Pune India, June 17, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the mooring buoy market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the mooring buoy market is present across various countries in the above-mentioned regions.
Get Sample Copy of This Report @ https://greyviews.com/reports/mooring-buoy-market/57/request-sample
The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global mooring buoy market are Trelleborg Marine and Infrastructure, Sealite, FenderCare, Mobilis SA, Floatex Srl, Walsh Marine Products, Norfloat International Ltd., Anchor Marine, Tidal Marine, IRM Offshore and Marine Engineers Pvt. Ltd. among others. To achieve a substantial market share in the worldwide mooring buoy market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Trelleborg Marine and Infrastructure is one of the most significant manufacturers and distributors present in the global mooring buoy market.
The main aim of mooring buoy structure is to warn, guide, or notify mariners, to spot the presence of submerged objects that could be hazardous, or to moor vessels in lieu of anchoring. These structures are designed in a way that there is a heavyweight located in the bottom of the sea. This heavyweight is used as an anchor to hold the buoy floating in the water.
Growth of the global economy and international trade is significantly driven by maritime transport. For instance, according to the Maritime Transport 2021 by United Nations Conference on Trade and Development (UNCTAD), more than 80% of the volume of international trade in goods is carried by sea and this share is considerably higher for most of the developing countries around the globe. Hence, there is surge in number of shipments around the various regions along with the growing trade through the sea route. This has led to the concerns associated with security and safe navigation through waterways, creating demand for mooring buoy.
Enquiry Before Buying This Report @ https://greyviews.com/inquiry/57
Scope of Mooring buoy Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD million |
| Segments Covered | Product type and end user |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Trelleborg Marine and Infrastructure, Sealite, FenderCare, Mobilis SA, Floatex Srl, Walsh Marine Products, Norfloat International Ltd., Anchor Marine, Tidal Marine, and IRM Offshore and Marine Engineers Pvt. Ltd. among others |
Segmentation Analysis
Plastic buoy segment is expected to be the fastest growing segment in 2021.
The product type segment includes plastic buoy and steel buoy. Plastic buoy segment is expected to witness highest growth rate during the forecast period. The plastic buoy are seeing emerging popularity in the global market as they do not corrode and are designed for a long-lasting activity. On the other hand, the demand for plastic buoy is driven by factors such as maximum buoyancy, lightweight in construction, and economical in manufacturing.
Marine and defence segment is expected to be the fastest growing segment in 2021.
The end user segment includes oil & gas, marine and defence, aquaculture, and others. Marine and defence segment is expected to witness highest growth rate during the forecast period. Need for securing a ship has primarily driven demand for mooring buoy in marine and defence sector. In addition, the investment in mooring technologies by defence sector is opportunistic for growth of the market. For instance, in February 2019, the US Navy awarded a contract to Ocean Power Technologies (OPT), a U.S. publicly owned renewable energy company to develop a fibre optic mooring system to allow the transmission of subsea sensor data to airplanes, satellites, and ships.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the mooring buoy include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Asia-Pacific region witnessed a major share due to growth of the aquaculture, offshore wind power, and oil & gas sector across the countries including India, China, Vietnam and South Korea. However, Europe is expected to witness considerable growth rate during the forecast period. About 90% of the European Union’s (EU) external freight trade is seaborne. In addition, according to the European Commission, more than 400 million passengers embark as well as disembark at European ports every year. Such factors drives growth of the Europe mooring buoy market.
Country Analysis
Germany
Germany Mooring Buoy market size was valued at USD 79.20 million in 2021 and is expected to reach USD 125.10 million by 2029, at a CAGR of 6.1%from 2022 to 2029.
Germany is one of the largest seafaring countries in the world. In addition, the country is actively involved in international trade deals. For instance, in September 2021, COSCO Shipping Ports Ltd. announced strategic partnership with Hamburger Hafen und Logistik AG (HHLA), a German container terminal operator to augment the throughput at the Port of Hamburg as well as to expand trade among Germany and China. Such investments in support of the international trade are opportunistic for growth of the market.
China
China Mooring Buoy market size was valued at USD 158.40 million in 2021 and is expected to reach USD 239.07 million by 2029, at a CAGR of 5.5% from 2022 to 2029.
