PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1890537
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1890537
Global Floating Production Systems Market Size Study & Forecast, by Type (FPSO, Tension Leg Platform, SPAR, Semi-submersible, Barge) by Water Depth (Shallow, Deepwater, Ultra-deepwater) and Regional Forecasts 2025-2035
The Global Floating Production Systems (FPS) Market is valued at approximately USD 66.60 billion in 2024 and is anticipated to expand at a CAGR of 10.08% during the forecast period 2025-2035. Floating production systems, including FPSOs, tension leg platforms, SPARs, semi-submersibles, and barges, are specialized offshore structures designed to extract, process, and store hydrocarbons in deepwater and ultra-deepwater fields. These systems are pivotal for enhancing oil and gas recovery from remote offshore locations where traditional fixed platforms are not feasible. The market is propelled by the increasing global demand for energy, the exploration of deepwater and ultra-deepwater oil reserves, and technological innovations in floating architecture and subsea production systems.
Rising investments in offshore energy infrastructure, combined with the continuous modernization of existing facilities, have significantly driven the market. According to industry data, offshore oil production continues to expand in regions such as the Gulf of Mexico, Brazil, and West Africa, necessitating advanced FPS solutions. Furthermore, the strategic pivot toward cleaner and more efficient offshore extraction methods has stimulated demand for modular and high-capacity floating units. However, high capital expenditure, long project timelines, and regulatory complexities may moderate growth in certain regions during the forecast period of 2025-2035.
The detailed segments and sub-segments included in the report are:
By Type:
- FPSO
- Tension Leg Platform
- SPAR
- Semi-submersible
- Barge
By Water Depth:
- Shallow Water (Below 400 m)
- Deepwater (400 to 1,500 m)
- Ultra-deepwater (Above 1,500 m)
By Build Method:
- Newbuild
- Conversion
FPSOs (Floating Production, Storage, and Offloading units) are expected to dominate the market during the forecast period. Their dominance is driven by their versatility, ability to operate in deepwater locations, and capacity to store and process hydrocarbons on-site. FPSOs are widely deployed in both mature and emerging offshore basins, offering operators flexibility and cost efficiency compared to fixed platforms. While FPSOs lead the market today, tension leg platforms and semi-submersibles are gaining traction, especially in ultra-deepwater projects where high stability and performance under extreme conditions are critical.
By revenue contribution, newbuild FPS units currently lead the market. These units are preferred due to their ability to incorporate the latest technology, enhance production efficiency, and extend operational lifespan. Meanwhile, conversion projects-repurposing existing tankers or vessels into FPSOs-represent a rapidly growing segment driven by cost-effectiveness and shorter deployment timelines. This nuanced market landscape underscores the importance of balancing performance, budget considerations, and operational flexibility in offshore energy investments.
North America held the largest market share in 2025, backed by extensive deepwater operations in the Gulf of Mexico and advanced offshore engineering capabilities. Europe, particularly Norway and the UK, remains a mature market with substantial semi-submersible and SPAR deployments. Asia Pacific is projected to witness the fastest growth during 2025-2035, with countries like Brazil, China, and Australia expanding offshore exploration and production initiatives. Factors such as rising energy demand, governmental incentives, and investments in offshore oil infrastructure drive market expansion across these regions.
Major market players included in this report are:
- SBM Offshore N.V.
- MODEC, Inc.
- TechnipFMC
- BW Offshore Limited
- Bumi Armada Berhad
- Teekay Offshore Partners L.P.
- KBR, Inc.
- McDermott International
- Saipem S.p.A.
- Samsung Heavy Industries
- Keppel Corporation
- Hyundai Heavy Industries
- China Offshore Oil Engineering Co., Ltd.
- Aker Solutions ASA
- Mitsui Engineering & Shipbuilding Co., Ltd.
Global Floating Production Systems Market Report Scope:
- Historical Data - 2023, 2024
- Base Year for Estimation - 2024
- Forecast period - 2025-2035
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments and countries in recent years and forecast values for the coming decade. The report incorporates both qualitative and quantitative analyses, highlighting market drivers, challenges, and potential opportunities in micro-markets for stakeholders. Additionally, it presents a detailed assessment of the competitive landscape, profiling key players and their product offerings. The detailed segments and sub-segments of the market are explained above.
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2025 to 2035.
- Annualized revenues and regional-level analysis for each market segment.
- Detailed analysis of the geographical landscape with country-level insights across major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Examination of the competitive structure of the market.
