Global Mooring Systems Market Witnessed To Reach Revenue of USD2.1 Billion By 2020

Date: 2016-10-13

The mooring system facilitates the anchorage of a ship or other floating vessels and platforms across all kinds of water depths and are considered as important for the subsea production facilities. On the other hand, the high initial investments, lack of technical knowledge and harsh deep sea environmental conditions will affect the growth in the short run, but with the technology advancement, training and the safety measures, the market is expected to grow gradually. 

The major driving factors for the market are the On-going discoveries of deepwater hydrocarbon reserves create several opportunities for the oil & gas producers as well as service providers along the value chain, according to report, global Mooring Systems Market is witnessed to reach revenue of USD2.1 Billion by 2020.

Geographically, Asia-Pacific has taken the lead with the fastest growth rate among all other regions followed by the Middle East & Africa. Rapid technological developments are improving the drilling and production capability of rigs and vessels which aids exploration and production activities in the deep-water and ultra-deep-water areas across the globe. This has given a boost to the mooring systems market.

However, the North America accounts for more than the half of the global market share.

On the basis of types: the mooring systems are classified as taut leg, spread mooring, semi taut, dynamic positioning, catenary and single point mooring. The Tension Leg Platforms (TLP) segment expected to be the third-largest in the mooring systems market in 2015 and is expected to be the highest growing application during the forecast period. There is a continuous increase in TLP installations and capex in the past few years supporting the growth of the market. The TLPs are best suited for the harsh ocean conditions and so are mostly installed in the GOM region giving boost to the application.

Mooring Systems market share by region as following:


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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520

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