North America FPSO Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Water Depth (Shallow Water, Deep Water, and Ultra-Deep Water), Hull (Single Hull and Double Hull), Mooring (Spread Mooring and Disconnectable Mooring), and Construction (Newly Built and Converted)
The FPSO market in North America is expected to grow from US$ 1,650.80 million in 2021 to US$ 2,477.67 million by 2028; it is estimated to register a CAGR of 5.9% from 2021 to 2028.
A significant increase in oil and gas production in deep and ultra-deepwater is the major factor driving the North America FPSO market growth. The industrialization of the deep sea is growing globally. Deepwater areas are one of the important fields for increasing oil and gas reserves and production. Hence, they are emerging as a hotspot for North America oil and gas exploration due to the depletion of easily accessible oil and gas resources and technological improvements.
The FPSO market is stimulated by rising offshore operations in deepwater and ultra-deep seas due to increased investments in such areas. According to EIA, the US produces the bulk of oil and gas from deepwater and ultra-deepwater. Since the last decade, the share of crude oil output from deepwater or ultra-deepwater developments has been growing in this country.
The oil & gas exploration companies, such as Equinor ASA, increasingly focus on deepwater and ultra-deepwater oil and gas extraction. For instance, in 2022, Shell started producing oil at the PowerNap field, with the highest estimated production of 20,000 barrels of oil equivalent per day. Further, in 2018, Equinor ASA Corporation announced that the Equinor ASA-operated Big Foot deepwater project, located in the US has started crude oil and natural gas production. Thus, rising oil and gas production in deepwater and ultra-deepwater is driving the demand for the integration of FPSOs into the ships used to explore oil and gas, which fuels the growth of the FPSO market.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America FPSO market at a notable CAGR during the forecast period.
North America FPSO Market Revenue and Forecast to 2028 (US$ Million)
North America FPSO Market Segmentation
The North America FPSO market is segmented into water-depth, hull, mooring, construction, and country. Based on water depth, the market is segmented into shallow water, deep water, and ultra-deep water. The shallow water segment held the largest market share in 2021. Based on hull, the market is bifurcated into single hull and double hull. The double hill segment held a larger market share in 2021. Based on mooring, the market is divided into spread mooring and disconnectable mooring. The spread mooring segment held a larger market share in 2021. Based on construction, the market is bifurcated into newly built and converted. The converted segment held a larger market share in 2021. Based on country, the North America FPSO market is segmented into the US, Canada, and Mexico. Further, the US held the largest market share in 2021.
BW Offshore; CNOOC Limited; Energies; Equinor ASA; Exxon Mobil Corporation; MODEC, Inc; Petrobras; SBM Offshore; and Shell Plc are among the leading companies operating in the North America FPSO market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America FPSO Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America FPSO Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Significant Increase Oil and Gas Production in Deep and Ultra-Deepwater
5.1.2 Increasing Number of Offshore Exploration and Production Activities
5.2 Market Restraints
5.2.1 Various Challenges Faced in FPSO Implementation
5.3 Market Opportunities
5.3.1 Demand for Natural Gas and Crude Oil Rising
5.4 Future Trends
5.4.1 Growing Advancements in Subsea Technologies
6. FPSO Market – North America Analysis
6.1 North America FPSO Market Overview
6.2 North America FPSO Market Forecast and Analysis
7. North America FPSO Market Analysis – By Water Depth
7.1 Overview
7.2 North America FPSO Market, By Water Depth (2020 and 2028)
7.3 Shallow Water
7.3.1 Overview
7.3.2 Shallow Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Deep Water
7.4.1 Overview
7.4.2 Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Ultra-Deep Water
7.5.1 Overview
7.5.2 Ultra-Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
8. North America FPSO Market Analysis – By Hull
8.1 Overview
8.2 North America FPSO Market, By Hull (2020 and 2028)
8.3 Single Hull
8.3.1 Overview
8.3.2 Single Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Double Hull
8.4.1 Overview
8.4.2 Double Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
9. North America FPSO Market Analysis – By Mooring
9.1 Overview
9.2 FPSO Market, By Mooring (2020 and 2028)
9.3 Spread Mooring
9.3.1 Overview
9.3.2 Spread Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Disconnectable Mooring
9.4.1 Overview
9.4.2 Disconnectable Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
10. North America FPSO Market Analysis – By Construction
10.1 Overview
10.2 North America FPSO Market, By Construction (2020 and 2028)
10.3 Newly Built
10.3.1 Overview
