Global Floating Production Storage And Offloading Market Size, Share, and Forecast Analysis 2025-2029

Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.

What Are the Floating Production Storage And Offloading Market Size Forecast for 2025?
In recent times, the market size for floating production storage and offloading has seen robust growth. It is anticipated to escalate from $21.2 billion in 2024 to $22.7 billion in 2025, marking a compound annual growth rate (CAGR) of 7.1%. The growth during the past period has been influenced by factors such as offshore field development, fluctuating oil prices, flexible economic feasibility, changes in energy demand, geopolitical steadiness, and investments in offshore ventures.

What Is the Market Size Outlook for Floating Production Storage And Offloading Until 2029?
The market size of floating production storage and offloading is predicted to record a robust expansion in the coming years, with an expected valuation of $31.14 billion in 2029, signifying a compound annual growth rate (CAGR) of 8.2%. Factors driving this growth during the projected period include growth in deepwater exploration, rejuvenated investments in offshore projects, escalating energy demand, decommissioning of fixed platforms, geopolitical steadiness, and regulatory amendments. The forecast period is also expected to witness trends like emphasis on operational safety and security, collaborations to mitigate risks, remote surveillance and control systems, commitment to environmental sustainability and reduction of emissions, and the introduction of small to mid-size FPSOs.

Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/floating-production-storage-and-offloading-global-market-report

What Are the Major Factors Driving Demand in the Floating Production Storage And Offloading Market?
The anticipated increase in offshore exploration and production operations is predicted to drive the expansion of the floating production storage and offloading (FPSO) market. Offshore exploration and production operations involve the identification, extraction, and production of oil and gas reserves located under the sea bed in offshore regions. FPSO units are routinely used in these offshore operations due to their adaptability, cost-saving benefits in exploration, field development, production, and functional flexibility. For example, it was predicted by the US Energy Information Administration, a US-based federal statistical system, in March 2023 that there would be an upsurge in U.S. raw oil production to 12.4 million b/d in 2023, up from a record 11.7 million b/d in 2022. Additionally, in September 2022, the U.S. used an average of 86.6 billion cubic feet of natural gas per day, the highest annual usage of natural gas in the U.S. compared to the previous years. Thus, the increasing demand for offshore exploration and production operations is bolstering the growth of the FPSO market.

Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12057&type=smp

How Are End-Use Segments Shaping the Floating Production Storage And Offloading Market Outlook?
The floating production storage and offloading market covered in this report is segmented -

1) By Vessel Type: Converted, New-Build, Redeployed
2) By Propulsion Type: Self-Propelled, Towed
3) By Design: Spread Mooring FPSO Vessels, Single Point Mooring FPSO Vessels, Dynamic Positioning FPSO Vessels
4) By Operator: Small Independent, Large Independent, Leased Operator, Major National Oil Companies
5) By Application: Shallow Water, Deepwater, Ultra-Deep Water

Subsegments:
1) By Converted: Tanker Conversions, Other Vessel Conversions
2) By New-Build: Purpose-Built FPSOs, Modular FPSOs
3) By Redeployed: FPSOs Repositioned For New Fields, FPSOs Upgraded For New Technology Or Capacity

What Are the Strategic Trends Transforming the Floating Production Storage And Offloading Market Landscape?
Technological evolution is a predominant trend propelling the floating production storage and offloading market forward. To maintain their dominance, major companies in this market are fostering innovation and crafting novel technologies. A case in point is the February 2022 unveiling of the PYXIS Lightship technology on a digital platform, by Marine Technical Limits (MTL), a UK-based company offering structural FPSO integrity management services. This groundbreaking solution is aimed at enabling ship owners and FPSO and fixed asset operators to proficiently manage their vessel's lightship weight. The PYXIS Lightship technology boasts of enhanced capabilities for precise monitoring and management of vessel lightship weight, leveraging cutting-edge sensors and data analytics to yield real-time data on weight shifts and distribution within the ship. It further integrates a cloud-based platform for data gathering and storage from various sources such as inspection reports, tank gauge data, and weather predictions. It not only enhances the safety quotient of vessels by ascertaining suitable ballasting but also mitigates accident risks by pinpointing possible issues with lightship weight.

Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=12057&type=smp

Who Are the Prominent Companies in the Floating Production Storage And Offloading Market by ?
Major companies operating in the floating production storage and offloading market include Exxon Mobil Corporation, Shell plc., TotalEnergies SE, Eni S.p.A, China National Offshore Oil Corporation, Petróleo Brasileiro S.A., ConocoPhillips Company, Repsol S.A., Chevron Corporation, Woodside Energy Group Ltd, INPEX Corporation, Hess Corporation, Saipem S.p.A, HD Hyundai Heavy Industries Co. Ltd., TechnipFMC plc, Harbour Energy PLC, SBM Offshore N.V., Samsung Heavy Industries (SHI), Hanwha Ocean Co. Ltd., MISC Berhad, MODEC Inc., BP Plc., Bluewater Energy Services B.V., Teekay Corporation, Sembcorp Marine Ltd, Bumi Armada Berhad, BW Offshore Limited, DOF Subsea AS, PetroVietnam Technical Services Corporation (PTSC), Keppel Offshore & Marine

Which Region Is Expected to See the Highest CAGR in the Floating Production Storage And Offloading Market?
North America was the largest region in the floating production storage and offloading market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the floating production storage and offloading market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.