Global Vessel Mooring System Market Will Grow USD 2,235 Million by 2026

Findings from Facts and Factors report "Vessel Mooring System Market By Type (Spread Mooring, Taut Leg, Semi Taut, Dynamic Positioning, Catenary, and Single Point Mooring) and By Application (Shallow Water and Deep/Ultra Deep water): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global Vessel Mooring System market in 2019 was approximately USD 1,745 Million. The market is expected to grow at a CAGR of 4% and is anticipated to reach around USD 2,235 Million by 2026.

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A vessel mooring system includes connectors & anchors, and mooring lines, which are determined by environmental factors such as waves and wind. The strength of the anchors determines the overall performance of mooring system. The different types of vessel mooring system contain spread mooring, taut leg, semi taut, dynamic positioning, catenary, and single point mooring. The vessel mooring system is used for a variety of applications such as it is used in shallow water and deep or ultra-deepwater.

Increased crude oil production has increased the demand for the vessel mooring systems. This is the major driver for the global vessel mooring system market. In addition, the rapid expansion of the transportation industry has augmented the target market growth. Moreover, rising demand for drilling activities associated with subsea exploration due to an increase in demand for energy is boosting the target market growth. Furthermore, onshore hydrocarbon reserves have been explored for many years. This has offshore activities more dominant. Indiscriminate onshore oil and gas field explorations, depletion of non-renewable energy sources have caused significant damage to wildlife, thereby propelling the target market growth. However, high replacement cost and maintenance are anticipated to hamper the target market growth over the forecast period. In addition, regulations related to mooring systems are expected to harm the target market growth as well. Nevertheless, several research activities undertaken by key players such as they are working to provide technologically enhanced equipment specific to certain operations for the development of vessel mooring system is expected to provide lucrative growth opportunities to the target market.

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In terms of type, the target market is classified as spread mooring, taut leg, semi taut, dynamic positioning, catenary, and single point mooring. Among these categories, single point mooring is the leading one. Single point mooring comprises a permanently moored buoy, that has a bearing system which lets a part of it to rotate around the moored geostatic part. Hence, it will be able to rotate itself into the dominant environment.

In terms of application, the target market is categorized as shallow water and deep/ultra-deepwater. Among these categories, deep/ultra-deep water is the leading one. It could be deployed in marginal fields at water depths greater than 1,000m.

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In terms of region, the target market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, North America is anticipated to be the leading one owing to the rising demand for drilling activities and subsea exploration due to an increase in demand for energy.

Some of the major key players operating in the target market are Bluewater Energy Services B.V., Samson Rope Technologies, Cavotec SA, Mampaey Offshore Industries B.V., Delmar Systems, Inc., Timberland Equipment limited, and others.

This report segments the Vessel Mooring System market as follows:

Global Vessel Mooring System Market: By Type Segmentation Analysis

Spread Mooring
Taut Leg
Semi Taut
Dynamic Positioning
Catenary
Single Point Mooring

Global Vessel Mooring System Market: By Application Segmentation Analysis

Shallow Water
Deep/Ultra Deep water

Global Vessel Mooring System Market: Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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