Global Mooring Inspection Market – Industry Trends and Forecast to 2029

Global Mooring Inspection Market, By Type (Below Water Inspection (BWI) Mooring Inspection, Above Water Inspection (AWI) Mooring Inspection), Technology (Close Visual Inspection, Magnetic Particle Inspection, ROV Based Measurement, Ultrasonic Testing, 3-D Modelling, Optical Chain Measurement Systems, Rope Measurement Systems, Electromagnetic Detection, HD 3-D Videos, Subsea Chain Measurement Caliper, Mooring Line Dimension Measurement), Application (Natural Gas Industry, Oil Industry, Robotics, Aquaculture, Others) – Industry Trends and Forecast to 2029

Mooring Inspection Market Analysis and Size

Mooring anchoring systems are critical to the safe operation of offshore loading systems. Thus, the dependability of mooring components is critical to ensuring breakage-free operations throughout the facility's entire service life. In offshore operations, mooring inspection is performed on a regular basis to ensure the integrity of mooring components.

Data Bridge Market Research analyses that mooring inspection market was valued at USD 379.19 million in 2021 and is expected to reach the value of USD 518.95 million by 2029, at a CAGR of 4.00% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

A mooring system consists of a mooring line, an anchor, and connectors used to secure a ship or floating platform. Moorings, on the other hand, are structurally complex systems that deteriorate in harsh dynamic subsea environments, making accurate measurements a major undertaking. Mooring inspection aids in identifying wear caused by friction on adjacent line components at connecting links, fatigue damage, abrasion, corrosion, and excessive tension in this scenario. Advanced optical/mechanical metrology and NDT tooling technology provide the accuracy and expertise required to mitigate risk, prevent failure, and manage the mooring system's ongoing integrity.

Global Mooring Inspection Market Dynamics

Drivers

• The growing need for safe and secure onshore and offshore operations

The market is being driven by the growing importance of detecting mooring defects for safe and secure onshore and offshore operations. Mooring inspection aids in the detection of mooring defects such as fatigue, erosion, corrosion, and mechanical overload. Monitoring and inspection techniques in place can ensure the mooring facility's reliability throughout its entire lifespan. The government's strict regulations on scheduled inspection and maintenance of mooring equipment for all vessels of different design and construction date are driving the growth of the global mooring inspection market. The goal of these regulations is to prevent accidents or incidents caused by mooring onshore or offshore.

• Constant development in technologies

Technologies that can detect mooring line failure by monitoring a vessel's offsets are also being developed. The market will benefit greatly from the development of such technologies. Significant challenges in cost management and increasing efficiencies, as well as the need to integrate the complexity of mooring operations with technological innovations, will drive market growth.

Opportunity

The growing demand for real-time monitoring of mooring systems, both for tracking conditions and for deployment, is boosting global market growth. The mooring inspection system assists in detecting damages, thereby helping to enhance production and maintenance. This also significantly reduces downtime. As a result, the global mooring inspection market will benefit in the near future.

Restraints

The falling cost of oil will impede market growth, while a lack of reliable mooring tension monitoring systems and a lack of financial support to expand advanced inspection technology will pose a challenge to the mooring inspection market during the forecast period.

This mooring inspection market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the mooring inspection market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact Mooring Inspection Market

Companies that are aggressively adding capacity to meet the short-term COVID-induced demand must exercise caution when analysing these unprecedented demand patterns. Post-pandemic changes in social, economic, trade, and political conditions, as well as expected environmental regulatory reforms, will shape the future of the Mooring Inspection Market industry from 2021 to 2025. During COVID 19, the mooring inspection market reported mixed results for various applications and geographies. The study identifies the pandemic's segment-specific implications and provides various case scenarios illustrating the Mooring Inspection Market's growth prospects through 2028.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Mooring Inspection Market Scope

Mooring inspection market is segmented on the basis of type, technology and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type  

• Below Water Inspection (BWI) Mooring Inspection
• Above Water Inspection (AWI) Mooring Inspection

Technology

• Close Visual Inspection
• Magnetic Particle Inspection
• ROV Based Measurement
• Ultrasonic Testing, 3-D Modelling
• Optical Chain Measurement Systems
• Rope Measurement Systems
• Electromagnetic Detection
• HD 3-D Videos
• Subsea Chain Measurement Caliper
• Mooring Line Dimension Measurement

Application

• Natural Gas Industry
• Oil Industry
• Robotics
• Aquaculture
• Others

Mooring Inspection Market Regional Analysis/Insights

Mooring inspection market is analysed and market size insights and trends are provided by country, type, technology and application as referenced above.

The countries covered in the mooring inspection market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the mooring inspection market because of the prevalence of large off-shore operations in the North Sea. The Asia-Pacific region is expected to grow from 2022 to 2029 as a result of water inspection and the presence of major market players in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Mooring Inspection Market Share Analysis

Mooring inspection market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mooring inspection market.

Some of the major players operating in mooring inspection market are:

• DELMAR SYSTEMS & VRYHOF (U.S.)
• Mooring Systems Solutions Pty Ltd. (Australia)
• Blue Water Energy LLP. (U.K.)
• AMOG Consulting. (Australia)
• MODEC, Inc. (Japan)
• Offspring International Limited (U.K.)
• Mampaey Offshore Industries B.V. (Netherlands)
• B.W. Offshore (Norway)
• Maharashtra Industries Directory (India)
• K.T.L. Offshore Pte. Ltd. (Singapore)
• S.B.M. Offshore. (Netherlands)
• Oceaneering International, Inc. (U.S.)
• Moffatt & Nichol and JIFMAR Offshore Services (U.S.)
• Franklin Offshore Australia Pty Ltd. (Australia)