Global Reports the Offshore Mooring Systems Market Was Valued at 1,037 Million Dollars in 2015 And Is Forecasted to Show a Rise of 1,408 Million by 2022

As per the global reports the offshore mooring systems market was valued at 1,037 million dollars in 2015 and is forecasted to show a rise of 1,408 million by 2022 at a growing CAGR of 5% during the forecasted period.

Offshore moorings denote permanent or temporary berthing for ships just as for a wide scope of floating structures including dry harbors, piers, bridges, and oil drilling or production services. Cargoes are often moored at shore moorings while oil transfers. Mooring systems are the equipment that hold floating storage and offloading oil vessels.

The development of this innovation has tended to the requirement for Floating production storage and offloading FPSO and production facilities in deep to ultra-deep water projects. This technology has outpaced the traditional method of temporary anchors with synthetic mud ropes.

An offshore mooring system comprises of 3 parts anchor system, mooring line and mooring design.

Working of Mooring system

A mooring system consists of a mooring line, anchor and connectors used for stationing a ship or floating platforms in all water depths. A mooring line joins or connects with an anchor on the seabed to a floating structure.

A mooring line can consist of fibre rope or wire or a chain or combination of all three depending on environmental conditions such as wind, waves or currents. Chain is the most preferred choice for permanent moorings in shallow water of 100m depth while steel wire rope is light weight and more elastic than chain and useful for 300m deep water which is also considered as the most suitable option for deep waters. Comparatively, yet, another type is synthetic rope which is one of the lightest option of all three. Combinations of all three types of mooring lines are used in ultra-deep water which is deeper than 2000m.

An anchor is a heavy object attached to a cable or mooring line used for mooring a ship to sea bottom, usually a weighty metal shank. The mooring system recons on the strength of the anchors and its holding capacity. The anchors holding capacity depends on digging depth and soil properties. The mooring lines run through a vessel to the seabed and is dragged along until it extents to a specific depth. As it punctures through the sea floor, it uses soil resistance to clasp the anchor in one place. Suction anchors are primary mooring and foundation system used worldwide for deep-water development projects. Cylindrical piles are forced onto seabed with a pump attached to it which sucks out water from the top pile end by which pile further into seabed.

Types

There are six types of mooring systems namely Catenary, Taut leg, Semi taut, Spread, Single point, and Dynamic positioning where Catenary is the most commonly used in shallow water. A tout le system typically uses polyester rope that is pre-tensioned until taut. A semi-taut system is a combination of taut lines and catenary lines, ideally used in deep waters. A spread mooring systems is a group of mooring lines is a gathering of mooring lines dispersed over the bow and stern of the vessel to secures on the ocean bottom. A single point mooring system associates all the lines to a solitary point.

Market overview

The global offshore mooring systems market seems to show a sustainable rise due to increasing applications of offshore mooring additionally, higher demand for oil and surge in offshore exploration and production have fuelled the growth of market.

Rise in demand for energy, clean city and progress of onshore oil and gas fields have significantly impacted the market, moreover, rise in utilization of FPSO’s creates opportunities for the market.

Upsurge in demand for energy elements such as oil and gas has fuelled the market. Oil and gas segment has principally been used in essential services like power generation and fuel transportation. Due to increasing population and the purchasing power of individuals it is anticipated the Asian market mostly China to flourish reason being high economic growth of the region.

As there is high potential for oil and gas exploration in the regions of Africa thus rising sub-sea drilling activities are seen in Africa resulting growth of offshore mooring systems.

The strategy to drive the market is by partnership, agreement, merger, and acquisition.

The market is split by application, anchor, mooring type, and geography. Based on applications it is further divided into floating production storage & offloading (FPSO) vessels, floating drilling production storage & offloading (FDPSO) vessels, floating liquefied natural gas (FLNG) vessels, tension leg platform (TLP), SPAR platforms, semi-submersibles, and others (conductor support systems, fixed platform, and compliant towers). On the basis of anchor, the market is further segmented to drag embedment anchors, suction anchors, and vertical load anchors. By mooring type into catenary mooring, taut leg mooring, semi-taut mooring, spread mooring, single point mooring, and dynamic positioning mooring system. Geographically the market is divided to North America, Europe, Asia-Pacific, and LAMEA in addition to this country like Australia, Vietnam, China, and Indonesia are emerging as leading FPSO markets globally. Due to growing demand of subsea exploration, renewable energy and petroleum in European market it is expected to show a significant growth. while countries such as Germany, France, UK, Netherlands, and Italy are expected to have brisk progress in the forecasted period.

Some of the prominent key player of the market are Viking Sea Tech, Intermoor, Inc., Baltec Systems Pvt. Ltd., Delmar Systems, KTL Offshore Pte Ltd., MODEC, Inc., Mampaey Offshore Industries B.V., Mooring Systems Inc., SBM Offshore N.V., and BW Offshore Ltd.