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In a recent published report, Kenneth Research has updated the market report for Floating Production System Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Floating Production System Market products.
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A report on Floating Production System Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Floating Production System Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
Kenneth Research has released a report on Floating Production System Market that studies the segments, trends, opportunities, growth drivers and restraints for the market throughout the forecast period, i.e. 2021 2025. The report further contains key matrices and industrial insights that helps decision makers to understand better about the market, including both the current scenario as well as the consequences in the coming years.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies and stakeholders) and secondary research, the report aims to present the analysis of Global Floating Production System Market. The report has analysed the Floating Production System Market by Platform Type (Tension Leg Platform, Semi-submersible Platform, SPAR, Floating Production Storage and Offloading [FPSO], Drill Ships and Others) and By Application (Shallow water, Deep water, Ultra-deep water). The Global Floating Production System Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA) and By Country (United States, Canada, Mexico, Brazil, Rest Of Americas, United Kingdom, Norway, Rest of Europe, China, India, Rest of Asia Pacific, Saudi Arabia, Iran, Rest Of MEA) for the historical period of 2014-2018 and the forecast period of 2019-2024.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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According to a research report published by Azoth Analytics in August 2019, Global Floating Production System Market was valued at USD 13.7 Billion in the year 2018. Key factors for high demand of Floating Production System includes increase in deep water drilling activities and rising number of offshore projects along with growing economy of under-developed nations as well as rise in demand of global energy, product performance and durability.
Floating Production System is playing a significant role as after several years of cutbacks, oil companies are poised to develop new offshore fields. According to recent research study, spending on offshore oilfield services will rise by 6% in 2019. Also, most of the oil and gas demand comes from transportation sector where oil continues to face the weakest competition from alternative fuels. Increased digitalization, standardization and use of remote or autonomous operations will continue to bring cost savings to the industry.
Global Floating Production System market has gained importance as increasing consumption requirement influences the expansion in the oil and gas reserves ultimately affecting floating production system market. These markets are influenced by many factors including fluctuating crude oil and natural gas prices, changing consumer preferences and the overall strength of the economy.
Scope of the Report
Global Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Platform Type – Tension Leg Platform, Semi-submersible Platform, SPAR, Floating Production Storage and Offloading (FPSO), Drill Ships, Others
• Analysis by Application – Shallow water, Deep water, Ultra-deep water
• Competitive Landscape – Market Share, Benchmarking
Regional Market – Americas, Europe, Asia Pacific, Middle East & Africa (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Platform Type – Tension Leg Platform, Semi-submersible Platform, SPAR, Floating Production Storage and Offloading (FPSO), Drill Ships, Others
• Analysis by Application – Shallow water, Deep water, Ultra-deep water
• Prominent Companies
Country Analysis – Floating Production Market – United States, Canada, Mexico, Brazil, United Kingdom, Norway, China, India, Saudi Arabia, Iran (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Platform Type – Tension Leg Platform, Semi-submersible Platform, SPAR, Floating Production Storage and Offloading (FPSO), Drill Ships, Others
• Analysis by Application – Shallow water, Deep water, Ultra-deep water
• Prominent Companies
Other Report Highlights
Market Share of Leading Companies
Market Attractiveness Charts
Market Dynamics – Trends, Drivers, Challenges
Company Analysis – Malaysia Marine & Heavy Engineering, Bumi Armada Berhad, Keppel Offshore & Marine, Daewoo Shipbuilding & Marine Engineering Co. Ltd., TechnipFMC, SBM Offshore, WorleyParsons, Aker Solutions, Teekay Offshore Partners L.P., Samsung Heavy Industries Co. Ltd.
Customization of the Report
The report could be customized according to the client's specific research requirements. No additional cost will be required to pay for limited additional research.
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players .
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Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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