Offshore Mooring Systems Market To Grow at 6.3% CAGR by 2026 | IMARC Group

According to the latest report by IMARC Group “Offshore Mooring Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global¬†offshore mooring systems market¬†exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 6.3% during 2021-2026.

Offshore mooring systems refer to the equipment used for temporary or permanent berthing for ships, floating vessels, and structures, such as dry rocks, bridges, and piers. They comprise mooring anchors, lines, shackles, wires, chains, and connectors. Drag embedment, suction, vertical load, and driven pile are some commonly used anchors in the mooring system. They offer enhanced security for conducting exploration activities and operations in unfavorable climatic conditions. As a result, they are widely used in drillships, floating production storage and offloading (FPSO), tension leg, semi-submersible and spar platforms.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The global offshore mooring systems market is primarily being driven by the risingdemand for energy and clean electricity. Moreover, an increasing number of offshore oil and gas exploratory activities, especially in the developing countries, are favoring the market growth. Offshore mooring systems are widely used for deep-sea operations and managing large vessels for re-fueling and moving cargo. Various technological advancements, such as the development of high-temperature gas hydrate basins for sustainable storage of clean hydrocarbon energy, are also providing a thrust to the market growth. Other factors, including the implementation of favorable government policies and the deployment of advanced mooring systems for commercial wind and hydro-energy farms, are anticipated to positively impact the market growth.

Breakup by Product Type:

  • Spread Mooring
  • Single Point Mooring
  • Dynamic Positioning
  • Tendons and Tension Mooring
  • Others

Breakup by Anchorage:

  • Drag Embedment Anchors
  • Suction Anchors
  • Vertical Load Anchors
  • Driven Pile
  • Others

Breakup by Application:

  • Tension Leg Platforms
  • Semi-Submersible Platforms
  • SPAR Platforms
  • FPSO
  • Drill Ships
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Balltec Ltd.
  • Balmoral Comtec Ltd
  • Bluewater Energy Services B.V. (Aurelia Energy N.V.)
  • BW Offshore Limited
  • Delmar Systems Inc
  • Lamprell plc
  • Mampaey Offshore Industries B.V
  • MODEC Inc.
  • NOV Inc.
  • Offspring International Limited
  • SBM Offshore N.V.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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