Global Mooring Inspection Market is segmented By Type (Below Water Inspection, Above Water Inspection), By Technology (Close Visual Inspection (CVI), Magnetic Particle Inspection (MPI), Ultrasonic Testing (UT), Electromagnetic Detection, Mooring Line Dimension Measurement), By Application (Oil and Gas Industry, Aquaculture, Marine, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Mooring Inspection Market Overview
230 pages report analyses the Global Mooring Inspection Market is expected to reach at a high CAGR during the forecast period 2023-2030. Global Mooring Inspection Market size, shares, recent trends, competitive intelligence, and future market outlook. Demand from Oil and Gas Industry, Marine, Aquaculture in North America is rising. Competitive rivalry intensifies with Welaptega, Deep Sea Mooring, Moffatt & Nichol and others operating in the market.
A mooring system comprises a mooring line, anchor, and connectors used to keep a ship or floating platform. However, moorings are structurally complex systems subject to deterioration in harsh dynamic subsea environments, making accurate measurements a major undertaking. In this scenario, mooring inspection helps to identify wear caused due to friction on adjacent line components at connecting links, fatigue damage, abrasion, corrosion, excessive tension. Technology such as advanced optical/mechanical metrology and NDT tooling technology provides the accuracy and expertise needed to mitigate risk, forestall failure and manage the ongoing integrity of the mooring system.
Mooring Inspection Market Scope
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Type, By Technology, By Application and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Mooring Inspection Market Trends
Increasing offshore oil and gas services is expected to drive the mooring inspection market
In offshore oil and gas, different types of operating vessels such as floating production systems and mobile offshore drilling units are used. These operating vessels are required to be moored to keep them stable in all water depths. As per Rystad Energy, spending on offshore oilfield services rose by 6% in 2019, reaching $208 billion, before surging by another 14% in 2020.
Henceforth, increasing offshore oil and gas is expected to drive the mooring inspection market over the forecast period.
Technological advancement in mooring inspection system is expected to drive its market
Advanced optical or mechanical metrology and NDT tooling technology have been introduced and are used to mitigate risk, forestall failure, and manage the ongoing integrity of offshore operations. For instance, Ashtead Technology Company provides bespoke, robust optical and mechanical metrology tools for use in harsh subsea environments, deployable by ROV.
Moreover, techniques for offshore structures are increasingly automated, trending towards simultaneous multiple-sensor inspection passes. This eliminates the need for human intervention.
Mooring Inspection Market Segmentation Analysis
Based on technology, mooring inspection market is segmented into Close Visual Inspection (CVI), Magnetic Particle Inspection (MPI), Ultrasonic Testing (UT), electromagnetic detection and mooring line dimension measurement.
Close Visual Inspection (CVI) is expected to dominate the market owing to its reliability in inspection process
A Close Visual Inspection (CVI) is conducted on nominated areas for detailed inspection requirements. A CVI is recorded using high-definition video. In CVI, cleaning is done using HP water cleaning, a wire brush or grit blasting to achieve a bright metal finish. It is used for inspecting welds, corrosion and cracking.
It is the most reliable inspection technique and is commonly used in the mooring inspection process. It can be used for both above and below water inspection. In the below water inspection, both ROV and the diver can perform CVI to detect any failure in mooring systems.
Global Mooring Inspection Market Geographical Analysis
Based on geography, the mooring inspection market is classified into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa.
North America dominates the mooring inspection market led by many operational rigs in the Gulf of Mexico. For instance, as per U.S. Energy Information Administration (EIA), In 2019, offshore oil and natural gas production in the Gulf of Mexico accounted for about 15% of total U.S. crude oil production and about 3% of total U.S. dry natural gas production.
Besides, Europe is a significantly large market for mooring inspection due to the offshore operations in the North Sea. However, the Middle East and Africa and Southeast Asia are expected to extend attractive opportunities to the mooring inspection market owing to the increasing number of offshore operations in the Persian Gulf and Bengal Basin.
Mooring Inspection Market Companies and Competitive Landscape
The mooring inspection market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Acteon Group Ltd., Welaptega, Oceaneering International, DeepOcean, Acteon Group, InterMoor, Deep Sea Mooring, DOF Subsea, Moffatt & Nichol, Ashtead Technology Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Mooring Inspection market globally.
Acteon Group Ltd.
Overview: Acteon Group Ltd. is an integrated subsea services company such as installing, maintaining and removing marine infrastructure. The company is headquartered in Norwich, England.
Product Portfolio: The company provides integrated mooring integrity service, including chain inspection, mooring line repair, mooring system data management and analysis, procedure and plan development
Key Developments:
- In June 2019, Acteon Group Ltd. has completed the acquisition of geosciences survey company TerraSond. TerraSond, headquartered in the US, is a multidisciplinary geospatial and geophysical company.
The global mooring inspection market report would provide an access to an approx. 61 market data table, 53 figures and 230 pages.
