The global FRP Vessels market size was valued at $3.75 Billion in 2020 and is expected to reach $6.28 Billion by 2028 growing at the CAGR of 7.67% from 2021 to 2028. This growth is attributed to several macro and microeconomic factors such as
- Increasing demand for FRP vessels in the automotive industry
- Increasing demand for FRP vessels in downstream oil & gas industry
- Driver 3
Further several factors restraining the market growth include
- High cost of FRP vessels and regulatory approvals
- Restrain 2
Collaborations and Alliances in the FRP Vessels market are expected to generate higher avenues during the forecast period.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the FRP Vessels market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.
In terms of COVID 19 impact, the FRP Vessels market report also includes the following data points:
- Impact on FRP Vessels market size
- End-User Trend, Preferences, and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in FRP Vessels market
Key Insight in the report:
The global FRP Vessels market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.
Our report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Segment Data
- Financial Data
- Product Segment Analysis and Specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. FRP Vessels market is analyzed across the below-mentioned different segments:
- Automotive & Transportation
- Oil & Gas
- Water & Wastewater
FRP Vessels market is also analyzed across the below-mentioned regions/countries:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East & Africa
Some of the key players in the FRP Vessels market include:
- Faber Industrie
- Luxfer Group
- ZCL Composites Inc.
- Hexagon Composites
- Everest Kanto Cylinders Ltd.
- Quantum Fuel Systems
- Avanco Group
- Denali Incorporated
- Worthington Industries, Inc.
REPORT CONTENT BRIEF:
- High-level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- FRP Vessels market estimates for 2020 and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding took an investment done, among others.
- Suppliers and traders
- Government, associations, and industrial bodies
- Investors and trade experts
- Consulting Firms or Individual Consultant
- Anyone interested in understanding the industry dynamics of the FRP Vessels market