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FPSO Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 4515071
  • Report
  • March 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence


  • Bluewater Holding BV
  • BW Offshore
  • CNOOC Ltd
  • Modec Inc
  • Petroleo Brasileiro SA
  • Saipem SpA
  • MORE
The Floating Production Storage and Offloading (FPSO) market is in a growing phase on account of increased focus on the development of offshore oil & gas production. The global FPSO market to is expected to grow at a CAGR of more than 6.1%. Globally, there are approximately 183 operating FPSO, as of 2018 , with maximum fleets owned by the operators. Contractors do have their own FPSO vessels, but has lower market share than that of the operators. The significant factors that drive the market include the increase in offshore drilling activities, flexibility and the cost associated with the installing the offshore assets as a FPSO is less expensive than building or installing permanent structures. Moreover, FPSO is flexible towards movements, as the aggregate processing and storing facilities are built on a ship, and it can be connected to any pipeline present on an offshore asset. Despite its numerous advantages, FPSO does have few limitations. The conversion time of a ship to FPSO, self-competition of the companies having offshore pipeline infrastructure, and lastly, in few conditions, the initial cost associated with an FPSO is more as compared with the permanent structures.
  • FPSO market is segmented by four factors i.e., by Construction, by Ownership, by Water-Depth, and by Geography. During 2018, more than 50% of the market share is dominated by operator owned FPSO while the rest are owned by the contractors.
  • FPSO market is more concentrated on the South American region. There are other regions in which offshore drilling activities are taking place. North America and the Middle East are the major untapped regions which has negligible numbers of FPSO and is expected to create an ample opportunity for FPSO market in the near future.
  • Geographically, South America is the largest market as compared to other regions as of 2018.
Key Market Trends

Operator Owned FPSO to Dominate the Market
  • As of 2018, there are approximately 215 FSPOs (including operational, under-construction and on order) across the world, of which more than 50% of the FPSO is owned by the operators, while the rest are by the contractors. Of the total FPSOs available, nearly 70% of the total FPSO available are constructed by conversion of existing transportation ships.
  • During the year 2018, more than 80% of the total FPSOs, owned by the operators and the contractors, are operational. In contrast, less than 10% are available for operation as per market demand, and few are under construction i.e., on order.
  • The Petrobras operated P-68 FPSO is one of the prominent operator owned FPSO that has begun oil and gas production from the pre-salt Santos Basin offshore Brazil. Royal Dutch Shell Plc and Total SA are the consortium players along with Petrobras, with minimum share.
  • Petrobras, China National Offshore Oil Corporation (CNNOC) and Total S.A are the key operators, that owns nearly 51 FPSO during 2018, with 85% of the FPSO are operational, while rest are on available and on-order.
South America is Expected to Account for the Major Share in the Market
  • South America is dominating the global FPSO market on account of the widespread development of offshore exploration fields. Brazil individually holds the maximum number of FPSO operations in South America. Moreover, it has been estimated that the country holds recoverable reserves from its offshore oil fields.
  • During 2018, Brazil is one of the prominent country in the region to have maximum FPSO count, with Petrobras as the major field operator, that have neartly 28 FPSOs.
  • The National Oil Company of Brazil, Petroleo Brasileiro (Petrobras), the most prominent FPSO company in South America holds the maximum FPSOs for the development of the country's sub-salt hydrocarbon resources. The development of such projects provides a big thrust to the FPSO market in the region.
Competitive Landscape

The FPSO market is consolidated. The key operators in the FPSO market include Petrobras, China National Offshore Oil Corporation (CNOOC), Total, Exxon Mobil, Royal Dutch Shell Plc., and Chevron Corporation.

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  • Bluewater Holding BV
  • BW Offshore
  • CNOOC Ltd
  • Modec Inc
  • Petroleo Brasileiro SA
  • Saipem SpA
  • MORE
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions



4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 FPSOs in Operation, by Region and Operator, 2018
4.4 Number of FPSOs Planned/Announced by Region, 2018
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.7.1 Drivers
4.7.2 Restraints
4.8 Supply Chain Analysis
4.9 Porter's Five Forces Analysis
4.9.1 Bargaining Power of Suppliers
4.9.2 Bargaining Power of Consumers
4.9.3 Threat of New Entrants
4.9.4 Threat of Substitute Products and Services
4.9.5 Intensity of Competitive Rivalry

5.1 Ownership
5.1.1 Operator Owned
5.1.2 Contractor Owned
5.2 Water Depth
5.2.1 Shallow Water
5.2.2 Deep Water
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa

6.1 Mergers and Acquisitions Joint Ventures Collaborations and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Key Company Profiles
6.3.1 FPSO Contractors Modec Inc SBM Offshore NV BW Offshore Teekay Offshore Partners LP Bluewater Holding BV Saipem SpA Petrofac Limited
6.3.2 FPSO Operators Petroleo Brasileiro SA CNOOC Ltd Total SA Exxon Mobil Corporation Chevron Corporation Royal Dutch Shell Plc BP Plc

Note: Product cover images may vary from those shown


  • BP Plc
  • BW Offshore
  • Bluewater Holding BV
  • CNOOC Ltd
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Modec Inc
  • Petrofac Limited
  • Petroleo Brasileiro SA
  • Royal Dutch Shell Plc
  • SBM Offshore NV
  • Saipem SpA
  • Teekay Offshore Partners LP
  • Total SA
Note: Product cover images may vary from those shown