PUBLISHER: The Business Research Company | PRODUCT CODE: 1661937
PUBLISHER: The Business Research Company | PRODUCT CODE: 1661937
Offshore mooring systems are specifically designed to secure boats by tying them to submerged anchoring points positioned away from the dock or shoreline. These systems play a crucial role in positioning and stabilizing floating production and storage units in offshore operations.
The offshore mooring systems domain include various types such as single-point mooring, taut leg system, semi-taut leg system, spread mooring, dynamic positioning, and others. Single point mooring involves a floating buoy anchored offshore, facilitating the handling of liquid cargo. Anchoring methods encompass suction anchors, vertical load anchors, drag embedment anchors, among others, catering to operations in shallow and deep water. These mooring systems find applications across floating production storage and offloading, floating liquefied natural gas, spar platforms, tension leg platforms, semi-submersible platforms, and various other offshore setups.
The offshore mooring systems market research report is one of a series of new reports from The Business Research Company that provides offshore mooring systems statistics, including offshore mooring systems industry global market size, regional shares, competitors with an offshore mooring systems market share, detailed offshore mooring systems market segments, market trends, and opportunities, and any further data you may need to thrive in the offshore mooring systems industry. This offshore mooring systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The offshore mooring systems market size has grown steadily in recent years. It will grow from $1.79 billion in 2024 to $1.86 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to deepwater exploration and production, rise in offshore wind energy projects, increase in floating production systems, focus on safety and environmental protection, government initiatives for offshore development, globalization of offshore exploration, rapid development of offshore infrastructure.
The offshore mooring systems market size is expected to see strong growth in the next few years. It will grow to $2.28 billion in 2029 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to emergence of floating solar farms, focus on reducing carbon footprint, enhanced monitoring and control systems, focus on predictive maintenance, floating production storage and offloading (FPSO) dominance, expansion of floating LNG facilities. Major trends in the forecast period include technological advancements in mooring designs, dynamic positioning systems, advancements in offshore drilling technologies, pre-laid mooring systems, integration of automation and robotics, strategic partnerships and collaborations.
The growing demand for energy is anticipated to drive the growth of the offshore mooring systems market in the coming years. Energy refers to the electricity and power generated from natural resources. Offshore mooring systems are essential for floating wind systems, as they enhance energy extraction and optimize the production and transmission of power through cables and umbilicals. Consequently, the rising demand for energy is leading to increased requirements for offshore mooring systems. For example, in July 2024, the International Energy Agency, an autonomous intergovernmental organization based in France, projected that global electricity demand would rise by about 4% in 2024, compared to a 2.5% growth rate in 2023. Thus, the escalating demand for energy is propelling the growth of the offshore mooring systems market.
The depletion of oil reserves is expected to stimulate growth in the offshore mooring systems market in the future. Depleting oil reserves refer to the gradual decline or exhaustion of economically viable and recoverable quantities of crude oil and petroleum in specific oil fields or regions. Offshore mooring systems are vital for enhancing the extraction process and operational efficiency of oil platforms as oil reserves diminish. For example, in April 2024, the U.S. Energy Information Administration, a government agency in the United States, reported that U.S. natural gas proved reserves increased by 10%, rising from 625.4 trillion cubic feet (Tcf) at the end of 2021 to 691.0 Tcf at the end of 2022, marking a new record for the second consecutive year. Therefore, the depletion of oil reserves is driving the growth of the offshore mooring systems market.
Technological advancements are a significant trend gaining traction in the offshore mooring systems market. Leading companies in this sector are focusing on creating innovative technological solutions to enhance their market position. For example, in July 2024, Blackfish Engineering, a UK-based manufacturing firm, launched the C-Dart mooring system, which removes the necessity for operational personnel to manage heavy mooring lines. This system is designed to quickly connect various floating structures-such as wave and tidal energy converters, offshore wind farms, floating solar platforms, and aquaculture-by utilizing gravity, buoyancy, and rope tension to facilitate an automated, contact-free connection process. Its rapid connect and disconnect capabilities significantly reduce offshore operational time, thus lowering overall costs and downtime in renewable energy projects. Constructed from high-tensile, corrosion-resistant materials, the C-Dart system is engineered to withstand harsh ocean conditions, extending its service life while minimizing maintenance requirements.
Major players in the offshore mooring systems market are launching innovative systems like automatic actuation systems, focusing on safety measures during emergencies. For instance, in April 2022, Gall Thomson introduced PODx, an automatic actuation system designed to enhance safety in FPSO tandem offloading and offshore operations. This system remotely releases mooring hawser chains under full load within milliseconds, reducing risks to personnel and equipment. Its design allows for easy reset and reusability after activation, contributing to cost-effectiveness and safety for operators.
In January 2024, Yinson Holdings Bhd, a Malaysia-based integrated service provider, acquired London Marine Group for an undisclosed amount. This acquisition aims to enhance Yinson's capabilities in delivering innovative solutions for the oil and gas industry, specifically in the realm of offshore production vessels. London Marine Group Limited (LMG), a UK-based marine service company, specializes in designing offshore mooring systems.
Major companies operating in the offshore mooring systems market are Blue Water Energy LLP, MODEC Inc., Lamprell Plc., SBM Offshore NV, Baltec System Pvt Ltd., FMC Technologies Inc., Rigzone Mooring Systems, Mooring Systems Inc., Offspring International Limited, Mampaey Offshore Industries, Delmar Systems Inc., Trelleborg Marine Systems India Pvt. Ltd., Viking SeaTech, Balmoral Comtec Ltd., Grup Servicii Petroliere, SOFEC INC., Intermoor Inc., NOV Inc., Timberland Equipment Ltd., KTL Offshore Pte Ltd., Scana Industrier ASA, Moorsure Mooring Systems Solutions Pty Ltd., De Haan Mussel Kanaal, Advanced Production and Loading, Multinational Craig Energy Services, Lamprell Energy, LHR Services & Equipment Inc., Ocean Power Technologies Inc., Other Lab Inc., Triton Systems
Asia-Pacific was the largest region in the offshore mooring systems market share in 2024. The regions covered in the offshore mooring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the offshore mooring systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The offshore mooring systems market consists of sales of internal turret mooring, external turret mooring, and disconnectable turret mooring systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Offshore Mooring Systems Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on offshore mooring systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for offshore mooring systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The offshore mooring systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.