Offshore Mooring Systems Market Insights Covering Market Dynamics and Competitive Scenario through 2024

Posted on 2018-04-13 by Mark Hub in Energy // 0 Comments

Albany, USA, 2018-Apr-13 — /EPR Network/ —In order to study the various trends and patterns prevailing in the overall market Offshore Mooring Systems, Market Research Reports Search Engine (MRRSE) has included a new report titled “Offshore Mooring Systems Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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The West Africa offshore mooring market is highly competitive, thanks to the presence of a large pool of players, finds a new research report by MRRSE. Innovation and technological advancements in mooring systems is the key strategy adopted by the leading companies looking to strengthen their position in this market. A shift in their focus towards mergers, acquisitions, and partnerships can also be observed over the next few years.

Grup Servicii Petroliere S.A., Mampaey Offshore Industries B.V., FMC Technologies Inc., BW Offshore Ltd., and Trelleborg Marine Systems are some of the prominent vendors of offshore mooring systems in West Africa, states the research report.

According to the market study, the overall opportunity in the West Africa offshore mooring system market was worth US$169.70 mn in 2015. Analysts expect it to rise at a CAGR of 4.90% during the period from 2015 to 2024 and reach a value of US$470.2 mn by the end of the period of the forecast. The demand for spread mooring systems is much higher than other products available in this market. The scenario is anticipated to remain same throughout the forecast period.

West Africa Offshore Mooring Systems Market to be Led by Angola

The report further present an exhaustive analysis of the West Africa market for offshore mooring systems on the basis of its geographical presence. As per the study, Mauritania, Senegal, Guinea, Ivory Coast, Ghana, Cameroon, Equatorial Guinea, Gabon, D.R. Congo, Angola, and Congo Brazzaville are the main geographical segments of the West Africa offshore mooring system market. Among these, Angola dominated the overall market in 2015 with a revenue contribution of US$45.1 mn. Researchers anticipate this domestic market to maintain its leadership over the period of forecast.

The markets for offshore mooring systems in Ghana, Gabon, and Ivory Coast are also projected to witness significant growth over the forthcoming years, thanks to the surging emphasis on energy conservation, increasing investments in their respective oil and gas industry, and the continued rise in exploration and production activities, notes the study.

Drag embedment, suction, and vertical load anchors are considered as the key type of anchors used in offshore mooring in this research report. With 30.7%, the drag embedment anchors segment led the West Africa offshore mooring systems market in 2015 and is expected to remain doing so over the next few years, states the report.

Need for Efficient Management of Marine Fuel to Boost Demand

“The increase in the demand for energy in West Africa despite fluctuating prices of oil has been the most prominent factor behind the growth of the offshore mooring systems market in this region,” says an analyst in MRRSE. As marine fuel cost accounts for a heavy portion of the vessel operating cost, the need for an efficient management of marine fuel has increased considerably. With offshore mooring systems being highly effective in monitoring, controlling, and reporting of marine fuel consumption, their demand is likely to augment remarkably in the oil and gas industry of West Africa in the near future, reflecting positively on this market.

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The technological advancement in mooring products is also projected to boost this market over the forecast period. However, the high cost of investments needed for exploration and production activities may hamper the market’s growth in the coming years, states the report.

West Africa Offshore Mooring Systems Market: Segmentation

Based on the type of mooring systems, the catenary, taut leg system, semi-taut system, single point mooring, spread mooring and dynamic positioning are also expected to augment the West African offshore mooring systems market.

Based on application of offshore mooring system, the market for West Africa is segmented into Floating Production, Storage and Offloading (FPSO) Vessels, Floating Drilling, Production, Storage and Offloading (FDPSO) Vessels, Floating Liquefied Natural Gas (FLNG) Vessels, Tension Leg Platform (TLP), Semi-submersibles, Spar platforms and others mooring systems.

Offshore mooring is utilized for renewable energy generation for offshore including wave and tidal energy. West African region is dominated by oil and gas exploration, renewable energy sites are under survey stage and are set to get momentum during the forecast period.

West Africa Offshore Mooring Systems Market: Competitive Analysis

The forecast period considered in the report is from 2015 to 2024 wherein strategic analysis of the offshore mooring systems for West Africa has been provided. The report has been segmented by type, application, anchorage and country for the forecast period. Leading players in the offshore mooring systems market have been profiled with the market strategies adopted by them, company overview, financial overview, business segments, strategies and developments.

The company’s included, but not limited to, are: SBM Offshore N.V., MDEC, Inc., Grup Servicii Petroliere S.A, Mampaey Offshore Industries B.V, FMC Technologies Inc., BW Offshore Ltd., Trelleborg Marine Systems, Timberland Equipment Ltd., Mooring Systems Inc., and Delmar Systems, Inc.

The report segments the West Africa offshore mooring market as:

By Type

Catenary
Taut Leg
Semi-taut
Spread
Single Point
Dynamic Positioning

By Application

Floating Production, Storage and Offloading (FPSO) Vessels
Floating Drilling, Production, Storage and Offloading (FDPSO) Vessels
Floating Liquefied Natural Gas (FLNG) Vessels
TLP
Semi-submersibles
Spar platforms
Others

By Anchorage

Drag Embedment Type Anchors
Suction Type Anchors
Vertical Load Type Anchors

By Country

Mauritania
Senegal
Guinea
Ivory Coast
Ghana
Cameroon
Equatorial Guinea
Gabon
R. Congo
Angola
Congo Brazzaville

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