Dublin, April 08, 2024 (GLOBE NEWSWIRE) -- The "Marine Fender Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The global marine fenders market is projected to grow at a CAGR of 3.1% from 2023 to 2031, driven by the increasing global trade, port development initiatives, and environmental awareness. While challenges related to materials and sustainability exist, the market is expected to respond with innovative solutions. As the maritime industry continues to evolve, marine fenders will remain a critical component for ensuring the safety and efficiency of vessels and port operations.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031. The report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Increasing Global Trade and Seaborne Transportation
Global trade and seaborne transportation have been growing steadily, driven by the expansion of international commerce and the globalization of supply chains. In 2022, despite challenges posed by the COVID-19 pandemic, seaborne trade volumes rebounded, highlighting the resilience of the maritime industry. The demand for marine fenders, which are crucial for the safe berthing and docking of vessels, is closely linked to the growth of seaborne trade. Ports and terminals around the world have been upgrading and expanding their infrastructure to accommodate larger vessels and handle higher cargo volumes. This has resulted in a substantial demand for marine fenders, especially larger and more advanced types, to ensure safe and efficient operations. The trend of increasing global trade is expected to continue into the forecast period (2023-2031), supporting the growth of the marine fender market.
Focus on Port Development and Infrastructure Upgrades
Ports are the lifelines of international trade, and governments and port authorities worldwide are investing heavily in port development and infrastructure upgrades. Modern ports are designed to handle larger vessels, including container ships, bulk carriers, and cruise liners. These larger vessels require robust fender systems to absorb the energy generated during berthing and to prevent damage to both the vessels and the port structures. Port authorities are increasingly recognizing the importance of high-performance marine fenders to enhance safety and reduce maintenance costs. In 2022, numerous port expansion and development projects were underway, driving the demand for marine fender systems. As these projects continue and new ones are initiated, the marine fender market is expected to witness sustained growth.
Growing Awareness of Environmental Protection
Environmental concerns and regulations have had a significant impact on the marine industry, leading to the development and adoption of eco-friendly and sustainable practices. This includes the use of marine fender systems designed to minimize the impact on marine ecosystems and reduce the emission of pollutants. In 2022, the focus on environmental protection prompted ports and terminal operators to invest in innovative and low-impact fendering solutions. These solutions often incorporate materials and designs that are less harmful to the marine environment. As environmental regulations become more stringent and public awareness of sustainability issues increases, the demand for environmentally friendly marine fender systems is expected to grow, driving innovation in the market.
Challenges in Material Availability and Sustainability
The marine fender market faces challenges related to the availability of suitable materials and sustainability concerns. Traditional fender materials, such as rubber and foam, have been widely used but may have limitations in terms of durability and environmental impact. The sourcing of high-quality rubber and other materials for fender production can be subject to fluctuations in supply and pricing. Additionally, as sustainability becomes a more prominent consideration in the maritime industry, there is a growing need for eco-friendly and recyclable fender materials. Meeting these requirements while ensuring the same level of performance poses a challenge for manufacturers. Developing sustainable fender materials that meet the stringent requirements of the marine environment is a priority for the industry as it moves forward.
Rubber Fenders Dominated the Market by Fender Type
Rubber Fenders are the most common type of fenders, known for their durability and versatility. Foam-filled fenders are lightweight and highly resistant to wear and tear. Pneumatic fenders use air pressure to absorb impact energy and are commonly used in ship-to-ship transfers. Timber fenders are often used in older port facilities and are known for their natural buoyancy. Other includes specialized fender types, such as cylindrical and cone fenders. In terms of both compound annual growth rate (CAGR) and revenue, rubber fenders dominated the market in 2022, primarily due to their widespread use in various maritime applications.
Public Ports and terminals Dominates the Market by Ownership Type
Public Ports and terminals are operated by government authorities or port authorities. Private Ports and Terminals: are operated by private entities or corporations. In 2022, public ports and terminals accounted for the highest revenue share due to their significant presence and role in global trade. However, private ports and terminals exhibited the highest CAGR, driven by investments in modernization and efficiency enhancements.
Europe remain as a Global Leader
Geographic trends in the marine fender market reflect variations in demand and growth across regions. Asia-Pacific is expected to exhibit the highest CAGR during the forecast period, driven by the expansion of ports in countries like China and India to accommodate larger vessels. In terms of revenue percentage, Europe is expected to maintain its position as the leading region in 2023, owing to its extensive port network and emphasis on environmental sustainability. Additionally, North America is anticipated to witness significant growth, supported by the expansion of container shipping and cruise tourism.
