An offshore mooring system is a structure that keeps vessels afloat, regardless of the depth. Offshore mooring systems are essential in subsea production facilities. There are a few factors based on which the material type of the mooring system is decided, such as currents, wind, and wave patterns for the specific location. These systems are additionally utilized for electricity generation from wave currents and wind. In terms of type, the offshore mooring system is segmented into taut leg systems, single point mooring, catenary, spread mooring, semi-taut systems, and dynamic positioning mooring systems.
The market for offshore mooring systems was estimated at US$928.3 million in 2014, and is anticipated to reach US$1,159.6 million in 2021, expanding at a 3.6% CAGR between 2015 and 2021.
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What are the key driving factors stimulating the growth of the offshore mooring systems market?
The increase in investments in the subsea exploration market impacts the growth of the offshore mooring systems market. The promising high-investment areas such as the Middle East, Latin America, and Africa are the promising regions for the significant growth of the global offshore systems market. Additionally, the consistent fluid flow in deepwater production, rising demand for energy, and increase in subsea production and exploration is a substantial factor fuelling the offshore mooring systems market.
Which application of offshore mooring systems is high in demand?
Demand for storage and offloading vessels (FPSO) is rising globally at a great pace because of their competency in disconnecting from the mooring systems under extreme weather conditions in oceans. Furthermore, the swift offloading and storage capacity also fuels the demand for FPSO in the worldwide offshore gas and oil production industry.
Which are the leading companies in the global offshore mooring system market?
- Advanced Production and Loading (APL)
This Norwegian company manufactures and designs turret mooring systems as well as other products for FPSOs and various other offshore vessels. APL was formerly a subsidiary of BW Offshore and was purchased by National Oilwell Varco (NOV) in 2010. Mooring systems, mainly turrets, are provided by this company for both FPSOs and FSOs. A few years back, APL provided a mooring system for the first ever FPSO vessel to be utilized in the Gulf of Mexico.
- Aker Solutions
Aker Solutions provides oilfield systems, services, and products to their wide spectrum of customers in the gas and oil industry. The company is able to trace its roots back in 1841, however, it has been operating under its present name from 2008, when it got renamed from Aker Kværner. Aker Solutions supplies its Pusnes offshore mooring systems to customers all around the world, with numerous designs and types of fairleads, chain stoppers, and winches.
A few years ago, a contract was awarded to the company for designing and supplying the on-vessel Pusnes mooring system for the FPSO Goliat, which had to be positioned 85 km offshore, in the Barents Sea in Norway, northwest of Hammerfest.
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Other prominent players in the market include Delmar Systems Inc., MODEC Inc., and SBM Offshore N.V.