ALBANY, N.Y.--(BUSINESS WIRE)--The floating production systems market, estimated to be worth US$12,616.0 million in 2012, is poised to expand substantially to reach US$38,752.7 million by 2019, a latest report by Transparency Market Research states. The TMR report is titled "Floating Production Systems Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019." The report focuses on forecasting the global market for floating production systems by value.
TMR analysts conducted detailed analyses of key product segments within the floating production systems market; these are: floating production storage and offloading (FPSO), Tension Leg platform (TLP), floating storage and offloading (FSO), and Single Point Anchoring Reservoir (SPAR). The report finds that FPSO ranked as the largest product segment, constituting a 63.8% share of the total market as of 2012. This is because FPSO is extensively being used by companies such as ENI, Petrobras, and Royal Dutch Shell Plc for extracting crude oil from offshore oil fields. The next most prominent segment in 2012 was that of FSO, with a moderate share. These two segments were followed by others such as SPAR and TLP.
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The report also observes that the RoW region emerged as the most dominant in the global floating production systems market in 2012, in revenue terms. The demand for FPS is highest in RoW, and takes a lead over other major regions such as North America and Asia Pacific. RoW has attained a leading position, by demand, due the high consumption by countries in South America and Africa. In the future too, the report forecasts that the RoW region will demonstrate the highest growth rate. The FPS market saw North America and the Asia Pacific region accounting for the largest FPS market shares in 2012.
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