The Impact of the Different Market Factors on Mooring Inspection 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 to 2020", The global mooring inspection market is projected to reach USD 362.5 Million by 2020, 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.

Browse 34 market data Tables and 31 Figures spread through 100 Pages and in-depth TOC on "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 to 2020"

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.

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The major market players in mooring inspection market are Welaptega (Canada), Oceaneering International (U.S.), DeepOcean (Netherlands), Acteon Group (U.K.), Deep Sea Mooring (Norway), DOF Subsea (Norway), Moffatt & Nichol (U.S.), Delmar (U.S.), and other global players that are expanding their reach into the mooring inspection market considering the lucrative business opportunities. This market is mainly driven by some of the factors such as rising concerns towards increasing mooring safety and regulatory requirements driving scheduled inspection practices. Among the countries in the Middle East & Africa region, Angola, UAE, and Saudi Arabia are the largest prospects market for mooring inspection.

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.

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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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