Floating Production Systems Market – Importance in Offshore Industry
Floating Production Systems Market the report analyzes and forecasts the floating production systems market in terms of revenue. According to the report, the floating production systems market was valued at USD 12,616.0 million in 2012 and is expected to reach USD 38,752.7 million by 2019, expanding at a CAGR of 17.2% between 2013 and 2019.
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Product type segment analyzed in the study include floating production storage and offloading (FPSO), floating storage and offloading (FSO), Tension Leg platform (TLP) and Single Point Anchoring Reservoir (SPAR). In terms of revenue, FPSO was the highest in product segment, accounting for around 63.8% of the total market share in 2012. Companies such as Royal Dutch Shell Plc, Petrobras and ENI are using FPSO to extract crude oil from offshore fields. FSO accounted for a moderate share of the total FPS market, followed by other equipments such as TLP and SPAR.
RoW dominated the global market for floating production systems in 2012. The region constituted the highest percentage of the global FPS market in terms of revenue. RoW is the leading market in terms of demand for FPS as compared to other regions such as Asia Pacific and North America. This is mainly ascribed due to high demand from South American and African countries such as Brazil and South Africa. RoW is anticipated to exhibit the highest growth rate during the forecast period, led by developing economies such as Brazil and South Africa. North America and Asia Pacific accounted for substantial shares of the total FPS market in 2012. The global floating production systems market has witnessed significant growth over the last few years.
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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 are likely to dominate the floating production systems market in the coming future.
Floating Production Systems Market: Product Type Analysis
Floating Production Systems Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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