Published: Jul, 2016
Transparency Market Research (TMR) announces the release of a new report on the global offshore mooring systems market. The report examines the historical development figures of the offshore mooring systems market till 2014 and further presents solid forecasts regarding the market’s development in the 2015-2021 forecast period. The report is titled ‘Offshore Mooring Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021’ and is available for sale on the official website of TMR.
Browse the full Offshore Mooring Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021 report at https://www.transparencymarketresearch.com/offshore-mooring-system-market.html
stems market was valued at US$928.3 mn in 2014. Exhibiting a steady 3.6% CAGR from 2015 to 2021, the market is expected to rise to a valuation of more than US$1.1 bn.
The major driver for the global offshore mooring systems market is the increase in the demand for oil and gas. Awareness regarding the adverse effects of onshore oil and gas exploration is rising, which is also propelling the global offshore mooring systems market. Offshore oil and gas exploration is becoming increasingly lucrative for global oil and gas companies due to the discovery of petroleum reserves off the coast of West and Africa and Brazil.
Due to the failure of unconventional energy sources to catch up with fossil fuels, petroleum fuels remain dominant in the industrial and other key sectors. This is a major driver for the global oil and gas industry and thus for the offshore mooring systems market.
On the other hand, the major restraint on the offshore mooring systems market is the high initial cost of offshore oil and gas exploration infrastructure. Even though the increasing demand has made offshore exploration profitable, the global oil and gas industry was dealt a strong blow by the rapid drop in oil prices in the last two years. This has restrained the global offshore mooring systems market to some extent.
The trajectory of the offshore mooring systems market in the coming years is expected to be determined the success of new-generation, advanced mooring systems featuring state-of-the-art safety and operation mechanisms.
Based on the type of system, the global offshore mooring systems market is categorized into catenary systems, single point mooring systems, spread mooring systems, taut leg systems, semi-taut leg systems, and dynamic positioning. Among these, catenary offshore mooring systems hold the dominant share in the market, while FPSO (floating production, storage, and offloading) vessels are the major application segment of the global offshore mooring systems market.
The report examines the performance of the offshore mooring systems market in Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. The Asia Pacific is driven by the expanding oil and gas sector in countries such as China, Indonesia, Australia, and Japan, and is expected to emerge as a major market for offshore mooring systems over the forecast period.
Key players profiled in the report include Delmar Systems, Timberland Equipment Ltd., Mooring Systems Inc., FMC Technologies Inc., SBM Offshore N.V., and MODEC Inc.
The global offshore mooring systems market is segmented as follows:
Offshore Mooring Systems Market, by Types
- Taut Leg
- Semi Taut
- Single Point mooring
- Spread mooring
- Dynamic positioning
Offshore Mooring Systems Market, by Application
- Tension Leg platforms
- Semi Submersible platforms
- SPAR platforms
Offshore Mooring Systems Market, by Anchorage
- Drag Embedment Anchors
- Suction Anchors
- Vertical Load Anchors
Offshore Mooring Systems Market, by Geography:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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