Mooring Inspection Market Size, Share and Global Trend By Type (Below Water Inspection, Above Water Inspection), By Technology (Close Visual Inspection, Magnetic Particle Inspection, Ultrasonic Testing, Electromagnetic Detection, Mooring Line Dimension Measurement)and Regional Forecast, 2024-2032

Regular inspection and maintenance help to minimize production and downtime. The investigation procedure can be a visual examination or evaluation of explicit attributes of mooring components with the assistance of non-destructive methods. These investigations can be risky for the divers and mooring components as review procedure includes evaluation of consistently moving segments. The offshore oil & gas industry requires continuous mooring inspection to enhance the reliability of the system.

The mooring system detects a defect at the initial stage. Mooring inspection helps to identify wears owing to rubbing on adjacent line components at connecting links, fatigue damage, corrosion, abrasion, excessive tension, etc. and protects the system. The initial cost of a mooring system depends on several factors like water depth, layout, and the surrounding forces. The mooring system can be installed fast and easy inspections and low maintenance needs.

Based on type, the global mooring inspection market can be segmented into below water inspection (BWI) and above water inspection (AWI). Below Water Inspection is expected to dominate the market in the above segmentation. High inspection cost of contrasted with AWI makes BWI dominating. The submerged investigation requires modern equipment, diving specialists and risk-based evaluation of components.

Based on technology, the global mooring inspection market is segmented into close visual inspection (CVI), magnetic particle inspection (MPI), ultrasonic testing (UT), electromagnetic detection, mooring line dimension measurement. Close Visual Inspection is expected to dominate the market in the above segmentation. Owing to it is safe as compared to any other technology. Magnetic Particle Inspection is used to detect defects in mooring components like chasers, connecting links, etc. Also, both CVI and MPI is used to identify erosion, contortion, surface splits, and chain breaks.

The factor that is expected to drive the growth of the global mooring inspection market owing to strict safety measures and regulatory necessities for keeping up mooring systems quality and rising concerns regarding of security of offshore oil and gas wells.

The factor that is expected to restrain the growth of the global mooring inspection market is owing to geopolitical reasons there is uncertainty in oil prices. This leads to reducing the deployment of the mooring inspection system.

Key Players Covered

Some of the major companies in the global mooring inspection market are Welaptega, Oceaneering, DeepOcean, Acteon Group Ltd., Deep Sea Mooring, DOF Subsea, Moffatt & Nichol, Delmar, Aceton Group Ltd., Welaptega, Viking SeaTech Limited, Franklin Offshore Australia Pty Ltd., DELMAR, and JIFMAR Offshore Services.

Segmentation

Regional Analysis:

The global mooring inspection market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the Asia Pacific, owing to an increase in demand for oil & gas that leads to a rise in offshore exploration & production activities to meet the increasing demand. In North America, the USA is dominating the market for mooring inspection. The USA has a large number of operational rigs. These rigs require continuous review. In Europe, countries like Norway, Russia, the UK are the major oil & gas producer. Owing to the presence of a large number of offshore operations in the European. This shows a positive outlook for the mooring inspection market. In the Middle East & Africa, countries like Iraq, Iran, the UAE, etc. are the major oil producer. These countries export oil & gas all over the world. Owing to an increase in demand for oil & gas this resulted in an increasing number of offshore operation this leads to a rise in demand for mooring inspection.

Key Industry Developments

• In Jan 2019, Deep Sea Mooring has secured a multi-year contract from Diamond Offshore. The contract will mooring and related equipment to several of Diamond’s rigs and would work closely with Diamond in developing Diamond’s Mooring Integrity Management System (MIMS) for offshore operations.


• In Apr 2018, Deep Sea Mooring and Vryhof Anchors, both company have secured a contract from Australian energy company Cooper Energy. This contract will provide full-scale mooring and anchoring services for Cooper’s main target drilling area, offshore Victoria, Australia.


• In Dec 2018, Acteon Group Ltd has announced that acquisition of subsea corrosion specialist Deepwater Corrosion Services Inc. This acquisition will strengthen the group's ability to help customers manage the integrity of subsea infrastructure throughout the life of a field.