Market Size of FPSO Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 12.04 Billion |
| Market Size (2029) | USD 18.11 Billion |
| CAGR (2024 - 2029) | 8.50 % |
| Fastest Growing Market | South America |
| Largest Market | South America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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FPSO Market Analysis
The FPSO Market size is estimated at USD 12.04 billion in 2024, and is expected to reach USD 18.11 billion by 2029, growing at a CAGR of 8.5% during the forecast period (2024-2029).
- Over the medium term, the increasing exploration and production activities in deep and ultradeep water depths are expected to drive the FPSO market during the forecasted period.
- On the other hand, the high upfront cost is expected to hinder the market's growth during the forecasted period.
- Nevertheless, the technological advancements and innovation in FPSO systems are expected to create huge opportunities for the FPSO market.
- South America is expected to be a dominant region for the FPSO market due to the increasing offshore activities in the region.
