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(Construction.IndustryNews247.Com, January 03, 2019 ) The global Offshore Mooring System Market is used in oil rigs, for extraction of oil from sea and transferring the oil onto ships. An offshore mooring system is also used in oil wells to extract crude oil.
Devices that helps the anchorage of the floating vessels or ships and platforms across all kind of water depths is known as offshore mooring system. A mooring line or an anchor attach the ship to the sea floor and it is important and critical for subsea production facilities. Wires, synthetic fiber ropes and chains or all the three together are used to make mooring lines.
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Some of the key players operating in the global offshore mooring market are Offspring International, Mampaey Offshore Industries B.V., Lamprell Energy Ltd., Advanced Production and Loading, Balltec Limited, HR Services & Equipment Inc., ScanaIndustrier ASA, MODEC Inc., De Haan Mussel Kanaal B.V., Rigzone Mooring Systems, Delmar Systems Inc., Balmoral Group, BW Offshore Ltd, Single Point Mooring Systems, BW Offshore Ltd and Blue Water Energy Services among others.
The material type used in a particular mooring system is determined by environmental factors like currents, waves and wind. The rapid growth in energy industry and oil & gas will help in the rise of the overall global offshore mooring market. The increasing energy demand worldwide and increasing focus on clean electricity is expected to actuate the global market for offshore mooring system.
Also, with the increase in per capita consumption of energy due to rising population will help to drive the market for offshore mooring system. Lack of technical knowledge, high investments and crude environment conditions under the sea will affect the market growth, however with the advancements in the technology, safety measures and training, the market is expected to grow at a decent pace.
The offshore mooring system is segmented on the basis of type into taut leg system, single point mooring, spread mooring, semi-taut leg system and dynamic positioning mooring. The offshore mooring system is further bifurcated on the basis of anchorage includes vertical load anchors, suction anchors and drag embedment anchors.
The market is also divided by application into SPAR, floating production storage & offloading (FPSO), tension leg, floating liquefied natural Gas (FLNG) and semi-submersible platforms. On the basis of depth the offshore mooring market can be segmented by shallow (1000 m). The global offshore mooring market is also bifurcated on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa.
Offshore mooring systems consist of anchors, shackles, hooks, risers, connectors, buoys and synthetic ropes. Research organizations and different companies are taking initiatives that contributes the development of the offshore mooring systems for precise operations.
The integration of mooring systems with information technology and automation is driving the growth of the market by facilitating better precision of the operations, maximizing safety measures, reducing human efforts and data collection. Development of vessels such as FLNG, production, FPSO, drilling, storage, (FDPSO).and floating has boost the growth in the market for offshore mooring.
Positive growth events for the industry can be seen due to newly explored oil reserves in South China Sea, Brazil, Arctic region and North Sea. Many players from Japan, Australia and China are introducing themselves in the market with improved mooring systems solutions. The demand for drilling activities and subsea exploration are increasing with the rise in energy demand.
Due to increase in the investments in deep, shallow and ultra-deep water research by the new companies, Europe market is growing. Decent growth can be seen in the Asia Pacific market for offshore mooring. Due the availability of crude oil wells in the Middle East, the market is expected to grow as well. Subsea activity can benefit the growth of the market in South America. The global offshore mooring market is dominated by North America and Europe majorly. Though, the key facilities of offshore production are located in the South America, Africa and Middle East but new projects are initiated in the Asia Pacific.
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The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com 
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