Mooring Inspection

Mooring Inspection

Global Mooring Inspection Market to Reach US$537.3 Million by 2030

The global market for Mooring Inspection estimated at US$413.1 Million in the year 2023, is expected to reach US$537.3 Million by 2030, growing at a CAGR of 3.8% over the analysis period 2023-2030. Below Water Inspection (BWI), one of the segments analyzed in the report, is expected to record a 4.1% CAGR and reach US$386.1 Million by the end of the analysis period. Growth in the Above Water Inspection (AWI) segment is estimated at 3.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$109.6 Million While China is Forecast to Grow at 6.0% CAGR

The Mooring Inspection market in the U.S. is estimated at US$109.6 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$113.1 Million by the year 2030 trailing a CAGR of 6.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.4% and 2.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Global Mooring Inspection Market - Key Trends and Drivers Summarized

How Is Mooring Inspection Ensuring Offshore Safety?

Mooring inspection is a critical maintenance activity in offshore and maritime industries, aimed at ensuring the safety, reliability, and longevity of mooring systems used to anchor ships, floating production units, and offshore platforms. Mooring systems, which consist of chains, wires, and anchors, are essential for securing vessels and structures in position, especially in harsh marine environments. Regular inspection and maintenance of these systems help detect potential issues such as corrosion, fatigue, and mechanical wear, which could compromise the integrity of the mooring equipment and lead to safety risks or operational downtime. Mooring inspections involve a range of techniques, including visual inspections, nondestructive testing (NDT), and digital monitoring, to assess the condition of mooring lines, anchors, and connectors. The adoption of advanced inspection methods, such as remotely operated vehicles (ROVs) and underwater drones, has improved the accuracy and efficiency of inspections in deep-water environments. These advancements are crucial in ensuring the compliance of mooring systems with industry standards and regulatory requirements, ultimately minimizing the risk of accidents and failures in offshore operations.

What Trends Are Shaping the Mooring Inspection Market?

Several key trends are influencing the mooring inspection market, including the increasing complexity of offshore projects, technological advancements in inspection methods, and stricter regulatory requirements for safety. As offshore energy production extends into deeper waters, the need for reliable and effective mooring inspection solutions is growing. Complex projects, such as floating wind farms and deep-water oil drilling, demand robust mooring systems capable of withstanding harsh marine conditions. This trend has led to increased demand for advanced inspection techniques and technologies to ensure the structural integrity of mooring components. The integration of digital technologies, such as machine learning and data analytics, is transforming the mooring inspection landscape. These technologies enable predictive maintenance by analyzing inspection data to identify potential risks and schedule repairs before issues escalate. Additionally, the use of ROVs and autonomous underwater vehicles (AUVs) is gaining traction, offering safer and more cost-effective inspection solutions in challenging environments. Regulatory bodies are also playing a significant role in shaping the market by mandating regular mooring inspections and setting stringent standards for offshore safety.

How Do Market Segments Impact the Mooring Inspection Industry?

Inspection types include visual inspection, NDT, and digital monitoring, with NDT being widely used due to its ability to detect internal defects without damaging the equipment. Technologies used in mooring inspections encompass ROVs, AUVs, ultrasonic testing, and electromagnetic inspection, among others. The adoption of ROVs and AUVs is growing rapidly due to their ability to conduct inspections in deep waters and hazardous conditions. Applications of mooring inspection span the oil and gas industry, offshore wind energy, shipping, and marine infrastructure. The oil and gas sector is the largest application segment, as offshore drilling and production operations require robust mooring systems for stability and safety. Offshore wind energy is an emerging segment experiencing rapid growth, driven by the increasing number of floating wind farms that require reliable mooring solutions. Geographically, regions such as North America, Europe, and Asia-Pacific are key markets, driven by the presence of major offshore projects and stringent safety regulations.

What Factors Are Driving the Growth in the Mooring Inspection Market?

The growth in the mooring inspection market is driven by several factors, including the increasing scale of offshore energy projects, advancements in inspection technologies, and stringent regulatory requirements for safety. As offshore exploration and production extend into deeper waters, the demand for reliable mooring inspection solutions is rising to ensure operational safety. Technological innovations, such as the use of ROVs, AUVs, and data analytics, are enhancing inspection accuracy and efficiency, making them more attractive for the industry. Additionally, regulatory mandates for regular mooring inspections and adherence to safety standards are further propelling market growth, as companies prioritize risk mitigation and compliance.

Select Competitors (Total 37 Featured) -

• Aceton Group Ltd.
• Deep Sea Mooring
• Deepocean Group Holding Bv
• Delmar Systems, Inc.
• DOF Subsea
• Franklin Offshore Australia Pty Ltd.
• InterMoor
• JIFMAR Offshore Services
• Moffatt & Nichol
• Oceaneering International, Inc.
• Viking Seatech Ltd.
• Welaptega Marine Limited

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.