The offshore mooring market has taken giant strides forward in the last couple of decades. Progress in technology and advances made in the mooring industry have catered to the demand for floating production storage & offloading (FPSOs) and production facilities for very deep-water projects. The emergence of new technologies is replacing the conventional technology that uses temporary anchors with synthetic mud ropes that have become a benchmark in oil & gas market. The main factors that have boosted the growth of the offshore mooring market include, advancements made in technology, growing applications of offshore mooring in FPSOs and semi submersibles. In addition, increasing demand for energy, clean electricity and the maturity of onshore oil and gas fields also contribute towards the growth of the offshore mooring industry. A recent report published by Allied Market Research offers useful insights related to the offshore mooring market such as the market share, size and growth. It highlights the current trends, growth opportunities and technological advancements within the market.

Offshore Mooring in Marine Renewable Energy
Marine renewable energy (MRE) is gradually advancing from single device units to device arrays. In the current scenario, mooring/foundation technology that is used in MRE is based on offshore oil and gas industry practices. There are several problems that need to be addressed before the commercialisation of MRE assays. The goal of a mooring system is to offer offshore equipment with a means of station keeping that is vulnerable to environmental loading, impact and operational procedures. The MRE devices sector is a relatively new application with pinpoint requirements and challenges. The Research Councils UK Energy Programme Strategy Fellowship revealed that there is a significant need to develop cost-effective MRE foundations and support structures. The main challenge that the mooring industry will face is offering robust and economical mooring and foundation systems for multiple array devices for a lifetime project.

Technology advancements have certainly made a strong impact in the offshore mooring market. The designs and certification of offshore agencies structures is carried out in sync with the guidelines and protocols laid out by certification agencies. The functional and operational cost of the foundation system affects the overall feasibility of the entire project. The advancements of offshore mooring systems are directly linked to the trend of oil and gas exploration in deep waters and forcing a departure from fixed to floating structures. The design goals in the MRE industry based on concepts that are likely to be placed in different water depths (shallow to deep). The current offshore industries have plenty of knowledge to offer and often indicate the need to be modified for the MRE industry. Under regular circumstances, there is a solid coupling between the mooring system responses and the device and large, resonant motions can occur. Wave energy converters (WECs) are designed to maximise the extraction of power under conditions in one or more than one modes of motion. Hence, the mooring and the anchoring systems of WECs need to be highly durable to withstand cyclic loading and important peal loads. In the offshore industry, catenary and taut moored systems are used on a large-scale especially for floating production storage and offloading (FPSO), floating production storage (FPS). In addition, they are also used in Single Point mooring and Reservoir (SPAR) and Catenary Anchor Leg Mooring (CALM) structures. The industry has a long way to go to as far as technology is concerned and research and development activities will continue to create new opportunities for the offshore mooring company.

The offshore mooring market will witness a steady growth in the next few years. The factors that are driving the market include increase in demand for energy, clean electricity and maturity of onshore oil and gas fields. Moreover, the growing popularity of FPSOs and FLNGs will also have a strong impact on the market. Technological advancements will boost market growth along with the onset of new and advanced mooring techniques. In the current scenario, FPSOs has been widely adopted in offshore mooring owing to high demand for energy. The developed markets such as the US, and the UK are the leading market players with a strong offshore mooring presence.