- Demand-side and supply-side analysis of the market.
Table of Contents
Chapter 1. Global Floating Production Systems Market Report Scope & Methodology
- 1.1. Research Objective
- 1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top Down and Bottom-Up Approach
- 1.3. Research Attributes
- 1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
- 1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study
Chapter 2. Executive Summary
- 2.1. CEO/CXO Standpoint
- 2.2. Strategic Insights
- 2.3. ESG Analysis
- 2.4. key Findings
Chapter 3. Global Floating Production Systems Market Forces Analysis
- 3.1. Market Forces Shaping The Global Floating Production Systems Market (2024-2035)
- 3.2. Drivers
- 3.2.1. increasing global demand for energy
- 3.2.2. the exploration of deepwater and ultra-deepwater oil reserves
- 3.3. Restraints
- 3.3.1. high capital expenditure
- 3.4. Opportunities
- 3.4.1. Growing high-capacity floating units
Chapter 4. Global Floating Production Systems Industry Analysis
- 4.1. Porter's 5 Forces Model
- 4.1.1. Bargaining Power of Buyer
- 4.1.2. Bargaining Power of Supplier
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Forecast Model (2024-2035)
- 4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top Investment Opportunities
- 4.5. Top Winning Strategies (2025)
- 4.6. Market Share Analysis (2024-2025)
- 4.7. Global Pricing Analysis And Trends 2025
- 4.8. Analyst Recommendation & Conclusion
Chapter 5. Global Floating Production Systems Market Size & Forecasts by Type 2025-2035
- 5.1. Market Overview
- 5.2. Global Floating Production Systems Market Performance - Potential Analysis (2025)
- 5.3. FPSO
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market size analysis, by region, 2025-2035
- 5.4. Tension Leg Platform
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market size analysis, by region, 2025-2035
- 5.5. SPAR
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market size analysis, by region, 2025-2035
- 5.6. Semi-submersible
- 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.6.2. Market size analysis, by region, 2025-2035
- 5.7. Barge
- 5.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.7.2. Market size analysis, by region, 2025-2035
Chapter 6. Global Floating Production Systems Market Size & Forecasts by Water Depth 2025-2035
- 6.1. Market Overview
- 6.2. Global Floating Production Systems Market Performance - Potential Analysis (2025)
- 6.3. Shallow Water (Below 400 m)
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market size analysis, by region, 2025-2035
- 6.4. Deepwater (400 to 1,500 m)
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market size analysis, by region, 2025-2035
- 6.5. Ultra-deepwater (Above 1,500 m)
- 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.5.2. Market size analysis, by region, 2025-2035
Chapter 7. Global Floating Production Systems Market Size & Forecasts by Build Method 2025-2035
- 7.1. Market Overview
- 7.2. Global Floating Production Systems Market Performance - Potential Analysis (2025)
- 7.3. Newbuild
- 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.3.2. Market size analysis, by region, 2025-2035
- 7.4. Conversion
- 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.4.2. Market size analysis, by region, 2025-2035
Chapter 8. Global Floating Production Systems Market Size & Forecasts by Region 2025-2035
- 8.1. Growth Floating Production Systems Market, Regional Market Snapshot
- 8.2. Top Leading & Emerging Countries
- 8.3. North America Floating Production Systems Market
- 8.3.1. U.S. Floating Production Systems Market
- 8.3.1.1. Type breakdown size & forecasts, 2025-2035
- 8.3.1.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.3.1.3. Build Method breakdown size & forecasts, 2025-2035
- 8.3.2. Canada Floating Production Systems Market
- 8.3.2.1. Type breakdown size & forecasts, 2025-2035
- 8.3.2.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.3.2.3. Build Method breakdown size & forecasts, 2025-2035
- 8.3.1. U.S. Floating Production Systems Market
- 8.4. Europe Floating Production Systems Market
- 8.4.1. UK Floating Production Systems Market
- 8.4.1.1. Type breakdown size & forecasts, 2025-2035
- 8.4.1.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.4.1.3. Build Method breakdown size & forecasts, 2025-2035
- 8.4.2. Germany Floating Production Systems Market
- 8.4.2.1. Type breakdown size & forecasts, 2025-2035
