New York, NY, July 23, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Offshore Mooring Systems Market by Application (Floating, Production, Storage & Offloading, Floating Drilling, Production, Storage & Offloading (FDPSO) Vessels, Floating Liquefied Natural Gas, Tension Leg Platform, Semi-Submersibles, SPAR Platforms, and Others), by Anchor Type (Drag Embedment Anchors, Vertical Load Anchors, and Suction Anchor), and by Mooring Type (Catenary, Taut Leg, Single Point, Spread, Dynamic Positioning, and Semi Taut): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global offshore mooring systems market was around 1,190 million in 2018 and is expected to reach around USD 1,500 million by 2025, at CAGR 4.8% between 2019 and 2025.
Offshore mooring systems help ships and floating structures to dock temporarily or permanently to keep the vessel immobilized. A mooring system maintains the stability of any floating structure and is designed according to floating vessel size, shape, and various environmental factors like wind, wave, etc. The systems have been widely used in subsea oil and gas exploration, underground drilling, and renewable energy applications. The global offshore mooring systems market is projected to witness substantial growth over the next few years, owing to the rising demand for sea exploration activities. Moreover, the increasing oil and gas exploration demand is likely to fuel the consumption of offshore mooring systems, thereby, propelling market growth. Additionally, the upcoming opportunities in subsea level developments and clean energy are also expected to spur the offshore mooring systems market in the future.
Browse through 54 Tables & 34 Figures spread over 120 Pages and in-depth TOC on “Global Offshore Mooring Systems Market Size, Type, Share, Industry Applications, Analysis and Forecast, 2018–2025”.
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The global offshore mooring systems market is classified on the basis of application, anchor type, and mooring type. The application segment of the offshore mooring systems market is divided into floating liquefied natural gas (FLNG), floating, production, storage and offloading (FPSO), floating drilling, production, storage and offloading (FDPSO) vessels, semi-submersibles, tension leg platform (TLP), SPAR platforms, and others. The FPSO segment has recorded major growth in recent years. Due to the increasing demand for oil and gas exploration and production, the demand for FLNG, TLP, and semi-submersible mooring systems are likely to grow further in the years ahead. Based on mooring type, the offshore mooring systems market includes catenary, taut leg, single point, spread, dynamic positioning, and semi taut. Spread mooring held the largest market share in 2018 and will be dominating the market in the upcoming years. The anchor type segment of the offshore mooring systems market is divided into drag embedment anchors, suction anchor, and vertical load anchors.
The increasing investments in ports and offshore mooring technologies are driving the Asia Pacific offshore mooring market. The region accounted for the largest share in the global market in 2018, due to the rising regional demand for oil and gas by the ever-increasing population and growing sea mining in Australia. China and India have experienced major growth in offshore mooring systems market over the last few years.
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North America is the second largest market for offshore mooring systems globally and is expected to grow notably over the forecast time period. The rising discovery of natural resources and subsea exploration and drilling activities and growing renewable energy using offshore wind turbines demand are likely to boost the offshore mooring systems applications.
The offshore mooring systems market in Europe is predicted to grow substantially in the future, owing to the growing offshore wind power awareness, rising development in ports, and increasing sea transportation in the region.
Browse the full “Offshore Mooring Systems Market by Application (Floating, Production, Storage & Offloading, Floating Drilling, Production, Storage & Offloading (FDPSO) Vessels, Floating Liquefied Natural Gas, Tension Leg Platform, Semi-Submersibles, SPAR Platforms, and Others), by Anchor Type (Drag Embedment Anchors, Vertical Load Anchors, and Suction Anchor), and by Mooring Type (Catenary, Taut Leg, Single Point, Spread, Dynamic Positioning, and Semi Taut): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/offshore-mooring-systems-market
The Latin American offshore mooring systems market is predicted to grow significantly in the next few years, owing to the newly discovered oil reserves. Brazil will lead the offshore mooring systems market, due to the surging demand for oil exploration and the increasing number of subsea activities like underground drilling, and seafloor mineral mining.
The Middle East and Africa is among the world’s top offshore oil and gas drilling sites. The number of upcoming offshore oil and gas drilling projects will offer additional growth opportunities for the region’s offshore mooring systems market. However, the rising tensions between neighboring countries in the Middle East may slow down the offshore exploration and drilling activities.
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Some major players of the global offshore mooring systems market are Mampaey Offshore Industries, KTL Offshore, Viking Sea Tech, Delmar Systems, Intermoor, Baltec Systems, MODEC, BW Offshore, SBM Offshore, and Mooring Systems.
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The report segments the global offshore mooring systems market into:
Global Offshore Mooring Systems Market: Application Analysis
- Floating, Production, Storage, and Offloading (FPSO)
- Floating Drilling, Production, Storage, and Offloading (FDPSO) Vessels
- Floating Liquefied Natural Gas (FLNG)
- Tension Leg Platform (TLP)
- Semi-Submersibles
- SPAR Platforms
- Others
- Conductor Support Systems,
- Fixed Platform
- Compliant Towers
Global Offshore Mooring Systems Market: Anchor Type Analysis
- Drag Embedment Anchors (DEA)
- Vertical Load Anchors (VLA)
- Suction Anchor
Global Offshore Mooring Systems Market: Mooring Type Analysis
- Catenary Mooring
- Taut Leg Mooring
- Single Point Mooring
- Spread Mooring
- Dynamic Positioning
- Semi Taut Mooring
Global Offshore Mooring Systems Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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