The global Offshore Mooring Systems Market is expected to reach USD 1.32 billion by 2025, according to a new report by Grand View Research, Inc. Increasing oil and gas production and exploration from the offshore fields rather than the onshore and the rising development of shale drilling regions for sustainable growth in future is expected to drive the demand for offshore mooring market.
Innovation of new technologies for development of new systems in order to cater to the increasing complexity of offshore platforms along with maximum cost cutting is the major trend in the industry. The industry players are focusing on developing driverless latching systems in order to increase safety level during operations.
Spread systems were the largest product type while accounting for over 32% market revenue in 2016. These systems are majorly utilized in a wide range of applications such as mobile offshore drilling units (MODU) to the ships with catenary type being the major product category.
Single buoy moors consist of a loading/floating substance anchored offshore, which serves as an anchorage point and an interconnection for tankers stocking or offloading oil or gas or any other liquid products. The segment is anticipated to witness the fastest growth over the next eight years at a CAGR of 2.6% from 2016 to 2025.
U.S. offshore mooring systems market revenue by type, 2014 – 2025 (USD Million)
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Further key findings from the report suggest:
Global offshore mooring systems market revenue share by anchorage, 2016 (%)
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Grand View Research has segmented the global offshore mooring systems market on the basis of product, end-use and region:
Offshore Mooring Product Type Outlook (USD Million, 2014 – 2025)
Offshore Mooring Anchorage Outlook (USD Million, 2014 – 2025)
Offshore Mooring Application Outlook (USD Million, 2014 – 2025)
Offshore Mooring Regional Outlook (USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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