offshore mooring systems Market

Devices that helps the anchorage of the floating vessels or ships and platforms across all kind of water depths is known as offshore mooring system. A mooring line or an anchor attach the ship to the sea floor and it is important and critical for subsea production facilities. Wires, synthetic fiber ropes and chains or all the three together are used to make mooring lines. The global offshore mooring system is used in oil rigs, for extraction of oil from the sea and transferring the oil onto ships. An offshore mooring system is also used in oil wells to extract crude oil.

The material type used in a particular offshore mooring system is determined by environmental factors like currents, waves, and wind. The rapid growth in the energy industry and oil & gas will help in the rise of the overall global offshore mooring system market. The increasing energy demand worldwide and increasing focus on clean electricity is expected to actuate the global offshore mooring system market. Also, with the increase in per capita consumption of energy due to the rising population will help to drive the offshore mooring system market. Lack of technical knowledge, high investments, and crude environment conditions under the sea will affect the offshore mooring system market growth, however, with the advancements in the technology, safety measures, and training, the offshore mooring system market is expected to grow at a decent pace.

The offshore mooring system market is segmented on the basis of type into taut leg system, single point mooring, spread mooring, semi-taut leg system, and dynamic positioning mooring. The offshore mooring system market is further bifurcated on the basis of anchorage includes vertical load anchors, suction anchors, and drag embedment anchors. The offshore mooring system market is also divided by the application into SPAR, floating production storage & offloading (FPSO), tension leg, floating liquefied Natural Gas (FLNG) and semi-submersible platforms. On the basis of depth the offshore mooring system market can be segmented by shallow (<1000 m) and deep/ultra-deep (>1000 m). The global offshore mooring system market is also bifurcated on the basis of regions into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Offshore mooring systems consist of anchors, shackles, hooks, risers, connectors, buoys and synthetic ropes. Research organizations and different companies are taking initiatives that contribute to the development of offshore mooring systems for precise operations. The integration of mooring systems with information technology and automation is driving the growth of the market by facilitating better precision of the operations, maximizing safety measures, reducing human efforts and data collection. Development of vessels such as FLNG, production, FPSO, drilling, storage, (FDPSO).and floating has boost the growth in the offshore mooring system market.

Positive growth events for the industry can be seen due to newly explored oil reserves in the South China Sea, Brazil, Arctic region and the North Sea. Many players from Japan, Australia and China are introducing themselves in the market with improved mooring systems solutions. The demand for drilling activities and subsea exploration are increasing with the rise in energy demand. Due to an increase in the investments in deep, shallow and ultra-deepwater research by the new companies, Europe market is growing. Decent growth can be seen in the Asia Pacific market for offshore mooring. Due to the availability of crude oil wells in the Middle East, the market is expected to grow as well. Subsea activity can benefit the growth of the market in South America. The global offshore mooring market is dominated by North America and Europe majorly. Though the key facilities of offshore production are located in South America, Africa, and the Middle East new projects are initiated in the Asia Pacific.

Some of the key players operating in the global offshore mooring system market are Offspring International, Mampaey Offshore Industries B.V., Lamprell Energy Ltd., Advanced Production and Loading, Balltec Limited, HR Services & Equipment Inc., ScanaIndustrier ASA, MODEC Inc., De Haan Mussel Kanaal B.V., Rigzone Mooring Systems, Delmar Systems Inc., Balmoral Group, BW Offshore Ltd, Single Point Mooring Systems, BW Offshore Ltd and Blue Water Energy Services among others.