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.
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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.
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Norway
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Israel
- Rest of MEA
Some Major Players Of This Market -
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.
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.
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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
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