Offshore Mooring Systems Market to be Dominated by Catenary Mooring Systems through 2027

Rapid growth of energy industry and increasing focus on clean electricity are driving the growth of global offshore mooring systems market in the forecast period, 2023-2027.

According to TechSci Research report, “Offshore Mooring Systems Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027”, the global offshore mooring systems market is anticipated to grow at a robust CAGR in the forecast period, 2023-2027. An offshore mooring system comprises mainly of three parts: an anchor system, a specific mooring layout, and a mooring line. The mooring system layout depends on several conditions, such as the purpose of the offshore unit and local environmental conditions. The most important mooring layout types are the catenary mooring system, taut leg mooring system, ‘tension leg’ mooring system, single point mooring system, spread mooring systems, and dynamic positioning.

Offshore mooring systems address the need for production facilities and floating production storage & offloading (FPSOs) in deep-water and ultra-deep-water projects. The rise in offshore mooring applications in semi-submersibles and floating production storage and offloading is projected to accelerate the global offshore mooring systems market growth.

Several major manufacturers are introducing new generation deep-water mooring and anchoring vessels and systems to address the issues relating to higher weights and tensions, vessel anchoring capabilities, and seabed conditions. 

However, harsh environmental conditions in the sea and high initial capital expenditure may restrain the growth of the global offshore mooring systems market.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Offshore Mooring Systems Market"

https://www.techsciresearch.com/report/offshore-mooring-systems-market/8172.html

The global offshore mooring systems market is segmented on the basis of mooring type, application, anchor type, regional distribution, and company.

On the basis of mooring type, the global offshore mooring systems market is divided into catenary, taut leg, single point, spread, dynamic positioning, and semi taut. The catenary mooring type is expected to dominate the market during the forecast period, 2023-2027. They are commonly used for shallow waters. Catenary mooring is the least expensive method to moor an FPSO. Catenary refers to the shape that a free-hanging line assumes under the influence of gravity. The restoring forces in the catenary system are provided by the suspended weight of the mooring line and its configuration change due to vessel motion. With the increase in depth, the cost of catenary mooring decreases.

On the basis of application, the global offshore mooring systems market is divided into floating, production, storage & offloading (FPSO), floating liquefied natural gas, tension leg platform, SPAR platforms, and others. The floating, production, storage & offloading (FPSO) segment is expected to hold the largest market share in the forecast period. An increase in investment from operators for deep-water drilling operations and the rising demand for global energy is expected to contribute to the market growth.

On the basis of anchor type, the global offshore mooring systems market is divided into drag embedment, vertical load, and suction. The suction anchor type is expected to hold a substantial market share in the predicted period. Suction anchor types are cost-effective and safe to carry on ultra-deep-water drilling. They offer several advantages over the traditional offshore foundations, such as they need less time for installation and are easier to move during decommissioning. Suction anchors are widely used to anchor large offshore installations like offshore drilling, oil platforms, and accommodation platforms to the seafloor at greater depths.

On the basis of regional analysis, the Asia-pacific region is expected to account for a significant market share in the forecast period. Increasing expenditure capacity of consumers and the continuous rise in population are driving the energy demand in the region. Ongoing exploration activities and the newly discovered oil reserves in the region are expected to create growth opportunities for the market. 

Major companies operating in global offshore mooring systems market are:

·         Aecom

·         Aquatec Group

·         Ashland Global Holdings Inc.

·         BASF SE

·         Dow Chemicals

·         Evoqua Water Technologies LLC

·         General Electric

·         Schlumberger Limited

·         Suez SA

·         DuPont de Nemours, Inc.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=8172

Customers can also request for 10% free customization on this report.

“Investment in technology by the major market players that manufacture advanced mooring systems to ensure safe and secure oil and gas exploration and production in harsh environmental conditions are expected to create tremendous growth opportunities for the offshore mooring systems market. Integration and development of advanced features to increase the accuracy in operations, lower human efforts, and maximization of safety measures is expected to play a significant role in the market growth. Ongoing technological advancements and the efforts made for the expansion of the oil & gas industry by leading authorities are expected to propel the global offshore mooring systems market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Offshore Mooring Systems Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027

Segmented By Mooring Type (Catenary, Taut Leg, Single Point, Spread, Dynamic Positioning, and Semi Taut), By Application (Floating, Production, Storage & Offloading (FPSO), Floating Liquefied Natural Gas, Tension Leg Platform, SPAR Platforms, Others), By Anchor Type (Drag Embedment, Vertical Load, Suction), and By Region”, has evaluated the future growth potential of global offshore mooring systems market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global offshore mooring systems market.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]