New York, USA, Sun, 06 Mar 2022 09:01:22 / Comserve Inc. / — Top Key Company Covered By Mitsubishi Heavy Industries Ltd., TechnipFMC PLC, Hyundai Heavy Industries Co. Ltd, Keppel Offshore & Marine Ltd , Samsung Heavy Industries Co. Ltd, Bumi Armada Berhad, Malaysia Marine and Heavy Engineering Sdn Bhd
Research Nester has published a report titled “Floating Production Systems (FPS) Market: Global Demand Analysis and Opportunity Outlook 2031” which provides a detailed overview of the global Floating Production Systems (FPS) market in terms of segmentation of the market by type, water depth, construction, and by region.
Additionally, for the in-depth analysis, the report encompasses industry growth indicators, restraints, supply and demand risks, along with a detailed discussion of current and future market trends associated with the market growth.
The global floating production systems (FPS) market is estimated to occupy a major portion of the revenue by growing at a CAGR of roughly 10% during the forecast period, i.e., 2022-2031, by due to the growing number of offshore exploration activities and global demand for crude oil. Along with this, growing demand for energy to conduct deep-sea exploration activities and escalating investments to store and offload oil efficiently is also expected to accelerate the market growth in the coming years.
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The market is segmented by type, water depth and construction. On the basis of type, FPSO segment is expected to acquire the largest share during the forecast period owing to the growing popularity of this type of FPS due to its added feature that enables storage of crude oil. Additionally, by water depth, the deep and ultra-deepwater segment is expected to occupy the largest share during the forecast period, owing to increased investment by operators to conduct exploration activities in deep and ultra-deep waters.
Geographically, the global floating production systems (FPS) market is segmented into five major regions, namely North America, Europe, Latin America, Asia-Pacific, Middle East and Africa. Latin America is assessed as grabbing the largest share of the market over the forecast period, owing to growing investments in offshore projects and growing oil and gas production in the region. Moreover, the Middle East and Africa market is expected to take a notable share in the future owing to the increasing number of deep and ultra-deep water activities in Africa.
The research is global in nature and covers detailed analysis of the market in North America (US, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, an analysis including market size, annual growth and opportunity analysis, competitive study of market players, investment opportunities, future prospect demand, etc. was also covered and displayed in the research report.
Rising number of offshore oil exploration activities globally to drive market growth
In recent years, oil companies and governments have focused on conducting offshore oil drilling to reduce the pressure of underground oil reservoirs, as this leads to a reduction in the amount of hydrocarbons and methane released. in the ground. This is expected to increase the number of offshore oil activities and hence the demand for floating production systems in the near future.
However, the cost of floating production systems is expected to be a major impediment to the growth of the global floating production systems (FPS) market during the forecast period.
This report also provides the existing competitive scenario of some of the major players in the global Floating Production Systems (FPS) Market which includes company profiling of Mitsubishi Heavy Industries Ltd., TechnipFMC PLC, Hyundai Heavy Industries Co. Ltd, Keppel Offshore & marine ltd. , Samsung Heavy Industries Co. Ltd, Bumi Armada Berhad, Malaysia Marine and Heavy Engineering Sdn Bhd, Daewoo Shipbuilding & Marine Engineering Co. Ltd., Pipavav Defense and Offshore Engineering, Teekay Tankers Ltd., and others. Profiling contains key business information that encompasses an overview of businesses, products and services, key financials, and recent news and developments. Overall, the report portrays an in-depth overview of the Global Floating Production Systems (FPS) Market which will help industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities and other stakeholders to align their market-centric strategies based on current and projected future trends.
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The Floating Production System (FPS) Market Post Growth with High CAGR ~10% Global Industry Analysis by 2031 appeared first on Comserveonline.
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