The Global Mooring Systems Market according to this research, is expected to grow, hitting USD 1.89 billion by 2020.
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Mooring Systems Market by Application (FPSO, TLP, SPAR, Semi-submersible and FLNG), by Anchorage (DEA, VLA, and Suction), by Mooring type (Spread, SPM, DP, and Tendon), by Depth (Shallow & Deep/Ultra-deep), & by Region - Global Trends & Forecast to 2020. Increasing focus in deep & ultra-deep-water exploration and production activities to drive mooring systems market at a CAGR of 3.7%
The mooring systems market is estimated to be USD 1.58 billion in 2015 and is expected reach a market size of USD 1.89 billion by 2020. The market is projected to grow at a CAGR of 3.7% from 2015 to 2020.
Decrease in oil & gas production in shallow water basins, untapped potential for large hydrocarbon reserves in deep-water, improvement in technology, and economic viability of projects are major drivers for rising investments in deepwater drilling.
On-going discoveries of deepwater hydrocarbon reserves create several opportunities for the oil & gas producers as well as service providers along the value chain, are the major driving factors for the market.
TLP type is expected to witness highest growth in the mooring systems market
The Tension Leg Platforms (TLP) segment expected to be the third-largest in the mooring systems market in 2015 and is expected to be the highest growing application during the forecast period. There is a continuous increase in TLP installations and capex in the past few years supporting the growth of the market.
The TLPs are best suited for the harsh ocean conditions and so are mostly installed in the GOM region giving boost to the application.
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Asia-Pacific to lead the global mooring systems market in terms of growth rate
In regions, Asia-Pacific has taken the lead with the fastest growth rate among all other regions followed by the Middle East & Africa. Rapid technological developments are improving the drilling and production capability of rigs and vessels which aids exploration and production activities in the deep-water and ultra-deep-water areas across the globe.
This has given a boost to the mooring systems market.
The data have been collected through several primary and secondary sources. A comprehensive discussion guide was sent to several experts in the field of mooring systems and offshore exploration & production services experts for the verification of the market findings.
- By Company type – Tier 1 - 45%, Tier 2 - 30% and Tier 3 - 25%.
- By Designation – C level – 20%, Managerial level – 25%, Others – 55%
- By Region – North America - 35%, Europe – 25%, APAC – 20%, Middle East – 15%, RoW – 5%
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SBM Offshore (Netherlands), BW Offshore Ltd. (Norway), Modec Inc.(Japan), Bluewater Holding B.V.
(Netherlands), Cargotec Corporation (Finland), Delmar Systems, Inc. (U.S.), and Timberland Equipment limited (Canada), Usha Martin Ltd.
(India), Volkerwessels (Netherlands), Delmar Systems Inc. (U.S.), Mampaey Offshore Industries (Netherlands), Grup Servicii Petroliere S.A.
(Luxembourg), and others.
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends, and Porters analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, usage patterns, emerging- and high-growth segments of the mooring systems market, high-growth countries and drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market, share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
- Product Analysis and development: Detailed insights on upcoming technologies, research and development activities, and new product launches in the mooring systems market. Usage pattern/penetration rate (in-depth trend analysis) of products (segment wise) and purchasing data
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the mooring systems market across geographies, exploit new distribution channels, and new clientele base
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments decisions in the mooring systems market. Detailed description regarding the related and unrelated diversification pertaining to this market
- Competitive Assessment: In-depth assessment of market shares, company share analysis of the key players forecasted till 2020. Develop business strategies and manufacturing capabilities of leading players enhance the bottom line of the companies in the mooring systems market.
- Product/ Brand Perception Analysis: Comprehensive study of customers perception and behavior through our inbuilt social connect tool (digital marketing language) checking the virility and tonality of blogs.