- 8.4.2.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.4.2.3. Build Method breakdown size & forecasts, 2025-2035
- 8.4.3. France Floating Production Systems Market
- 8.4.3.1. Type breakdown size & forecasts, 2025-2035
- 8.4.3.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.4.3.3. Build Method breakdown size & forecasts, 2025-2035
- 8.4.4. Spain Floating Production Systems Market
- 8.4.4.1. Type breakdown size & forecasts, 2025-2035
- 8.4.4.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.4.4.3. Build Method breakdown size & forecasts, 2025-2035
- 8.4.5. Italy Floating Production Systems Market
- 8.4.5.1. Type breakdown size & forecasts, 2025-2035
- 8.4.5.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.4.5.3. Build Method breakdown size & forecasts, 2025-2035
- 8.4.6. Rest of Europe Floating Production Systems Market
- 8.4.6.1. Type breakdown size & forecasts, 2025-2035
- 8.4.6.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.4.6.3. Build Method breakdown size & forecasts, 2025-2035
- 8.4.1. UK Floating Production Systems Market
- 8.5. Asia Pacific Floating Production Systems Market
- 8.5.1. China Floating Production Systems Market
- 8.5.1.1. Type breakdown size & forecasts, 2025-2035
- 8.5.1.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.5.1.3. Build Method breakdown size & forecasts, 2025-2035
- 8.5.2. India Floating Production Systems Market
- 8.5.2.1. Type breakdown size & forecasts, 2025-2035
- 8.5.2.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.5.2.3. Build Method breakdown size & forecasts, 2025-2035
- 8.5.3. Japan Floating Production Systems Market
- 8.5.3.1. Type breakdown size & forecasts, 2025-2035
- 8.5.3.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.5.3.3. Build Method breakdown size & forecasts, 2025-2035
- 8.5.4. Australia Floating Production Systems Market
- 8.5.4.1. Type breakdown size & forecasts, 2025-2035
- 8.5.4.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.5.4.3. Build Method breakdown size & forecasts, 2025-2035
- 8.5.5. South Korea Floating Production Systems Market
- 8.5.5.1. Type breakdown size & forecasts, 2025-2035
- 8.5.5.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.5.5.3. Build Method breakdown size & forecasts, 2025-2035
- 8.5.6. Rest of APAC Floating Production Systems Market
- 8.5.6.1. Type breakdown size & forecasts, 2025-2035
- 8.5.6.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.5.6.3. Build Method breakdown size & forecasts, 2025-2035
- 8.5.1. China Floating Production Systems Market
- 8.6. Latin America Floating Production Systems Market
- 8.6.1. Brazil Floating Production Systems Market
- 8.6.1.1. Type breakdown size & forecasts, 2025-2035
- 8.6.1.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.6.1.3. Build Method breakdown size & forecasts, 2025-2035
- 8.6.2. Mexico Floating Production Systems Market
- 8.6.2.1. Type breakdown size & forecasts, 2025-2035
- 8.6.2.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.6.2.3. Build Method breakdown size & forecasts, 2025-2035
- 8.6.1. Brazil Floating Production Systems Market
- 8.7. Middle East and Africa Floating Production Systems Market
- 8.7.1. UAE Floating Production Systems Market
- 8.7.1.1. Type breakdown size & forecasts, 2025-2035
- 8.7.1.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.7.1.3. Build Method breakdown size & forecasts, 2025-2035
- 8.7.2. Saudi Arabia (KSA) Floating Production Systems Market
- 8.7.2.1. Type breakdown size & forecasts, 2025-2035
- 8.7.2.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.7.2.3. Build Method breakdown size & forecasts, 2025-2035
- 8.7.3. South Africa Floating Production Systems Market
- 8.7.3.1. Type breakdown size & forecasts, 2025-2035
- 8.7.3.2. Water Depth breakdown size & forecasts, 2025-2035
- 8.7.3.3. Build Method breakdown size & forecasts, 2025-2035
- 8.7.1. UAE Floating Production Systems Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. AubinGroup
- 9.2.1. Company Overview
- 9.2.2. Key Executives
- 9.2.3. Company Snapshot
- 9.2.4. Financial Performance (Subject to Data Availability)
- 9.2.5. Product/Services Port
- 9.2.6. Recent Development
- 9.2.7. Market Strategies
- 9.2.8. SWOT Analysis
- 9.3. Baker Hughes Incorporated
- 9.4. Halliburton
- 9.5. BASF SE
- 9.6. Chevron Phillips Chemical Company
- 9.7. Croda International PLC
- 9.8. Impact Fluid Solutions
- 9.9. M&DIndustries of L.A. Inc.
- 9.10. Schlumberger Limited.
- 9.11. Trican Well Service Ltd.
