The global ship deck machinery market experienced significant growth in 2020 and is projected to continue growing at a moderate compound annual growth rate (CAGR) over the forecast period. Several key factors contribute to the increasing revenue in the market.
Firstly, there is a rising demand for carrier and cargo ships. As the global economy expands, there is a greater need for transportation of goods and resources between countries. The liner shipping industry plays a crucial role in meeting this demand by providing efficient and reliable transportation services. The growth of the liner shipping industry drives the demand for ship deck machinery as these ships require specialized equipment for cargo handling, anchoring, and mooring operations.
Secondly, the increasing demand for cruise ships also contributes to the growth of the ship deck machinery market. The leisure industry is experiencing significant growth, and cruise ships have become a popular choice for vacationers. These ships require a wide range of deck machinery, including cranes, winches, and other equipment for passenger embarkation, entertainment, and safety purposes. The growing demand for cruise ships translates into an increased demand for ship deck machinery to support their operations.
The liner shipping industry, with its efficient transportation services, has not only facilitated global trade but also had a positive impact on the world economy. It benefits consumers by providing more choices, boosts economies by facilitating trade, and creates employment opportunities. As this industry continues to grow, there will be a constant demand for ship parts and equipment, including ship deck machinery, to support its operations.
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The container shipping industry experienced overcapacity for four years leading up to 2021. However, a significant increase in demand for container ships was observed in that year. Data indicated that the growth in demand was expected to surpass the available capacity for the next few years. In 2021, the volume of container shipments was projected to increase by 7.5 percent, while the deployed capacity of container ships would rise by 3.5 percent. This marked the first time since mid-2017 that demand growth would outpace supply growth in the industry.
The surge in demand for container ships and cargo shipment has had a positive impact on the ship deck machinery market. Ship deck machinery refers to the equipment used on the deck of a ship for various operations, such as loading and unloading cargo, handling anchor and mooring systems, and deploying specialized equipment like winches and cranes.
Technological advancements in ship deck machinery have further contributed to the growth of this market. One notable example is the installation of an ABB winch drive with unique inbuilt active heave compensation (AHC) software by Hawboldt Industries. This installation took place on the Research Vessel Kilo Moana, operated by the University of Hawaii's Marine Center. The enhanced winch control, enabled by the AHC software, provides scientists with a safe, efficient, and reliable method of deploying water sampling equipment at depths of up to 5,000 meters, even in rough sea conditions.
Similar installations and advancements in ship deck machinery technology are expected to drive market growth in the coming years. As the demand for container ships and cargo shipment continues to rise, the need for efficient and reliable deck machinery will increase as well.
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Major Regions Highlighted in the Global Ship Deck Machinery Market Report:
· North America
o U.S.
o Canada
o Mexico
· Europe
o Germany
o U.K.
o Italy
o France
o BENELUX
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia Pacific
· Latin America
o Brazil
o Rest of Latin America
· Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of Middle East & Africa
Top Companies Profiled in the Report:
TaiXing Expansion Marine Equipment Co., Ltd. (EME), TUF Marine (Chongqing Perpetual Imp & Exp. Co., Ltd.), Markey Machinery, Mitsubishi Heavy Industries, AMGC, Pellegrini Marine Equipment, PAR Systems, Funz San Industry, MacGregor (Cargotec), China Shipbuilding Industry Company Limited, Coastal Marine Equipment Incorporated, Kongsberg Maritime, Wartsila, Kawasaki Heavy Industries, Ltd., Rapp Marine, China State Shipbuilding Corporation Limited, DMT Marine Equipment.
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