Floating Production Storage & Offloading Market Size, 2033

Floating Production Storage and Offloading Market Report by Vessel Type (Converted and Redeployed, New-Build), Design (Spread Mooring FPSO Vessels, Single Point Mooring FPSO Vessels, Dynamic Positioning FPSO Vessels), Propulsion Type (Self-Propelled, Towed), Hull Type (Single Hull, Double Hull), Application (Shallow Water, Deepwater, Ultra-deep Water), and Region 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A3066

Buy Now New Year Sale

Market Overview:

The global floating production storage and offloading market size reached USD 22.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 36.6 Billion by 2033, exhibiting a growth rate (CAGR) of 5.14% during 2025-2033.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 22.8 Billion
Market Forecast in 2033	USD 36.6 Billion
Market Growth Rate (2025-2033)	5.14%

Floating production storage and offloading (FPSO) vessels are used in offshore oil and gas fields to receive hydrocarbons from subsea oil reservoirs and process them into oil, gas and water. These vessels store processed crude oil or natural gas until it is offloaded to a shuttle tanker or transported through an export pipeline to refineries. They have pumps, generators, storage tanks, control rooms and accommodation facilities, which help to extract and refine oil and gas in remote areas at low prices. As compared to conventional offshore oil and gas platforms, FPSO vessels are more flexible, versatile, safe, time-efficient and offer high storage capacity.

FPSO vessels do not require expensive subsea oil pipelines to export oil and can be moved to another location when an existing oilfield is depleted. Consequently, they are gaining preference in frontier regions wherein local pipeline infrastructure is not available and smaller oil and gas fields exhaust in a few years. They are also considered suitable for unfavorable environmental conditions as they comprise detachable turret systems that can be released during an emergency and reattached to continue operations. These factors, in confluence with the rising demand for energy, are acting as major growth-inducing factors bolstering the market growth. Apart from this, the declining onshore oil exploration activities, along with the growing focus on deep-water oil extraction in remote locations, are contributing to the market growth. Moreover, the integration of advanced technologies and digitization of FSPO vessels are anticipated to drive the market further in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global floating production storage and offloading market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on vessel type, design, propulsion type, hull type and application.

Breakup by Vessel Type:

Converted and Redeployed
New-Build

Breakup by Design:

Spread Mooring FPSO Vessels
Single Point Mooring FPSO Vessels
Dynamic Positioning FPSO Vessels

Breakup by Propulsion Type:

Self-Propelled
Towed

Breakup by Hull Type:

Single Hull
Double Hull

Breakup by Application:

Shallow Water
Deepwater
Ultra-deep Water

Breakup by Region:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Bumi Armada Berhad (Usaha Tegas Sdn Bhd), Bluewater Energy Services B.V. (Aurelia Energy N.V.), BP Plc, BW Offshore Limited, Chevron Corporation, Exxon Mobil Corporation, MODEC Inc., Petróleo Brasileiro S.A., SBM Offshore N.V., Royal Dutch Shell PLC and Teekay Corporation.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Vessel Type, Design, Propulsion Type, Hull Type, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Bumi Armada Berhad (Usaha Tegas Sdn Bhd), Bluewater Energy Services B.V. (Aurelia Energy N.V.), BP Plc, BW Offshore Limited, Chevron Corporation, Exxon Mobil Corporation, MODEC Inc., Petróleo Brasileiro S.A., SBM Offshore N.V., Royal Dutch Shell PLC and Teekay Corporation
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global floating production storage and offloading market was valued at USD 22.8 Billion in 2024.

We expect the global floating production storage and offloading market to exhibit a CAGR of 5.14% during 2025-2033.

The rising number of offshore exploration activities, along with the growing requirement for integrated compact systems in offshore reservoirs to withstand extreme conditions, is primarily driving the global floating production storage and offloading market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of the end-use industries for floating production storage and offloading.

Based on the vessel type, the global floating production storage and offloading market can be segmented into converted and redeployed and new-build. Currently, converted and redeployed holds the majority of the global market share.

Based on the design, the global floating production storage and offloading market has been divided into spread mooring FPSO vessels, single point mooring FPSO vessels, and dynamic positioning FPSO vessels. Among these, spread mooring FPSO vessels currently exhibit a clear dominance in the market.

Based on the propulsion type, the global floating production storage and offloading market can be categorized into self-propelled and towed, where self-propelled accounts for the largest market share.

Based on the hull type, the global floating production storage and offloading market has been segregated into single hull and double hull. Currently, double hull exhibits a clear dominance in the market.

Based on the application, the global floating production storage and offloading market can be bifurcated into shallow water, deepwater, and ultra-deep water. Among these, shallow water holds the majority of the total market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global floating production storage and offloading market include Bumi Armada Berhad (Usaha Tegas Sdn Bhd), Bluewater Energy Services B.V. (Aurelia Energy N.V.), BP Plc, BW Offshore Limited, Chevron Corporation, Exxon Mobil Corporation, MODEC Inc., Petróleo Brasileiro S.A., SBM Offshore N.V., Royal Dutch Shell PLC, and Teekay Corporation.

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Purchase Options New Year Sale

Inquire Before Buying

Speak to an Analyst

Request Brochure

Request Customization

Benefits of Customization

Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.

Floating Production Storage and Offloading Market Researh Report

Market Overview:

Key Market Segmentation:

Competitive Landscape:

Report Coverage:

Key Questions Answered in This Report

1. How big is the global floating production storage and offloading market?

2. What is the expected growth rate of the global floating production storage and offloading market during 2025-2033?

3. What are the key factors driving the global floating production storage and offloading market?

4. What has been the impact of COVID-19 on the global floating production storage and offloading market?

5. What is the breakup of the global floating production storage and offloading market based on the vessel type?

6. What is the breakup of the global floating production storage and offloading market based on the design?

7. What is the breakup of the global floating production storage and offloading market based on the propulsion type?

8. What is the breakup of the global floating production storage and offloading market based on the hull type?

9. What is the breakup of the global floating production storage and offloading market based on the application?

10. What are the key regions in the global floating production storage and offloading market?

11. Who are the key players/companies in the global floating production storage and offloading market?