The global automated mooring market was valued at US $ xx Bn in 2021 and total revenues are predicted to grow 4.21% until 2021 until 2026, reaching US $ xx Bn.
The worldwide market for automated mooring systems is largely driven by call from the oil and gas industry. Furthermore, escalating investments in emerging economies with proven oil and gas reserves are predicted to increase call for the automated mooring system in the near future. The automated mooring market in Europe is also predicted to experience expansion during the foreseen period due to increased maritime business activities, especially through the Mediterranean Sea and the Sea of Marmara. In addition, the introduction of strict regulations to reduce carbon emissions is also predicted to drive market expansion. The automated mooring market in Latin America and the Middle East and Africa is anticipated to expand at a slow pace over the foreseen period due to the abundant availability of proven and proven oil and gas reserves in deep and ultra-deep waters.
Automation plays a fundamental role in the marine industry. Incorporating the automation process is essential for the expansion of port operations and for sustaining expansion. The automated lashing system reduces the handling of any equipment and therefore minimizes the need for total labor. Additionally, these automated mooring systems can be controlled via radio remote control from shore or on board the ship. In addition, the automated mooring system also eliminates non-productive docking areas at the end of the dock and between ships. Automated mooring broadens the operational window of product transmission through a greater variety of berthing and environmental situations, reduces resource and space requirements, improves safety, requires less time to moor ships, and can reduce infrastructure investment to increase berthing capacity. The automated mooring system reduces fuel consumption, CO2 emissions and docking time.
The catenary automatic mooring system is mainly employed in shallow water. The single point automated tie down system is widely employed for floating production storage and offloading applications. The FPSO is estimated to have the largest share of the worldwide market for automated mooring systems. However, the tension leg platform is likely to experience significant expansion during the foreseen period. The dynamic positioning automated mooring system is in its introduction phase and is employed in semi-submersible and FPSO applications.
Cavotec launches next-generation moormaster, the first installment for the world's first fully autonomous and emission-free ships. Shipping companies and ports around the world can now make every minute count, significantly reducing fuel consumption and escalating port productivity, with a simpler and faster implementation of the next generation automated vacuum mooring solution of Cavotec.
Australia and New Zealand acquire automated vacuum lashing systems for safer operations. Considering that mooring remains a challenging operation, many stakeholders in shipping have launched secure mooring technologies and projects to protect seafarers, with the latest company supplying automated vacuum mooring systems for ports in Australia and New Zealand
Automated Moorings Market Drivers
The market call for automated lashing systems increases greatly with the escalating call for efficient and safe operations. The changing preference for using technologically advanced systems to improve drilling capacity in both deep and ultra-deep waters is likely to fuel the call for an automated mooring system. The automated mooring system offers improved cargo handling operations, shorter wait times (resulting in shorter stays in port), and efficient terminal utilization. Furthermore, the installation of the automated mooring system also requires the deployment of fewer personnel (max. 2) for trouble-free operation. Furthermore, increased subsea exploration and production activities in Latin America, the Middle East and Africa are likely to contribute to the growing call for automated mooring systems.
Automated Moorings Market Restraints
One of the main factors hampering the sale of the automated mooring systems market is the high initial installation cost and maintenance cost.
Opportunities in the Automated Moorings Market
Advances in mooring system design to improve operational efficiency, along with increased energy call, are predicted to drive the automated mooring market during the foreseen period. Automated lashing system reduces waiting time and improves cargo handling operations. Increased investment in maritime business activities due to increased purchasing power, coupled with rapid urbanization, is predicted to increase the worldwide market for automated moorings.
Challenges in the Automated Moorings Market
The automated mooring market faces certain challenges such as lack of technical knowledge, harsh environmental situations under the sea and high investments, which can hamper the expansion of the worldwide market, during 2021-2026.
Automated Moorings Market Segmentation as per the research report until 2026.
