Global Floating Production System Market to Witness Exponential Growth Over 2019-2024

July 23, 2020

According to the research report titled ‘Global Floating Production System (FPS) Market Analysis By Platform Type, Application, By Region, By Country (2019 Edition): Forecast to 2024?-- By Region (Americas, Europe, APAC, MEA), By Country, available with Market Study Report LLC, global floating production system market was valued at USD 13.7 billion in 2018 and is expected to amass tremendous revenues over 2019-2024.

Increase in number of offshore projects and rise in deep water drilling activities are creating huge demand for floating production systems. Enhancing economy of under-developed nations and ever-rising demand for energy are encouraging the expansion of oil & gas reserves, thereby propelling the growth of global floating production system market. Moreover, changing consumer preferences, fluctuating crude oil & natural gas prices, and overall strength of the economy are other rationales influencing the market outlook.

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With respect to platform type, the market is divided into semi-submersible, tension leg, SPAR, drill ships, FPSO, and others. Based on application scope, the industry is segmented into deep water, shallow water, and ultra-deep water. Speaking of regional landscape, global floating production system market is categorized into Europe, Americas, Asia Pacific, and Middle East & Africa.

Bumi Armada Berhad, Malaysia Marine & Heavy Engineering, Daewoo Shipbuilding & Marine Engineering Co. Ltd., Keppel Offshore & Marine, Samsung Heavy Industries Co. Ltd., TechnipFMC, WorleyParsons, SBM Offshore, Aker Solutions, and Teekay Offshore Partners L.P. are the leading players in global floating production system market.

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