PUBLISHER: The Business Research Company | PRODUCT CODE: 1676029
PUBLISHER: The Business Research Company | PRODUCT CODE: 1676029
Mooring systems encompass the equipment designed to anchor and secure FPSOs (floating production storage and offloading units) against the impactful forces exerted by waves, wind, and currents. These essential systems are pivotal in effectively mooring a ship to its berth, ensuring stability and resistance against external factors such as wind, currents, and other relevant forces. The primary function of mooring system lines is to provide a robust and reliable means of tethering the FPSO, safeguarding it from the dynamic environmental conditions it may encounter during its operational activities.
The primary types of mooring systems include taut leg, spread mooring, semi-taut, dynamic positioning, catenary, and single-point mooring. A taut leg system involves pre-tensioned mooring lines, with the mooring line terminated at an angle at the seabed through the taut leg mechanism. Typically set at an angle of 30 to 45 degrees, this system is particularly employed in deep-water environments and facilitates load sharing among adjacent mooring lines. Various anchorage options, such as drag embedment anchors (DEA), vertical load anchors (VLA), and suction anchors, are utilized, accommodating both shallow and deep-water applications. This mooring approach finds application in diverse maritime structures, including floating production storage and offloading (FPSO), tension leg platform (TLP), spar semi-submersible, and floating liquefied natural gas (FLNG) installations.
The mooring systems market research report is one of a series of new reports from The Business Research Company that provides mooring systems market statistics, including mooring systems industry global market size, regional shares, competitors with a mooring systems market share, detailed mooring systems market segments, market trends and opportunities, and any further data you may need to thrive in the mooring systems industry. This 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 mooring systems market size has grown steadily in recent years. It will grow from $1.89 billion in 2024 to $1.98 billion in 2025 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to offshore exploration expansion, renewable energy development, market entry of new players, global economic cycles, environmental awareness.
The mooring systems market size is expected to see strong growth in the next few years. It will grow to $2.47 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to offshore energy demand, global energy transition, infrastructure development, market competition, environmental considerations. Major trends in the forecast period include deepwater exploration, floating renewable energy, technological advancements, environmental regulations.
The rise in the exploration and production of oil and gas in offshore fields is expected to drive the growth of the mooring systems market in the future. Offshore oil and gas exploration involves techniques for identifying potential sites for extraction in challenging marine environments. The offshore industry is primarily responsible for designing multi-dependent mooring systems that secure installations against waves, water currents, and wind, especially in unstable and harsh deep-water settings. For instance, in June 2023, the Energy Information Administration, a US-based federal statistical and analytical agency, reported that global oil demand is projected to increase by 6% between 2022 and 2028, reaching 105.7 million barrels per day. Additionally, global upstream investments in oil and gas exploration, extraction, and production are expected to grow by 11% year-on-year, reaching a record USD 528 billion in 2023. Therefore, the rising exploration and production of oil and gas in offshore fields will significantly propel the mooring systems market.
The growing popularity of cruises is poised to drive the expansion of the mooring system market in the foreseeable future. Cruises, defined as vacations or journeys on cruise ships or liners, are large passenger vessels designed to provide a distinctive and enjoyable means of exploring diverse destinations. Mooring systems play a crucial role in safely anchoring cruise ships at ports and terminals. These systems, comprising a combination of ropes, lines, winches, and bollards, secure the vessel to the dock, preventing excessive movement and ensuring passenger safety during embarkation and disembarkation. As exemplified by data from April 2023, reported by the Cruise Lines International Association, a US-based trade association, the number of cruises taken by British and Irish holidaymakers surged to approximately 1.7 million, a substantial increase from the previous year's 479,000. This notable uptick underscores the correlation between the rising demand for cruises and the flourishing growth of the mooring system market.
Prominent players in the mooring system market are strategically concentrating on the introduction of advanced solutions, including automatic actuation systems, to gain a competitive advantage. Automatic actuation systems, integral components of machinery, generate controlled force, torque, or displacement in response to electrical, pneumatic, or hydraulic input. In April 2022, Gall Thomson, a UK-based oil field equipment company, unveiled PODx. This emergency mooring release system is tailored for diverse offshore applications such as FPSO (Floating Production Storage and Offloading) vessels and anchor handling vessels. PODx is engineered to swiftly and safely release mooring hawser chains under full tension, mitigating the risk of personnel injury and equipment damage. The system utilizes automatic actuation systems featuring release bolt technology, facilitating the automatic separation of mooring lines at a predetermined parting point.
Key players in the mooring system market are actively engaging in strategic partnerships as a focal point for gaining a competitive advantage. Strategic partnerships involve collaborative alliances between two or more organizations, with the shared objective of realizing mutual benefits and pursuing common goals. A notable example occurred in June 2023 when Seaflex, a Sweden-based provider of elastic mooring solutions, entered into a partnership with Blue Parameters, a UK-based environmental and sustainability firm. This collaboration aims to integrate Seaflex's elastic mooring component into the Mermaid K mooring system, representing a significant advancement in Advanced Sustainable Mooring Systems. The partnership underscores the growing significance and emphasis on long-term sustainability within the marine environment.
In September 2024, Delmar Systems AS, a US-based technology and mooring solutions company, acquired IKM Mooring Services for an undisclosed amount. Through this acquisition, Delmar Systems aims to expand its operational footprint in Norway, strategically strengthening its presence in the region's maritime industry. IKM Mooring Services is a Norway-based company specializing in providing expert mooring services and solutions for offshore and maritime operations.
Major companies operating in the mooring systems market include National Oilwell Varco, Timm AS, Cargotec Corporation, SBM Offshore, Trellborg India Private Limited, BW Offshore Limited, MacGregor, Lamprell ENERGY LIMITED, Usha Martin Limited, BMT Group Ltd, InterMoor, Cavotec S.A., Delmar Systems Inc, Lankhorst Ropes, Grup Servicii Petroliere, Bluewater Holding BV, Alfred Cheyne Engineering, Cortland Limited, Viking SeaTech, Offspring International Limited, Maritime International, Balltec Limited, First Marine International, Balmoral Group, Mampaey Offshore Industries, Timberland Equipment, Mooring System Inc, Vryhof, Wilhelmsen, Wartsila, Bridon-Bekaert, TEHO Ropes, Jiangsu Jinguang Industrial Group Co Ltd.
North America was the largest region in the mooring market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mooring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mooring systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mooring system market consists of sales of mooring lines, fenders, wire rope, fiber rope, and chain. 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.
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 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 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 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.