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Global Offshore Mooring System Market Driven by Increasing Subsea Exploration and Production

Article Description

An offshore mooring system is a device used to facilitate anchoring a ship or other floating vessels and platforms in all water depths. The technique connects a floating vessel or platform to the sea floor using a mooring line. Offshore mooring systems market are therefore essential components in subsea production facilities. Mooring lines are used making synthetic fiber ropes, chains, or wires, or a combination of the three. The type of materials to be used for making the mooring line depends on environmental factors such as the winds, waves, and currents at the location of the platform.  

Globally, rising demand for energy is being witnessed at present. Additionally, onshore oil and gas fields have also reached a point of saturation, thereby making offshore field exploration more attractive to investors. Since onshore oil and gas fields have been explored for many decades, it has resulted in gradual reduction of the natural reserves. Alongside the reduction of nonrenewable energy sources, indiscriminate onshore oil and gas field explorations have also spurred concerns such as pollution and have caused significant damage to wildlife. The situation subsequently increases demand for subsea processing systems, which save both efforts and time. Recently conducted market surveys reveal that the Middle East and Africa and Latin America exhibit lucrative investment opportunities for the global offshore mooring systems market. This is attracting more funds into the subsea market, which in turn gives a significant impetus to the market for offshore mooring systems.

Fundamental Benefits Offered by Mooring Systems Lead to Increased Use in Electricity Generation

Based on type, the global offshore mooring system market can be segmented into taut leg systems, catenary, semi-taut systems, spread mooring, dynamic positioning mooring systems, and single point mooring systems. With the introduction of the latest technologies, mooring systems are becoming more secure, faster, and smarter. Due to such fundamental benefits, these systems are also increasingly being used for the generation of electricity from wind and wave currents. Therefore, as the new avenues of clean electricity gain importance globally, the market for offshore mooring systems will correspondingly expand. Presently, Europe is at the forefront of adopting clean energy obtained from wind and wave power.

In terms of application, the global offshore mooring systems market is segmented into floating drilling, storage and offloading (FPSO) vessels, floating production, production, semi-submersibles, floating liquefied natural gas (FLNG) vessels, spar platforms: storage and offloading (FDPSO) vessels, tension leg platform, and others.

High R&D Investment by Companies Boosting Global Offshore Mooring Systems Market

Mooring systems comprise synthetic ropes, chains, hooks, anchors, shackles, risers, connectors, and buoys. Companies and research organizations from around the world have taken several initiatives contributing to the development of technologically enhanced equipment to perform specific functions. Such research and development initiatives have given a significant boost to the market. Furthermore, the integration of information and automation technologies in mooring systems have provided an advanced design to the systems. Such developments also help in fuelling the demand from the global offshore mooring systems market.

Browse the full Global Offshore Mooring Systems Market report at http://www.mrrse.com/offshore-mooring-system-market

Some of the leading companies operating in the global offshore mooring systems market include SBM Offshore N.V., Delmar Systems Inc., MODEC Inc., Mampaey Offshore Industries B.V., and BW Offshore Ltd.