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Global Offshore Mooring Market Is Boosted by Advancement in Technology and Rising Implication of Clean Electricity

Global Offshore Mooring Market size, published by Variant Market Research, forecast that the global market is expected to reach $1,766 Million by 2024 from $1,049 Million in 2016, growing at a CAGR of 6.7% from 2016 to 2024.

Increasing offshore field exploration activities drives the global offshore mooring market growth

The global offshore mooring market trends are increasing offshore field exploration activities, rise in subsea installations, maturity of onshore oil & gas fields along with increase in per capita energy consumption and increasing investments in Middle East Region. Although, high initial cost, unpredictable deep-sea conditions, and increasing complexity of offshore mooring system are the major drawback for the market growth. Moreover, advancement in technology and rising implication of clean electricity are expected to provide several growth opportunities in offshore mooring market forecast time frame.

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Market Segmentation

The global offshore mooring market has been classified into type, anchors, application, and geography. Type segment comprises taut leg, semi-taut, spread, single point, dynamic positioning. On the basis of anchors, the market comprises of Suction Anchors, Drag Embedment Anchors, and Vertical Load Anchors. The classification by application includes Storage & Offloading (FPSO) vessels, Floating Production, Floating Drilling, Production, Storage & Offloading (FDPSO) vessels, Tension Leg Platform (TLP), Floating Liquefied Natural Gas (FLNG), Semi-Submersibles, and SPAR platforms. By geographical analysis, North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the key regions of global offshore mooring market.

Spread dominated the Type segment with major share

Spread held for the highest market share in 2016, owning to its advantage to maintain the drilling vessel in certain horizontal limits of the centerline well so that drilling operations can be carried out successfully.

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Suction Anchors dominated the Anchors segment with highest market share
In 2016, Suction anchors occupied the largest share of the market, driven by its usage in ultra-deep-water for systems requiring taut or semi-taut mooring systems.

Asia-Pacific held for the largest market share in 2016

Asia-Pacific is the largest revenue generating region in 2016, and is expected to remain the highest over the forecast period 2016 – 2024. Furthermore, India offshore mooring market is anticipated to growth at a significant rate over the forecast period.

Competitive Landscape

Major market players in the global offshore mooring market are Mampaey Offshore Industries B.V., Viking Sea Tech, Rigzone Mooring Systems, BW Offshore Ltd., Timberland Equipment Ltd., Offspring International, National Oilwell Varco, Inc., Mooring Systems Inc., Delmar Systems, Inc., SBM Offshore N.V., Volker Wessels and Lamprell Energy Ltd. among others.

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Scope of Global Offshore Mooring Market

Mooring Type Segments

• Catenary
• Taut Leg
• Semi-Taut
• Spread
• Single Point
• Dynamic Positioning

Application Segments

• Floating Production, Storage & Offloading (FPSO) Vessels
• Floating Drilling, Production,
• Storage & Offloading (FDPSO) Vessels
• Floating Liquefied Natural Gas (FLNG)
• Tension Leg Platform (TLP)
• Semi-Submersibles
• SPAR Platforms

Anchorage Type Segments

• Drag Embedment Anchors
• Suction Anchors
• Vertical Load Anchors

Geography Segments

• North America
o US
o Canada
o Mexico

• Europe
o U.K.
o Italy
o France
o Germany
o Others

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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News Release: Global Offshore Mooring Market Is Boosted by Advancement in Technology and Rising Implication of Clean Electricity
Submitted on: November 08, 2017 09:43:05 AM
Submitted by: Bhavana Patel
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