Automated Mooring Systems Market Rising Demand From Oil and Gas Industry

According to Precision Business Insights (PBI), the latest report, the automated mooring systems market is expected to be valued at USD 1,468.3 million in 2022, growing at a 4.4% CAGR from 2022 to 2028. The primary driver of the expansion of the global Automated Mooring Systems market is driven by rising demand from the oil & gas industry, and increasing investments in developing countries for the extraction of proven oil & gas reserves.

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Spread Mooring Segment to Dominate the Automated Mooring Systems Market:
Based on the mooring type, The Spread Mooring segment accounted for the strong market share and is projected to grow with the highest share during the forecast period. The spread mooring system comprises multiple groups of mooring lines fitted to the bow and stern of the vessel in a symmetrical pattern. The system upholds the vessel or floating offshore structure in a fixed position at sea while maintaining a stable heading. Spread mooring systems can be used in any water depth and on any size vessel in applications that have a long service life. These features of the spread mooring system increase the demand in various sectors such as oil extraction, consequently having given a positive impact on the automated mooring system market.

North America Automated Mooring Systems Market:
North America is anticipated to hold a strong share in the global automated mooring system market due to the rising demand for energy which is needed to intensify its drilling activities and subsea exploration. Asia Pacific region is anticipated to have significant growth in the global automated mooring system market over the forecasted period owing to new discoveries of oil & gas in offshore Australia, the South China Sea, etc. Furthermore, the surge in demand for energy due to rapid urbanization, along with robust economic growth is also expected to fuelling the market growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Automated Mooring Systems market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The automated mooring systems market is segmented based on product type, anchor type, mooring type, application, and geography.
Based on the product type, the market is segmented into the following:
• Mooring
• Magnetic Mooring

Based on the anchor type, the market is segmented into the following:
• Vertical Loaded Anchors
• Drag Embedment Anchors
• Suction Anchors
• Others

Based on the mooring type, the market is segmented into the following:
• Spread Mooring
• Single Point Mooring
• Catenary Mooring
• Dynamic Positioning
• Taut Leg
• Others

Based on the application, the market is segmented into the following:
• Floating Production Storage
• Tension Leg Platform (TLP)
• Floating Liquefied Natural Gas (FLNG)
• Semi-Submersible, SPAR
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the Automated Mooring Systems Market report are Trelleborg, TTS Group, MacGregor, Mooring Systems Ltd, ZAD Marine, C-QUIP, Lamprell Plc, SBM Offshore, MODEC, Cavotec SA, Delmar systems, Trelleborg Marine, C-Quip Limited, Mampaey Offshore, and Offspring International

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