FPSO

FPSO

Global Floating Production Storage and Offloading (FPSO) Market to Reach $8.8 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Floating Production Storage and Offloading (FPSO) estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$8.8 Billion by 2027, growing at a CAGR of 11.5% over the analysis period 2020-2027. Converted, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$4.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the New Build segment is readjusted to a revised 9.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 10.7% CAGR

The Floating Production Storage and Offloading (FPSO) market in the U.S. is estimated at US$1.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2027 trailing a CAGR of 10.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.5% and 9.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR.

Redeployed Segment to Record 11.3% CAGR

In the global Redeployed segment, USA, Canada, Japan, China and Europe will drive the 11.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$659.2 Million in the year 2020 will reach a projected size of US$1.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 46 Featured) -

• Bluewater Energy Services BV
• Bumi Armada Berhad
• Bw Offshore Ltd.
• MODEC
• SBM Offshore NV
• Teekay Corporation
• Yinson Holdings Berhad

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