Mooring Systems Market Forecast Report Offers Actionable Insights 2017 - 2025
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.
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The global mooring systems market can be segmented into application, anchorage, mooring type, and region. Based on application, the global mooring systems market can be divided into floating production storage and offloading (FPSO), tension-leg platform (TLP), floating LNG (FLNG), and others. FPSO accounted for the key share of the mooring systems market in 2016, whereas, TLP is the dominant among applications and its usage is expected to increase significantly during the forecast period. Similarly, FLNG, after its launch in the market in the near future, is predicted to boost the demand for global mooring systems, primarily in Asia Pacific.
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 mooring type, the mooring systems market can be classified into catenary, taut leg, semi-taut, tendon, spread, dynamic positioning, and single point mooring. Single point mooring accounted for the major share of the market, in 2016 owing to the rise in application of the FPSO. Single point mooring allows the vessels to weathercock and are capable of operation in adverse offshore conditions. Based on depth, the mooring systems market can be further divided into deep/ultra-deep (>1000 m) and shallow (
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