Competitive Trends
The marine fender market features several key players, including Anchor Marine & Supply, Inc., Bridgestone Corporation, Doshin Rubber Products (M) Sdn. Bhd, Eltech Rubber (India) Pvt. Ltd., Horizon Marine Construction, Inmare, J.C. Macelroy Company, Inc., James Fisher And Sons Plc, Lalizas Italia S.R.L., Lankhorst Recycling Products, Malaysian Consortium Of Rubber Products Sdn. Bhd., Marine Fenders International, Inc., Max Groups Marine Corporation, Prosertek Group S.L., Qingdao Jier Engineering Rubber Co., Ltd., Sinochem Group Co., Ltd., Sri Trang Agro-Industry Plc, Sumitomo Rubber Industries, Ltd., Thai Rubber Corporation, The Rubber Company, The Yokohama Rubber Co., Ltd., Trelleborg Marine Systems, Von Bundit Co., Ltd., and Yantai Defender Maritime Co., Ltd.
These companies employ various strategies to maintain their market position and drive growth. Key strategies include product innovation, research and development investments, and global expansion. In 2022, these top players collectively generated substantial revenue, and they are expected to continue leading the market throughout the forecast period. The competitive landscape remains dynamic, with players focused on meeting the evolving needs of the maritime industry, including sustainability and performance enhancements.
Key Questions Answered
- What are the key micro and macro environmental factors that are impacting the growth of Marine Fender market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Marine Fender market?
- Which is the largest regional market for Marine Fender market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Marine Fender market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Marine Fender market worldwide?
Key Topics Covered
1. Preface
2. Executive Summary
3. Marine Fender Market: Competitive Analysis
4. Marine Fender Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Marine Fender Market Value, 2021-2031, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
5. Marine Fender Market: By Fender Type, 2021-2031, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2022 Versus 2031
5.3. Market Segmentation
5.3.1. Rubber
5.3.1.1. Cell Type
5.3.1.2. Cone Type
5.3.1.3. Arch Type
5.3.1.4. Cylindrical Type
5.3.1.5. D Fenders
5.3.1.6. Others
5.3.2. Foam
5.3.3. Pneumatic
5.3.4. Timber
5.3.5. Others
6. Marine Fender Market: By Ownership Type, 2021-2031, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2022 Versus 2031
6.3. Market Segmentation
6.3.1. Public
6.3.2. Private
7. Marine Fender Market: By End-Use, 2021-2031, USD (Million)
7.1. Market Overview
7.2. Growth & Revenue Analysis: 2022 Versus 2031
7.3. Market Segmentation
7.3.1. Dockyard
7.3.2. Ships
8. Marine Fender Market: By Component, 2021-2031, USD (Million)
8.1. Market Overview
8.2. Growth & Revenue Analysis: 2022 Versus 2031
8.3. Market Segmentation
8.3.1. Mounting Structures
8.3.2. Face Pads
8.3.3. Others
9. Marine Fender Market: By Manufacturing Process, 2021-2031, USD (Million)
9.1. Market Overview
9.2. Growth & Revenue Analysis: 2022 Versus 2031
9.3. Market Segmentation
9.3.1. Molding
9.3.2. Extrusion
9.3.3. Others
10. North America Marine Fender Market, 2021-2031, USD (Million)
11. UK and European Union Marine Fender Market, 2021-2031, USD (Million)
12. Asia Pacific Marine Fender Market, 2021-2031, USD (Million)
13. Latin America Marine Fender Market, 2021-2031, USD (Million)
14. Middle East and Africa Marine Fender Market, 2021-2031, USD (Million)
15. Company Profiles
15.1. Anchor Marine & Supply, Inc.
15.2. Bridgestone Corporation
15.3. Doshin Rubber Products (M) Sdn. Bhd
15.4. Eltech Rubber (India) Pvt. Ltd.
15.5. Horizon Marine Construction
15.6. Inmare
15.7. J.C. Macelroy Company, Inc.
15.8. James Fisher and Sons PLC
15.9. Lalizas Italia S.R.L.
15.10. Lankhorst Recycling Products
15.11. Malaysian Consortium of Rubber Products Sdn. Bhd.
15.12. Marine Fenders International, Inc.
15.13. Max Groups Marine Corporation
15.14. Prosertek Group S.L.
15.15. Qingdao Jier Engineering Rubber Co. Ltd.
15.16. Sinochem Group Co. Ltd.
15.17. Sri Trang Agro-Industry PLC
15.18. Sumitomo Rubber Industries, Ltd.
15.19. Thai Rubber Corporation
15.20. The Rubber Company
15.21. The Yokohama Rubber Co. Ltd.
15.22. Trelleborg Marine Systems
15.23. Von Bundit Co. Ltd.
15.24. Yantai Defender Maritime Co. Ltd.
15.25. Other Notable Players
For more information about this report visit https://www.researchandmarkets.com/r/b7xgwj
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
