Pneumatic Fenders Market Worth to Reach USD 340.63 Million by 2026
According to the report, The global pneumatic fenders market in 2019 was approximately USD 265.0 Million. The market is expected to grow at a CAGR of 3.8% and is anticipated to reach around USD 340.63 Million by 2026.
Pneumatic fenders are used to protect the outer body of the ship from damage during docking or berthing. Without marine fenders, collisions between ship to ship or port while berthing or steer closer to wharf may lead to significant damage to the body frame of the ship. These types of marine fenders are lighter in weight and more efficient for ship-to-ship transfer operations, ship to jetty applications for their self-floating capability, and long-lasting durability. This pneumatic type marine fender is emerging due to easy deployment, cost-effective, and requires low maintenance. The pneumatic fenders manufacturers are striving to develop technologies that support their energy-absorption attributes, which are easy to install and efficient. It is being extensively used by large tankers, bulk carriers, LPG vessels, ocean platforms, large docks, harbor and wharfs.
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The global pneumatic fenders market has been segmented into type and applications. The type has been segmented into rubber mat-wire net, tire-chain net, and fiber net. The tire chain net protective type holds the major market share among the other types is owing to its long-lasting capability. The application has been bifurcated into ports, ships, and others. The ships accounted the highest market share in 2019. It is due to the rise in globalization that has increased trade activities across worldwide. For an instance, in March 2019, Italy signed an agreement with China to develop trade infrastructure. Thereby, such initiatives taken by the countries are expected to increase the demand for the pneumatic fender market.
The global pneumatic fenders market has been segmented into type, and applications. The type has been segmented into rubber mat-wire net, tire-chain net, and fiber net. The application has been categorized into ports, ships, and others.
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Some of the essential players operating in the global pneumatic fenders market, but not restricted to include Trelleborg Marine and Infrastructure, PALFINGER AG, ShibataFenderTeam AG, THE YOKOHAMA RUBBER CO., LTD., Qingdao Jier Engineering Rubber Co., Ltd., Shandong Nanhai Airbag Engineering Co., Ltd, Qingdao Evergreen Maritime Co., Ltd, Qingdao Tiandun Rubber Co., Ltd, Sumitomo Rubber Industries, Ltd., ANCHOR MARINE & SUPPLY, INC., and IRM Offshore and Marine Engineers Pvt. Ltd. among others.
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