DUBLIN--(BUSINESS WIRE )--The "Marine Fender - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Marine Fender Market accounted for $670.00 million in 2018 and is expected to reach $1,048.33 million by 2027 growing at a CAGR of 5.1% during the forecast period.
Some of the key factors influencing the market growth include high demand for minimum test and inspection procedures, expansion of seaborne trade, the emerging trend of leasing ports and their infrastructure development. However, the supply of inferior quality fenders hampers the growth of the marine fender market
Marine fenders play an important role in maritime infrastructure to protect ships and berth structures from damage. These fenders are designed to impart safety to the port and vessels against a collision with other vessels. Marine fenders are important to prevent loss to the body of boat or ship. These are used between marine vessels and docking structures to prevent damage during berthing.
By Geography, Asia Pacific region has a huge demand due to the availability of natural rubber in adequate amount in the region and expansion of ports in the ASEAN region and China as a result of a rise in trade. Moreover, Asia Pacific comprises developing economies that are focusing on strengthening their economies through international trade, thus investing large sums in port development, which is leading to the high demand for marine fenders in the region.
5 Global Marine Fender Market, By Component
6 Global Marine Fender Market, By Fender
7 Global Marine Fender Market, By Ownership
8 Global Marine Fender Market, By Manufacturing Process
9 Global Marine Fender Market, By Application
10 Global Marine Fender Market, By End user
11 Global Marine Fender Market, By Geography
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Anchor Marine & Supply, Inc.
13.3 Qingdao Jier Engineering Rubber Co., Ltd.
13.6 Doshin Rubber Products (M) Sdn. Bhd
13.8 Eltech Rubber (India) Pvt. Ltd.
13.11 Qingdao Tiandun Rubber Co., Ltd.
13.12 James Fisher And Sons Plc
13.18 Yantai Defender Maritime Co., Ltd.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900