Global Offshore Mooring Systems market size 2024, Forecast To 2033

The offshore mooring systems market has experienced steady growth, projected to rise from $1.72 billion in 2023 to$1.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. This growth is attributed to factors such as deepwater exploration and production, the increase in offshore wind energy projects, and the focus on safety and environmental protection. Forecasts indicate steady growth, with the market expected to reach $2.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. Drivers for this growth include the emergence of floating solar farms, focus on reducing carbon footprint, enhanced monitoring and control systems, and the dominance of floating production storage and offloading (FPSO). Major trends in the forecast period encompass technological advancements in mooring designs, dynamic positioning systems, advancements in offshore drilling technologies, pre-laid mooring systems, integration of automation and robotics, and strategic partnerships and collaborations.