Press release
Global Floating Production System Market to See Significant Growth till 2025
Floating production systems are offshore production facilities that are used for the production of hydrocarbons. The process involved separates oil, water, gas, sand, and so on, and distributes the yields to storage, disposal, or transportation facilities. FPS are an essential component required for offshore oil and gas developments. FPS are used for drilling and exploration activities in offshore oil and gas production at various water depths.
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The FPSO market segment accounted for about 62% of the total market share and dominated the market. FPSOs are mainly used by companies to extract crude oil through offshore drilling activities, It has a field storage capability and can be used in locations where there is no accessibility to pipeline infrastructure. Eliminating the requirement for pipeline infrastructure, FPSOs reduce operational costs for transporting crude oil.
According to this market study, the Americas will account for about 59% of the total market share and will also dominate the floating production system market throughout the predicted period. This region hosts plenty of oil and gas reserves and is a major contributor to the FPSO market. New discoveries in the Latin American countries, such as Brazil, Mexico and Venezuela, shale gas discoveries in the US, and ultra-deep water discoveries in Latin America will drive the demand for floating production systems in this region.
In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Floating Production System.
This report presents the worldwide Floating Production System market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
The following manufacturers are covered in this report:
Chevron
Petrobras
Shell
BW Offshore
TOTAL
BP
Golar LNG
Petronas
MODEC
SBM Offshore
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Floating Production System Breakdown Data by Type
FPSO (Floating Production Storage and Offloading)
Production Semisubmersible
SPAR
TLP (Tension Leg Platforms)
Other
Floating Production System Breakdown Data by Application
Energy Enterprises
Government
Floating Production System Production by Region
United States
Europe
China
Japan
Other Regions
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