The global offshore mooring systems market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.61% during 2023-2028.
Offshore mooring systems comprise mooring lines, anchors, and connectors for berthing ships in floating structures, including piers, bridges, dry docks, and oil drilling and production facilities. At present, several manufacturers are focusing on developing new offshore mooring systems for safe and secure oil and gas exploration and production in unfavorable environmental conditions. This, along with the rapid expansion of the oil and gas industry, is driving the demand for offshore mooring systems around the world to support oil exploration in deeper water.
Offshore Mooring Systems Market Trends:
The escalating demand for energy across the globe and a significant decrease in the number of shallow and onshore gas reserves have resulted in the shifting oil and gas extraction activities to deep-water areas. This represents one of the primary factors bolstering the growth of the offshore mooring systems market. Moreover, the development of advanced features, such as high-temperature gas hydrate basins, to enable precise operations while maximizing safety measures and reducing human efforts is catalyzing the demand for offshore mooring systems. Apart from this, several leading manufacturers are introducing a new generation of deep-water mooring and anchoring vessels and systems. These systems provide solutions to different issues arising on account of seabed conditions, vessel anchoring capabilities, and higher weights and tensions. This, in confluence with the rising adoption of renewable energy sources due to growing environmental concerns and the implementation of stringent regulation by government authorities of numerous countries, is anticipated to fuel the market growth in the forthcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global offshore mooring systems market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, anchorage and application.
Breakup by Product Type:
Single Point Mooring
Tendons and Tension Mooring
Breakup by Anchorage:
Drag Embedment Anchors
Vertical Load Anchors
Breakup by Application:
Tension Leg Platforms
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Balltec Ltd., Balmoral Comtec Ltd, Bluewater Energy Services B.V. (Aurelia Energy N.V.), BW Offshore Limited, Delmar Systems Inc, Lamprell plc, Mampaey Offshore Industries B.V, MODEC Inc., NOV Inc., Offspring International Limited and SBM Offshore N.V.
Base Year of the Analysis
Product Type, Anchorage, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Balltec Ltd., Balmoral Comtec Ltd, Bluewater Energy Services B.V. (Aurelia Energy N.V.), BW Offshore Limited, Delmar Systems Inc, Lamprell plc, Mampaey Offshore Industries B.V, MODEC Inc., NOV Inc., Offspring International Limited and SBM Offshore N.V.
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Key Questions Answered in This Report
The global offshore mooring systems market was valued at US$ 1.6 Billion in 2022.
We expect the global offshore mooring systems market to exhibit a CAGR of 4.61% during 2023-2028.
The expanding oil and gas industry, along with the rising demand for offshore mooring systems, as they aid in providing oil exploration in deeper water, is primarily driving the global offshore mooring systems market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for offshore mooring systems.
Based on the product type, the global offshore mooring systems market can be segmented into spread mooring, single point mooring, dynamic positioning, tendons and tension mooring, and others. Currently, spread mooring holds the majority of the total market share.
Based on the anchorage, the global offshore mooring systems market has been divided into drag embedment anchors, suction anchors, vertical load anchors, driven pile, and others. Among these, vertical load anchors currently exhibit a clear dominance in the market.
Based on the application, the global offshore mooring systems market can be categorized into tension leg platforms, semi-submersible platforms, SPAR platforms, FPSO, drill ships, and others. Currently, FPSO accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global offshore mooring systems market include Balltec Ltd., Balmoral Comtec Ltd, Bluewater Energy Services B.V. (Aurelia Energy N.V.), BW Offshore Limited, Delmar Systems Inc, Lamprell plc, Mampaey Offshore Industries B.V, MODEC Inc., NOV Inc., Offspring International Limited, and SBM Offshore N.V.
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