In 2019, marine industries in China contributed about 9% of its gross domestic product (GDP) in 2020. Also, according to the State Oceanic Administration in China, emerging marine industries, including advanced manufacturing and coastal tourism, grew over 11% annually from 2016 to 2020. This significance of marine industries is the primary factor contributing to the growth of the China mooring buoy market. In addition, supportive policies to attract and incorporate competitive technological advances into the marine industry has boosted growth of the market. For instance, under China’s 14th five-year plan and 2035 vision, the country has outlined goals to expand its ocean economy as well as develop and enhanced marine infrastructure in upcoming years. This plan is opportunistic for growth of the china mooring buoy market.
India
India Mooring Buoy market size was valued at USD 57.60 million in 2021 and is expected to reach USD 92.36 million by 2029, at a CAGR of 6.3% from 2022 to 2029.
India is one of the strongest growing economies in Asia. The maritime transport sector in this country handles about 95% of its international trade by volume. In addition, the development of its maritime sector has become one of the top priorities for the government of India. Moreover, the country is surrounded by the Indian Ocean Region (IOR), which supports about 80% of the global maritime oil trade. All of the aforementioned factors boosts growth of the India mooring buoy market.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as construction, food and beverages, manufacturing, automobile, etc. Similarly, the demand for mooring buoy has slightly decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of mooring buoy were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for mooring buoy significantly decreased.
Buy Now Full Report @ https://greyviews.com/checkout/57/single_user_license
Contact Us
Rocky Shah
GreyViews
Pune India
Phone: (+44) 162-237-1047
Email: sales@greyviews.com
Browse Related Reports:
Global Mooring Buoy Market Size by Product Type (Plastic Buoy and Steel Buoy), End User (Oil & Gas, Marine and Defence, Aquaculture, and Others), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/mooring-buoy-market/57
Global Solid Oxide Fuel Cell Market Size by Type (Planar and Tubular), Application (Portable, Stationary, and Transport), End user (Commercial & Industrial, Data Centers, Military & Defense, and Residential), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/solid-oxide-fuel-cell-market/51
Global Shore Power Market Size by Installation Type (Shoreside and Shipside), Connection (New installation and Retrofit), Component (Transformers, Switchgear Devices, Frequency Converters, Cables and Accessories, and Others), Power Rating (Up to 30 MVA, 30-60 MVA, and Above 60 MVA), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/shore-power-market/50
Global Gas Turbine Market Size by Technology (Open Cycle and Combined Cycle), Rating Capacity (≤200 MW and >200 MW), Design Type (Heavy Duty and Aeroderivative), Application (Power Generation, Oil & Gas, Marine, Process Plants, Aerospace, and Others), Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-gas-turbine-market/22
Global Marine Engines Market Size by Power Range (Up to 1000 hp, 1001 – 5000 hp, 5001 – 10000 hp, 10001 – 20000 hp, and Above 20000 hp), Engine (Propulsion and Auxiliary), Vessel (Commercial, Offshore, and Others), Type (Two-stroke and Four-stroke), Fuel (Heavy, Intermediate, Marine Diesel, Gas Oil, and Others), Regions, Segmentation, and Projection till 2028.
https://greyviews.com/reports/global-marine-engines-market/17
Global Lithium Mining Market Size by Type (Chloride, Lithium Hydroxide, Carbonate, and Concentrate), Application (Batteries, Glass, Grease, Air Conditioning Equipment, and Others), Regions, Segmentation, and Projection till 2028.
https://greyviews.com/reports/global-lithium-mining-market/14
Global Power Rental Systems Market Size by End-user (Government & Utilities, Oil & Gas, Construction, Industrial, Event Management, and Others), Application (Peak Shaving, Continuous Power, and Standby Power), Regions, Segmentation and Projection till 2028
https://greyviews.com/reports/global-power-rental-systems-market/9
Global Energy Harvesting System Market Size by Component (Transducers, Power Management IC (PMIC), and Storage Unit), Technology (Light Energy Harvesting, Vibration Energy Harvesting, Radio Frequency (RF) Energy Harvesting, Thermal Energy Harvesting, and Others), Application (Consumer Electronics, Building, and Home Automation, Transportation, Healthcare, and Others), Regions, Segmentation, and Projection till 2028.
https://greyviews.com/reports/global-energy-harvesting-system-market/4
