Floating Production Systems Market 2021 – 2022 | Scope, Revenue, Trends, Drivers, Challenges, and Competitive Landscape

Floating production systems are tools required for offshore oil and gas developments. It is the high demand for crude oil which is compelling companies to drill at such depths and enter deep and ultra-deep waters in the offshore areas in order to explore the potential oil and gas sources.

Such systems are different types such as Floating Production Storage and Offloading (FPSO), Tension Leg Platform (TLP), spar, barge, and others.Further, they are of varied shapes, ranging from ship shape, cylindrical spar shape, or semi-submersible multi-hull shaped.

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The factors which influence the build are such as economic viability, drilling condition, and the need for custom-builds and generic production systems. Moreover, the critical factors responsible for the growth of the industry include growth in offshore drilling activities globally and the growing investments in offshore technologies.

Market dynamics
Since the past few years, theoffshore drilling activities, floating production systems have been witnessing remarkable demand across the world. The deep-water discoveries prevalent in Asia Pacific and also in the rest of the World have also fuelled the demand for these systems substantially. With the increasing preference of FPSOs for the extraction of crude oil and offshore drilling, the segment is expected to gain prominence in the coming years.

Further, the advantages offered by FPSOs, such as the reduction in operational costs to oil companies by simplifying the transportation of crude oil, are also expected to add significantly to their demand over the next few years. TLP and SPAR are also projected to witness strong demand in the near future, thanks to the upcoming offshore drilling projects.However, high manufacturing costs can pose a threat to the market’s growth.

Market segmentation
Floating production systems are segmented on the basis of their types such as Floating Production Storage and Offloading, Barge Spar and tension leg platform(TLP). FPSO is estimated to be the market leader amongst all of these. Further, each type is used for different purpose and according to the depth of offshore field. They are also segmented on the basis of the depth of water which includes deep, shallow and ultra-deep waters.

Geographical analysis
Latin America is the biggest market for floating production systems since a large number of offshore exploration and production activities are carried out in this region. The African and South American countries, such as South Africa and Brazil, lead the global market for floating production systems market geographically.

It is expected that these countries will remain dominant in terms of revenuefor the year to come.The European market is also expected to experience a surge in demand for these systems. It is the increasing number of offshore projects in the U.K. and Norway which might boost the market for floating production systems in Europe. On the other hand, the rise in the population base and the industrialization will drive the markets in Asia Pacific and North America in the near future.

Key Players
Malaysia Marine and Heavy Engineering Berhad, Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Samsung Heavy Industries Co. Ltd., Bumi Armada Berhad, Keppel Offshore & Marine Ltd., SBM Offshore N.V., Technip S.A., Worley Parsons Ltd., and Teekay Corp. are some of the key manufacturers of floating production systems operating across the world.

The report contains comprehensive analysis on:
Floating Production Systems Market Segments
Floating Production Systems Market Drivers, Restraints and Opportunities
Floating Production Systems Market Size & Forecast 2016 to 2022

Supply & Demand Value Chain
Floating Production Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis

Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Floating Production Systems Market
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe

EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Rest of Eastern Europe

Asia Pacific
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

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This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.

Report Highlights:
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage

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