The report "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%.
In below water inspection, both ROV and diver can perform CVI inspection for the detection of any degradation or failure in mooring systems.The BWI segment accounted for the largest share of the mooring inspection market in 2014.
BWI is the largest segment of the market owing to the higher inspection cost of BWI as compared to AWI; underwater inspection requires sophisticated equipment, diving experts, and risk-based assessment of mooring components.Offshore industry relies on regular mooring inspection of mooring components for assuring the reliability of these systems, but the available technologies are not always reliable or suitable enough.
Various techniques that are used for examining the mooring components by the offshore industry includes CVI, MPI, UT, and electromagnetic detection, among others.Asia-Pacific held the largest share of the global mooring inspection market in 2014 and is expected to continue doing so during the forecast period.
The market in Australia is projected to grow at the highest CAGR between 2015 & 2020 in Asia-Pacific.Request Report Sample At https://www.marketsandmarkets.com/requestsampleNew.asp?id=154985700The major market players in mooring inspection market are Welaptega (Canada), Oceaneering International (U.S.), DeepOcean (Netherlands), Acteon Group (U.K.), Deep Sea Mooring (Norway), DOF Subsea (Norway), Moffatt & Nichol (U.S.), Delmar (U.S.), and other global players that are expanding their reach into the mooring inspection market considering the lucrative business opportunities.
This market is mainly driven by some of the factors such as rising concerns towards increasing mooring safety and regulatory requirements driving scheduled inspection practices.