West Africa Offshore Mooring System Market It To Rise At A CAGR Of 4.90% During From 2015 To 2024

West Africa Offshore Mooring Systems Market: Overview

The market research study analyses Offshore Mooring Systems Market for West African region. It provides market estimates in terms of revenue expressed in US$ Million for a forecast period from 2015 to 2024. The report study thoroughly recognizes major drivers, restraints, key opportunities and analyses their impact on the market for the forecast period. The report provides in depth analysis of Porters Five forces and also identifies value chain of the offshore mooring systems market for the West African region.

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Offshore mooring systems assists anchorage of marine assets including vessels, barges, tugs and support vessels. Mooring is a permanent structure on which a vessel is secured or tied in. A mooring system collectively stalls free movement of a ship on water thus assisting it for its specific and desired use. Offshore mooring systems fixes the position of a vessel relative to a point on the sea-bed without any connection to shore. Mooring system includes anchors, mooring lines, shackles, steel/synthetic wires and chains. Vessel type and environmental conditions like wave / drifting forces, swell, wind & current forces determines component and equipment’s to be used in a particular mooring system.

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Recent fall and fluctuations in global crude oil prices has not deterred exploration activities in West Africa. The demand for energy, especially from exploration of oil and gas, is constantly on the rise. Major offshore production facilities are in Gabon, Angola, Ghana, Congo Brazzaville and Ivory Coast. New projects are also underway in this region which are expected to provide positive growth opportunities for the offshore mooring systems market. Most of the global major players in offshore mooring systems are entering West Africa offshore to expand market presence.

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.

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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.

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