Floating Production System (FPS) Market was valued at USD 20.5 Billion in 2022 and is projected to reach USD 30.8 Billion by 2030, growing at a CAGR of 6.7% from 2024 to 2030.
The Floating Production System (FPS) market reached a valuation of approximately USD 12.5 billion in 2022, with a compound annual growth rate (CAGR) of around 5.8% from 2023 to 2028. This growth is driven by the increasing demand for offshore oil and gas exploration and production, particularly in deep-water and ultra-deep-water regions. Technological advancements and the expansion of offshore drilling activities contribute to the robust market performance. The FPS market is expected to experience significant growth opportunities due to the rising investments in new field developments and the need for enhanced production capabilities in challenging environments.
Emerging markets in regions such as Southeast Asia, Africa, and Latin America present substantial opportunities for FPS deployment. These areas are witnessing heightened exploration activities and investments in offshore projects, driven by untapped reserves and favorable regulatory frameworks. The market dynamics in these emerging regions are expected to further stimulate the demand for FPS units, enhancing the overall market potential. As these markets continue to grow, they are anticipated to play a crucial role in shaping the future landscape of the FPS industry.
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BUMI Armada Berhad
Daewoo Shipbuilding & Marine Engineering
Hyundai Heavy Industries
Keppel Offshore and Marine
Malaysia Marine and Heavy Engineering
Mitsubishi Heavy Industries
Pipavav Defence and Offshore Engineering
Samsung Heavy Industries
SBM Offshore
Technip
Teekay
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Floating Production System (FPS) Market
Shallow water
Deepwater
Ultra-deepwater
Based on Types the Market is categorized into Below types that held the largest Floating Production System (FPS) market share In 2023.
FPSO
Tension Leg Platform
SPAR
Barge
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Floating Production System (FPS) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Floating Production System (FPS) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Floating Production System (FPS) Market, By Type
6. Global Floating Production System (FPS) Market, By Application
7. Global Floating Production System (FPS) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Floating Production System (FPS) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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