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A mooring system consists of an anchor, a mooring line, and connectors. It is used in a ship or floating platform to keep it stationed at all water levels. The ship is connected to the sea-floor using an anchor and a mooring line. The mooring line is generally made up of wire, chain, and synthetic fiber rope, or a combination of all of these. The mooring system relies on the strength of the anchors. The holding capacity of the anchor depends on the properties of the soil and the depth of the dig. The mooring lines passes from the vessel to the anchors on the ocean floor.

Increase in the exploration and production of oil and gas in the offshore fields rather than the onshore across globe, and development in shale gas activities in North America are expected to drive the demand for the mooring systems market in the region. High investments in offshore operation and profitable business conditions in Latin America and Middle East & Africa are propelling the growth of the mooring systems market. Technological advancements in the production and drilling capability of vessels and rigs in deep water and ultra-deep water are estimated to boost the global mooring systems market in the near future.

The global mooring systems market can be segmented into application, anchorage, mooring type, and region. Based on application, the global mooring systems market can be divided into floating production storage and offloading (FPSO), tension-leg platform (TLP), floating LNG (FLNG), and others. FPSO accounted for the key share of the mooring systems market in 2016, whereas, TLP is the dominant among applications and its usage is expected to increase significantly during the forecast period. Similarly, FLNG, after its launch in the market in the near future, is predicted to boost the demand for global mooring systems, primarily in Asia Pacific.

Based on anchorage, the mooring systems market can be segmented into drag embedment anchors (DEAs), suction piles, and vertical loads. DEAs are highly used for mooring system in the Gulf of Mexico. Suction piles are the predominant foundation system and mooring used for the deep-water development projects across the world. They are used in clay, mud soils, and sand. However, it is difficult to use them in gravel due to the flow of water over-ground during installation. Vertical load anchors and drag embedment anchors are essentially similar as they are installed in the same way. The vertical load anchors can withstand both vertical and horizontal mooring forces. They are primarily used in taut leg mooring systems, where the mooring line touches the ocean bed at an angle.

Based on mooring type, the mooring systems market can be classified into catenary, taut leg, semi-taut, tendon, spread, dynamic positioning, and single point mooring. Single point mooring accounted for the major share of the market, in 2016 owing to the rise in application of the FPSO. Single point mooring allows the vessels to weathercock and are capable of operation in adverse offshore conditions. Based on depth, the mooring systems market can be further divided into deep/ultra-deep (>1000 m) and shallow (<1000 m).

Based on region, the mooring systems market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Rise in demand for energy across the globe is expected to boost the production of oil and gas in North America and the Middle East. Exploration and production activities of onshore reserves of oil and gas shifted to the offshore reserves, as the onshore fields reached the stage of maturity. Africa is estimated to offer lucrative opportunities to the mooring systems market on account of the prevalence of liberal regulatory policies in the region. It is also projected to expand at a rapid pace during the forecast period. Asia Pacific is a leading consumer of oil and gas due to the high-level consumption in countries such as China and India.

Key players operating in the global mooring systems market are Mooring System, Inc., Bluewater Holding B.V., Modec Inc., Cargotec Corporation, Timberland Equipment limited, Delmar Systems, Inc., and Mampaey Offshore Industries B.V.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Mooring Systems Market

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