Automated Mooring System Market In-depth Forecast Study Highlights Growth in CAGR% and Revenue (US$M

Published: Tue Jul 23 2019

The automation plays pivotal role in the marine industry. The incorporation of the automation process is critical for expansion of port operations and to sustain growth.  The automated mooring system reduces manhandling of any equipment and, thereby minimizing the need of total manpower. Additionally, these automated mooring system can be controlled via radio remote control from shore or on-board the ship. Moreover, the automated mooring system also eliminates the non-productive berth areas at the end of quay and in-between ships.

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The Global Automated Mooring System Market is largely driven by demand from oil & gas industry. Additionally, increasing investments in emerging economies with proven oil & gas reserves is anticipated to escalate the automated mooring system demand in the near future.

Automated Mooring System Market - Dynamics

The demand for automated mooring system market is highly augmented with increasing demand of efficient and safe operations. The shifting preference towards using technologically advanced systems in order to enhance the drilling capability in both deep, as well as ultra-deep water, is likely to fuel the demand of automated mooring system. The Automated Mooring System offers improved cargo handling operations, reduced waiting time (thereby, resulting into shorter port stays) and efficient terminal utilization. Additionally, the installation of automated mooring system also require deployment of less personnel (max. 2) for smooth operation. Moreover, increasing subsea exploration and production activities in Latin America and Middle East and Africa region is further likely to contribute towards the growing demand for Automated Mooring System.

One of the major factor hampering the sale of automate mooring system market is high initial installation cost and maintenance cost.

Automated Mooring System Market - Segmentation

The global automated mooring system market can be segmented on the basis of system type, application, anchorage and depth. Based on system type, automated mooring system market can be segmented into catenary, taut leg, semi taut, dynamic positioning, single point and spread.

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Based on application, the automated mooring system market can be segmented into floating production storage and offloading (FPSO), floating LNG (FLNG), tension leg platform (TLP), spar, semi-submersibles and other applications. On the basis of anchorage type, the global automated mooring system market can be further segmented into drag embedment anchors, vertical loaded anchors and suction. On the basis of depth, the global automated mooring system market can be further segmented into ultra-deep/ deep and shallow.

The catenary automated mooring system is largely used in shallow waters. The single point automated mooring system is widely used for floating production storage and offloading application. The FPSO is estimated to hold lion’s share in the global automated mooring system market. However, the tension leg platform is likely to witness significant growth during the forecast period. The dynamic positioning automated mooring system are in its introduction phase and are used in semi-submersibles and FPSO application.

Automated Mooring System Market – Regional Outlook

Geographically, the global automated mooring system market can be segmented into North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ) and Middle East and Africa (MEA). Asia Pacific region, spearheaded by India and China, is anticipated to witness significant growth in global automated mooring system market throughout the forecast period. The discoveries of oil & gas in offshore of Australia, South China Sea etc. is anticipated to escalate the demand for these automated mooring system. Moreover, North America is anticipated to hold the lion’s share in the global automated mooring system market. The rising demand for energy is likely to escalate the drilling activities and subsea exploration in near future. Europe region is expected to witness considerable growth owing to entry of new market players in this region coupled with growing water exploration investments. Additionally, owing to liberal regulatory policies in Africa, this region is likely attract more investment in near future

Automated Mooring System Market – Key Participants

Some of the prominent players engaged in Automated Mooring System market are as mentioned below: Cavotec SA, Trelleborg Marine Systems FZE, TTS Group ASA, MacGregor (Cargotec Corporation), C-Quip Limited, ZAD Marine

The research report presents a comprehensive assessment of the Automated Mooring System market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Automated Mooring System market report provides analysis and information, according to market segments such as geographies, system type, application, anchorage and depth.

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