Global Floating Production Systems Market

The global floating production systems market value is expected to reach $XX.X billion by 20XX, growing at a CAGR of XX.X% from 20XX to 20XX. 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.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 ProductionSystems Market Drivers, Restraints and Opportunities

--> Floating ProductionSystems 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

>> Russia

>> Poland

>> Rest of Eastern Europe

--> Asia Pacific

>> China

>> India

>> Japan

>> 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

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