The global demand for Marine Fender Market is expected to grow at a CAGR of 5%. In 2023, the marine fender market was valued at US$ 1.1 billion, and it is predicted to reach US$ 1.8 billion by the end of 2033. The marine fender market refers to the industry that produces and sells various types of fenders for use in marine applications. Marine fenders are protective devices that are placed between vessels and docks, piers, or other vessels to prevent damage during docking or mooring. They come in a variety of shapes and sizes, including cylindrical, rectangular, and spherical shapes, and can be made from materials such as rubber, foam, and plastic.
The global marine fender market is driven by the growth of the shipping industry and increasing demand for larger vessels, which require more advanced and durable fender systems to prevent damage during docking and mooring. Other factors contributing to market growth include the expansion of port infrastructure, rising seaborne trade, and growing demand for energy and offshore exploration.
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Key Takeaways:
- Based on component, mounting structure holds around 60% share of the global marine fender market.
- By fender, demand is forecast to remain high for rubber marine fenders globally.
- Asia pacific currently holds around 1/2 of the global marine fender market.
- The United States is set to account for a significant share of the global marine fender market.
- Demand for marine fenders in Germany will surge at a steady pace through 2033.
- With rising sea-borne trade, Japan is likely to emerge as a lucrative market for marine fenders.
Competitive Landscape:
Manufacturers are looking to expand their product lines by strengthening research and development capabilities. They are also partnering with industry stakeholders to maximize their market share. Further, they are focusing on marketing strategies such as product branding and awareness campaigns.
For instance,
- In April 2022, YOKOHAMA announced the launch of its floating and fixed fenders on its new, updated worldwide website.
- In April 2020, Urethane Technologies (UTI), a renowned producer of specialized buoys and maritime fenders was acquired by Marine Fender International.
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Key Companies Profiled by Fact.MR
- Trelleborg
- JIER Marine
- Viking Fender
- Palfinger
- INMARE
- The Rubber Company
- Horizon Marine Construction
- Sumitomo Rubber Industries, Ltd.
Country-wise Insights
- North America: The North American marine fender market is driven by the growth of the shipping industry and increasing investments in port infrastructure. The United States is the largest market in the region, followed by Canada and Mexico.
- Europe: The European marine fender market is driven by the increasing demand for energy resources and offshore exploration, as well as the expansion of port infrastructure. The United Kingdom, Germany, and France are the largest markets in the region.
- Asia-Pacific: The Asia-Pacific marine fender market is the largest and fastest-growing market in the world, driven by the growth of the shipping industry and rising seaborne trade. China, Japan, and South Korea are the largest markets in the region.
- Middle East & Africa: The Middle East & Africa marine fender market is driven by the growth of offshore oil and gas exploration and investments in port infrastructure. The United Arab Emirates, Saudi Arabia, and South Africa are the largest markets in the region.
- Latin America: The Latin American marine fender market is driven by the growth of the shipping industry and investments in port infrastructure. Brazil, Mexico, and Argentina are the largest markets in the region.
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Key Questions Covered in the Marine Fender Market Report
- What is the size and growth rate of the global marine fender market?
- What are the key drivers and trends shaping the market?
- What are the major challenges faced by market players?
- What are the different types of marine fenders available and what are their applications?
- What are the different materials used for marine fenders and what are their advantages and disadvantages?
- Who are the major players in the market and what are their market shares?
- What is the competitive landscape of the market and how is it evolving?
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