Automated Moorings Market - By Type
Vacuum mooring is one of the most widely employed lashing types due to its ability to optimize operational efficiency and improve safety levels. It uses hydraulic and vacuum technology to eliminate mooring lines and increase the efficiency of the docking process. Currently, the magnetic lashing system is in the initial phase and is predicted to see significant expansion during the foreseen period due to its ability to reduce the percentage of casualties and improve safety.
Automated Moorings Market - By Application
The cargo segment is predicted to experience significant expansion due to increased call for an efficient and affordable freight mode and increased investments in maritime trade
Automated Moorings Market - By Region
Middle East & Africa
The Asia Pacific region, led by India and China, is anticipated to witness significant expansion in the worldwide market for automated mooring systems during the foreseen period. The offshore oil and gas discoveries of Australia, the South China Sea, etc. Call for these automated lashing systems is predicted to increase. In addition, North America is predicted to hold the majority of the worldwide market for automated lashing systems. Escalating call for power is likely to increase subsea drilling and exploration activities in the near future. The Europe region is predicted to experience considerable expansion due to the entry of new market players in this region, coupled with escalating investments in water exploration. Furthermore, due to liberal regulatory policies in Africa, this region is likely to attract more investment in the near future. North America accounted for the largest automated mooring market share in 2021, with a market value of US $ xx Mn.
The regional market is predicted to register a CAGR of 10% during 2021-2026. This is attributed to rising energy call predicted to increase subsea drilling and exploration activities in the foreseen period. Furthermore, Europe is likely to show significant expansion in the automated mooring market during 2021-2026 thanks to the entry of new market players into the EU coupled with increased water exploration. The automated mooring market in North America is predicted to expand at a significant rate during the foreseen period. This market expansion can be attributed to investments in exploration and production of conventional and unconventional resources in the offshore region to meet the increased call for crude oil. This automated mooring market in Asia Pacific is projected to expand at maximum CAGR over the foreseen period due to increased capex for shipbuilding infrastructure development. Increased shipbuilding activities in developing countries including India, China, Japan, and other Southeast Asian countries are also predicted to promote market expansion. Furthermore, increased energy call due to rapid urbanization, coupled with strong economic expansion, is also predicted to drive market expansion.
Impact of Covid-19 on Automated Moorings Market
The COVID-19 pandemic will change manufacturing in North America. Some manufacturers, such as those in the automotive industry, are seeing call decline, while others that produce items such as hand sanitizers, disinfectant wipes, toilet paper, and paper towels are mobilizing to increase production and produce the product as much as possible as fast as possible to meet the overwhelming call. At the same time, in an effort to stop the spread of the virus, large sections of the workforce are retreating home to work remotely. Those who remain in the workplace practice social distancing whenever possible and employ rigorous sanitation practices. According to public health officials, this coronavirus, if left unchecked, could affect one-third to three-quarters of Canadians, a massive portion of the total workforce.
Automated Moorings Market Key Players:
The major players operating in the global Automated Mooring Market are Cavotec SA, Trelleborg Marine and Infrastructure, TTS Group ASA, MacGregor (Cargotec Corporation), Mampaey Offshore Industries, and C-Quip.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automated Moorings Market, By Type
6.1.1 Vacuum Mooring
6.1.2 Magnetic Mooring
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Automated Moorings Market, By Application
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 Cavotec SA
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Trelleborg Marine and Infrastructure
8.3 TTS Group ASA
8.5 Mampaey Offshore Industries
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
The segment-level analysis in terms of By Diagnostic Wearable Devices, and Therapeutic Wearable Devices along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Automated Moorings Market By Region, From 2021-2026 ( USD Billion )
Global Automated Moorings Market By Type, From 2021-2026 ( USD Billion )
Global Vacuum Mooring Market By Region, From 2021-2026 ( USD Billion )
Global Magnetic Mooring Market By Region, From 2021-2026 ( USD Billion )
Global Automated Moorings Market By Application, From 2021-2026 ( USD Billion )
Global Container Market By Region, From 2021-2026 ( USD Billion )
Global Cargo Market By Region, From 2021-2026 ( USD Billion )
Global Passengers Market By Region, From 2021-2026 ( USD Billion )