Market Overview:
The global floating production system market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. In addition, the growing exploration and production activities in deepwater and ultra-deepwater regions are also contributing to the growth of this market. The FPSO segment is expected to dominate the global floating production system market during the forecast period. This can be attributed to its ability to handle large volumes of oil and gas, as well as its easy installation and operation.
Product Definition:
Floating production systems are offshore oil and gas production platforms that float on the surface of the ocean. They can be used in both shallow and deep water. These systems are important because they allow for the extraction of oil and gas from areas that would otherwise be inaccessible.
FPSO (Floating Production Storage and Offloading):
Floating production storage and offloading (FPSO) is a method of oil field development, which involves storing crude in the form of a liquid in tanks on the vessel. The crude is then pumped to an offshore platform where it is converted into a gaseous form that can be further transported to land. FPSO has gained popularity due to its ability to reduce costs and time associated with traditional methods of oil drilling.
Production Semisubmersible:
Production semi-submersible is a type of offshore drilling platform that can be used in combination with a subsea system. It provides services such as accommodation, equipment maintenance, crewing and other services. The main purpose of this production system is to increase the rate of penetration (ROP) while maintaining safety requirements for the operator and personnel at all times.
The global floating production system market was valued over USD 20 billion in 2016.
Application Insights:
The energy enterprises segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the growing need for reliable and flexible sources of energy across the globe. Floating production systems are being deployed in various oil & gas projects including deepwater, onshore, shale gas, coal bed methane and tight gas among others.
Tension leg platforms are most commonly used in offshore oil fields as they offer operational flexibility along with improved efficiency over other types of platforms. These systems also help reduce operating costs as well as capital expenditure significantly lowering the overall cost per unit produced which makes them popular among smaller operators who cannot afford high OPEX or OPED costs associated with land-based facilities.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth of this region can be attributed to increasing offshore oil and gas exploration activities in countries such as China, India, Vietnam, Philippines, Indonesia etc. In addition, growing LNG demand from various end-use industries such as power generation and fertilizer production will drive the Asia Pacific FPSO market over the forecast period.
The Middle East & Africa is anticipated to witness significant growth during the forecast years owing to increasing government investments in offshore oil & gas projects especially in Egypt and South Africa for their respective regions are anticipated boost up FPOE activities across these countries which will subsequently drive MEOFPSO industry growth over next eight years.
North America Floating Production System Market Size Analysis Report By Application (Oil & Gas Production [SPE], Oilfield Services), By Region (U.S.
Growth Factors:
- Increasing demand for oil and gas: The global floating production system market is expected to grow at a CAGR of over 5% during the forecast period. This can be attributed to the increasing demand for oil and gas across the globe.
- Rising investments in offshore drilling: There has been a rise in investments in offshore drilling, which is expected to drive the growth of the floating production system market during the forecast period.
- Technological advancements: The floating production system market is witnessing technological advancements, which is likely to boost its growth during the forecast period. Some of these technologies include unmanned systems, subsea processing systems, and advanced control systems among others.
- Stringent environmental regulations: Stringent environmental regulations are prompting companies to adopt cleaner and more efficient technologies such as floating production systems, thereby driving their growth prospects globally
Scope Of The Report
Report Attributes
Report Details
Report Title
Floating Production System Market Research Report
By Type
FPSO (Floating Production Storage and Offloading), Production Semisubmersible, SPAR, TLP (Tension Leg Platforms), Other
By Application
Energy Enterprises, Government
By Companies
Chevron, Petrobras, Shell, BW Offshore, TOTAL, BP, Golar LNG, Petronas, MODEC, SBM Offshore, Chevron
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
125
Number of Tables & Figures
88
Customization Available
Yes, the report can be customized as per your need.
Global Floating Production System Market Report Segments:
The global Floating Production System market is segmented on the basis of:
Types
FPSO (Floating Production Storage and Offloading), Production Semisubmersible, SPAR, TLP (Tension Leg Platforms), Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Energy Enterprises, Government
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Chevron
- Petrobras
- Shell
- BW Offshore
- TOTAL
- BP
- Golar LNG
- Petronas
- MODEC
- SBM Offshore
- Chevron
Highlights of The Floating Production System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- FPSO (Floating Production Storage and Offloading)
- Production Semisubmersible
- SPAR
- TLP (Tension Leg Platforms)
- Other
- By Application:
- Energy Enterprises
- Government
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Floating Production System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Floating Production System is an industrial production model in which a company produces goods or services using multiple platforms and locations. The platform can be a ship, an island, or a floating structure such as a barge. This allows the company to respond quickly to changes in demand and increase efficiency by producing where the market is most active.
Some of the major players in the floating production system market are Chevron, Petrobras, Shell, BW Offshore, TOTAL, BP, Golar LNG, Petronas, MODEC, SBM Offshore, Chevron.
The floating production system market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Floating Production System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Floating Production System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Floating Production System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Floating Production System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Floating Production System Market Size & Forecast, 2020-2028
4.5.1 Floating Production System Market Size and Y-o-Y Growth
4.5.2 Floating Production System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 FPSO (Floating Production Storage and Offloading)
5.2.2 Production Semisubmersible
5.2.3 SPAR
5.2.4 TLP (Tension Leg Platforms)
5.2.5 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Energy Enterprises
6.2.2 Government
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Floating Production System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Floating Production System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 FPSO (Floating Production Storage and Offloading)
9.6.2 Production Semisubmersible
9.6.3 SPAR
9.6.4 TLP (Tension Leg Platforms)
9.6.5 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Energy Enterprises
9.10.2 Government
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 FPSO (Floating Production Storage and Offloading)
10.6.2 Production Semisubmersible
10.6.3 SPAR
10.6.4 TLP (Tension Leg Platforms)
10.6.5 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Energy Enterprises
10.10.2 Government
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 FPSO (Floating Production Storage and Offloading)
11.6.2 Production Semisubmersible
11.6.3 SPAR
11.6.4 TLP (Tension Leg Platforms)
11.6.5 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Energy Enterprises
11.10.2 Government
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 FPSO (Floating Production Storage and Offloading)
12.6.2 Production Semisubmersible
12.6.3 SPAR
12.6.4 TLP (Tension Leg Platforms)
12.6.5 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Energy Enterprises
12.10.2 Government
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 FPSO (Floating Production Storage and Offloading)
13.6.2 Production Semisubmersible
13.6.3 SPAR
13.6.4 TLP (Tension Leg Platforms)
13.6.5 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Energy Enterprises
13.10.2 Government
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Floating Production System Market: Competitive Dashboard
14.2 Global Floating Production System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Chevron
14.3.2 Petrobras
14.3.3 Shell
14.3.4 BW Offshore
14.3.5 TOTAL
14.3.6 BP
14.3.7 Golar LNG
14.3.8 Petronas
14.3.9 MODEC
14.3.10 SBM Offshore
14.3.11 Chevron
