A shiplift is an elevator platform used to dry dock or launch ships from the shipyard. It comprises of a structural platform that is lifted and lowered by the hoists. A ship transfer system is a trolley used to transfer the ships from the water to a parking place. The global shiplifts and transfer systems market is expected to witness tremendous growth during the forecast period due to advanced manufacturing techniques.
Some of the recent developments in the shiplifts and transfer systems market comprise:
Prominent players in the global shiplifts and transfer systems market comprise Bosch Rexroth AG, Bardex Corporation, Larsen & Toubro Limited, Damen Shipyards Group, Rolls-Royce Holdings PLC, TPK Systems Pte Ltd., and Maschinenfabrik Bröhl GmbH.
There is an increasing adoption of sea transport as it is one of the most cheapest and energy efficient modes of transport. To transport raw materials, food items, and other products, several companies have deployed sea transport. This has led to an increase in demand for shipping containers, thereby propelling the global shiplifts and transfer systems market.
In recent times, there has been a significant increase in maritime tourism which has cropped the need for new ships, consequently driving growth of the global shiplifts and transfer systems market. Additionally, rapid industrialization that allows the transfer of large volumes of raw materials via sea has boosted the market’s expansion.
Furthermore, advancements in the shipbuilding industry and increasing orders for new ships have acted as a catalyst in the growth of global shiplifts and transfer systems market. In addition to this, initiatives taken by governments of several emerging economies to promote seaborne trade and maritime tourism have expedited the market’s growth.
On the downside, there are a few restraining factors that may cause a shortfall in the global shiplifts and transfer systems market. Shiplifts and transfer systems require regular maintenance for optimal functioning and the costs associated with it are a bit on the higher side. This is a major restraint in the market that may hinder its growth. However, the advent of new manufacturing techniques and an increase in cost-efficiency will expand the consumer base of the shiplifts and transfer systems market, thereby facilitating its expansion.
Regionally, Europe is expected to dominate the global shiplifts and transfer systems market. This is owing to the presence of favorable macro-economic conditions. Asia Pacific is expected to grow substantially during the forecast period on account of rising shipbuilding requirements. The market in this region is majorly driven by China.