The offshore mooring market is estimated to exceed US $ 1,408
The United States occupied more than two-thirds of the North American offshore mooring market. The Asia-Pacific region accounted for the largest share of the global market, while the European region is expected to account for the second largest share due to increasing port investment as well as increasing innovations in offshore mooring technologies.
The offshore mooring market is expected to experience significant growth over the next six years, owing to the increased demand for energy due to extensive underwater exploration and production. Other factors driving the offshore mooring market are the maturity of onshore oil and gas fields, the increase in exploration of offshore fields, the emergence of FPSO technology, the growing importance of new clean electricity. and heavy investments from the Middle East and Latin America to develop infrastructure. However, factors such as high initial CAPEX and harsh environmental conditions of deep water are hampering the growth of the market.
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The report segments the global offshore mooring market on the basis of application, anchorage, mooring type, and geography. By Application, the market is sub-segmented into Floating Production Storage and Unloading Vessels (FPSO), Floating Production Storage and Offloading Vessels (FDPSO), Liquefied Natural Gas Floating Vessels (FLNG), Flatbed tension leg form (TLP), SPAR platforms, semi-submersibles, and others (conductor support systems, fixed platform and compliant towers).
Based on the anchor, the offshore mooring market is divided into drag anchor anchors, suction anchors and vertical load anchors. Based on the mooring type segment, the market is sub-segmented into catenary mooring, straight leg mooring, semi-stretch mooring, extended mooring, single point mooring, and dynamic positioning mooring system. By geography, it is analyzed in North America, Europe, Asia-Pacific and LAMEA.
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The major players operating in the global offshore mooring market have focused on acquiring local players to strengthen their market reach and expand their customer base. The major players described in the report are Viking Sea Tech, Intermoor, Inc., Baltec Systems Pvt. Ltd., Delmar Systems, KTL Offshore Pte Ltd., MODEC, Inc., Mampaey Offshore Industries BV, Mooring Systems Inc., SBM Offshore NV and BW Offshore Ltd.
Key Findings of the Offshore Mooring Market
• The FPSO segment is expected to grow at the fastest rate during the forecast period.
• North America is expected to grow at a CAGR of 5.4% in terms of revenue.
• The United States occupied more than two-thirds of the North American offshore mooring market in 2015.
• The rest of the Asia-Pacific region is expected to grow at the highest CAGR of 5.3%, in terms of revenue.
• The FLNG segment is expected to experience significant growth in the Asia-Pacific region.
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