10.3.2 Newly Built: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Converted
10.4.1 Overview
10.4.2 Converted: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
11. North America FPSO Market – Country Analysis
11.1 Overview
11.1.1 North America FPSO Market Breakdown, by Country
11.1.1.1 US FPSO Market, Revenue and Forecast to 2028
11.1.1.1.1 US FPSO Market Breakdown, by Water Depth
11.1.1.1.2 US FPSO Market Breakdown, by Hull
11.1.1.1.3 US FPSO Market Breakdown, by Mooring
11.1.1.1.4 US FPSO Market Breakdown, by Construction
11.1.1.2 Canada FPSO Market, Revenue and Forecast to 2028
11.1.1.2.1 Canada FPSO Market Breakdown, by Water Depth
11.1.1.2.2 Canada FPSO Market Breakdown, by Hull
11.1.1.2.3 Canada FPSO Market Breakdown, by Mooring
11.1.1.2.4 Canada FPSO Market Breakdown, by Construction
11.1.1.3 Mexico FPSO Market, Revenue and Forecast to 2028
11.1.1.3.1 Mexico FPSO Market Breakdown, by Water Depth
11.1.1.3.2 Mexico FPSO Market Breakdown, by Hull
11.1.1.3.3 Mexico FPSO Market Breakdown, by Mooring
11.1.1.3.4 Mexico FPSO Market Breakdown, by Construction
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 MODEC, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Petrobras
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 SBM Offshore
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 CNOOC Limited
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Energies
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 EXXON MOBIL CORPORATION
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 BW Offshore
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Equinor ASA
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Shell plc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America FPSO Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 3. US FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 4. US FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 5. US FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 6. US FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 7. Canada FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 8. Canada FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 9. Canada FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 10. Canada FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 11. Mexico FPSO Market, Revenue and Forecast to 2028 – By Water Depth (US$ million)
Table 12. Mexico FPSO Market, Revenue and Forecast to 2028 – By Hull (US$ million)
Table 13. Mexico FPSO Market, Revenue and Forecast to 2028 – By Mooring (US$ million)
Table 14. Mexico FPSO Market, Revenue and Forecast to 2028 – By Construction (US$ million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. North America FPSO Market Segmentation
Figure 2. North America FPSO Market Segmentation – By Country
Figure 3. North America FPSO Market Overview
Figure 4. Ultra Deep Segment held the Largest Share of North America FPSO Market
Figure 5. Spread Mooring Segment held the Largest Share of North America FPSO Market
Figure 6. Double Hull Segment held the Largest Share of North America FPSO Market
Figure 7. Converted Segment held the Largest Share of North America FPSO Market
Figure 8. US to Show Great Traction During Forecast Period
Figure 9. North America – PEST Analysis
Figure 10. North America FPSO Market– Ecosystem Analysis
Figure 11. North America FPSO Market: Impact Analysis of Drivers and Restraints
Figure 12. North America FPSO Market Forecast and Analysis (US$ Million)
Figure 13. North America FPSO Market Revenue Share, by Water Depth (2020 and 2028)
Figure 14. North America Shallow Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Ultra-Deep Water: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America FPSO Market Revenue Share, by Hull (2020 and 2028)
Figure 18. North America Single Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Double Hull: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America FPSO Market Revenue Share, by Mooring (2020 and 2028)
Figure 21. North America Spread Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Disconnectable Mooring: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America FPSO Market Revenue Share, by Construction (2020 and 2028)
Figure 24. North America Newly Built: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Converted: FPSO Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America FPSO Market, by Key Country - Revenue (2020) (US$ million)
Figure 27. North America FPSO Market Breakdown, by Country, 2020 & 2028 (%)
Figure 28. US FPSO Market, Revenue and Forecast to 2028 (US$ million)
Figure 29. Canada FPSO Market, Revenue and Forecast to 2028 (US$ million)
Figure 30. Mexico FPSO Market, Revenue and Forecast to 2028 (US$ million)
- BW Offshore
- CNOOC Limited
- Energies
- Equinor ASA
- Exxon Mobil Corporation
- MODEC, Inc
- Petrobras
- SBM Offshore
- Shell Plc
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America FPSO market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America FPSO market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the FPSO market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution