Global Floating Production System Market 2016-2020
Published: Sep 2016 | Pages: 60 | SKU: IRTNTR10134 |
Global outlook of the floating production system market
Technavio’s market research analysts have predicted that the global floating production system market will grow steadily during the predicted period and will post a CAGR of almost 18% by 2020. The use of FPSO vessels is effective in remote or deep water locations since the incorporation of seabed pipelines in such locations incurs massive costs. Also, FPSO eliminates the requirement for long-distance pipelines from the oil well to onshore terminals. They prove to be more economical in smaller oil fields and marginal fields since these oil fields deplete in a few years and installing a fixed platform solution is not cost-efficient. Moreover, the FPSO unit can be moved to a new location once the field depletes and can also operate in harsh environments. The floating units can also navigate to safety during emergency situations, where the FPSO turret sinks beneath waves and can be reconnected later.
This market research and analysis estimates that the rise in deep water and ultra-deep water exploration will be one of the major trends to gain traction in the market in the next four years. New reservoirs are being discovered to meet the demand and supply of petroleum products. The recent discovery of a massive oil reserve in Golan Heights by an Israeli company and the discovery of a reservoir by BP will induce several other organizations to accelerate their exploration activities, in turn, driving the growth of the floating production system market.
Competitive landscape and key vendors
Characterized by the presence of several large international FPSO companies across the globe, the market appears to be highly fragmented. As all players equally compete to gain a better revenue share, the market is highly competitive. Intense competition, rapid advancements in technology, and the exponentially changing dynamics in the market are the key factors that drive the competition among vendors. An increase in product extensions and technological innovations is likely to intensify the competitive environment in the market. The coming years will also witness a number of mergers and acquisitions that will result in market consolidation.
The leading vendors in the market are -
- BW Offshore
- Chevron
- Petrobras
- Shell
The other prominent vendors in the market are Golar LNG, Petronas, MODEC, SBM Offshore, TOTAL, and BP.
Segmentation by equipment type and analysis of the floating production system market
- FPSO (Floating Production Storage and Offloading)
- Production semisubmersible
- SPAR
- TLP (Tension Leg Platforms)
During 2015, the FPSO market segment accounted for about 62% of the total market share and dominated the market. FPSOs are mainly used by companies to extract crude oil through offshore drilling activities, It has a field storage capability and can be used in locations where there is no accessibility to pipeline infrastructure. Eliminating the requirement for pipeline infrastructure, FPSOs reduce operational costs for transporting crude oil.
Geographical segmentation and analysis of the floating production system market
- Americas
- APAC
- EMEA
According to this market study, the Americas will account for about 59% of the total market share by 2020 and will also dominate the floating production system market throughout the predicted period. This region hosts plenty of oil and gas reserves and is a major contributor to the FPSO market. New discoveries in the Latin American countries, such as Brazil, Mexico and Venezuela, shale gas discoveries in the US, and ultra-deep water discoveries in Latin America will drive the demand for floating production systems in this region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global floating production system market?
- What are the key market trends impacting the growth of the global floating production system market?
- What are the challenges to market growth?
- Who are the key vendors in the global floating production system market?
- What are the market opportunities and threats faced by the vendors in the global floating production system market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global floating production system market?
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Table of Contents
PART 01: Executive summary
- Highlights
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
PART 05: Market landscape
- Technological overview
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by equipment type
- Global FPS market segmentation by equipment type 2015
- Global FPS market by equipment type 2020
- Global FPS market by equipment type 2015-2020 (in %)
- Global FPS market by FPSO segment
- Global FPS market by production semisubmersibles segment
- Global FPS market by TLP segment
- Global FPS market by SPAR segment
PART 07: Geographical segmentation
- Global FPS market by geography 2015
- Global FPS market by geography 2020
- Global FPS market by geography 2015-2020
- FPS market in the Americas
- FPS market in EMEA
- FPS market in APAC
PART 08: Market drivers
- Persistent oil and gas demand and production
- Advantages of FPSO
- Growing demand for energy
PART 09: Impact of drivers
PART 10: Market challenges
- End of era of easy oil
- Rising environmental risks
- Investment justification in era of low oil prices
PART 11: Impact of drivers and challenges
PART 12: Market trends
- Persistent fluctuations in oil rigs
- Rise in deepwater and ultra-deepwater exploration
- High demand for FPS
PART 13: Vendor landscape
- Competitive landscape
- Other prominent vendors
PART 14: Key vendor analysis
- BW Offshore
- Chevron
- Petrobras
- Shell
PART 15: Appendix
- List of abbreviations
PART 16: Explore Technavio
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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