Vessel Control System Market: Introduction

  • The vessel control system is a fully integrated system that covers several aspects of the ship’s operation including navigation and administration of maintenance and purchasing of spares, cargo on-and-off-loading operation, auxiliary machinery operation, power management operation on the auxiliary engines, and propulsion plant operation
  • The vessel control system are used to monitor and control several parameters on the ship such as equipment status (whether open or closed), pressure level, current, frequency, temperature, vessel position, flow control, viscosity, machinery status, torque control, and speed

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Key Drivers & Restrains of Vessel Control System Market

  • Rise in demand to monitor and control various parameters such as engine temperature, diesel engine safety and start/stop, combustion temperature, fuel consumption, generator load in KW and %, and generator voltage to improve efficiency and safety of ship, is estimated to drive the vessel control system market during the forecast period
  • GHG emissions have been rising significantly across the globe due to rapid industrialization. The marine industry accounted for 2.5% of the total global GHG emissions in 2018. Several regulations has been introduced by regulators to limit GHG emissions in the marine sector. This has prompted vessel operators to focus on the adoption of emission control system as continuous monitoring of ship emissions is required to reduce the emission levels from a ship. This, in turn, is expected to propel the global vessel control system market during the forecast period.
  • Need to obtain real-time information to simplify work process and minimize human error is expected to augment the global vessel control system market during the forecast period. Furthermore, a rise in awareness about the benefits of integration of digital technology in the vessel is also likely to fuel the market.
  • Technological advancements in the vessel control system design, in order to optimize efficiency and reduce operation cost, is also anticipated to propel the global vessel control system market in the near future. For instance, in 2019, AB Volvo introduced EVC2, upgraded Electronic Vessel Control (EVC) System. The system offers a single connection point and the ability to manage EVC functions for the complete vessel and driveline independently.

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Cargo & Ballast Monitoring & Control Segment Expected to Hold Major Share of Global Market

  • The global vessel control system market can be segmented based on type and region
  • In terms of type, the global vessel control system market can be divided into propulsion & power monitoring & control, auxiliary machinery control, cargo & ballast monitoring & control, and others. The cargo & ballast monitoring & control segment is anticipated to expand significantly due to a surge in the demand for safe on and off loading of cargo, especially on tankers. Cargo & ballast monitoring and control is used to monitor cargo tank level, ballast tank level, service tank level, and cargo tank pressure & temperature level.

Asia Pacific Expected to Hold a Major Share of Global Vessel Control System Market

  • In terms of region, the global vessel control system market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • The vessel control system market in Asia Pacific is expected to expand at a significant pace during the forecast period due to an increase in the demand for seaborne trade activities in developing economies, including Japan, India, China, and other countries in Southeast Asia. In 2018, 4.494 billion tons of goods were loaded and 6.738 billion tons of goods were unloaded at seaports across Asia.
  • North America is likely to be a stable market for the vessel control system during the forecast period. Shipping companies present across the region are making considerable investments in R&D sectors to design cost effective & efficient vessel control systems that strengthen their competitiveness in quality, cost, and delivery, and ultimately benefit customers. This, in turn, is estimated to propel the vessel control system market in the region.
  • Europe is also projected to hold a key share of the global vessel control system market due to an increase in investments to modernize ports. This includes improvements in energy-related infrastructure, infrastructure to reduce carbon footprint, intermodal/multimodal terminals, transport connectivity, ICT/digital infrastructure, and other few basic infrastructure. Furthermore, a rise in marine trade activity, especially through the Mediterranean Sea and the Sea of Marmara, is projected to propel the vessel control system market in Europe.
  • The vessel control system market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period due to an increase in compliance focus toward maritime safety norms in these regions

Key Players Operating in Global Market

Leading companies operating in the global vessel control system market include:

  • Wartsila SAM Electronics GmbH
  • General Electric
  • Mitsubishi Hitachi Power Systems, Ltd.
  • Nabtesco Corporation
  • Kongsberg Maritime
  • Emerson Electric Co.
  • Sedni
  • IHC
  • AB Volvo

Global Vessel Control System Market: Research Scope

Global Vessel Control System Market, by Type

  • Propulsion & Power Monitoring & Control
  • Auxiliary Machinery Control
  • Cargo & Ballast Monitoring & Control
  • Others

Global Vessel Control System Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

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Vessel Control System Market