The global offshore mooring systems market size is expected to reach USD 2.66 Billion by 2028 and register a CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data. Rising demand for energy globally and maturity of a number of onshore gas and oilfields has resulted in increased offshore field exploration activities, which are major factors driving market revenue growth. Rapidly increasing global population and rising demand for energy are major factors expected to continue to drive market growth over the forecast period.
Mooring systems are composed of mooring lines, anchors, wires, and chains and provide anchorage to ships, floating vessels, and platforms over water. Rapid depletion of onshore oil and gas reserves has result in increasing investment in FLNG, FPSO, and SPAR among others for expanding offshore exploration activities. This is expected to fuel revenue growth of market over the forecast period. Mooring systems are primarily dependent on strength of anchors. Mooring lines or anchors attach the ship or floating structure to sea floor and is imperative in subsea production facilities. Increasing investment in Floating Liquefied Natural Gas (FLNG), Floating Production Storage Offloading (FPSO), and Single Point Anchor Reservoir (SPAR) among others, for expanding offshore exploration activities has been increasing significantly due to rapid depletion of onshore oil and gas reserves. Increasing number of mature onshore oil and gas fields have also been boosting offshore exploration and production, and this is expected to fuel revenue growth of the market over the forecast period.
However, lack of technical expertise and scarcity of skilled labor are key factors expected to restrain market growth to a certain extent over the forecast period. High initial investments to produce new mooring systems and for exploration and production activities is also expected to hamper market growth to a significant extent going ahead.
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Some Key Highlights From the Report:
- Spread mooring type segment is expected to register significant growth rate over the forecast period due to its use in any water depth, on vessels of different sizes, and in applications that necessitate high service life and quality. Growth can also be attributed to its increasing use in unidirectional environment on floating offshore platforms that can endure severe environmental factors.
- FPSO segment is expected to account for largest revenue share in the global market over the forecast period. Growth can be attributed to several advantages of FPSOs such as storage, quick offloading, and high cost-efficiency as compared to other permanent platforms.
- Vertical load anchors segment revenue is expected to expand considerably over the forecast period owing to their increased capability to withstand horizontal and vertical mooring forces. This characteristic is similar to DEA, but vertical load anchors penetrate deeper. These anchors are also used on most drillings rigs offshore and this is expected to drive segment growth over the forecast period.
- Asia Pacific is expected to account for nearly 30% revenue share in the global market over the forecast period, attributable to increasing offshore exploration and production activities in South China Sea and rising demand for FPSOs from countries such as Australia, Indonesia, and China.
- Major companies operating in the market include Offspring International, Mampaey Offshore Industries B.V., Single Point Mooring Systems, Rigzone Mooring Systems, ScanaIndustrier ASA, Delmar Systems, Inc., Sofec, Moorsure Mooring Systems Solutions Pty Ltd, and Blue Water Energy, among others.
- In March 2021, Jebb Smith Ltd. formed Oasis Marine Power as a subsidiary to build on company’s expertise in marine mooring systems. Oasis Marine Power is expected to launch Oasis Power Buoy, which is a mooring buoy with electric power supply to be installed at offshore wind farms.
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For the purpose of this report, Reports and Data has segmented the global offshore mooring systems market based on type, application, anchorage, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Spread
- SPM
- Dynamic Positioning
- Tendons
Application Outlook (Revenue, USD Billion; 2018-2028)
- TLP
- FPSO
- Drill Ships
- Semi-submersible
- SPAR
Anchorage Outlook (Revenue, USD Billion; 2018-2028)
- Drag Embedment Anchors
- Suction Anchors
- Vertical Load Anchors
- Others
The report emphasizes the following key questions:
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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Abstract: Offshore Mooring Systems report focuses on volume and value at global level, regional level and company level.
From a global perspective, this report represents overall Offshore Mooring Systems market size by analyzing historical data and future prospect.
