Floating Production Systems Market Pegged for Robust Expansion by 2027

1. Floating Production Systems Market Pegged for Robust Expansion by 2027 A new market research report published by Transparency Market Research, titled “Floating Production Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” presents a detailed overview of the floating production systems market, its growth drivers and restraints, as well as its segmentation. Analyzing the market for developmental trends of the past, the report also presents a forecast of the market’s state over the years between 2013 and 2019. As per the report, the global floating production systems market, which was valued in 2012 at US$12.6 bn, is expected to expand and reach a value of US$38.7 bn by 2019. Browse the full Floating Production Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/floating-production-system- market.html As per the report, deep water discoveries and increase in subsea drilling activities in the oil and gas industry in the Asia Pacific and Rest of the World have boosted the market for floating production systems. As per the statistics mentioned in the report, the Rest of the World market led the global floating production systems market in 2012, with the highest contribution in revenue. Additionally, Rest of the World has the highest demand for floating production systems, and will continue to dominate the market in the forecast period. However, factors such as tedious maintenance of these systems and the high installation costs of the systems could curb the growth of the floating production systems market. There are primarily four types of products marketed under floating production systems: FSO, SPAR, TLP, and FPSO, out of which FPSO is expected to rule the market for floating production systems, since several companies use FPSO to extract crude oil or for offshore drilling activities. Since multiple tasks can be performed by FPSOs, it is the most preferred choice for the offshore drilling sector. Both FSO and FPSO help in reducing the operational costs by eliminating the need for pipeline infrastructure to transport the crude oil from one place to another. TLP and SPAR are used in case the drilling site experiences high waves, causing huge vibrations, thus proving to be a hindrance in drilling operations. The use of SPAR and TLP helps eliminate these kind of vibrations, making the drilling operation smoother and efficient for a long time. Major utilization of TLP and SPAR is done in Africa and Brazil, due to the large number of drilling activities carried out in these regions. Moreover, the

2. report forecasts that over 80 offshore drilling projects will be carried out in these regions in the coming years, thus propelling the market for SPAR and TLP. Since a large number of oil reserves in Europe are located in offshore regions such as the Norwegian Sea and the Barents Sea, steady growth of the floating production systems market is expected in these regions. Due to the growing population and heavy industrialization, Asia Pacific and North America are anticipated to witness growth of the market for floating production systems. Some of the major companies listed in the report are Hyundai Heavy Industries Co. Ltd, Bumi Armada Berhad, Malaysia Marine and Heavy Engineering Berhad, Keppel Offshore & Marine Ltd, Mitsubishi Heavy Industries Ltd, SBM Offshore N.V., Samsung Heavy Industries Co. Ltd, Teekay Corporation, Technip S.A., and Worley Parsons Limited. About Us Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories. TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.” Contact Transparency Market Research State Tower, 90 State Street, Suite 700, Albany Website: https://www.transparencymarketresearch.com