Press release
FRP Vessels Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
FRP Vessels Market Size
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=8788&type=smp
According to The Business Research Company's, The frp vessels market size has grown strongly in recent years. It will grow from $3.13 billion in 2023 to $3.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to corrosion resistance requirements, cost-effectiveness, lightweight design, versatility in manufacturing, chemical resistance.
The frp vessels market size is expected to see strong growth in the next few years. It will grow to $4.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to growing environmental concerns, advancements in composite technologies, expansion of renewable energy, rise in water treatment demands, infrastructure development in emerging markets. Major trends in the forecast period include focus on lightweight design, integration of smart monitoring systems, application in oil and gas industry, sustainability and environmental considerations.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/frp-vessels-global-market-report
Market Drivers and Trends:
Increasing demand for renewable energy is expected to boost the growth of the FRP (fiberglass reinforced plastic) vessel market. Renewable energy refers to energy that is derived from resources that are naturally replenished on a human timescale. FRP vessels are employed in the production and storage of biogas generated from organic materials. Biogas is considered a renewable energy source, and FRP vessels are suitable for storing and transporting it. For instance, in 2022, according to the global energy review by the IEA (International Energy Agency), a France-based autonomous international government organization, renewable energy supply from solar, wind, hydro, geothermal, and ocean sources rose by close to 8%, meaning that the share of these technologies in total global energy supply is increasing. Additionally, the U.S. power grid is shifting from fossil fuels to renewables, with renewables projected to increase by about 380% from 2022 through 2050. Therefore, the rising demand for renewable energy is driving the growth of the FRP market.
Development of low-weight transportation FRP vessels is the key trend gaining popularity in fiber reinforced plastic vessels market. Key players are focusing on development of the low weight transportation FRP vessels to gain a competitive edge in the market . For example, Universal Hydrogen, a US-based carbon-free economical hydrogen transport company, announced a new product launch of twin-tank module for 50 seat aircraft that uses carbon fiber-wrapped pressure vessels to store H2 gas at 850 bar, enabling a 400-nm range for a Dash 8 or ATR turboprop regional aircraft that enables easy transport and loading using existing infrastructure.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
TE Connectivity Ltd., Ametek Inc., Analog Devices Inc., Bradford Space Inc., Honeywell International Inc., Innovative Sensor Technology IST AG, Lockheed Martin Corporation, Maxar Technologies Inc., MinebeaMitsumi Inc., Moog Inc., Northrop Grumman Corporation, Renesas Electronics Corporation, Teledyne UK Limited, Texas Instruments Incorporated, Cedrat Technologies SA, InnaLabs Limited, Leonardo DRS Inc., Sierra Nevada Corporation, Rüstungs Unternehmen AG, STMicroelectronics N.V., Raytheon Technologies Corporation, Digi-Key Electronics Pvt. Ltd., Minebea Intec GmbH, Ball Aerospace & Technologies Corp., BAE Systems plc, L3Harris Technologies Inc., Thales Group, Airbus Defence and Space, Safran Electronics & Defense, Sensata Technologies Holding plc, Kistler Holding AG, First Sensor AG, MTS Systems Corporation, Curtiss-Wright Corporation, Parker Hannifin Corporation, Woodward Inc., Eaton Corporation plc, Spanish Society of Engineering and Construction, Space Inventor A/S
FRP Vessels Market 2024 Key Insights:
• The frp vessels market size is expected to see strong growth in the next few years. It will grow to $4.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Increased Demand For Frp Vessels Fueled By Rising Popularity Of Alternative Fuel Vehicles
• Development Of Low Weight Transportation Frp Vessels
• Asia-Pacific was the largest region in the FRP vessels market share in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=8788&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release FRP Vessels Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033 here
News-ID: 3741255 • Views: …
More Releases from The Business Research Company
Seed Treatment Fungicides Market to Grow at 9.3% CAGR, Reaching $3.15 Billion by …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Seed Treatment Fungicides Market Outlook: How is the Market Expected to Grow by 2025?
