Published on : Dec 24, 2019
A recent market research report published by RMoz talks about the global marine buoys market and its overall working dynamics. This report of the marine buoys market offers comprehensive analysis, market shares, key trends, opportunities, and driving and restraining factors that are influencing the growth of the market. Along with in-detail market segmentation, the research report offers key insights and information that are imperative for devising decisive marketing strategies.
Marine buoys are marine meteorological and hydrological automatic observation stations. These stations consist of observation buoys that are generally anchored at sea. These marine buoys are able to collect continuous and long terms meteorological information on water quality of sea and marine hydrology for the further marine scientific research. Moreover, the data can also be used for the development of offshore gas and oil sites, national defense constructions, and port construction. The information collected by marine buoys can be especially used for identifying bad weather conditions and overall sea conditions, which are hard to collect by using regular survey vessels data. These buoys are designed in a manner that there is a heavy weight located at its bottom. This weight operates as an anchor and helps the buoy float in water.
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According to the research report by Researchmoz, the global marine buoys market is expected to achieve a stellar growth over the course of the mentioned projection period of 2019 to 2025. Growing investments in the field of marine research and studies is one of the key reasons behind the growth of the global marine buoys market.
Asia Pacific Segment to Grow with Increasing Investments from Emerging Economies
The global marine buoys market has five key regions as a part of its overall geographical segmentation. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the segment of Asia Pacific of the global marine buoys market is expected to show maximum growth potential. Countries such as Japan, Singapore, China, and South Kore are expected invest heavily in the development of marine buoys. Naturally, the market in the Asia Pacific region is expected flourish more. In addition to this, several leading players in the market are trying to establish their bases in the region. This too is acting as strong driving factor for the growth of the marine buoys market in Asia Pacific segment. China in particular is expected invest considerably in the development of advanced marine buoys and is thus projected to be a key contributor for the development of the market.
In terms of product, the global marine buoys market is divided into anchor type buoy and drift type buoy. Anchor type buoy involves marine buoys that have a solid anchor to hold down the position in a single spot and then collect the data. On the other hand, the drift marine buoy does not have such anchor. However, they have a solid weight in the middle that allows them to be afloat and drift deep inside the sea to collect the necessary information.
In terms of segmentation by material type, the global marine buoys market can be segmented into steel type, fiberglass type, plastic type, and foam type among others. In terms of applications, the global marine buoys market can be segmented into port construction, marine scientific research, and offshore gas and oil exploration among others.
The competitive landscape of the global marine buoys market is a fragmented one with the presence of several key players. Some of the leading brands operating in the global marine buoys market are Mobillis, Pharos Marine Automatic Power, SABIK Marine, Mesemar, Zeni Lite Buoy Co. Ltd., GBA, AXYS Technologies, and Furgo among others.