolific basins like Foz do Amazonas, Santos, and Pelotas. The auction drew US$250 million in planned exploration investments and exceeded expectations with a record US$180 million signing bonus, over 500% higher than projected.

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Key Players:

MODEC, Inc., Teekay Corporation, SBM Offshore N.V., BW Offshore Limited, Shell, ExxonMobil, Chevron, Bumi Armada, ABB Group, BP plc.

Key Development:

In April 2025, Mitsubishi Heavy Industries (MHI) and SBM Offshore launched a joint study to assess incorporating carbon capture technology into future Petrobras FPSO units. The initiative will combine MHI's Advanced KM CDR Process with SBM's Fast4Ward FPSO design to capture CO2 emissions from onboard gas turbines.

Earlier, in February 2025, China introduced the world's first FPSO vessel with an integrated carbon capture and storage (CCS) system, a significant step for sustainable offshore oil operations. Built in Shanghai, the 333-meter-long, 60-meter-wide vessel has a production capacity of 120,000 barrels of crude oil per day and can capture CO2 emissions during both navigation and oil extraction.

Growth Forecast Projected:

The Global Floating Production Storage and Offloading Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Floating Production Storage and Offloading Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Propulsion: (Self-Propelled, Towed)

By Hull Type: (Single Hull, Double Hull)

By Type: (New Build, Converted)

By Usage: (Shallow Water, Deep Water, Ultra-deep Water)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Floating Production Storage and Offloading producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Floating Production Storage and Offloading revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q: How fast is the Floating Production Storage and Offloading Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 7.67% from 2025 to 2032

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