Global Floating production system market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a growth rate of more than XX % over the forecast period 2022-2029. Floating production systems referred to as tools that are used for offshore oil and gas development that is solely dependent on these systems. It has its application in exploration and drilling activities in offshore oil and gas production at all depths. The rising demand for crude oil and increasing focus on offshore exploration & production are key factors driving the growth of global floating production system market over the forecast periods.
Over the years the demand for crude oil has significantly increased due to growing urbanization and rising demand for transportation fuel. For instance - according to Statista - in 2021, the global demand for crude oil reached 96.5 million barrels per day and is projected to increase to 104.1 million barrels per day by 2026. Furthermore, the increasing investment in offshore exploration and production is another factor driving the market space. For instance - in November 2021, Brazil's Petrobras announced an investment of USD 68 billion over the 2022-2026 period to foster the exploration and production in the subsalt frontier. Moreover, the company would focus on the production of oil and natural gas in deep- and ultra-deep waters. Also, discoveries supporting deepwater drilling and growing offshore investment with rising technologies are lucrative growth opportunities for market growth. However, increasing mishaps leading to oil spills and expensive installation and frequent maintenance requirements would restrain the market growth over the forecast period 2022-2029.
The regional analysis of global Floating production system market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North American region is estimated as the dominant region worldwide over the forecast years due to factors such as growing demand for oil and gas coupled with an increasing number of oil and gas exploration activities in the region. Whereas, Latin America is projected to grow at the highest CAGR over the forecast period due to factors such as growing number of offshore E&P activities along with deepwater and ultra-deepwater production activities in the region.
Market players included in this report are:
- BUMI Armada Berhad
- Daewoo Shipbuilding & Marine Engineering Co. Ltd
- Hyundai Heavy Industries Co. Ltd
- Keppel Offshore and Marine Ltd
- Teekay Corporation
- Technip S.A
- SBM Offshore
- Samsung heavy industries co. ltd.
- Mitsubishi Heavy Industries Corporation
- Malaysia Marine and Heavy Engineering Sdn Bhd
Recent Developments in the Market:
- In January 2022, McDermott International received a contract from Woodside, for the engineering, procurement, construction, installation and commissioning (EPCIC) services for its floating production unit (FPU) offshore Western Australia.
Global Floating Production System Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Water Depth, Build, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- FPSO
- TLP
- Spar
- Barge
- Others
By Water Depth:
By Build:
By Regions:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Floating Production System Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Floating Production System Market, by Type, 2019-2029 (USD Billion)
- 1.2.3. Floating Production System Market, by Water Depth, 2019-2029 (USD Billion)
- 1.2.4. Floating Production System Market, by Build, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Floating Production System Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Floating Production System Market Dynamics
- 3.1. Floating Production System Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand for crude oil
- 3.1.1.2. Growing focus on offshore exploration & production
- 3.1.2. Market Challenges
- 3.1.2.1. Increasing Mishaps leading to oil spills
- 3.1.2.2. Expensive installation and frequent maintenance requirement
- 3.1.3. Market Opportunities
- 3.1.3.1. Recent discoveries supporting deepwater drilling
- 3.1.3.2. Growing offshore investment from Oil Production companies
Chapter 4. Global Floating Production System Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Floating Production System Market, by Type
- 6.1. Market Snapshot
- 6.2. Global Floating Production System Market by Type, Performance - Potential Analysis
- 6.3. Global Floating Production System Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
- 6.4. Floating Production System Market, Sub Segment Analysis
- 6.4.1. FPSO
- 6.4.2. TLP
- 6.4.3. Spar
- 6.4.4. Barge
- 6.4.5. Others
Chapter 7. Global Floating Production System Market, by Water Depth
- 7.1. Market Snapshot
- 7.2. Global Floating Production System Market by Water Depth, Performance - Potential Analysis
- 7.3. Global Floating Production System Market Estimates & Forecasts by Water Depth 2019-2029 (USD Billion)
- 7.4. Floating Production System Market, Sub Segment Analysis
- 7.4.1. Shallow
- 7.4.2. Deep
- 7.4.3. Ultra-Deep
Chapter 8. Global Floating Production System Market, by Build
- 8.1. Market Snapshot
- 8.2. Global Floating Production System Market by Build, Performance - Potential Analysis
- 8.3. Global Floating Production System Market Estimates & Forecasts by Build 2019-2029 (USD Billion)
- 8.4. Floating Production System Market, Sub Segment Analysis
- 8.4.1. New
- 8.4.2. Converted
Chapter 9. Global Floating Production System Market, Regional Analysis
- 9.1. Floating Production System Market, Regional Market Snapshot
- 9.2. North America Floating Production System Market
- 9.2.1. U.S. Floating Production System Market
- 9.2.1.1. Type breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. Water Depth breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. Build breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada Floating Production System Market
- 9.3. Europe Floating Production System Market Snapshot
- 9.3.1. U.K. Floating Production System Market
- 9.3.2. Germany Floating Production System Market
- 9.3.3. France Floating Production System Market
- 9.3.4. Spain Floating Production System Market
- 9.3.5. Italy Floating Production System Market
- 9.3.6. Rest of Europe Floating Production System Market
- 9.4. Asia-Pacific Floating Production System Market Snapshot
- 9.4.1. China Floating Production System Market
- 9.4.2. India Floating Production System Market
- 9.4.3. Japan Floating Production System Market
- 9.4.4. Australia Floating Production System Market
- 9.4.5. South Korea Floating Production System Market
- 9.4.6. Rest of Asia Pacific Floating Production System Market
- 9.5. Latin America Floating Production System Market Snapshot
- 9.5.1. Brazil Floating Production System Market
- 9.5.2. Mexico Floating Production System Market
- 9.5.3. Rest of Latin America Floating Production System Market
- 9.6. Rest of The World Floating Production System Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. BUMI Armada Berhad
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. Daewoo Shipbuilding & Marine Engineering Co. Ltd
- 10.2.3. Hyundai Heavy Industries Co. Ltd
- 10.2.4. Keppel Offshore and Marine Ltd
- 10.2.5. Teekay Corporation
- 10.2.6. Technip S.A
- 10.2.7. SBM offshore
- 10.2.8. Samsung heavy industries co. ltd.
- 10.2.9. Mitsubishi Heavy Industries Corporation
- 10.2.10. Malaysia Marine and Heavy Engineering Sdn Bhd
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption