Mooring Buoy Market to Hit USD 1.09 Billion by 2028; Increased

List of the Companies Profiled in the Market: Trelleborg Marine and Infrastructure, Sealite, FenderCare, Gisman, Mobilis SA, FloatexSrl, Corilla Marine, Walsh Marine Products,Norfloat International Ltd, Anchor Marine, Tidal Marine, IRM Offshore and Marine Engineers Pvt. Ltd.

Pune, India, Aug. 30, 2021 (GLOBE NEWSWIRE) — The global mooring buoy market size is expected to gain momentum by reaching USD 1.09 billion by 2028 from USD 0.75 billion in 2021 while exhibiting a CAGR of 5.5% between 2021 to 2028. In its report titled, “Mooring Buoy Market, 2021-2028,” Fortune Business Insights™mentions that the market stood at USD 0.73 billion in 2020.

A buoy is used in several offshore activities, such as it helps in maintaining the ship location for a desired period of time. These are also used as navigating symbols to ensure the safety of explorers. In addition, the oil and gas industry has been the front runner, as it involves the use of floating production vessels, support vessels, cargo ships, and offshore rigs. Furthermore, it is extensively used by the defense and marine sectors. These aforementioned factors are expected to drive the market during the forecast period.

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List of Key Players Profiled in this Industry Report

• Trelleborg Marine and Infrastructure (UAE)

• Sealite (Australia)

• FenderCare (UK)

• Gisman (France)

• Mobilis SA (France)

• FloatexSrl (Italy)

• Corilla Marine (UK)

• Walsh Marine Products (USA)

• Norfloat International Ltd (UK)

• Anchor Marine (USA)

• Tidal Marine (Canada)

• IRM Offshore and Marine Engineers Pvt. Ltd. (India)

Report Scope & Segmentation –

COVID-19 Impact

Story continues

The COVID-19 pandemic has impacted every industry worldwide. Moreover, the industries which are operating on offshore locations were heavily impacted due to cross-border restrictions. Moreover, the maintenance activities were at a halt, as many projects were pushed further. However, the end-use sectors of mooring buoy have shown significant revival signs during the forecast period.

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Market Segmentation:

By type, this market is segmented into plastic buoy and steel buoy. Based on the end-user, it is trifurcated into oil & gas, marine & defense, aquaculture, and others.

• Based on the end-user, the oil…