The escalating demand for energy and maturity of onshore oil & gas fields is attracting offshore field exploration. The Onshore oil and gas fields have been explored and drilled for centuries, which, resulted in the gradual reduction of the global reserves and the disadvantages such as pollution, damage to land impact to wildlife among others associated with the onshore production facilities have made man explore the under-ocean reserves.
Albany, NY -- (SBWIRE) -- 08/08/2016 -- This market research study analyzes the Offshore Mooring System Market on a global level, and provides estimates in terms of revenue (USD billion) from 2015 to 2021. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the next few years.
An offshore mooring system is a device that facilitates the anchorage of a ship or floating vessels and platforms in all water depths. An anchor on the seafloor to a floating vessel or platform connects a mooring line. In other words, offshore mooring systems are very essential for subsea production facilities. The mooring lines are made up of synthetic fiber ropes, wires and chains or a combination of the three. Environmental factors such as wind, currents and waves determine the type of materials to be used in a particular mooring system.
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Based on the type of offshore mooring system, the market has been segmented into catenary, taut leg system, semi-taut system, single point mooring, spread mooring and dynamic positioning mooring systems. With the advancement in technology, the mooring systems are continually getting smarter, faster and secure. In addition, these systems are also being used for generation of electricity based on wind and wave currents. The new clean electricity is gaining importance globally. Presently, the maximum utilization of wind and wave generated electricity is observed in Europe.
Due to the growing demand for energy, subsea exploration and production is on the rise globally. The companies in North America and Europe dominate the global offshore mooring systems market majorly. The key offshore production facilities are located in the Middle East, Latin America, and West Africa. However, new projects have recently been undertaken in the Asia Pacific, especially Malaysia and Australia. Newly discovered oil reserves in Brazil, South China Sea, North Sea, and the Arctic region are also providing positive growth opportunities for the offshore mooring industry. Several players from China, Japan, and Australia are entering the market with enhanced mooring systems solutions.
Mooring systems include chains, synthetic ropes, anchors, hooks, shackles, buoys, risers, and connectors. Various initiatives undertaken by different companies and research organizations are contributing to the development of the market by providing technologically enhanced equipment specific to certain operations. The merger of mooring systems with automation and information technology is driving the market growth by enabling better data collection, precision of the operations, reducing human efforts, and maximizing safety measures.
The growth of the offshore mooring systems market is highly augmented with the development of vessels such as floating, production, storage and offloading (FPSO), fluidized liquid natural gas (FLNG) and floating, drilling, production, storage and offloading (FDPSO).
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This report provides strategic analysis of the global Offshore Mooring market, and the growth forecast for the period 2014 to 2020. The span of the report includes competitive analysis of various market segments based on the types, module and in-depth cross sectional analysis of the Offshore Moorings market across different geographic segments. To support the strategic decision making, the report also includes profiling of leading players in the industry, their market share and various strategies adopted by them. The Porter's Five Forces analysis and market attractiveness analysis included in the report provide insight into market dynamics and industry competition.
The report also provides company market share analysis of the various industry participants with company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of Offshore Mooring market. Major market participants profiled in this report include in the offshore mooring systems market are SBM Offshore N.V., MODEC Inc., Delmar Systems Inc., BW Offshore Ltd. and Mampaey Offshore Industries B.V. among others.
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