The Asia Pacific Floating Production Storage and Offloading (FPSO) Market would witness market growth of 7.3% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,884 million by 2031. Japan market is showcasing a CAGR of 6.6% during (2024 - 2031). Additionally, The India market would register a CAGR of 8.1% during (2024 - 2031).
FPSOs provide storage for produced oil and gas, allowing the captured resources to be stored on-site before being offloaded to tankers or pipelines. The storage capacity of FPSOs can range from tens of thousands to millions of barrels, depending on the size and design of the vessel. The offloading process is a critical aspect of FPSO operations, as it ensures that oil and gas can be transported to refineries and distribution points.
Moreover, some FPSOs are equipped with advanced technologies that support enhanced oil recovery techniques, such as water injection and gas injection, to increase the overall output from a reservoir. These technologies help optimize production from fields that may have been operating for several years.
Rising energy demand in India and the establishment of China’s deep-ocean drilling vessel, the Meng Xiang, are poised to significantly impact the floating production storage and offloading (FPSO) market. In 2021, India’s crude oil demand increased by 5%, reaching 4.7 million barrels per day (b/d) as its economy returned to pre-pandemic activity levels. India's energy needs are expected to grow as one of the largest energy consumers and the second-most populous country.
Free Valuable Insights: The Global Floating Production Storage and Offloading (FPSO) Market is Predict to reach USD 38.89 Billion by 2031, at a CAGR of 6.7%
Based on Type, the market is segmented into Converted and New Build. Based on Propulsion, the market is segmented into Self-Propelled and Towed. Based on Application, the market is segmented into Shallow Water, Deepwater, and Ultra-Deepwater. Based on Hull Type, the market is segmented into Double Hull and Single Hull. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- ABB Group
- Exxon Mobil Corporation
- Emerson Electric Co.
- TotalEnergies SE
- Kongsberg Group
- McDermott International, Ltd.
- MODEC, Inc.
- Bluewater Energy Services B.V.
- SBM Offshore N.V.
- Shell plc
Asia Pacific Floating Production Storage and Offloading (FPSO) Market Report Segmentation
By Type
By Propulsion
By Application
- Shallow Water
- Deepwater
- Ultra-Deepwater
By Hull Type
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
TABLE 1 Asia Pacific Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 2 Asia Pacific Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 3 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 4 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 5 Asia Pacific Converted Market by Country, 2020 - 2023, USD Million
TABLE 6 Asia Pacific Converted Market by Country, 2024 - 2031, USD Million
TABLE 7 Asia Pacific New Build Market by Country, 2020 - 2023, USD Million
TABLE 8 Asia Pacific New Build Market by Country, 2024 - 2031, USD Million
TABLE 9 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 10 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 11 Asia Pacific Self-Propelled Market by Country, 2020 - 2023, USD Million
TABLE 12 Asia Pacific Self-Propelled Market by Country, 2024 - 2031, USD Million
TABLE 13 Asia Pacific Towed Market by Country, 2020 - 2023, USD Million
TABLE 14 Asia Pacific Towed Market by Country, 2024 - 2031, USD Million
TABLE 15 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 16 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 17 Asia Pacific Shallow Water Market by Country, 2020 - 2023, USD Million
TABLE 18 Asia Pacific Shallow Water Market by Country, 2024 - 2031, USD Million
TABLE 19 Asia Pacific Deepwater Market by Country, 2020 - 2023, USD Million
TABLE 20 Asia Pacific Deepwater Market by Country, 2024 - 2031, USD Million
TABLE 21 Asia Pacific Ultra-Deepwater Market by Country, 2020 - 2023, USD Million
TABLE 22 Asia Pacific Ultra-Deepwater Market by Country, 2024 - 2031, USD Million
TABLE 23 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 24 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 25 Asia Pacific Double Hull Market by Country, 2020 - 2023, USD Million
TABLE 26 Asia Pacific Double Hull Market by Country, 2024 - 2031, USD Million
TABLE 27 Asia Pacific Single Hull Market by Country, 2020 - 2023, USD Million
TABLE 28 Asia Pacific Single Hull Market by Country, 2024 - 2031, USD Million
TABLE 29 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Country, 2020 - 2023, USD Million
TABLE 30 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Country, 2024 - 2031, USD Million
TABLE 31 China Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 32 China Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 33 China Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 34 China Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 35 China Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 36 China Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 37 China Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 38 China Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 39 China Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 40 China Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 41 Japan Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 42 Japan Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 43 Japan Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 44 Japan Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 45 Japan Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 46 Japan Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 47 Japan Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 48 Japan Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 49 Japan Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 50 Japan Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 51 India Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 52 India Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 53 India Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 54 India Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 55 India Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 56 India Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 57 India Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 58 India Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 59 India Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 60 India Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 61 South Korea Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 62 South Korea Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 63 South Korea Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 64 South Korea Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 65 South Korea Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 66 South Korea Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 67 South Korea Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 68 South Korea Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 69 South Korea Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 70 South Korea Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 71 Australia Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 72 Australia Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 73 Australia Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 74 Australia Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 75 Australia Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 76 Australia Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 77 Australia Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 78 Australia Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 79 Australia Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 80 Australia Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 81 Malaysia Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 82 Malaysia Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 83 Malaysia Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 84 Malaysia Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 85 Malaysia Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 86 Malaysia Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 87 Malaysia Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 88 Malaysia Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 89 Malaysia Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 90 Malaysia Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 91 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 92 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 93 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 94 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 95 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 96 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 97 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 98 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 99 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 100 Rest of Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 101 Key Information – ABB Group
TABLE 102 Key Information – Exxon Mobil Corporation
TABLE 103 Key Information – Emerson Electric Co.
TABLE 104 Key Information – TotalEnergies SE
TABLE 105 Key Information – Kongsberg Group
TABLE 106 Key Information – McDermott International, Ltd.
TABLE 107 Key Information – MODEC, Inc.
TABLE 108 Key Information – Bluewater Energy Services B.V.
TABLE 109 Key Information – SBM Offshore N.V.
TABLE 110 Key Information – Shell plc
List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific Floating Production Storage and Offloading (FPSO) Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Floating Production Storage and Offloading (FPSO)Market
FIG 4 Market Share Analysis, 2023
FIG 5 Porter’s Five Forces Analysis – Floating Production Storage and Offloading (FPSO) Market
FIG 6 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Type, 2023
FIG 7 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Type, 2031
FIG 8 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2031, USD Million
FIG 9 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Propulsion, 2023
FIG 10 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Propulsion, 2031
FIG 11 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2031, USD Million
FIG 12 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Application, 2023
FIG 13 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Application, 2031
FIG 14 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2031, USD Million
FIG 15 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Hull Type, 2023
FIG 16 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Hull Type, 2031
FIG 17 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2031, USD Million
FIG 18 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Country, 2023
FIG 19 Asia Pacific Floating Production Storage and Offloading (FPSO) Market share by Country, 2031
FIG 20 Asia Pacific Floating Production Storage and Offloading (FPSO) Market by Country, 2020 - 2031, USD Million
FIG 21 SWOT Analysis: ABB GROUP
FIG 22 SWOT Analysis: Exxon Mobil Corporation
FIG 23 Swot Analysis: EMERSON ELECTRIC CO.
FIG 24 SWOT Analysis: TotalEnergies SE
FIG 25 SWOT Analysis: Kongsberg Group
FIG 26 SWOT Analysis: Shell plc