Marine Buoys Market 2021 Trends, Share, Size, Growth, Opportunity and Forecast to 2030

Marine Buoys Market 2021-2030

PMR’s analysis concludes that, the global marine buoys market is anticipated to expand at a healthy CAGR of 5% during the forecast period of 2020-2030.

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Marine Buoys are used for the purpose of indication, navigation, monitoring, depth analysis, anchorage, hazard indication, data gathering and location indication. They seek applications across different areas of the marine industry, and are built for customized applications. They are gaining immense importance due to various concerns associated with waterways, especially related to security and safe navigation. Across the world, demand is surging for plastic buoys made from polypropylene, polyamide, polyester, elastomer, and polyethylene, as these are lightweight, have maximum buoyancy, are economical, and also don’t warp with time.

 Key Players:

The report has profiled some of the Important players prevalent in the global like – James and Fisher PLC, Fugro N.V., Marine Instruments S.A., and AXYS Technologies Inc and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Marine Buoys.

Key Takeaways from Marine Buoys Market Study

Marine buoys have become critical for weather forecasting and data monitoring purposes, for applications such as hurricane or cyclone forecasts, seasonal forecasting, satellite monitoring, maritime security, and ocean navigational aids.

Due to rising regulatory acts concerning installation and practice of using buoys, governments have come with separate associations which monitor buoy behavior in their regions. This has led to standardization in buoy manufacturing and installation, and has provided a healthy outlook toward environment protection.

Gradual inclination toward water sports and recreational activities has attracted large usage of buoys for the purpose of safety, navigation, and more often, to locate or indicate hazards.

Developments constituting usage of various material combinations such as elastomer and polymers for manufacturing marine buoys have led to up-gradation in their structures, providing durability and lightweight construction. Plastic and metal marine buoys are the most sought-after, and will account for more than 90% of total demand.

North America and East Asia will account for close to half of the total demand in the global marine buoys market, as far as volume is concerned.
1 out of every 2 marine buoys will be the mooring and anchor versions sold across the globe.
With travel and trade restrictions in place due to the COVID-19 pandemic, the marine sector has been hit hard, which has resulted in decreased demand for marine buoys. However, the global marine buoys market is expected to bounce back soon as restrictions are gradually eased across regions.

“Waterways are the backbone of international trade, and serve as one of the prime factors in transportation. Marine buoys will play a very important role in ensuring that waterways will always be safe in the future,” says a PMR analyst.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
Marine Buoys Market Manufacturers 
Marine Buoys Market Distributors/Traders/Wholesalers 
Marine Buoys Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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This release was published on openPR.