Mooring Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
- January 2034
- 0 pages
A mooring system consists of an anchor, a mooring line, and connectors. It is used in a ship or floating platform to keep it stationed at all water levels. The ship is connected to the sea-floor using an anchor and a mooring line. The mooring line is generally made up of wire, chain, and synthetic fiber rope, or a combination of all of these. The mooring system relies on the strength of the anchors. The holding capacity of the anchor depends on the properties of the soil and the depth of the dig. The mooring lines passes from the vessel to the anchors on the ocean floor.
Increase in the exploration and production of oil and gas in the offshore fields rather than the onshore across globe, and development in shale gas activities in North America are expected to drive the demand for the mooring systems market in the region. High investments in offshore operation and profitable business conditions in Latin America and Middle East & Africa are propelling the growth of the mooring systems market. Technological advancements in the production and drilling capability of vessels and rigs in deep water and ultra-deep water are estimated to boost the global mooring systems market in the near future.
The global mooring systems market can be segmented into application, anchorage, mooring type, and region. Based on application, the global mooring systems market can be divided into floating production storage and offloading (FPSO), tension-leg platform (TLP), floating LNG (FLNG), and others. FPSO accounted for the key share of the mooring systems market in 2016, whereas, TLP is the dominant among applications and its usage is expected to increase significantly during the forecast period. Similarly, FLNG, after its launch in the market in the near future, is predicted to boost the demand for global mooring systems, primarily in Asia Pacific.
Based on anchorage, the mooring systems market can be segmented into drag embedment anchors (DEAs), suction piles, and vertical loads. DEAs are highly used for mooring system in the Gulf of Mexico. Suction piles are the predominant foundation system and mooring used for the deep-water development projects across the world. They are used in clay, mud soils, and sand. However, it is difficult to use them in gravel due to the flow of water over-ground during installation. Vertical load anchors and drag embedment anchors are essentially similar as they are installed in the same way. The vertical load anchors can withstand both vertical and horizontal mooring forces. They are primarily used in taut leg mooring systems, where the mooring line touches the ocean bed at an angle.
Based on mooring type, the mooring systems market can be classified into catenary, taut leg, semi-taut, tendon, spread, dynamic positioning, and single point mooring. Single point mooring accounted for the major share of the market, in 2016 owing to the rise in application of the FPSO. Single point mooring allows the vessels to weathercock and are capable of operation in adverse offshore conditions. Based on depth, the mooring systems market can be further divided into deep/ultra-deep (>1000 m) and shallow (<1000 m).
Based on region, the mooring systems market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Rise in demand for energy across the globe is expected to boost the production of oil and gas in North America and the Middle East. Exploration and production activities of onshore reserves of oil and gas shifted to the offshore reserves, as the onshore fields reached the stage of maturity. Africa is estimated to offer lucrative opportunities to the mooring systems market on account of the prevalence of liberal regulatory policies in the region. It is also projected to expand at a rapid pace during the forecast period. Asia Pacific is a leading consumer of oil and gas due to the high-level consumption in countries such as China and India.
Key players operating in the global mooring systems market are Mooring System, Inc., Bluewater Holding B.V., Modec Inc., Cargotec Corporation, Timberland Equipment limited, Delmar Systems, Inc., and Mampaey Offshore Industries B.V.
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The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
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