Mooring Systems Market Analysis | 2024-2030

Market Insights

The mooring systems market was estimated at USD 1.5 billion in 2023 and is likely to grow at a CAGR of 4.93% during 2024-2030 to reach USD 2.09 billion by 2030.

Want to know more about the market scope? Register Here

Market Dynamics

Introduction

Mooring systems are critical components used to anchor and stabilize floating structures such as ships, offshore platforms, and floating wind turbines. These systems ensure secure positioning in various water depths and environmental conditions, resisting forces from currents, waves, and winds. A mooring system typically consists of anchors, mooring lines, and connectors, designed to balance strength, flexibility, and durability. They play a vital role in marine and offshore industries, enabling safe operations, especially in challenging environments like deepwater or harsh weather. Advanced mooring technologies now focus on efficiency, sustainability, and adaptability to meet the demands of modern offshore energy and exploration activities.

Market Drivers

The key drivers fueling the market are fast technological developments enhancing the drilling and production capability of rigs and vessels that help in exploration and production activities in the deep-water and ultra-deep-water areas, globally.

Want to have a closer look at this market report? Click Here

Key Players

The following are the key players in the mooring systems market:

• Modec Inc.
• Bluewater Holding B.V.
• Cargotec Corporation
• Delmar Systems, Inc.
• Timberland Equipment limited.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Segment Analysis

By Depth Type

"Deepwater segment held the larger share of the market in 2023, and is expected to remain dominant during the forecast period"

Based on the depth type, the market is segmented as shallow water and deep/ultra-deepwater. The deepwater segment held the larger share of the market in 2023, and is expected to remain dominant during the forecast period.

By Anchorage Type

"Vertical load anchors’ segment led the market, accounting for more 25% share of the total revenue in 2023"

Based on the anchorage type, the market is segmented as drag embedment anchors, suction anchors, and vertical load anchors. The vertical load anchors’ segment led the market, accounting for more 25% share of the total revenue in 2023. The segment is estimated to maintain its leading position during the forecast period as well.

By Application Type

"FPSO segment holds the major share of the market and is likely to dominate the market during the forecast period"

Based on the application type, the market has been segmented as Floating Production, Storage and Offloading (FPSO), SPAR platforms, Tension Leg Platform (TLP), Floating Liquefied Natural Gas (FLNG), and SPAR, Semi-Submersible. The FPSO segment holds the major share of the market and is likely to dominate the market in the coming five years.

By Mooring Type

"Single point mooring segment occupies the major share of the market during the forecast period"

Based on mooring type, the market is segmented as single point mooring, spread mooring systems, tendon mooring, and dynamic positioning. Out of the mentioned, the single point mooring segment occupies the major share. Single point mooring lets the vessels to weathervane and are capable of utilization in the mild-to-extreme offshore conditions. On the other hand, dynamic positioning is utilized in semi-submersibles and FPSOs, but is comparatively in its embryonic stage of development.

Regional Analysis

"Asia-Pacific is estimated to lead the mooring systems market during the forecast period"

In terms of regions, Asia-Pacific is estimated to lead the mooring systems market during the forecast period. Africa is expected to provide lucrative growth opportunities due to liberal regulatory policies and is expected to witness the highest growth. China and India are the major growth engines of the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Know the high-growth countries in this report. Register Here

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s mooring systems market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The mooring systems market is segmented into the following categories:

By Depth Type

• Shallow Water 
• Deepwater 

By Anchorage Type

• Drag Embedment Anchors (DEA) 
• Vertical Load Anchors (VLA) 
• Suction Anchors 

By Application Type

• Floating Production Storage & Offloading (FPSO) 
• Tension Leg Platform (TLP) 
• SPAR, Semi-Submersible 
• Floating Liquefied Natural Gas (FLNG) 

By Mooring Type

• Single Point 
• Spread Mooring 
• Dynamic Positioning 
• Tendon 

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Click Here, to learn the market segmentation details.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the mooring types by application type.   

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.