Mooring Systems Market worth 1.89 Billion USD by 2020 Mooring Systems Market
Mooring Systems Market worth 1.89 Billion USD by 2020
The report "Mooring Systems Market by Application (FPSO, TLP, SPAR, Semi-submersible and
FLNG), by Anchorage (DEA, VLA, and Suction), by Mooring type (Spread, SPM, DP, and Tendon),
by Depth (Shallow & Deep/Ultra-deep), & by Region - Global Trends & Forecast to 2020", The
mooring systems market is estimated to grow at a CAGR of 3.7% from 2015 to 2020 and is expected to
reach USD 1.89 Billion by 2020. The market is driven by rising demand for oil & gas, which is met by
increasing investments in emerging economies with proven oil & gas reserves preferably in Deepwater &
In the mooring systems market by application, FPSO occupies the lions share and TLP is expected
to grow at the highest pace.
The applications market is sub segmented into FPSO’s, TLP, SPAR, semi-submersible, and the upcoming
technologies such as FLNGs. The application FPSO occupies the major share of the market and the TLP is
estimated to see high growth rate during the forecast period. The harsh, rigid, and hurricane prone area in
the Gulf of Mexico makes TLP a popular choice for the installation on the tension leg platforms.
Furthermore, the world’s first FLNG, which is expected to enter the market in 2016 would drive the market
for mooring systems, particularly in the Asia-Pacific region.
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Single point mooring systems estimated to drive the mooring systems market with highest growth
On the basis of mooring types the following are the subsegments namely single point mooring, spread
mooring systems, tendon mooring, and dynamic positioning. Out of the mentioned, single point mooring
occupies the major share, which is due to the applications in the FPSO’s. Single point mooring allow the
vessels to weathervane and are capable of utilization in the mild to extreme offshore conditions. Dynamic
positioning is utilized in semi-submersibles and FPSOs, but is comparatively in their nascent stage of
Global leader in the mooring systems market by value for the next five years.
Recent discoveries of oil & gas in the offshore basins in Australia, Gulf of Thailand, and South China Sea
and high demand from China and India are expected to drive the exploration and production activities in
the region, thereby pushing the mooring systems in this region. Asia-Pacific is among the largest consumers
of oil & gas following North America. This demand will lead to more exploration and production in the
region. However, Africa is estimated to attract more investments due to liberal regulatory policies and is
expected to witness the highest growth.
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The mooring systems market, in terms of developments was dominated by Modec Inc. (Japan), Bluewater
Holding B.V. (Netherlands), Cargotec Corporation (Finland), Delmar Systems, Inc. (U.S.), and Timberland
Equipment limited (Canada) in 2014.