Global Floating Production Storage and Offloading Market 2017-2021

This industry research report identifies Bumi Armada, BW Offshore, MODEC, Petrobras, and SBM Offshore as the key vendors in the global floating production storage and offloading market. This industry research report also presents a detailed analysis of the market by water depth (shallow water, deepwater, and ultra-deepwater) and by geography (the Americas, APAC, and EMEA).

Overview of the global floating production storage and offloading market

Technavio’s floating production storage market forecast identifies the high potential for offshore marginal fields to be one of the primary growth factors for the floating production storage and offloading market. Offshore producing wells use floating production storage and offloading vessels as they provide faster deployment than fixed platforms, reduced investment, and well abandonment costs. Influenced by the rising demand for oil and gas, oil companies are preferring small groups of hydrocarbon reserves, termed as marginal fields. Marginal fields are developed for commercial and production due to the technological advances to improve economies of scale and changing economic scenario. Our floating production storage market analysis estimates that this market will witness a sales of more than 210 units by 2021.

Innovations in technology supports the development of more deepwater and ultra-deepwater fields. Floating production storage and offloading vessels provide several advantages such as reduced investments and continuous cash flow. The rising number of deepwater and ultra-deepwater drilling projects is identified to be one of the key trends contributing towards the growth of the offloading (FPSO) market size. To cater extensively to the deepwater and ultra-deepwater projects and enable these vessels to sell the oil and gas produced directly, manufacturers are focusing on developing economical vessels.

Competitive landscape and key vendors

The floating production storage and offloading market is significantly consolidated owing to the presence of several key vendors. Floating production storage and offloading vendors compete intensely to acquire more market share. Intense competition, rapid advances in technology, and the ever-changing market dynamics affects the vendors performance in the FPSO vessel market. Product extensions, technological innovations, and M&A further increases the competition among the players.

The leading vendors in this market are:

• Bumi Armada
• BW Offshore
• MODEC
• Petrobras
• SBM Offshore

The other prominent vendors in the market are Bluewater, MISC Berhad, Saipem, Teekay, and Yinson Holdings.

Segmentation by water depth and analysis of the floating production storage and offloading market

• Shallow water
• Deepwater
• Ultra-deepwater

As shallow water resources are easier to explore since decades, offshore oil and gas activities are prominently conducted in shallow waters. Oil and gas companies are adopting technologically innovated products to efficiently explore the deep offshore reserves.

Geographical segmentation and analysis of the floating production storage and offloading market

• Americas
• APAC
• EMEA

The rise in offshore E&P activities primarily in the North Sea, West Africa, and East African regions will contribute to the growth of the FPSO vessel market in of EMEA. Also, the presence of a high number of OPEC countries and the increased export activities catering to demand centers in APAC, will also drive the market’s grwoth prospects in this region.

Key questions answered in this report 

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global floating production storage and offloading market?
• What are the key market trends impacting the growth of the global floating production storage and offloading market?
• What are the challenges to market growth?
• Who are the key vendors in the global floating production storage and offloading market?
• What are the market opportunities and threats faced by the vendors in the global floating production storage and offloading market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global floating production storage and offloading market?

Technavio also offers customization on reports based on specific client requirement.