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FPSO Market Share
Major companies in the FPSO industry are employing diverse strategies to maintain their competitive advantage. These include improving distribution networks, developing new financing options for offshore projects, along with strategic collaborations, joint ventures, and mergers and acquisitions, with an aim to strengthen market position and driving the industry growth.
FPSO Market Companies
Major players operating across the industry include:
- Bumi Armada
- BW Offshore
- CNOOC
- DNV
- Hanwha
- Hyundai Heavy Industries
- KBR
- MODEC
- Petrobras
- Saipem
- SBM Offshore
- Shell
- SHI-MCI
- TechnipFMC
- Woodside
- Yinson
How big is the FPSO market?
The global market for FPSO was reached USD 4.3 billion in 2024 and is projected to grow at a 12.5% CAGR from 2025 to 2034, driven by increasing investments in offshore exploration and advancements in deepwater technologies.
Why is the converted FPSO segment gaining traction?
The converted FPSO segment is expected to exceed USD 3 billion by 2034, as it offers reduced capital costs, faster deployment, and greater operational flexibility compared to new builds.
What is the growth outlook for the ultra-deep FPSO segment?
The ultra-deep FPSO segment is anticipated to grow at a CAGR of over 7% through 2034, supported by advancements in seismic and drilling technologies and the presence of larger oil reserves in deeper basins.
Who are the major players in the FPSO market?
Key players in the FPSO market include Bumi Armada, BW Offshore, CNOOC, DNV, Hanwha, Hyundai Heavy Industries, KBR, MODEC, Petrobras, Saipem, SBM Offshore, Shell, SHI-MCI, TechnipFMC, Woodside, and Yinson.
What trends are influencing the Brazil FPSO market growth?
The Brazil FPSO market is projected to surpass USD 2.5 billion by 2034, led by vast oil discoveries, favorable government policies, and increasing investments in oil and gas exploration.