Global Marine Watermakers Market: Introduction
- Watermakers are used to obtain portable water by reverse osmosis of seawater. They help convert seawater into safe and freshwater. This freshwater can be used in various application including bathing, drinking, and food preparation in marine vessels.
- Marine watermakers help avoid frequent stops to refill water tanks, thus saving time and cost. Furthermore, they enable to lower the size of water tanks. Therefore, companies are now investing significantly in the development of marine watermakers.
Key Drivers of Global Marine Watermakers Market
- Increase in spending on recreation and leisure activities is the key driver of the global marine watermakers market. Household income and disposable income of consumers have risen significantly across the world over the last few years. This can be ascribed to rapid industrialization and urbanization. Furthermore the global tourism industry has been transforming, with increasing popularity of marine and coastal tourism activities. Sale of marine watermakers depends on the sale of marine vessels. Thus, increase in spending on recreation and leisure activities is expected to drive the global marine watermakers market during the forecast period.
- Significant rise in sea trade is estimated to be a key driver of the global marine watermakers market. Sea trade has been increasing significantly across the globe. This indicates a rise in the number marine vessels being employed. This is likely to fuel the demand for marine watermakers.
Global Marine Watermakers Market: Segmentation
- The global marine watermakers market can be segmented based on type and application
- In terms of type, the global marine watermakers market can be bifurcated into electric watermakers and engine driven watermakers. The electric watermakers segment dominated the market in 2019. These watermakers are cost effective, reliable, and environmentally friendly.
- Based on application, the global marine watermakers market can be segregated into yacht, sailboat, cruise, and others. Yacht and cruise were lucrative segments in 2019 and are expected to remain lucrative during the forecast period.
Global Marine Watermakers Market: Regional Outlook
- Based on region, the global marine watermakers market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global marine watermakers market in 2019. This can be ascribe to the higher demand for yachts, sailboats, and cruise ships in the region due to growth in spending on recreation and leisure activities. The U.S. is expected to dominate the market in North America during the forecast period.
- The market in Europe is projected to expand at a high CARG during the forecast period, due to significant rise in sea tourism in the region. Furthermore, Europe has higher number of cruise ships. Thus, the marine watermakers market is anticipated to expand in the region during the forecast period.
- The market in Asia Pacific, Middle East & Africa, and Latin America is likely to expand at a steady CAGR during the forecast period, due to steady growth of marine industry in these regions
COVID Impact on Global Marine Watermakers Market
- The coronavirus outbreak has paralyzed the sea tourism industry. According to the United Nations World Tourism Organization, global international tourist arrivals declined by more than 60% in 2020 compared to that in 2019. This could translate into a loss of US$ 300 Bn to US$ 450 Bn in spending by international visitors. Furthermore, the global tourism industry is not expected to recover to the 2019 level until 2023. Thus, the Covid-19 pandemic has impacted sales of marine vessels, thereby hampering the marine watermakers market.
Key Players Operating in Global Market
- FCI Watermakers
- PARKER HANNIFIN CORP
- APPLIED MEMBRANES, INC.
- Tecnicomar SPA
- Fisheries Supply Company
- Hitachi, Ltd.
- Watermakers, Inc.
- Stella Systems
- Blue Water Desalination
- Sailfish Marine
Global Marine Watermakers Market: Research Scope
Global Marine Watermakers Market, by Type
- Electric Watermakers
- Engine Driven Watermakers
Global Marine Watermakers Market, by Application
Global Marine Watermakers 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.