Rising Offshore Undertakings to Boost Demand for Offshore Mooring Systems in West Africa

San Francisco, California, Feb 05, 2016: A new market study by TMR Research states that the West Africa market for offshore mooring systems has been observing a remarkable rise in its valuation and is projected to continue witnessing high growth over the next few years. The study, titled “Offshore Mooring Systems Market (Type – Catenary, Taut Leg, Semi-taut, Spread, Single Point, and Dynamic Positioning; Application – Floating Production, Storage and Offloading (FPSO) Vessels, Floating Drilling, Production, Storage and Offloading (FDPSO) Vessels, Floating Liquefied Natural Gas (FLNG) Vessels, TLP, Semi-submersibles, and Spar Platforms; Anchorage – Drag Embedment Type Anchors, Suction Type Anchors, and Vertical Load Type Anchors) – West Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” provides an in-depth and unbiased evaluation of this market, considering its past and present performance. The market boosters, barriers, prominent trends, challenges, opportunities, and the growth potential in this market have also been assessed while conducting this research.

According to the research report, the West Africa market for offshore mooring systems is projected to flourish substantially in the coming years with the continual advancements in offshore undertakings across this region. The increasing number of offshore reserves for oil and gas is expected to turn the tables for the market for offshore mooring in West Africa over the next few years, establishing it as a lucrative industry for stakeholders. With the exploration and production undertakings becoming the crux of a number of industries, the demand for offshore mooring systems is anticipate to increase significantly in the near future, states the research report.

The market for offshore mooring systems in West Africa can be analyzed on the basis of the type, application, anchorage, and the geographical segmentation. Based on the type, the market can be classified into taut leg, catenary, semi-taut, single point, spread, and dynamic positioning. By application, the market can be divided into floating production, floating drilling, storage and offloading (FPSO) vessels, production, floating liquefied natural gas (FLNG) vessels, storage and offloading (FDPSO) vessels, TLP, spar platforms, and semi-submersibles. Based on anchorage, the market can be categorized into suction anchors, drag embedment anchors, and vertical load anchors.

In terms of the geography, Angola, Ghana, Gabon, D.R. Congo, Senegal, Mauritania, Guinea, and Equatorial Guinea, and Ivory Coast have been considered as the key segments of the West Africa market for offshore mooring systems. Angola, amongst these, has been showing high growth prospects. It reported an overall contribution to this market of US$45.1 mn in 2015, outdoing all the other regional markets. Researchers anticipate this regional market to remain o the top over the forecast period. Ghana, Gabon, and Ivory Coast are also expected to emerge as lucrative regional markets for offshore mooring systems in West Africa in the years to come, reports the research study.

The report also offers a detailed competitive assessment of the West Africa market for offshore mooring systems by evaluating the profiles of the leading companies on the basis of their existing and upcoming projects. FMC Technologies Inc., Trelleborg Marine Systems, BW Offshore Ltd., Grup Servicii Petroliere S.A., and Mampaey Offshore Industries B.V. are some of the leading vendors of offshore mooring systems in West Africa, reviewed in this research report.

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