Mooring Inspection Market | Key players operating in the market include Welaptega, Oceaneering International, DeepOcean, Acteon Group, Deep Sea Mooring

According to recent market research "Mooring Inspection Market by Type (BWI, AWI), Technology (CVI, MPI, UT, Electromagnetic Detection, Mooring Line Dimension Measurement, Others), Region (APAC Latin America, North America, Middle East & Africa, Europe) - Global Forecast to 2020", The global mooring inspection market is projected to reach USD 362.5 Million by 2020, growing at a CAGR of 3.4%. The market is growing due to regulatory requirements and escalated awareness regarding the necessity of an inspection process in the oil & gas industry.

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Among the applications, the CVI technology segment held the largest share of the mooring inspection market in 2014. This technology segment is also projected to be the fastest-growing application segment of the mooring inspection market between 2015 and 2020 due to its reliability as compared to other technologies.
Based on the type of mooring inspection services, the mooring inspection market has been segmented into below water inspection (BWI) and above water inspection (AWI).

BWI is the largest segment of the market because of the higher inspection cost compared to AWI; underwater inspection requires sophisticated equipment, diving experts, and risk-based assessment of mooring components.

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The global mooring inspection market has been growing at a moderate pace owing to the increasing demand from offshore oil & gas industry. Welaptega (Canada), Oceaneering International (U.S.), DeepOcean (Netherlands), Acteon Group (U.K.), Deep Sea Mooring (Norway), DOF Subsea (Norway), Moffatt & Nichol (U.S.), and Delmar (U.S.) are the leading players in this market.

These companies are investing substantially in the global mooring inspection market. They are also been focusing on new product launches, mergers & acquisitions, and expansions to cater to the increasing demand for mooring inspection across varied industry verticals. Oceaneering International (U.S.), DeepOcean (Netherlands), and Moffatt & Nichol (U.S.), reported the maximum number of developments in the global mooring inspection market between 2010 and 2016. These companies have enhanced their production capacities to strengthen their foothold in the market.

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In 2014, Deep Sea Mooring expanded its global footprint by opening a new office in Perth, Australia. The facility is targeted towards providing technical and sales support to potential clients across Australia. This development will help the company to tap opportunities in the Australian offshore oil & gas industry.

In November 2015, Welaptega Marine Limited and Delmar Systems, Inc. launched R4 grade subsea connectors, which has an increased load capacity of up to 2,400 kips compared to the former R3 version. The R4 connectors can be used for both temporary and permanent moorings. This development has marked another breakthrough for high MBL (Minimum Breaking Load) mooring systems from Delmar.

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