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2022
Offshore Mooring Market

Offshore Mooring Market

by Mooring Type (Catenary, Taut, Semi Taut, Spread, Single Point, Dynamic Positioning), by Anchors (Gravity Anchors, Drag Embedment Anchors, Vertical Load Anchors), by Application (Floating Production, Storage and Offloading (FPSO) Vessels, Floating Drilling, Production, Storage and Offloading (FDPSO) Vessels, Floating Liquefied Natural Gas (FLNG) Vessels, Tension Leg Platform, Semi Submersibles, Spar Platforms, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

✷  Report Code: A01495
Pages: 230
Apr 2022 | 15999 Views
Author(s) : Saurabh D , Yerukola P
Tables: 157
Charts: 69
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Offshore Mooring Market Research, 2030

The global offshore mooring market size was valued at $1.2 billion in 2020, and is projected to reach $1.7 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030. Offshore mooring is the system that provides temporary or permanent berth structure for ships or floating platforms in offshore fields. Floating structures in which mooring systems are used include, dry docks, piers, bridges, and oil drilling/production facilities.

The COVID-19 pandemic across the world has led to decrease in demand for oil and gas fuel, trade and logistics disruption which diminished the market revenue of offshore mooring in 2020.

Lockdown imposed, owing to outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries, which decreased the demand for oil & gas from consumers. In addition, halt in exploration & production of new offshore infrastructures and oil & gas fields, halt in trade activities, owing to unavailability of workers, and increase in demand–supply gap hampered the offshore mooring market growth during the pandemic period. This declined the market growth in the second, third, and fourth quarters of 2020. However, the offshore mooring market recovered by the second quarter of 2021, as COVID-19 vaccination begun in various economies across the globe, which improved the global economy.

Emergence of FPSO technology, which is more economical as compared to permanent platforms, growth in importance of new clean electricity, and high investments from Middle East as well as Latin America are expected to be the key factors that drive the growth of the market during the offshore mooring market forecast period. In addition, rise in demand for oil & gas across the globe is anticipated to drive the offshore market growth during the forecast period.

However, variations in oil prices and high cost associated with deep water projects are expected to restrain the growth of the market in the coming years. On the contrary, discoveries of oil & gas fields in the African and Asia-Pacific regions are projected to create opportunities for key players operating in the market from 2021 to 2030.

Offshore Mooring Market, Offshore Mooring Industry, Offshore Mooring Market Size, Offshore Mooring Market Share, Offshore Mooring Market Growth, Offshore Mooring Market Forecast, Offshore Mooring Market Analysis, Offshore Mooring Market Trends

The offshore mooring market is segmented into Mooring Type, Anchors and Application.

The offshore mooring market is segmented on the basis of mooring type, anchors, application, and region. On the basis of mooring type, it is categorized into catenary, taut, semi-taut, spread, single point, and dynamic positioning. On the basis of anchors, it is classified into drag embedment anchors, gravity anchors, and vertical load anchors. On the basis of application, it is classified into floating production, storage and offloading (FPSO) vessels, floating drilling, production, storage and offloading (FDPSO) vessels, floating liquefied natural gas (FLNG) vessels, tension leg platform, semi-submersibles, spar platforms, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global offshore mooring market are Offspring International, Blue Water Energy LLP, Mampaey Offshore Industries B.V., Rigzone Mooring Systems, Delmar Systems, Inc., Moorsure Mooring Systems Solutions Pty Ltd., Blue Water Energy LLP, Balltec Ltd., SOFEC, Inc., and SBM Offshore N.V.

The other players operating in the offshore mooring market are De Haan Mussel Kanaal, Scana Industrier ASA, Advanced Production and Loading, Multinational Craig Energy Services, Lamprell Energy, and LHR Services & Equipment.

These players adopt numerous strategies, including partnership, agreement, and collaboration to stay competitive in the offshore mooring market.

For instance, in November 2021, Blue Water Energy Services signed an agreement with CNOOC Energy Technology & Services. This agreement aimed at engineering, procurement, and construction of turret mooring systems, including a new mooring system for an FPSO to be located off China. This has strengthened the presence of company in the Asia-Pacific region.

Offshore Mooring Market
By Mooring Type

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Catenary segment is projected to create abundant revenue opportunity till 2030

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On the basis of mooring type, the catenary mooring segment registered highest market share in the year 2020. This is attributed to rise in demand for catenary mooring from deep shallow water fields. In addition, rise in offshore exploration and production activities is further expected to drive the growth of this segment in the coming years.

