Marine Fender Market Poised for an Explosive Growth in the Near Future
Posted by Sakshi Mishra on January 8th, 2020
Transparency Market Research has published a new report on the global marine fender market for the forecast period of 2019–2027. According to the report, the global marine fender market is projected to reach a value of ~US$ 880 Mn by 2027, expanding at a CAGR of ~3% during the forecast period.
Global Marine Fender Market: Key Findings
Expansion of Global Marine Fender Market
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Based on fender, the global marine fender market has been classified into rubber, foam, pneumatic, timber, and others. The rubber marine fender segment held a significant share of global market. However, foam and pneumatic fenders are gaining popularity due to their cost effectiveness and high life expectancy. Pneumatic fenders are a type of rubber fenders that are hollow and filled with air. These fenders are preferred in ship-to-ship transportation applications.
Regional Analysis of Global Marine Fender Market
In terms of region, the global marine fender market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held the largest share of the global marine fender market in 2018, due to the presence of a large number of ports in China and the ASEAN region. Moreover, rise in international trade in China and Singapore is expected to boost the growth of the market for marine fenders during the forecast period, as increase in trade is likely to drive port authorities to expand port terminals.
Global Marine Fender Market: Key Players
Prominent players operating in the global marine fender market include ANCHOR MARINE & SUPPLY, INC., Bridgestone Corporation, INMARE, J.C. MacElroy Company, Inc., Lalizas Italia s.r.l., MARINE FENDERS INTERNATIONAL, INC., Trelleborg Marine Systems, SHIBATA INDUSTRIAL CO., LTD., THE YOKOHAMA RUBBER CO., LTD., Sumitomo Rubber Industries, Ltd., and Urethane Products Corporation.
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About the AuthorSakshi Mishra
Joined: July 22nd, 2019
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