Global Offshore Mooring Systems Market is valued at approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Offshore mooring is the system that offers a temporary or permanent berth framework for ships or floating platforms in offshore fields. Mooring systems are used in floating structures such as dry docks, bridges, piers, and oil drilling and production facilities. Mooring systems enable the movement of platforms, floating objects, and ships over water and offer much-needed anchorage. The mooring system’s strength is decided by the anchors. Anchors, steel or synthetic materials, shackles, mooring lines, cables, and chains comprise the mooring system. The components and equipment to be used in a certain mooring system are determined by environmental factors and the type of vessel, such as drifting forces/wave swell, wind, and current forces. The key factors driving the market growth are rising expansion of oil and gas exploration and production from the offshore fields and growing technological advancements in the field of mooring systems.
The rising oil and gas production is anticipated to influence the rapid expansion of oil and gas exploration and production from offshore fields that are anticipated to support the market growth. According to the IOGP’s new Global Production Report, oil consumption was 30% higher in 2018 than it was in 2000, while natural gas demand rose by 60% during the same period. Also, according to the International Energy Agency’s (IEA) publication “Oil 2020- Analysis,” global oil production capacity is expected to exceed 5.9 million barrels per day by 2025. Additionally, the discoveries of oil & gas fields in the African and Asia-Pacific regions are anticipated to create a lucrative opportunity for the market during the forecast period. However, the fluctuation in oil prices and high costs associated with deep water projects stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Offshore Mooring Systems Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the dominating region across the world in terms of market share, owing to the increasing investment towards oil & gas exploration and production and reducing dependence on imports is projected to fuel the market’s growth in the region. Whereas, Europe is also anticipated to exhibit the highest growth rate over the forecast period, owing to factors such as increasing demand in industries such as renewable energy, subsea exploration, and petroleum which would create lucrative growth prospects for the Offshore Mooring Systems market across Europe region.
Major market players included in this report are:
SBM Offshore NV
BW Offshore Ltd
FMC Technologies Inc
Trelleborg Marine Systems
Mooring Systems Inc
Mampaey Offshore Industries BV
Timberland Equipment Ltd
Viking Sea Tech
Recent Developments in the Market:
Ø In Jan. 2019, TechnipFMC granted Lankhorst Offshore an agreement to provide mooring systems for Energean Power FPSO that would be working in Karish and Tanin Gas Fields.
Ø In Nov. 2021, CNOOC Energy Technology & Services and Blue Water Energy Services have an agreement in place. This arrangement was made in order to engineer, purchase, and build turret mooring systems, including a brand-new mooring system for an FPSO that would be located off the coast of China. As a result, the company’s presence in the Asia-Pacific area has expanded.
Global Offshore Mooring Systems Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product Type, Anchorage, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s 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 & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Single Point Mooring (SPM)
Tendons & Tension Mooring
Drag Embedment Anchors
Vertical Load Anchors
Tension Leg Platforms
Rest of the World