Mooring Systems Market Growth, Share, Demand and Analysis of Key Players to 2025

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.

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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.

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 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.

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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.

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