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Offshore Mooring Systems Market Growth Projections, Industry Analysis and Forecast Report by 2025

Author : Rahul Sankrityayan | Published Date : 2019-09-11 

Global Market Insights adds global Offshore Mooring Systems Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

The offshore mooring system market is expected to show a decent growth rate over the forecast timeframe due to some rise in offshore oil & gas exploration and production activities. Movement of oil prices in positive direction after 2014 has encouraged investment in offshore sector of oil & gas industry, which in turn is affecting product market in positive manner. The offshore mooring system are used for providing permanent or temporary berthing to a wide range of structures such as oil & gas production/drilling units, floating dry docks, tankers (during oil transfer operations), etc. Commercialization of various floating solar and wind farms have given a further to the demand for mooring systems for installation, operation and maintenance.

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Offshore mooring systems majorly relies on the strength of anchors. The different types of anchors used in such systems are drag embedment, vertical load, suction anchors and others. The other anchoring systems include driven pile anchors, etc. Among these, drag embedded anchors are majorly used for       Mobile Offshore Drilling Unit (MODU), Floating Production Storage and Offloading (FPSO) platforms, semi-submersibles platforms which are majorly located in shallow and deep waters. For ultra-deep-water applications suction anchors are used with semi-taut and taut mooring systems.

Advent of shale oil & gas in North America and growth of NGLs (Natural Gas Liquids) along with decreasing profitability of upstream companies due to low crude oil prices in past years have resulted in reduction of offshore activities. These are the factors that will hinder the growth of product market in near future.

There are different types of offshore mooring systems that are widely used across the globe among which major ones are catenary, spread mooring, taut leg, semi-taut, dynamic positioning and single point mooring. The catenary mooring systems are majorly used for shallow waters, while semi- taut are used for deep water applications. Besides these, spread mooring systems are most common as they can be used with any size of vessel, for all water depths and has a long service life. Single point mooring systems find their applications majorly for Floating Liquified Natural Gas (FLNG) ships, FPSO platforms and other service vehicles thus making it of the most versatile mooring system for oil & gas industry.

Various applications of offshore mooring systems are for MODUs, semi-submersible, FPSO, SPAR, tension lag platforms, and others. The others segment includes FLNG and FDPSO vessels. Volatility in crude oil prices have limited the investment in development of new vessels that can be used for offshore drilling, storage and other operations, which is affecting the market negatively.

Some of the prominent players in the offshore mooring system market are SBM Offshore, MODEC, Delmar Systems, Balltech Engineered Solutions, Lamprell, FMC Technologies, Mampaey Offshore Industries, Blue Water Energy, Offspring International, BW Offshore, etc.

 About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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