Regionally, this report focuses on several key regions: North America, Europe, China and Japan.Offshore Mooring Systems market is valued at million US$ in 2018 is expected to reach million US$ by the end of 2025, growing at a CAGR of during 2019-2025.At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/31160/global-offshore-mooring-systems-2019-836 The following manufacturers Of Offshore Mooring Systems are covered: SBM OffshoreBW OffshoreDelmar SystemsMampaey Offshore IndustriesModecGrup Servicii PetroliereNational Oilwell VarcoTrellborgBluewater HoldingCargotec CorporationTimberland EquipmentUsha Martin LimitedVolkerwesselsGet the Complete Report @ https://www.24chemicalresearch.com/reports/31160/global-offshore-mooring-systems-2019-836Offshore Mooring Systems Segment by Regions North AmericaEuropeChinaJapanOffshore Mooring Systems Segment by Type SPM Mooring SystemsSMS Mooring SystemsTM Mooring SystemsDP Mooring SystemsOffshore Mooring Systems Segment by Application Floating Production Storage & Offloading (FPSO)Tension Leg Platform (TLP)SPARSemi-SubmersibleFloating Liquefied Natural Gas (FLNG) Get more information from Table of Content@ https://www.24chemicalresearch.com/reports/31160/global-offshore-mooring-systems-2019-836#tocCONTACT US:North Main Road Koregaon Park, Pune, India - 411001.International: +1(646)-781-7170Asia: +91 8329744015Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/24chemicalresearch/
The global offshore mooring systems market size is expected to reach USD 2.66 Billion by 2028 and register a CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data.
Rising demand for energy globally and maturity of a number of onshore gas and oilfields has resulted in increased offshore field exploration activities, which are major factors driving market revenue growth.
Rapidly increasing global population and rising demand for energy are major factors expected to continue to drive market growth over the forecast period.Get Free Sample of this report : https://www.reportsanddata.com/sample-enquiry-form/4090Mooring systems are composed of mooring lines, anchors, wires, and chains and provide anchorage to ships, floating vessels, and platforms over water.
Rapid depletion of onshore oil and gas reserves has result in increasing investment in FLNG, FPSO, and SPAR among others for expanding offshore exploration activities.
Some Key Highlights From the Report:Spread mooring type segment is expected to register significant growth rate over the forecast period due to its use in any water depth, on vessels of different sizes, and in applications that necessitate high service life and quality.
Growth can also be attributed to its increasing use in unidirectional environment on floating offshore platforms that can endure severe environmental factors.Major companies operating in the market include Offspring International, Mampaey Offshore Industries B.V., Single Point Mooring Systems, Rigzone Mooring Systems, ScanaIndustrier ASA, Delmar Systems, Inc., Sofec, Moorsure Mooring Systems Solutions Pty Ltd, and Blue Water Energy, among others.In March 2021, Jebb Smith Ltd. formed Oasis Marine Power as a subsidiary to build on company’s expertise in marine mooring systems.
Offshore Mooring Systems Market Research Report, By Type (Spread, SPM, Dynamic Positioning, Tendons), Anchorage (DEA, Suction Anchors, Vertical Load Anchors), Application (TLP, SPAR, FPSO, Drill Ships, and Others), and Region — Global Forecast till 2023Market Synopsis: Global Offshore Mooring Systems MarketMooring Systems support the anchorage of the ships or floating vessels and platforms across all sorts of water depths.
The market of offshore mooring systems has seen a huge growth from the last few years.
The factors which affect the market of offshore mooring systems are growth in oil and gas production and growing demand for energy.
Along with this, purchasing power of consumers are also increasing, which leads the high demand of transportation fuels.
However, lack of technological knowledge among the players may be a major challenge for the growth of the market.Get Free Report Sample : https://www.marketresearchfuture.com/sample_request/7505 Global Offshore Mooring Systems Market: Regional AnalysisThe global offshore mooring systems market is segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the world (RoW).
Asia-pacific held the largest share in the offshore mooring systems market, followed by North America and Europe.
