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The predicted growth for the floating production systems (FPS) market share in the Americas from 2021 to 2026 is USD 22.73 billion at a progressing CAGR of 8.24%.
This floating production system (FPS) market in the Americas forecast report extensively covers segmentations by:
The floating production systems (FPS) market in the Americas report offers information on several market vendors, including BHP Group plc, BP Plc, BW Offshore Ltd., Canadian Natural Resources Ltd., Cenovus Energy inc., Chevron Corp., Excelerate Energy inc., Golar LNG Ltd., Hoegh LNG Holdings Ltd., MODEC inc., Murphy Oil Corp., Petroleo Brasileiro SA, SAIPEM SpA, SBM Offshore NV, Shell plc, Suncor Energy inc., Teekay Corp., TotalEnergies SE, W&T Offshore inc., and Yokogawa Electric Corp. among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.
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The increase in the demand for energy is notably driving the floating production systems (FPS) market growth in the Americas, although factors such as environmental issues arising from offshore oil and gas drilling may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the floating production systems (FPS) industry in the Americas. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Floating Production Systems (FPS) Market Driver in Americas
Key Floating Production Systems (FPS) Market Trend in Americas
Key Floating Production Systems (FPS) Market Challenge in Americas
This floating production system (FPS) market in the Americas analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the floating production systems (FPS) market in Americas as a part of the global oil field equipment and services within the global oil and gas market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the floating production systems (FPS) market in the Americas during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the floating production systems (FPS) market in the Americas encompasses successful business strategies deployed by the key vendors. The floating production systems (FPS) market in the Americas is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The floating production systems (FPS) market in the Americas forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the floating production systems (FPS) market in the Americas, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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72% of the market's growth will originate from South America during the forecast period. Brazil and Guyana are the key markets for the floating production systems (FPS) market in South America. Market growth in this region will be faster than the growth of the market in North America.
The increasing number of E and P projects will facilitate the floating production systems (FPS) market growth in South America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had an adverse impact on the regional market. However, as the lockdown restrictions were eased during the second half of 2020 and with several E&P projects in the pipeline for 2021 market gained momentum. Furthermore, the rising E&P activities and rising government investments in oil and gas projects would propel the growth of the regional floating production systems market during the forecast period.
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The floating production systems (FPS) market share growth in the Americas by the FPSO segment will be significant during the forecast period. An FPSO unit is a floating platform that is equipped with hydrocarbon processing units for separating and treating crude oil, water, and gases, which flow to the platform from subsea wells. In many cases, this is an oil tanker that has been converted into an FPSO. An FPSO system for oil and gas production can be installed from a reservoir that is located at great depths in the ocean. They allow oil companies to produce oil from more remote areas and deepwater reserves. They also store the treated crude oil and use an offloading system to transfer this crude oil to shuttle tankers for transport to facilities situated onshore. Such advantages of FPSO systems will drive the floating production systems market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the floating production systems (FPS) market size in the Americas and actionable market insights on post COVID-19 impact on each segment.
Americas Floating Production Systems (FPS) market - The market size will grow by 50 units during 2019-2023.
Floating Production Systems (FPS) Market Scope in Americas |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.24% |
Market growth 2022-2026 |
$ 22.73 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.45 |
Regional analysis |
South America, North America, Brazil, US, Mexico, and Canada |
Performing market contribution |
South America at 72% |
Key consumer countries |
US, Mexico, Canada, Brazil, and Guyana |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BHP Group plc, BP Plc, BW Offshore Ltd., Canadian Natural Resources Ltd., Cenovus Energy inc., Chevron Corp., Excelerate Energy inc., Golar LNG Ltd., Hoegh LNG Holdings Ltd., MODEC inc., Murphy Oil Corp., Petroleo Brasileiro SA, SAIPEM SpA, SBM Offshore NV, Shell plc, Suncor Energy inc., Teekay Corp., TotalEnergies SE, W&T Offshore inc., and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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