FPSO market projected to reach $46.2 billion by 2033, driven by deepwater exploration and production.

From GlobeNewswire: 2024-08-25 23:58:00

Allied Market Research published a report on the Floating Production Storage and Offloading (FPSO) Market forecasting a value of $46.2 billion by 2033, growing at a CAGR of 6.3% from 2024. The market is driven by increasing exploration and production activities in deepwater and ultra-deepwater offshore fields. Challenges include high initial capital expenditure, but opportunities arise from advanced technologies and sustainable energy integration. Converted FPSOs lead the market, offering cost-effective offshore production solutions. Self-propelled FPSOs are in demand for operational flexibility, and double hull designs enhance safety and environmental protection. Shallow water applications are growing, with the LAMEA region expected to dominate the market by 2033. Leading players include MODEC, Inc., SBM Offshore N.V., and BW Offshore. Allied Market Research provides comprehensive analysis and insights into the global FPSO market, highlighting key players, market trends, and growth opportunities. For more information, visit: https://www.alliedmarketresearch.com/floating-production-storage-and-offloading-market



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