Marine Deck Machinery: Introduction
- Marine deck machinery, also commonly called ship deck machinery, is mechanical machinery installed on a ship’s deck for the purpose of ship docking, loading/unloading of cargo, and boarding and de-boarding of passengers. Various types of marine deck machineries are found on modern cargo ships such as anchor-handling equipment, hatch covers, cargo-handling equipment, and mooring equipment. Necessary equipment/items other than these machineries, such as watertight doors, davit for lifeboats and life-rafts, emergency equipment, stabilizers, and bow thrusters, are also found on ships.
- Marine transportation and travelling is more efficient and less costly than road transport and aerial transport. Different types of cargoes and cargoes of large size can be transported by using ships. Rapid industrial growth across the globe and rise in imports and exports among countries are augmenting the demand for cargo transportation and passenger travel. This, in turn, is generating the demand for marine deck machinery, which ensures safety of passengers and cargoes on ship.
Key Drivers of Global Marine Deck Machinery Market
- The world is witnessing technological advancements and growth of industries at a rapid pace. This growth is driving the demand for materials and minerals, new machineries, and equipment in developing as well as developed nations. Import and export of these new machineries, equipment, and minerals from one country to another is fueling the global transportation sector. Since the shipping industry is responsible for approximately 90% of the world trade, transport of cargo by ships is increasing. The only drawback of longer transit time in marine transport can be easily overcome by shipping larger cargoes. Thus, the demand for marine deck machineries useful for loading/unloading of cargo and boarding and de-boarding of passengers is on the rise. This factor is driving the global marine deck machinery market.
- Owing to increase in population, the demand for precious metals, minerals, automotive vehicles, construction equipment, and manufacturing machineries is increasing. This rising demand is rapidly draining the available mining resources. Various countries are seeking to enter into a contract with the International Seabed Authority in order to get an exclusive right to search for a particular metal or mineral in deep seas. This is increasing the number of expeditions in deep seas for finding possible mining sites for precious metals and minerals. Ships carrying deep-diving instruments for the mining purpose would require various deck machineries such as anchor-handling equipment, hatch covers, and cargo-handling equipment for easier handling; and watertight doors, lifeboats and life-rafts, emergency equipment, stabilizers, and bow thrusters for increased safety. All these factors indicate rise in the demand for marine deck machinery worldwide.
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Transportation Industry Segment to Dominate Global Market
- Due to the recent technological developments and rise in population, the demand for new machineries and equipment in manufacturing, construction, automotive, and agriculture sector is increasing. These equipment and machineries are imported or exported. This increases the demand for transportation. Owing to low freight rates and larger capacities, shipping is a preferred mode of transport. These all factors drive the global marine deck machinery market.
Lack of Skilled Labor for Marine Deck Machineries a Challenge for Market
- Owing to longer routes, ships may stay in seas for a longer time. In case of malfunction of deck machinery, an entire operation dependent on that particular machinery may stop, thereby hampering the dependent tasks. Skilled labor is required for maintenance in case of failure of deck machinery. Requirement of skilled labor for maintenance is a challenge for the global marine deck machinery market.
Asia Pacific to Dominate Global Marine Deck Machinery Market
- Growth of the domestic shipbuilding industry in China is one of the key driving factors for the marine deck machineries market in Asia Pacific. Several investors have planned for long-term investments in the shipbuilding industry in China.
- Asia Pacific has the largest population across the world. Rise in the demand for accommodation and increase in the life standards are propelling manufacturing, consumer goods, construction, automotive, and mining industries in the region. All these factors indicate growth of the shipping transport industry, which propels the global marine deck machinery market.
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Key Players Operating in Global Marine Deck Machinery Market
The global marine deck machinery market is highly concentrated among the top few manufacturers. A few of the key players operating in the global marine deck machinery market are:
- TaiXing Expansion Marine Equipment Co., Ltd. (EME)
- TUF Marine (Chongqing Perpetual Imp & Exp. Co., Ltd.)
- Mitsubishi Heavy Industries
- Marine Equipments Pellegrini
- MacGregor (Cargotec)
- China Shipbuilding Industry Company Limited
- Coastal Marine Equipment Incorporated
- Kongsberg Maritime
- Kawasaki Heavy Industries, Ltd.
- China State Shipbuilding Corporation Limited
- KUAN MARINE SERVICES PTE LTD
- TTS Group ASA
- PALFINGER AG
Global Marine Deck Machinery Market: Research Scope
Global Marine Deck Machinery Market, by Type of Ship
- Leisure (Cruise)
Global Marine Deck Machinery Market, by System Type
Global Marine Deck Machinery Market, by Product Type
- Lifting and Handling Equipment
- Anchoring System
Global Marine Deck Machinery Market, by End-use Industry
Global Marine Deck Machinery Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.