Global Floating Production Systems Market Assessment and Key Insights Analyzed till 2019

In order to study the various trends and patterns prevailing in the overall market for Floating Production Systems, Market Research Reports Search Engine (MRRSE) has included a new report titled “Floating Production Systems Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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Floating Production Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” presents a detailed overview of the floating production systems market, its growth drivers and restraints, as well as its segmentation. Analyzing the market for developmental trends of the past, the report also presents a forecast of the market’s state over the years between 2013 and 2019. As per the report, the global floating production systems market, which was valued in 2012 at US$12.6 bn, is expected to expand and reach a value of US$38.7 bn by 2019.

As per the report, deep water discoveries and increase in subsea drilling activities in the oil and gas industry in the Asia Pacific and Rest of the World have boosted the market for floating production systems. As per the statistics mentioned in the report, the Rest of the World market led the global floating production systems market in 2012, with the highest contribution in revenue. Additionally, Rest of the World has the highest demand for floating production systems, and will continue to dominate the market in the forecast period. However, factors such as tedious maintenance of these systems and the high installation costs of the systems could curb the growth of the floating production systems market.

There are primarily four types of products marketed under floating production systems: FSO, SPAR, TLP, and FPSO, out of which FPSO is expected to rule the market for floating production systems, since several companies use FPSO to extract crude oil or for offshore drilling activities. Since multiple tasks can be performed by FPSOs, it is the most preferred choice for the offshore drilling sector. Both FSO and FPSO help in reducing the operational costs by eliminating the need for pipeline infrastructure to transport the crude oil from one place to another.

TLP and SPAR are used in case the drilling site experiences high waves, causing huge vibrations, thus proving to be a hindrance in drilling operations. The use of SPAR and TLP helps eliminate these kind of vibrations, making the drilling operation smoother and efficient for a long time. Major utilization of TLP and SPAR is done in Africa and Brazil, due to the large number of drilling activities carried out in these regions. Moreover, the report forecasts that over 80 offshore drilling projects will be carried out in these regions in the coming years, thus propelling the market for SPAR and TLP.

Since a large number of oil reserves in Europe are located in offshore regions such as the Norwegian Sea and the Barents Sea, steady growth of the floating production systems market is expected in these regions. Due to the growing population and heavy industrialization, Asia Pacific and North America are anticipated to witness growth of the market for floating production systems.

It is forecasted that more than 80 offshore drilling projects will be carried out in the near future in Brazil and Western Africa. European region is also projected to rise as a large number of upcoming offshore drilling projects are there in the U.K. Majority of the Europe’s oil reserves are located in the offshore regions of Norway such as the North Sea, the Barents Sea and the Norwegian Sea. North America and Asia Pacific region are also expected to show a remarkable growth in the near future owing to growing population and rapid industrialization especially in developing economies such as India and China. Companies such as Royal Dutch Shell Plc and ConocoPhillips are procuring floating production equipments from service provider companies to drill various offshore fields.

North America, Europe, Asia Pacific and Rest of the World (RoW) are the major geographical areas covered in the report. Each geographical region has been segmented further on the basis of Product type. Revenue forecasts and estimates for each product segment have been provided for the period from 2013 to 2019.

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The report also provides thorough analysis and revenue of companies such as Bumi Armada Berhad, Hyundai Heavy Industries Co. Ltd, Keppel Offshore & Marine Ltd, Malaysia Marine and Heavy Engineering Berhad, Mitsubishi Heavy Industries Ltd, Samsung Heavy Industries Co. Ltd, SBM Offshore N.V., Teekay Corporation, Technip S.A. and Worley Parsons Limited. These companies are likely to dominate the floating production systems market. The report provides a detailed analysis of various factors influencing floating production systems industry with the help of Porter’s five forces analysis. The analysis also helps understand the degree of competition prevalent in the market. The report also analyzes the value chain and various drivers and restraints of the floating production systems market.

Floating Production Systems Market: End-user Analysis

FPSO
TLP
SPAR
FSO

Floating Production Systems Market: Regional Analysis

North America
Europe
Asia Pacific
Rest of the World (RoW)

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