Floating Production System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Water Depth, By Build, By Region & Competition, 2021-2031F

Description

The Global Floating Production System Market will grow from USD 18.13 Billion in 2025 to USD 34.11 Billion by 2031 at a 11.11% CAGR. Floating Production Systems (FPS) encompass a range of offshore assets, including Floating Production Storage and Offloading (FPSO) units and Floating Liquefied Natural Gas (FLNG) vessels, designed to receive, process, and store hydrocarbons directly at the extraction site.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 18.13 Billion
Market Size 2031	USD 34.11 Billion
CAGR 2026-2031	11.11%
Fastest Growing Segment	Shallow Water
Largest Market	North America

Key Market Drivers

Increasing investments in deepwater and ultra-deepwater exploration are fundamentally reshaping the sector as major energy operators seek to replenish reserves in prolific basins like the Santos and Campos. This capital influx is directly translating into high-value contracts for complex Floating Production Storage and Offloading (FPSO) units capable of handling high-pressure, high-temperature environments. The scale of these commitments is evident in recent procurement activities where operators are prioritizing high-capacity assets to maximize recovery rates from pre-salt layers.

Key Market Challenges

The immense capital expenditure required for new builds and the constraints on global shipyard capacity constitute a significant barrier to the expansion of the global floating production system market. High upfront financial requirements make investment decisions highly sensitive to market volatility, often deterring operators from committing to capital-intensive projects. Furthermore, the limited availability of shipyard slots suitable for constructing complex floating units creates severe bottlenecks. This scarcity forces operators to contend with extended lead times and inflated construction costs, which erode project economics and delay the deployment of essential infrastructure.

Key Market Trends

Standardization of Hull and Topside Designs is increasingly being adopted by the industry to mitigate construction delays and optimize project economics. By decoupling hull fabrication from specific field contracts, contractors can initiate construction on speculation, thereby significantly reducing the time-to-market for new assets. This "design one, build many" approach allows for the replication of proven hull forms while retaining flexibility for topside customization, effectively addressing the bottlenecks in global shipyard capacity.

Key Market Players

BW Offshore Limited
Keppel Offshore and Marine Ltd
Samsung Heavy Industries Co. Ltd
SBM Offshore NV
Bumi Armada Berhad
Hyundai Heavy Industries Co. Ltd
Mitsubishi Heavy Industries Ltd
TechnipFMC PLC
MODEC Inc.
Teekay Corporation

Report Scope:

In this report, the Global Floating Production System Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Floating Production System Market, By Type:

Floating Production
Storage
and Offloading (FPSO)
Tension Leg Platforms (TLP)
Spar Platform
Others

Floating Production System Market, By Water Depth:

Shallow Water
Deepwater
Ultra-Deepwater

Floating Production System Market, By Build:

New Build
Conversion

Floating Production System Market, By Region:

North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Floating Production System Market.

Available Customizations:

Global Floating Production System Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Floating Production System Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Type (Floating Production, Storage, and Offloading (FPSO), Tension Leg Platforms (TLP), Spar Platform, Others)
- 5.2.2. By Water Depth (Shallow Water, Deepwater, Ultra-Deepwater)
- 5.2.3. By Build (New Build, Conversion)
- 5.2.4. By Region
- 5.2.5. By Company (2025)
5.3. Market Map

6. North America Floating Production System Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Water Depth
- 6.2.3. By Build
- 6.2.4. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Floating Production System Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Type
    - 6.3.1.2.2. By Water Depth
    - 6.3.1.2.3. By Build
- 6.3.2. Canada Floating Production System Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Type
    - 6.3.2.2.2. By Water Depth
    - 6.3.2.2.3. By Build
- 6.3.3. Mexico Floating Production System Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Type
    - 6.3.3.2.2. By Water Depth
    - 6.3.3.2.3. By Build

7. Europe Floating Production System Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Water Depth
- 7.2.3. By Build
- 7.2.4. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Floating Production System Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Type
    - 7.3.1.2.2. By Water Depth
    - 7.3.1.2.3. By Build
- 7.3.2. France Floating Production System Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Type
    - 7.3.2.2.2. By Water Depth
    - 7.3.2.2.3. By Build
- 7.3.3. United Kingdom Floating Production System Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Type
    - 7.3.3.2.2. By Water Depth
    - 7.3.3.2.3. By Build
- 7.3.4. Italy Floating Production System Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Type
    - 7.3.4.2.2. By Water Depth
    - 7.3.4.2.3. By Build
- 7.3.5. Spain Floating Production System Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Type
    - 7.3.5.2.2. By Water Depth
    - 7.3.5.2.3. By Build

8. Asia Pacific Floating Production System Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Water Depth
- 8.2.3. By Build
- 8.2.4. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Floating Production System Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Type
    - 8.3.1.2.2. By Water Depth
    - 8.3.1.2.3. By Build
- 8.3.2. India Floating Production System Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Type
    - 8.3.2.2.2. By Water Depth
    - 8.3.2.2.3. By Build
- 8.3.3. Japan Floating Production System Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Type
    - 8.3.3.2.2. By Water Depth
    - 8.3.3.2.3. By Build
- 8.3.4. South Korea Floating Production System Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Type
    - 8.3.4.2.2. By Water Depth
    - 8.3.4.2.3. By Build
- 8.3.5. Australia Floating Production System Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Type
    - 8.3.5.2.2. By Water Depth
    - 8.3.5.2.3. By Build

9. Middle East & Africa Floating Production System Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Water Depth
- 9.2.3. By Build
- 9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Floating Production System Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Type
    - 9.3.1.2.2. By Water Depth
    - 9.3.1.2.3. By Build
- 9.3.2. UAE Floating Production System Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Type
    - 9.3.2.2.2. By Water Depth
    - 9.3.2.2.3. By Build
- 9.3.3. South Africa Floating Production System Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Type
    - 9.3.3.2.2. By Water Depth
    - 9.3.3.2.3. By Build

10. South America Floating Production System Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Water Depth
- 10.2.3. By Build
- 10.2.4. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Floating Production System Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Type
    - 10.3.1.2.2. By Water Depth
    - 10.3.1.2.3. By Build
- 10.3.2. Colombia Floating Production System Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Type
    - 10.3.2.2.2. By Water Depth
    - 10.3.2.2.3. By Build
- 10.3.3. Argentina Floating Production System Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Type
    - 10.3.3.2.2. By Water Depth
    - 10.3.3.2.3. By Build

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Floating Production System Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. BW Offshore Limited
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Keppel Offshore and Marine Ltd
15.3. Samsung Heavy Industries Co. Ltd
15.4. SBM Offshore NV
15.5. Bumi Armada Berhad
15.6. Hyundai Heavy Industries Co. Ltd
15.7. Mitsubishi Heavy Industries Ltd
15.8. TechnipFMC PLC
15.9. MODEC Inc.
15.10. Teekay Corporation