Recent Fact.MR Study Reveals Growth Prospects of Marine Fender Market, 2020-2030

The global marine fenders market is likely to record a steady growth pace over the forecast period (2020-2030). The market is primarily driven by increased demand for minimum test as well as inspection techniques, in addition to increased focus on infrastructure development.

"Asia Pacific and Europe will continue to be the chief expansion markets for marine fender worldwide. Expansion in Europe will be fueled by strict ecological concern, while in APAC, it will be owing to more impetus on infrastructure development" says a Fact.MR analyst.

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Key Takeaways

North America to remain the frontrunner among other region due to existing shipyards, ports, and active port construction activities.

The rubber segment will be accounting for highest market share amid the assessment period.

Molding remains to be the preferred manufacturing procedure for marine fenders worldwide, followed by extrusion.

Public ownership segment will capture lion's share in the global market.

The dockyard segment attains majority of market share over the forecast period.

Drivers

High demand for inspection procedures and minimum test, and increased focus on infrastructure development is adding the market growth

Seaborne trade is incessantly growing and is pushing the marine fenders market.

Expansion of international trade and the strictness of port regulations bolsters growth of the market.

Growing trend of leasing ports along with their infrastructure development is driving the market growth.

Constraints

Supply of low-grade quality fenders hinder the expansion of the marine fender market.

Data used to design new marine fenders are relatively outdated, thus can also limit the market growth.

Anticipated Market Impact by COVID-19 Outbreak

On the onset of the COVID-19 outbreak, its impacted has been strongly felt over several sectors including the marine fenders market. The outbreak has impacted the global market by its financial impact on employees and firms, by disrupting the supply chain and, by directly decreasing production and demand.

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Competition Landscape

Major market players operating in the marine fenders market include Bridgestone Corporation, ANCHOR MARINE & SUPPLY, INC., INMARE, Lalizas Italia s.r.l., J.C. MacElroy Company, Inc., MARINE FENDERS INTERNATIONAL, INC., SHIBATA INDUSTRIAL CO., LTD., Trelleborg Marine Systems, THE YOKOHAMA RUBBER CO., LTD., Urethane Products Corporation., and Sumitomo Rubber Industries, Ltd. Players are engaged in research & development joint ventures with prominent research 7 development companies for developing superior fenders to cater to their end use customers with a more desirable incorporation of new materials.

More on the Report

The Fact.MR's market research report provides in-depth insights into the marine fenders market. The market is scrutinized on the basis of component(mounting structure, face pads and others), end use(dockyards and ships), fender (rubber {cell type, cone type, arch type, cylindrical type, d-fenders and others}, foam, pneumatic, timber and others), ownership (public and private), manufacturing process (molding, extrusion and others), across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).

Press Release: https://www.factmr.com/media-release/1739/global-marine-fenders-market

 

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This release was published on openPR.