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Navigating the Growing Mooring Inspection Market: Trends and Opportunities

by Press Room


 


(EMAILWIRE.COM, May 10, 2023 ) Mooring inspection involves inspecting the chains, anchors, and ropes that keep ships and other marine vessels secure at docks and ports. The market for mooring inspection services is driven by the growth in the global shipping industry, as well as the increasing need for regular maintenance and inspection of mooring systems to ensure safety and prevent accidents. The report cites factors such as the increasing demand for energy, the rise in offshore oil and gas exploration activities, and the growth of the maritime industry as driving factors for the market.

The report “Mooring Inspection Market by Type (BWI, AWI), Technology (CVI, MPI, UT, Electromagnetic Detection, Mooring Line Dimension Measurement, Others), Region (APAC Latin America, North America, Middle East & Africa, Europe) – Global Forecast”, The global mooring inspection market is projected to reach USD 362.5 Million by upcoming year, growing at a CAGR of 3.4%. The market is growing due to regulatory requirements and escalated awareness regarding the necessity of an inspection process in the oil & gas industry.

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CVI (Close Visual Inspection) segment is the biggest technology segment

Among the applications, the CVI technology segment held the largest share of the mooring inspection market in 2014. This technology segment is also projected to be the fastest-growing application segment of the mooring inspection market between 2015 and 2020 due to its reliability as compared to other technologies.

BWI segment dominates the type segment in the mooring inspection market

Based on the type of mooring inspection services, the mooring inspection market has been segmented into below water inspection (BWI) and above water inspection (AWI).
BWI is the largest segment of the market because of the higher inspection cost compared to AWI; underwater inspection requires sophisticated equipment, diving experts, and risk-based assessment of mooring components.

Browse in-depth TOC on “Mooring Inspection Market”

34 – Market Data Tables

31 – Figures

100 – Pages

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Asia-Pacific is the biggest geographical market segment

Asia-Pacific was the largest market for mooring inspection in 2014. The rising demand for energy has led to increased offshore oil & gas production in the region as offshore oil & gas production sites are critical in balancing the demand supply ratio. This has consequently resulted in the growth of the mooring inspection market in the region.

The global mooring inspection market has been growing at a moderate pace owing to the increasing demand from offshore oil & gas industry. Welaptega (Canada), Oceaneering International (U.S.), DeepOcean (Netherlands), Acteon Group (U.K.), Deep Sea Mooring (Norway), DOF Subsea (Norway), Moffatt & Nichol (U.S.), and Delmar (U.S.) are the leading players in this market.

These companies are investing substantially in the global mooring inspection market. They are also been focusing on new product launches, mergers & acquisitions, and expansions to cater to the increasing demand for mooring inspection across varied industry verticals. Oceaneering International (U.S.), DeepOcean (Netherlands), and Moffatt & Nichol (U.S.), reported the maximum number of developments in the global mooring inspection market between 2010 and 2016. These companies have enhanced their production capacities to strengthen their foothold in the market.

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In 2014, Deep Sea Mooring expanded its global footprint by opening a new office in Perth, Australia. The facility is targeted towards providing technical and sales support to potential clients across Australia. This development will help the company to tap opportunities in the Australian offshore oil & gas industry.

In November 2015, Welaptega Marine Limited and Delmar Systems, Inc. launched R4 grade subsea connectors, which has an increased load capacity of up to 2,400 kips compared to the former R3 version. The R4 connectors can be used for both temporary and permanent moorings. This development has marked another breakthrough for high MBL (Minimum Breaking Load) mooring systems from Delmar.

DOF Subsea operates an international business of modern fleets, which are equipped with a technology that reduces fuel consumption as well as emission. The company combines its technology and expertise to provide integrated subsea solutions to the offshore oil & gas industry. It increased its workforce by 23% in 2013 owing to the growing business opportunities in the oil & gas industry. In January 2013, a DOF academy was established for the development of employees’ competencies, and to help build the company’s capabilities with regards to the ever-changing requirements of customers.

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