Offshore Mooring Market
By Anchors

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Drag embedment anchors segment was the highest revenue contributor in 2020

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By anchor, the drag embedment anchors registered highest market share in the year 2020. This is owing to rise in demand for this type of anchors from shallow to deep water applications. In addition, it is mainly used for catenary mooring which is highly used mooring system in offshore applications and hence fuels the growth of the market in the coming years.

Offshore Mooring Market
By Application

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Floating Production, Storage and Offloading (FPSO) Vessels is projected as the most lucrative segment.

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By application, the floating production, storage, and offloading (FPSO) vessels segment dominated the global market in 2020, in terms of share, owing to rise in demand for offshore mooring systems from FPSO vessels across the globe. In addition, rise in demand for FPSO platforms from oil & gas offshore exploration and production facilities is anticipated to drive the growth of the market in the coming years.

Offshore Mooring Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific holds a dominant position in 2020

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Asia-Pacific garnered the highest offshore mooring market share in 2020, in terms of revenue, and is anticipated to maintain its dominance during the forecast period. This is attributed to emergence of offshore fields in the South China sea, Australia, and others regions. Moreover, rise in investment towards oil & gas exploration and production and reducing dependence on imports is anticipated to fuel the growth of the offshore mooring market in the region during the forecast period.

The offshore mooring market is analyzed in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021–2030. The report includes the study of the Offshore mooring market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the offshore mooring industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the offshore mooring market analysis from 2020 to 2030 to identify the prevailing offshore mooring market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the offshore mooring market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global offshore mooring market trends, key players, market segments, application areas, and market growth strategies.

Offshore Mooring Market Report Highlights

Aspects Details
By Mooring Type
  • Catenary
  • Taut
  • Semi Taut
  • Spread
  • Single Point
  • Dynamic Positioning
By Anchors
  • Gravity Anchors
  • Drag Embedment Anchors
  • Vertical Load Anchors
By Application
  • Floating Production, Storage and Offloading (FPSO) Vessels
  • Floating Drilling, Production, Storage and Offloading (FDPSO) Vessels
  • Floating Liquefied Natural Gas (FLNG) Vessels
  • Tension Leg Platform
  • Semi Submersibles
  • Spar Platforms
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, U.K., Spain, Italy, Rest of Europe)
  • Asia-Pacific  (Japan, India, Australia, South Korea, Rest of Asia-Pacific, China)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players SOFEC, Inc., SBM Offshore N.V., Offspring International, Blue Water Energy, LLP, Mampaey Offshore Industries B.V., Rigzone Mooring Systems, Delmar Systems Inc, Lamprell Energy, Moorsure Mooring Systems Solutions Pty Ltd, Balltec Ltd
 

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Urbanization and growth of the transportation sector are the key factors attributed to the leading position of Asia-Pacific in the offshore mooring market. Huge potential in Asia-Pacific in exploration and production from the newly developed offshore oilfields are expected to provide lucrative growth opportunities to leading offshore mooring systems manufacturers.

The offshore mooring market holds a substantial scope for growth globally. The market is in its growth stage; however, its contribution to the global market is expected to increase significantly in the coming years. High initial capital expenditure associated with offshore mooring systems is a major limitation for the market growth. However, hike in oil & gas prices is expected to drive the market growth as oil & gas companies are projected to invest in offshore exploration and production. In addition, diversification of the retail sector of oil & gas is expected to hamper the market growth but reduced diversification and proper investment in the oil & gas sector are expected to flourish the market growth.

In addition, increase in social & environmental pressures on many oil & gas companies rises complex questions about the role of these fuels in a changing energy economy, and the position of these companies in the societies in which they operate, which in turn is expected to hamper the market growth in the coming years. Among the analyzed regions, Asia-Pacific is likely to account for the highest revenue in the market during the forecast period, followed by Europe, LAMEA, and North America.

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FREQUENTLY ASKED QUESTIONS?

A. Rise in energy consumption, exploration & production activities in offshore fields, and others are the upcoming trends of Offshore Mooring Market

A. Asia-Pacific is the largest regional market for Offshore Mooring Market

A. Floating Production, Storage and Offloading (FPSO) Vessels and Floating Drilling, Production, Storage and Offloading (FDPSO) Vessels are the leading application of Offshore Mooring Market

A. The global offshore mooring market was valued at $1.2 billion in 2020, and is projected to reach $1.7 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.

A. Offspring International, Blue Water Energy LLP, Mampaey Offshore Industries B.V., Rigzone Mooring Systems, Delmar Systems, Inc., Moorsure Mooring Systems Solutions Pty Ltd., Blue Water Energy LLP, Balltec Ltd., SOFEC, Inc., and SBM Offshore N.V. are the top companies to hold the market share in Offshore Mooring Market

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