Offshore Mooring Systems Market Size, Growth And Forecast 2023-2028

IMARC Group, a leading market research company, has released a report titled “Offshore Mooring Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global offshore mooring systems market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.61% during 2023-2028.

Offshore mooring systems are specialized equipment designed to maintain the position of ships and floating platforms in all water depths. They typically comprise three components, including the anchor system, mooring line, and connectors. The specific mooring layout of these systems is determined by the local environmental conditions and the intended purpose of the offshore unit. They provide permanent and temporary berthing for various floating structures, including dry docks, piers, bridges, and oil drilling or production facilities. As a result, offshore mooring systems find extensive applications as an essential component of numerous floating facilities in the oil, gas, and renewable energy industries across the globe.

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Offshore Mooring Systems Market Trends and Drivers:

The global offshore mooring systems market is primarily driven by rapid expansion in the oil and gas sector. Moreover, the shifting inclination toward oil and gas extraction activities to deep-water areas to cater to the escalating energy demand due to depleting shallow and onshore gas reserves is positively influencing the market growth. Additionally, governments of numerous countries are introducing stringent policies and regulations to address the increasing offshore complexities and instances of adverse mooring accidents, which in turn have catalyzed market growth. Other factors, including shifting preferences toward clean electricity, surging need for subsea explorations, and rising investments in deep-water drilling activities, are also anticipated to drive the market further.

Report Segmentation:

The report has segmented the market into the following categories:

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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