Over the past few years, the market for seed treatment fungicides has seen robust growth. Its market value is projected to rise from $2.07 billion in 2024 to $2.21 billion in 2025, signifying a compound annual…
Rheology Modifiers Market Growth to be Driven by Emerging Trends | $10.92 Billio …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Rheology Modifiers Industry?
There has been a consistent expansion in the size of the rheology modifiers market in the past few years. The market, which was worth $8.59 billion in 2024, is projected to increase to $8.89 billion in 2025, demonstrating a compound…
Polyurethane Foam Market to Record 8.4% CAGR Growth Through 2029 | Global Analys …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Polyurethane Foam Market Outlook: How is the Market Expected to Grow by 2025?
In recent years, the size of the polyurethane foam market has experienced substantial growth. It is projected to increase from a value of $54.27 billion in 2024 to $57.26 billion in 2025, indicating a compound annual growth…
Pharmaceutical Intermediates Market Size to Reach $46.04 Billion by 2029 | Growt …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Pharmaceutical Intermediates Industry?
There has been consistent growth in the market size of pharmaceutical intermediates over the past few years. The market is predicted to increase from a value of $33.37 billion in 2024, up to $34.95 billion in 2025, with a compound…
More Releases for FRP
FRP Rebar Market Set to Soar to $1361 Million by 2031 with 6.7% CAGR | Aslan FRP …
Report Description -
QYResearch latest report 'FRP Rebar Market 2025 Report' provides a comprehensive analysis of the industry with market insights will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. Finally, this will increase the return rate and strengthen the competitive advantage within. Since it's a personalised market report, the services are catered to the particular difficulty. The correct methodology…
FRP Cable Tray Market Size and Forecast
FRP Cable Tray Market size was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.8 Billion by 2030, growing at a CAGR of 8.2% from 2024 to 2030.
FRP Cable Tray Market Outlook and Investment Analysis
What is the current outlook for the FRP Cable Tray Market?
The FRP Cable Tray market is experiencing strong growth due to its increasing demand across various industries such as construction, electrical,…
FRP Rebar Market Growth Dynamics 2025-2032
The Fiber Reinforced Polymer (FRP) Rebar market has emerged as a critical player in the construction sector, offering innovative solutions for reinforcing concrete structures. With its lightweight, high tensile strength, and corrosion resistance, FRP Rebar is gaining traction in various applications, including road building, bridges, and underground construction. The market is characterized by a growing demand for sustainable construction materials, which is driving the adoption of FRP Rebar as a…
Key Trend Reshaping the FRP Tank Market in 2025: Product Innovation In The FRP T …
What combination of drivers is leading to accelerated growth in the frp tank market?
The growth of FRP tanks is anticipated to be driven by the escalating need for oil and gas storage solutions. Storage systems for oil and gas incorporate terminals or tanks that keep the produced oil and gas either above or underground. The oil and gas sector utilizes FRP tanks to hold bulk quantities of fluids at various…
FRP Pole Market Size, Share | Trend 2022
The global frp pole market size was valued at USD 328.1 million in 2021 and is expected to grow at a CAGR of 5.8% during the forecast period 2022 to 2028. FRP Pole (Fiber Reinforced Polymer Pole) is a type of composite material that is made by combining fibers such as carbon, fiberglass, or aramid with a polymer matrix. These poles are lightweight, strong, and highly durable, which makes them…
Global Fiberglass-reinforced plastic (FRP) Vessel Market
The studies performed by GME showed the FRP Vessel Market is projected to show trajectorial growth in the middle of 2020-2026 at a CAGR of 8.4%.
Government inclination towards adoption of clean fuel and improving market of natural and fuel cell electric vehicles are the factors expected to boost up the FRP vessels market in coming years. The growing application range of FRP vessels in different sectors such as in…
