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The rise in the exploration and production of oil and gas in offshore fields are expected to drive innovation in mooring systems manufacturing, thus driving the market during the forecast period.

The global mooring systems market is expected to grow from $1.72 billion in 2022 to $1.81 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The mooring system market size is expected to reach $2.18 billion in 2027 at a CAGR of 4.6%.

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Global Mooring Systems Market Segments Include:

• By Type:Taut Leg, Spread Mooring, Semi Taut, Dynamic Positioning, Catenary, Single Point Mooring
• By Anchorage:Drag Embedment Anchors (DEA), Vertical Load Anchors (VLA), Suction Anchors
• By Depth Type:Shallow Water, Deepwater
• By Application Type:Floating Production Storage and Offloading (FPSO), Tension Leg Platform (TLP), SPAR, Semi-Submersible, Floating Liquefied Natural Gas (FLNG)
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global mooring systems market in 2021.

Major Market Players in the mooring systems market include Cavotec, Bluewater Holding BV, Cargotec Corporation, Delmar Systems Inc., Lamprell, SBM Offshore, BW Offshore Limited, Grup Servicii Petroliere.

Technological advancements are a key trend gaining popularity in the mooring system market. Major companies operating in the mooring system market are focused on advancing towards automation and automated vacuum mooring solution that uses hands-free method and reduces the docking time of ships by mooring them faster. For instance, in November 2020, Cavotec, a Switzerland-based manufacturer of connection and electrification solutions, launched MoorMaster NxG, an automated vacuum mooring technology. This mooring system creates increased loading and offloading productivity for ports and enhances the way ships enter and leave ports by enabling them to reduce mooring times to less than 30 seconds, saving fuel, lowering emissions, and strengthening port productivity.

The Mooring Systems Global Market Report 2023  provides a mooring systems market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The mooring systems market forecast analyzes mooring systems market size, mooring systems market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The mooring systems refers to the equipment that secures FPSOs (floating production storage and offloading unit) against the forces of waves, wind, and currents. The primary purpose of mooring system lines is to secure a ship to its berth against the forces of the wind, current, and other forces.

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