"Actionable Insights to Fuel Your Growth"

Floating Production System Market Size, Share & Industry Analysis, By Type (Floating Production, Storage, and Offloading (FPSO),Tension Leg Platforms (TLP), Spar Platform, Semisubmersible Floating Production System, Others), By Water Depth (Shallow Water, Deepwater, Ultra-Deepwater), By Build (New Build, Conversion) and Regional Forecast, 2021-2028

Region : Global | Report ID: FBI101551 | Status : Ongoing



Oil and gas companies are steadily working to increase the production of oil and gas to meet the growing demand. Exploring hydrocarbon is quite a difficult task, but processing and transporting oil & gas from production site to refineries is tedious task. Different types of machinery and equipment’s are used to extract oil & gas and floating production unit assist in the processing and transportation of oil and gas.

To simplify the entire process of turning crude petroleum into usable oil and gas products several types of oil processing platforms are used. These platforms have been used in different fields around the world for different environment. The platforms are equipped with all the machinery required to produce, store, and offload the oil and gas products derived from oil wells.

Key Market Driver -

Key Market Driver – Massive investment in offshore activities and growing deep and ultra-deep E&P

Key Market Restraint -

Key Market Restraint – Expensive installation and frequent maintenance

Hence, floating production system is an essential unit for processing and transporting petroleum products. Growing demand for hydrocarbon and new opportunities in offshore exploration is expected to accelerate the growth of the floating production system.

Floating production system market is segmented into type, water depth, and build. Based on type, the market is divided into FPSO, TLP, Spar Platform, Semisubmersible Floating Production System, and other. Floating Production Storage and Offloading (FPSO) accounts for the largest share of the market due to its capability to work in the deepwater location.

Based on water depth, the floating production system market is bifurcated into shallow water, deepwater, ultra-deepwater. Deepwater and ultra-deepwater depth are expected to account substantial market share owing to a continuous demand for oil and gas.

The major oil and gas companies are shifting towards exploring offshore oil and gas reserves to meet the enormous demand for hydrocarbon. Along with increasing demand, companies are going deep and ultra-deep in the seawater to gain maximum amount of oil and gas which driving the market for floating production system.

Most of the floating production units require high initial investment for installation and frequent maintenance increase the overall operation cost retarding the growth of the floating production system.

Key Players Covered

The key players in the floating production system are Bumi Armada, BW Offshore, MODEC, Inc., Petrobras, SBM Offshore, Keppel Offshore & Marine, DSME Co., Ltd., TechnipFMC, Worley, Aker Solutions, Samsung Heavy Industries Co. Ltd., InterMoor, McDermott International Inc., National Oilwell Varco, and Bluewater Energy Services.

Regional Analysis

The floating production system market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The increased exploration and production of oil and gas in North American countries to cater to the growing demand for oil and gas is accelerating the growth of the floating production system market in North America. Latin America is experiencing the tremendous offshore E&P activities along with deepwater and ultra-deepwater production activities in Brazil is projected to grow the demand for floating production system.

To gain extensive insights into the market, Request for Customization

China is continuously striving for increasing the production of hydrocarbon to meet the rising demand and investing extensively in offshore technologies. Other countries in the region also took the initiative for improving the domestic production which leveraging the growth of the floating production system. In a recent period, Africa has gained momentum for offshore activities, and operators are mainly investing to gain more production that significantly increased the demand for floating production system.




By Type

  • Floating Production, Storage, and Offloading (FPSO)

  • Tension Leg Platforms (TLP)

  • Spar Platform

  • Semisubmersible Floating Production System

  • Others

By Water Depth

  • Shallow Water

  • Deepwater

  • Ultra-Deepwater

By Build

  • New Build

  • Conversion

By Geography

  • North America (the USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)


Key Industry Developments

  • In May 2019, Australian company ConocoPhillips has awarded an EPC contract for its Barossa offshore project to Technip Oceania Pty Ltd. The company will supply subsea production system (SPS) and associated SPS installation support.

  • In May 2019, InterMoor has secured a contract from COOEC, a subsidiary of China National Offshore Oil Corporation to install deepwater mooring system for the Liuhua 16-2 and Lingshui 17-2 floating production facilities in the South China Sea.

  • In February 2019, A collaboration between McDermott International, Inc. and Woodside Energy Ltd. will take front-end engineering and design activities for a floating production unit (FPU) for the Scarborough field gas development in Western Australia.

Floating Production System Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019


  • 4850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients


Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.