Offshore mooring is an assembly made-up of connectors and anchors which are used for station keeping and securing to the seafloor. Mooring lines are made of wires, chains and synthetic fiber ropes or with a combination of all the three components.
Global Offshore Mooring Market size, published by Variant Market Research, forecast that the global market is expected to reach $1,766 Million by 2024 from $1,049 Million in 2016, growing at a CAGR of 6.7% from 2016 to 2024.
Increasing offshore field exploration activities drives the global offshore mooring market growth
The global offshore mooring market trends are increasing offshore field exploration activities, rise in subsea installations, maturity of onshore oil & gas fields along with increase in per capita energy consumption and increasing investments in Middle East Region. Although, high initial cost, unpredictable deep-sea conditions, and increasing complexity of offshore mooring system are the major drawback for the market growth.
Moreover, advancement in technology and rising implication of clean electricity are expected to provide several growth opportunities in offshore mooring market forecast timeframe.
The global offshore mooring market has been classified into type, anchors, application, and geography. Type segment comprises taut leg, semi-taut, spread, single point, dynamic positioning.
On the basis of anchors, the market comprises of Suction Anchors, Drag Embedment Anchors, and Vertical Load Anchors. The classification by application includes Storage & Offloading (FPSO) vessels, Floating Production, Floating Drilling, Production, Storage & Offloading (FDPSO) vessels, Tension Leg Platform (TLP), Floating Liquefied Natural Gas (FLNG), Semi-Submersibles, and SPAR platforms.
By geographical analysis, North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the key regions of global offshore mooring market.
Spread dominated the Type segment with major share
Spread held for the highest market share in 2016, owning to its advantage to maintain the drilling vessel in certain horizontal limits of the centerline well so that drilling operations can be carried out successfully.
Suction Anchors dominated the Anchors segment with highest market share
In 2016, Suction anchors occupied the largest share of the market, driven by its usage in ultra-deep-water for systems requiring taut or semi-taut mooring systems.
Asia-Pacific held for the largest market share in 2016
Asia-Pacific is the largest revenue generating region in 2016, and is expected to remain the highest over the forecast period 2016 – 2024. Furthermore, India offshore mooring market is anticipated to growth at a significant rate over the forecast period.
Major market players in the global offshore mooring market are Mampaey Offshore Industries B.V., Viking Sea Tech, Rigzone Mooring Systems, BW Offshore Ltd., Timberland Equipment Ltd., Offspring International, National Oilwell Varco, Inc., Mooring Systems Inc., Delmar Systems, Inc., SBM Offshore N.V., Volker Wessels and Lamprell Energy Ltd. among others.
Scope of Global Offshore Mooring Market
Mooring Type Segments
- Taut Leg
- Single Point
- Dynamic Positioning
- Floating Production, Storage & Offloading (FPSO) Vessels
- Floating Drilling, Production,
- Storage & Offloading (FDPSO) Vessels
- Floating Liquefied Natural Gas (FLNG)
- Tension Leg Platform (TLP)
- SPAR Platforms
Anchorage Type Segments
- Drag Embedment Anchors
- Suction Anchors
- Vertical Load Anchors
- North America
- South Korea
- South America
- Middle East
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