Offshore Mooring Global Market was valued at $1,037 million and is expected to witness a steady growth to reach $1,408 million by 2022, growing at a CAGR of 5.0% during the forecast period
Research study says global offshore mooring market was valued at $1,037 million and is expected to witness a steady growth to reach $1,408 million by 2022, growing at a CAGR of 5.0% during the forecast period, Request report sample @ http://www.researchbeam.com/offshore-mooring-market/request-sample
Research Beam added report on “World Offshore Mooring Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Offshore Mooring Market by Mooring Type (Catenary Mooring, Taut Leg Mooring, Single Point Mooring, Spread Mooring, Dynamic Positioning, and Semi Taut Mooring), Application (Floating, Production, Storage, and Offloading (FPSO), Floating Drilling, Production, Storage & Offloading Vessels (FDPSO), Floating Liquefied Natural Gas (FLNG), Tension Leg Platform (TLP), Semi-submersibles, Spar Platforms, and Others ), Anchorage (Drag Embedment Anchors (DEA), Vertical Load Anchors (VLA), and Suction Anchors) – Global Opportunity Analysis and Industry Forecast, 2014-02022”
A mooring system comprise mooring lines, mooring anchor, and connectors, which are installed on the vessels to facilitate the station keeping away from the floatation platforms. The emergence of this technology has addressed the need for floating production storage & offloading (FPSOs) and production facilities in deep-water and ultra-deep-water projects. It has outpaced the conventional technology of temporary anchors by use of synthetic mud ropes, which have now become a standard in oil & gas industry.
Increasing applications of offshore mooring in floating production storage and offloading (FPSOs) and semi submersibles is expected to fuel the mooring market growth. Moreover, growth in demand for energy and surge in offshore exploration and production further drive the offshore mooring market. These factors are expected to have a positive impact on the offshore mooring market owing to increase in maturity of onshore oil and gas fields that could lead to offshore exploration and production. Some of the restraints associated with the offshore mooring market are high initial CAPEX and harsh environmental conditions in the sea.
Top impacting factors
The increase in demand for energy, clean electricity and maturity of onshore oil and gas fields have a significant impact on the market. In addition, the increase in use of FPSOs (Floating, Production, Storage, and Offloading) and FLNGs create opportunities for the market growth. However, high initial investments in offshore field exploration could restrict the growth of the market.
Read More@ http://www.researchbeam.com/offshore-mooring-market
Increasing Demand For Energy And Clean Electricity
Upsurge in demand for energy has fueled the offshore mooring market. Oil & gas segment is used in essential services such as power generation and transportation fuels. Since, the demand for energy is driven by increasing population and purchasing power of individuals in developing economies, it is anticipated to increase by 14% with 70% requirements from Asia (mostly China) due to the region’s robust economic growth. Therefore, increasing demand for energy and clean electricity is estimated to propel the growth of the offshore mooring market.
Maturity of Onshore Oil and Gas fields
The gradual reduction of onshore reserves has led to increase in offshore field exploration and rise in offshore mooring market. This is a significant impacting factor which creates opportunity for the market growth.
Emergence of FPSO
Offshore mooring is expected to grow due to emergence of FPSOs (Floating, Production, Storage, and Offloading) , since these use offshore mooring to keep the drilling hole in position. However, major challenge in offshore mooring systems is to place the anchor in right position so that hole is at right position at all times. Therefore, the need for FPSOs to float and produce oil has propelled the demand for offshore mooring.
High initial investments
Offshore exploration and production companies are expected to see continued growth in exploration and spending on the production of new mooring systems. Initial investments are high in exploration and production, which leads to high investment in offshore mooring.
Increasing sub-sea drilling activities in African countries
African countries have high potential for oil & gas exploration and production resulting in growth of offshore mooring systems. According to Deloitte, large amount of hydrocarbons are reserved in East Africa that need technological advancements to induce the growth of offshore mooring market in the region.
Ask For Discount@ http://www.researchbeam.com/offshore-mooring-market/purchase-enquiry
Segment Overview
The market is segmented by application, anchor, mooring type, and geography. On the basis of applications, it is further divided into floating production storage & offloading (FPSO) vessels, floating drilling production storage & offloading (FDPSO) vessels, floating liquefied natural gas (FLNG) vessels, tension leg platform (TLP), SPAR platforms, semi-submersibles, and others (conductor support systems, fixed platform, and compliant towers).
Based on anchor, the market is further divided into drag embedment anchors, suction anchors, and vertical load anchors. By type, the market is further sub-segmented into catenary mooring, taut leg mooring, semi-taut mooring, spread mooring, single point mooring, and dynamic positioning mooring system. Geographic analysis of each of the segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Some of the prominent key players operating in the offshore mooring industry are Viking Sea Tech, Intermoor, Inc., Baltec Systems Pvt. Ltd., Delmar Systems, KTL Offshore Pte Ltd., MODEC, Inc., Mampaey Offshore Industries B.V., Mooring Systems Inc., SBM Offshore N.V., and BW Offshore Ltd.
Other players operating in the world offshore mooring market include (not profiled in this report) Single Point Mooring Systems, Balmoral Group, Blue Water Energy Services, LHR Services & Equipment, Rigzone Mooring Systems, Lamprell Energy Ltd., Advanced Production and Loading, Scanalndustrier ASA.
Offshore Mooring Market Key Benefits
- This report provides an extensive analysis of the current and emerging market trends and future estimations in the offshore mooring market
- This study aims to identify prevalent market opportunities and the competitive environment across the geographies.
- Comprehensive analysis of factors that drive and restrict the growth of the offshore mooring market is provided
- This report entails the detailed quantitative analysis of current market and estimations through 2016-2022, that assist in identifying the prevailing market opportunities to capitalize on the global offshore mooring market.
- Comprehensive analysis on factors that are driving and restraining growth of global offshore mooring market is included.
Offshore Mooring Market Key Segments
By Application
- Floating, Production, Storage & Offloading (FPSO)
- Floating Drilling, Production, Storage & Offloading (FDPSO) Vessels
- Floating Liquefied Natural Gas (FLNG)
- Tension Leg Platform (TLP)
- Semi-Submersibles
- SPAR Platforms
- Others
About Us:
With the arsenal of different search reports, Research Beam helps you here to look and buy research reports that will be helpful to you and your organization. Our research reports have the capability and authenticity to support your organization for growth and consistency. With the window of opportunity getting open and shut at a speed of light, it has become very important to survive in the market and only the fittest and competent enough can do so. So, we try and provide with latest changes in the market that can suit your needs and help you take decision accordingly.
Contact Us:
5933 NE Win Sivers Drive, #205, Portland, OR 97220
