Global Marine Fender Market 2023-2030

Global Marine Fender Market 2023-2030

Global Marine Fender Market Size, Share & Trends Analysis Report by Ownership (Public and Private), by Manufacturing Process (Molding, Extrusion, and Other), and by Fender Material (Rubber, Foam, Pneumatic, Timber, and Other) Forecast Period (2023-2030)

The global marine fender market is anticipated to grow at a CAGR of 4.5% during the forecast period (2023-2030). The marine project expansion is anticipated to drive the global marine fender market. For instance, in October 2022, new berth expansion at Le Havre Port in France equipped with shibatafenderteam special element fender systems. These fender systems offer an interesting feature as they were manufactured with a customized fastening system that allows the removal of the PE Plates from the front, without the need to access the fenders from behind. Additionally, it also supplied 20 sets of Steel Ladders in different lengths.

In May 2020, members of the EU-funded Interreg initiative have opted to produce a fender used to protect structures when berthing and guiding ships. In order to replace tropical wood and synthetic plastics in fender construction, the team explored the use of two materials, recycled PETG with glass fiber reinforcement (rPETG-GF30) and thermoplastic starch polymer (TSP). Such developments are anticipated to offer lucrative opportunities to the growth of the global marine fender market.

Segmental Outlook

The global marine fender market is segmented on the ownership, manufacturing process, and fender material. Based on ownership, the market is segmented into public and private. Based on manufacturing process, the market is sub-segmented into molding, extrusion, and other. Based on fender material, the market is sub-segmented into rubber, foam, pneumatic, timber, and other.

Regional Outlook

The global marine fender market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. North America held considerable share in the global marine fender market. The US held major market share in North American marine fender market. The US marine fender market is driven by several factors, including the increasing trade activities and port infrastructure development, which has led to an increase in vessel traffic and the need for reliable marine fenders to prevent accidents and damage to the vessels.

Additionally, the rise in marine tourism and recreational activities has also contributed to the growth of the US Marine Fender market, as there is a need for safe and secure mooring and berthing facilities for yachts and other leisure boats. The US market is highly competitive, with many companies offering a variety of products, including pneumatic, foam-filled, and rubber fenders. Some of the leading players in the market include Trelleborg AB, Bridgestone Corporation, Yokohama Rubber Co., Ltd., and FenderCare.

Global Marine Fender Market Growth, by Region 2023-2030

Source: OMR Analysis

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Marine Fender Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. In December 2021, Straits Energy Resources Bhd's (SER) unit, Victoria STS (Labuan) Sdn Bhd (Victoria STS) has signed a heads of agreement (HoA) with Fendercare Marine (Asia Pacific) Pte Ltd (FCM) to form an exclusive collaboration to provide ship-to-ship (STS) services at the Victoria Bay Port Limit in Labuan, Malaysia.

To ensure the success of the STS transshipment hub, both parties will combine their synergistic resources and expertise to provide the STS services at the Victoria Bay Port Limit. Victoria STS, a 70 per cent owned subsidiary of Fajar Maritime and Logistics Sdn Bhd, which in turn is a 60 per cent owned subsidiary of SER, has been awarded a concession to develop an integrated offshore ship-to-ship energy transshipment hub at Victoria Bay Port Limit. The STS hub will be SER's sustainable energy flagship project in the Victoria Bay deepwater area spanning a vast 3,309 hectares supporting an initial six STS berths with safe water depths of up to 30 meters. Such developments across the region is anticipated to drive the regional market growth.

Market Players Outlook

The major companies serving the marine fender market include Trelleborg AB, Bridgestone Corporation, Yokohama Rubber Co., Ltd., and FenderCare among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisition, business expansion, and partnership to stay competitive in the market. For instance, in March 2023, XLP members, Access World Shanghai and R.H. Shipping collaborate to deliver pneumatic rubber fenders from Qingdao, China to Altamira, Mexico

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global marine fender market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.