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Global Mooring Systems Market: Promising Growth with Rising Offshore Exploration Expansion and Technological Advancements
Mooring Systems Market
What Is The Projected Market Size Of The Global Mooring Systems Market And Its Growth Rate?
The global mooring systems market has experienced substantial growth in recent years, with notable developments influencing the market size and growth rate:
• The market grew from $1.89 billion in 2024 to $1.98 billion in 2025, at a compound annual growth rate (CAGR) of 5.0%, driven by offshore exploration expansion and renewable energy development.
• The mooring systems market is projected to continue its strong growth, reaching $2.47 billion in 2029 at a CAGR of 5.7%, due to increasing offshore energy demand and infrastructure development.
What Is Driving The Growth In The Mooring Systems Market?
The growth in the mooring systems market is largely driven by the rise in exploration and production of oil and gas in offshore fields. As offshore installations take place in harsh deep-water environments, mooring systems are required to secure the installations from waves, water currents, and wind. The Energy Information Administration disclosed in June 2023 that global oil demand is set to grow by 6% between 2022 and 2028, meaning increased offshore oil and gas investments. This shift will significantly benefit the mooring systems market.
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Who Are the Key Players Driving Mooring Systems Market Growth?
Prominent companies in the mooring systems market include:
• National Oilwell Varco
• Timm AS
• Cargotec Corporation
• SBM Offshore
• Trellborg India Private Limited
• BW Offshore Limited
• MacGregor
• Lamprell ENERGY LIMITED
• Usha Martin Limited
• BMT Group Ltd
What Are The Key Trends In The Mooring Systems Market?
Key trends in the mooring systems market encompass:
• Deepwater exploration
• Floating renewable energy
• Technological advancements
• Environmental regulations
What Are The Segments Of The Global Mooring Systems Market?
The global mooring systems market is segmented by:
• Type: Taut Leg, Spread Mooring, Semi Taut, Dynamic Positioning, Catenary, Single Point Mooring
• Anchorage: Drag Embedment Anchors (DEA), Vertical Load Anchors (VLA), Suction Anchors
• Depth Type: Shallow Water, Deepwater
• Application Type: Floating Production Storage and Offloading (FPSO), Tension Leg Platform (TLP), SPAR, Semi-Submersible, Floating Liquefied Natural Gas (FLNG)
Which Region Leads The Mooring Systems Market?
In 2024, North America held the most considerable share of the mooring systems market, whereas Asia-Pacific is anticipated to be the fastest-growing region in the forecast period. The report provides comprehensive coverage of the mooring systems market across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Mooring Systems Market Global Market Report?
- Market Size Analysis: Analyze the Mooring Systems Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Mooring Systems Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Mooring Systems Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Mooring Systems Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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