Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The "Fishing & Marine Ropes Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The fishing & marine ropes market is estimated to grow at a healthy CAGR of 4.0% during the forecast period to reach a value of US$ 1.1 Billion in 2027.
Ropes play the most vital part while carrying out fishing. Generally, there are two ways in which fishing is carried out i.e., purse seining and trawling. Purse seining is a non-selective fishing method that involves a surrounding net, called seine, which captures everything that comes into its surrounding.
Trawling, on the other hand, is the more common method of fishing. It entails pulling a fishing net, which is attached to a boat, through the water. Fishing nets are attached and handled through ropes from the boats. Furthermore, marine plays a crucial role in a country's economy as it opens opportunities for global trade. Ropes are used in the marine industry for mooring and tug and towing. Mooring is the process of anchoring a ship to a fixed or floating element using ropes.
The sudden outbreak of the Covid-19 pandemic frazzled the world, resulting in massive supply chain disruption, a halt in manufacturing and production activities, lockdowns, and food shortages affecting all aspects of economic activity. The fishing and marine applications were no exception. Wire ropes used in the fishing and marine applications also witnessed a sharp decline in line with the industry average, falling by about 5% in 2020. However, as expected, the market recovered as the Covid-19 wave began to fade, with a 4.8% increase in 2021. Overall,
Based on the application type, the market is bifurcated into fishing and marine. Fishing, which is practiced in every corner of the world and contributes significantly to global food security, dominates the market. The fishing application segment is further bifurcated into purse seining and trawling. Purse seining and trawling are two different types of fishing methods, with trawling being the dominant one. Similarly, the marine application segment is further subdivided into mooring and tug & towing. The mooring application dominates the marine segment.
Based on the raw material type, the market is segmented into steel ropes and synthetic ropes. Steel rope is likely to hold a larger share of the market during the forecast period, whereas synthetic ropes are expected to witness higher growth during the same period. Steel ropes provide more load-bearing capacity; hence, preferred in applications involving heavy loads. Synthetic ropes are relatively lightweight and flexible.
Based on the end-user type, the market is segmented as OE and aftermarket. The aftermarket segment dominates the fishing & marine ropes market. Ropes have a limited life cycle in fishing and marine applications, necessitating regular replacement and maintenance, resulting in higher demand at the aftermarket level.
In terms of regions, Asia-Pacific is expected to remain the largest and fastest-growing market for fishing and marine ropes over the forecast period. The long coastline and low labor cost are the major factors behind the dominance of the region in the global market. China is the largest market for fishing and marine ropes across the globe and is likely to maintain its position during the forecast period as well. North America and Europe are also likely to offer substantial growth opportunities for the industry participants in the coming years.
Key Players
The following are some of the key players in the fishing & marine ropes market:
- Bridon-Bekaert (The Ropes Group)
- Kiswire Ltd
- DSR Wire Corp
- Randers Reb International A/S
- WireCo World Group
Key Topics Covered:
1. Executive Summary
2. Fishing & Marine Ropes Market Environment Analysis
2.1. Supply Chain Analysis
2.2. PEST Analysis
2.3. Industry Life Cycle Analysis
2.4. Market Drivers
2.5. Market Challenges
3. Fishing & Marine Ropes Market - The COVID-19 Impact Assessment
3.1. Fishing & Marine Ropes Market Trend and Forecast (US$ Million)
3.2. Pre-COVID vs Post-COVID Assessment
3.3. Real GDP Loss vs Fishing & Marine Ropes Loss (2019-2020)
3.4. Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic Scenarios
4. Fishing & Marine Ropes Market Assessment (2016-2027)
4.1. Application-Type Analysis
4.1.1. Fishing: Trend and Forecast (US$ Million)
4.1.1.1. Regional Trend and Forecast (US$ Million)
4.1.1.2. Sub-Application Trend and Forecast (US$ Million)
4.1.2. Marine: Trend and Forecast (US$ Million)
4.1.2.1. Regional Trend and Forecast (US$ Million)
4.1.2.2. Sub-Application Trend and Forecast (US$ Million)
4.2. Raw Material-Type Analysis
4.2.1. Steel Ropes: Regional Trend and Forecast (US$ Million)
4.2.2. Synthetic Ropes: Regional Trend and Forecast (US$ Million)
4.3. End-User-Type Analysis
4.3.1. OE: Regional Trend and Forecast (US$ Million)
4.3.2. Aftermarket: Regional Trend and Forecast (US$ Million)
4.4. Regional Analysis
4.4.1. North American Fishing & Marine Ropes Market: Country Analysis
4.4.1.1. The USA's Fishing & Marine Ropes Market T&F (US$ Million)
4.4.1.2. Canadian Fishing & Marine Ropes Market T&F (US$ Million)
4.4.1.3. Mexican Fishing & Marine Ropes Market T&F (US$ Million)
4.4.2. European Fishing & Marine Ropes Market: Country Analysis
4.4.2.1. Russian Fishing & Marine Ropes Market T&F (US$ Million)
4.4.2.2. Norwegian Fishing & Marine Ropes Market T&F (US$ Million)
4.4.2.3. Iceland's Fishing & Marine Ropes Market T&F (US$ Million)
4.4.2.4. Spanish Fishing & Marine Ropes Market T&F (US$ Million)
4.4.2.5. RoE's Fishing & Marine Ropes Market T&F (US$ Million)
4.4.3. Asia-Pacific's Fishing & Marine Ropes Market: Country Analysis
4.4.3.1. Chinese Fishing & Marine Ropes Market T&F (US$ Million)
4.4.3.2. Indonesian Fishing & Marine Ropes Market T&F (US$ Million)
4.4.3.3. Indian Fishing & Marine Ropes Market T&F (US$ Million)
4.4.3.4. RoAP's Fishing & Marine Ropes Market T&F (US$ Million)
4.4.4. Rest of the World's (RoW) Fishing & Marine Ropes Market: Country Analysis
4.4.4.1. Peruvian Fishing & Marine Ropes Market T&F (US$ Million)
4.4.4.2. Chilean Fishing & Marine Ropes Market T&F (US$ Million)
4.4.4.3. Other Fishing & Marine Ropes Market T&F (US$ Million)
5. Competitive Analysis
5.1.1. Market Consolidation Level
5.1.2. Competitive Landscape
5.1.3. Market Share Analysis
5.1.4. Product Portfolio Analysis
5.1.5. Geographical Presence
5.1.6. New Product Launches
5.1.7. Strategic Alliances
5.1.8. Porter's Five Forces Analysis
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Application Type
6.1.2. Market Attractiveness by Raw Material Type
6.1.3. Market Attractiveness by End-User Type
6.1.4. Market Attractiveness by Region
6.1.5. Market Attractiveness by Country
6.2. Growth Matrix Analysis
6.3. Strategic Implications
6.4. Key Success Factors (KSFs)
7. Company Profile of Key Players (Alphabetically Arranged)
7.1. Bharat Wire Ropes Ltd.
7.2. Bridon-Bekaert (The Ropes Group)
7.3. DSR Wire Corp.
7.4. Dynamica Ropes
7.5. Katradis Group
7.6. KISWIRE Ltd.
7.7. Randers Reb International A/S
7.8. The Katradis Group
7.9. Usha Martin
7.10. WireCo World Group
8. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/j8vjrq
