Global FPS Market Trends of Product Portfolio Analysis with Forecast till 2023
A Floating Production Storage (FPS) unit is a floating vessel used by the offshore oil and gas industry for the production and processing of hydrocarbons, and for the storage of oil. A FPS vessel is designed to receive hydrocarbons produced by itself or from nearby platforms or subsea template, process them, and store oil until it can be offloaded onto a tanker or, less frequently, transported through a pipeline. FPSs are preferred in frontier offshore regions as they are easy to install, and do not require a local pipeline infrastructure to export oil. FPSs can be a conversion of an oil tanker or can be a vessel built specially for the application. A vessel used only to store oil (without processing it) is referred to as a floating storage and offloading (FSO) vessel.
A separate section with FPS industry key players is included in the report, which provides a comprehensive analysis of price, cost, gross, revenue, product picture, specifications, company profile, and contact information. Development and Research plays a vital role towards the innovation in any given industry which require to execute. Additionally, performing research and development offers a competitive advantage over the competitors owing to regular introduction of products and prototypes to attract consumers. This is expected to have a positive impact on the FPS market growth over the forecast period.
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The Global Floating Production Storage (FPS) Market is in a growth phase, on account of the increased focus on the development of offshore oil & gas production. Due to the immense potential of extraction of hydrocarbons from the sea bed, the offshore production of hydrocarbon has been receiving significant thrust. FPSs find various applications, especially in fields that are too far offshore, to build an economical pipeline infrastructure.
June 2017: SBM Offshore announced that the company was awarded contracts for the next phase of the Liza project in Guyana
MAJOR PLAYERS INCLUDE - Baker Hughes Inc., Schlumberger Limited, Halliburton Company, SBM Offshore, BW Offshore, and Teekay Corporation, amongst others.
Increasing Energy Demand - A Growth Driver
The increasing energy demand is expected to drive the floating production system market during the coming decade, as the region’s new exploration activity is at an all-time high and the operators are often forced to work in much deeper waters, which require sophisticated technology and equipment. A floating production system typically consists of buoys, turret moorings, and offshore loading towers. The usage of FPS is flexible and can be transferred from location to the other, without much hassle. FPS units are designed to accumulate the hydrocarbons that are produced by the production unit of FPS. The hydrocarbons are stored in the storage unit of the system until they are offloaded into a tanker or transferred through a pipeline. In the case of FPSs, the requirement of the long-distance pipeline from the processing facility is offset, which is a big boost for its adoption.
North America is Expected to Witness Significant Growth
Owing to the considerable investments planned in upstream activities pertaining to deep-water and ultra-deepwater reserves of hydrocarbons, the North American region is expected to witness significant growth during the forecast period,. The improvement in oil prices has led to improved sentiments in the upstream sector in recent months, and companies operating in exploration and production are willing to invest.
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Brazil to Dominate the Market’s Growth
Brazil is anticipated to dominate the market’s growth, on account of the widespread development of offshore exploration fields. The country is likely to witness the development of fields in the sub-salt and post-salt areas, in the deep and ultra-deep offshore areas. The National Oil Company of Brazil, Petroleo Brasileiro (Petrobras), has outlined aggressive plans for the development of the country's sub-salt hydrocarbon resources in the Santos and Campos basins, mainly through FPSs. The development of similar huge projects is expected to boost the FPS market during the forecast period.
FPS Market Forecast 2018-2023
The FPS industry research report analyses the supply, sales, production, and market status comprehensively. Production market shares and sales market shares are analysed along with the study of capacity, production, sales, and revenue. Several other factors such as import, export, gross margin, price, cost, and consumption are also analysed under the section Analysis of FPS production, supply, sales and market status.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
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Reasons to Purchase this Report
Current and future global FPS market outlook in the developed and emerging markets.
Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
The segment that is expected to dominate the market.
The regions that are expected to witness the fastest growth during the forecast period.
Identifying the latest developments and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).
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Detailed TOC of Global FPS Market Forecasts (2018 - 2023)
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
3.4 Government Policies and Regulations
Value Chain Analysis
Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intensity of Competitive Rivalry
Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Type
7.1.2 Tension Leg Platform
7.2 By Water Depth
7.2.1 Shallow Water
7.2.2 Deepwater and Ultra-Deepwater
Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1.4 Rest of Asia-Pacific
8.2 North America
8.2.1 United States
8.2.3 Rest of North America
8.3 South America
8.3.3 Rest of South Africa
8.4.2 United Kingdom
8.4.3 Rest of Europe
8.5 Middle East & Africa
8.5.4 Rest of Middle East & Africa
Key Company Analysis (Overview, Products & Services, Financials, Recent Developments, and Analyst View)
9.1 Baker Hughes Inc.
9.2 BUMI Armada Berhad
9.3 Daewoo Shipbuilding & Marine Engineering Co. Ltd
9.4 Halliburton Company
9.5 Keppel Offshore and Marine Ltd
9.6 Malaysia Marine and Heavy Engineering SDN BHD
9.7 Mitsubishi Heavy Industries Corporation
9.8 Nabors Industries Ltd
9.9 Pipavav Defence and Offshore Engineering Company Ltd
9.1 Samsung Heavy Industries Co. Ltd
9.11 SBM Offshore
9.12 Schlumberger Limited
9.13 Technip SA
9.14 Teekay Corporation
9.15 Weatherford International
10.1 Mergers & Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’s businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Market Reports World is the credible source for gaining the market reports that will provide you with the lead your business needs.
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