Floating Production Systems Market Scope and Size by 2031
MARKET INTRODUCTION
A Floating Production System is typically a large ship equipped with processing facilities and moored to a location for a long period. An FPSO is a floating production system that receives fluids (crude oil, water and a host of other things) from a subsea reservoir through risers, which then separate fluids into crude oil, natural gas, water and impurities within the topsides production facilities onboard. Crude oil stored in the storage tanks of the FPSO is offloaded onto shuttle tankers to go to market or for further refining onshore.
MARKET DYNAMICS
The floating production systems market is expected to register a CAGR of over 10% during the forecast period. Factors, such as increased offshore exploration activity and focus on development of offshore oil and gas production, are expected to drive the market for floating production systems. However, high cost of FPS systems, combined with volatile nature of oil prices, are expected to hamper the market's growth. Floating production, storage, and offloading (FPSO) accounts for the largest share of the floating production systems market, due to its additional function of storage of produced oil. FPSO dominates the market, with over 60% of the market share, globally.
MARKET SCOPE
The ˜Global Floating Production Systems Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the floating production systems market with detailed market segmentation by type, water depth, build type, and application. The global floating production systems market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading floating production systems market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The market is segmented into:
1. By Type: Based on the type, the market is categorized into Floating Production Storage and Offloading (FPSO), Tension Leg Platforms (TLP), Spar Platform, Semisubmersible Floating Production System, and others.
2. By Water Depth: Based on water depth, the market is categorized into Shallow Water, Deepwater and Ultra-Deepwater.
3. By Build: Based on Build Type, the market is categorized into New Build and Conversion.
4. By Application: Based on Application, the market is categorized into Energy Enterprises, and Government sector.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The floating production systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the floating production systems market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the floating production systems market in these regions.
IMPACT OF COVID 19
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the floating production systems. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2021. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online.
By Type
By Water Depth
By Build
By Application
MARKET PLAYERS
The report covers vital developments in the floating production systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the floating production systems market are anticipated to have lucrative growth opportunities in the future with the rising demand for floating production systems in the global market. Below mentioned is the list of a few companies engaged in the floating production systems market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the floating production systems market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
A Floating Production System is typically a large ship equipped with processing facilities and moored to a location for a long period. An FPSO is a floating production system that receives fluids (crude oil, water and a host of other things) from a subsea reservoir through risers, which then separate fluids into crude oil, natural gas, water and impurities within the topsides production facilities onboard. Crude oil stored in the storage tanks of the FPSO is offloaded onto shuttle tankers to go to market or for further refining onshore.
MARKET DYNAMICS
The floating production systems market is expected to register a CAGR of over 10% during the forecast period. Factors, such as increased offshore exploration activity and focus on development of offshore oil and gas production, are expected to drive the market for floating production systems. However, high cost of FPS systems, combined with volatile nature of oil prices, are expected to hamper the market's growth. Floating production, storage, and offloading (FPSO) accounts for the largest share of the floating production systems market, due to its additional function of storage of produced oil. FPSO dominates the market, with over 60% of the market share, globally.
MARKET SCOPE
The ˜Global Floating Production Systems Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the floating production systems market with detailed market segmentation by type, water depth, build type, and application. The global floating production systems market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading floating production systems market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The market is segmented into:
1. By Type: Based on the type, the market is categorized into Floating Production Storage and Offloading (FPSO), Tension Leg Platforms (TLP), Spar Platform, Semisubmersible Floating Production System, and others.
2. By Water Depth: Based on water depth, the market is categorized into Shallow Water, Deepwater and Ultra-Deepwater.
3. By Build: Based on Build Type, the market is categorized into New Build and Conversion.
4. By Application: Based on Application, the market is categorized into Energy Enterprises, and Government sector.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The floating production systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the floating production systems market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the floating production systems market in these regions.
IMPACT OF COVID 19
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the floating production systems. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2021. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online.
Floating Production Systems Market Report Analysis
Floating Production Systems Market
-
CAGR (2023 - 2031)XX% -
Market Size 2023
US$ XX Million -
Market Size 2031
US$ XX Million
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- BP
- BW Offshore
- Chevron
- Golar LNG
- MODEC
- Petrobras
- Petronas
- SBM Offshore
- Shell
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
By Type
- Floating Production Storage and Offloading
- Tension Leg Platforms
- Spar Platform
- Semisubmersible Floating Production System
By Water Depth
- Shallow Water
- Deepwater
- Ultra-Deepwater
By Build
- New Build
- Conversion
By Application
- Energy Enterprises
- Government sector
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The report covers vital developments in the floating production systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the floating production systems market are anticipated to have lucrative growth opportunities in the future with the rising demand for floating production systems in the global market. Below mentioned is the list of a few companies engaged in the floating production systems market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the floating production systems market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- BP
- BW Offshore
- Chevron
- Golar LNG
- MODEC
- Petrobras
- Petronas
- SBM Offshore
- Shell
- TOTAL
Floating Production Systems Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | XX% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1.BP
2.BW Offshore
3.Chevron
4.Golar LNG
5.MODEC
6.Petrobras
7.Petronas
8.SBM Offshore
9.Shell
10.TOTAL
1.BP
2.BW Offshore
3.Chevron
4.Golar LNG
5.MODEC
6.Petrobras
7.Petronas
8.SBM Offshore
9.Shell
10.TOTAL
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