#Global Coastal and Maritime Tourism Market Share

[industryforecastnews]

Marine Vinyl Market Size To Reach USD 488.0 Million By 2030

Marine Vinyl Market Growth & Trends

The global marine vinyl market size is expected to reach USD 488.0 million by 2030, growing at a CAGR of 5.3 from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the surging demand for recreational boating, water sports, and yachting in North America and Europe. Furthermore, the expansion of maritime tourism in the Middle East & Africa, the Caribbean, and the Mediterranean is boosting the demand for marinas and waterfronts, thereby driving the product demand.

Marine vinyl is one of the ideal materials designed to withstand the harsh conditions of marine environments as it is highly resistant to tear, punctures, and abrasions. This makes it an ideal material for boat interiors and exteriors wherein constant exposure to physical stress is common. Moreover, marine vinyl is also waterproof. It prevents issues such as rotting, warping, and degrading of the components of the watercraft owing to no water absorption.

Innovations in marine vinyl, such as improved UV resistance, better textures, and enhanced durability, attract more consumers who are looking to renovate or refurbish their recreational boats, cruise ships, and yachts. Trivantage introduced pleated marine vinyl as part of its Nassimi Seaquest, Causeway Roll-N-Pleat, Nautolex Capitano, and Sunbrella Horizon brands. The pleated marine vinyl is durable, easy to clean, does not require specialized machinery for installation, and is available in multiple colors and patterns.

Moreover, the maintenance of marine vinyl is relatively simpler than other materials. It can be easily cleaned with soap and water and hence, has no requirement for special treatment methods or coatings to maintain its appearance and functionality. This ease of maintenance is appealing for outdoor applications wherein frequent cleaning might be necessary. Such factors contribute to the rising product demand for conventional fabrics in marine applications across the world.

Rising concerns among the masses across the world over the environmental impact of using vinyl affect the market growth. PVC contributes more to global warming compared to other types of plastic owing to its high energy consumption and discharges a significant amount of carbon dioxide (CO2) during its manufacturing process. Hence, with the growing awareness regarding climate change, the inclination of consumers toward sustainable alternatives is hampering the market demand.

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Marine Vinyl Market Report Highlights

Based on end use, cruise ships dominated the market in 2023, accounting for a revenue share of 36.86%. This growth is attributed to the extensive use of marine vinyl in seating, upholstery, wall covering, cabin interiors, and outdoor furniture applications due to its versatility, durability, low maintenance, and aesthetic appeal

Marine vinyl is also a preferred material for seating and upholstery on cruise ships, including lounges, dining areas, and outdoor deck furniture. It is resistant to UV rays, saltwater, and mildew, making it ideal for both indoor and outdoor applications. It can also endure heavy use while maintaining its aesthetic appeal, which is crucial for high-traffic areas on cruise ships

North America is projected to be the largest market in terms of revenue, with USD 230.2 million by 2030. The U.S. and Canada have a strong culture of recreational boating. Furthermore, the presence of coastal areas, Great Lakes, and numerous inland waterways has led to a higher demand for boating as well as marine vinyl in the region

The market is characterized as moderately competitive owing to the presence of both regional and multinational players. The key players in this industry are focusing on improving the quality of their products and enhancing their production capabilities. They are also increasingly focused on enhancing the quality of their products and providing customization options for them in terms of color, texture, and size for use in specific applications

Established brands with higher goodwill and a reputation for producing reliable and high-quality marine vinyl products tend to attract more consumers. Brand loyalty is an important factor affecting the buying decisions in the market, where consumers rely on trusted brands to ensure the safety and longevity of their marine upholstery

Marine vinyl can have higher upfront costs than conventional fabrics and materials. This may deter budget-conscious consumers and small businesses from using marine vinyl, especially due to a lack of awareness about its long-term benefits over conventional materials

Marine Vinyl Market Segmentation

Grand View Research has segmented the marine vinyl market based on end use, and region:

Marine Vinyl End Use Outlook (Volume, Thousand Square Meters; Revenue, USD Million; 2018 - 2030)

Yachts

Cruise Ships

Sport Boats

Others

Marine Vinyl Regional Outlook (Volume, Thousand Square Meters; Revenue, USD Million; 2018 - 2030)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Spain

Asia Pacific

China

Singapore

Japan

Central & South America

Brazil

Middle East & Africa

Saudi Arabia

UAE

List of Key Players in the Marine Vinyl Market

Sunbrella

The Swavelle Group

Charlotte Fabrics

Richloom

Morbern Europe BV

OMNOVA North America Inc.

Herculite

Reliatex Inc.

Uniroyal Engineered Products, LLC.

BZ Leather

SPRADLING GROUP

Nassimi LLC

Ultra Fabrics

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/marine-vinyl-market-report

[marketpattern]

Marine Adhesives Market  Strategies for Growth, Segmentation, and Market Overview by 2024-2031

The "Marine Adhesives Market" is a dynamic and rapidly evolving sector, with significant advancements and growth anticipated by 2031. Comprehensive market research reveals a detailed analysis of market size, share, and trends, providing valuable insights into its expansion. This report delves into segmentation and definition, offering a clear understanding of market components and drivers. Employing SWOT and PESTEL analyses, the study evaluates the market's strengths, weaknesses, opportunities, and threats, alongside political, economic, social, technological, environmental, and legal factors. Expert opinions and recent developments highlight the geographical distribution and forecast the market's trajectory, ensuring a robust foundation for strategic planning and investment.

What is the projected market size & growth rate of the Marine Adhesives Market?

Market Analysis and Insights

Global Marine Adhesives Market

Data Bridge Market Research analyses that the marine adhesives market will witness a CAGR of 4.11% for the forecast period of 2022-2029.

Marine adhesives are an automatic seal which blocks passage of fluids. It is also refer as sealant which is a combination of substances obstructing the flow of fluids between the joined surfaces or openings in materials. Marine adhesives are utilized in construction, glass bonding, building commercial ships decorative applications, and yacht and in the construction of expandable boats for military or leisure use.

The rising spending on recreational and leisure activities is the major factor accelerating the growth of the marine adhesives market. Furthermore, rising environmental concerns and regulatory policies and the increasing use of eco-friendly products in various applications are also expected to drive the growth of the marine adhesives market. However, international maritime organization environmental regulation and other maritime environmental regulations restrains the marine adhesives market, whereas, increasing demand for sustainable adhesives will challenge market growth.

In addition, growing coastal and maritime tourism will create ample opportunities for the marine adhesives market.

This market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on marine adhesives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 350 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

This research report is the result of an extensive primary and secondary research effort into the Marine Adhesives market. It provides a thorough overview of the market's current and future objectives, along with a competitive analysis of the industry, broken down by application, type and regional trends. It also provides a dashboard overview of the past and present performance of leading companies. A variety of methodologies and analyses are used in the research to ensure accurate and comprehensive information about the Marine Adhesives Market.

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Which are the driving factors of the Marine Adhesives market?

The driving factors of the Marine Adhesives market include technological advancements that enhance product efficiency and user experience, increasing consumer demand driven by changing lifestyle preferences, and favorable government regulations and policies that support market growth. Additionally, rising investment in research and development and the expanding application scope of Marine Adhesives across various industries further propel market expansion.

Marine Adhesives Market - Competitive and Segmentation Analysis:

Global Marine Adhesives Market, By Resin Type (Epoxy, Acrylic, Polyurethane, Others), Substrate (Metals, Composites, Plastics, Others), Vessel (Cargo Ships, Passenger Ships, Boats, Others), Application (Deck Systems, Glazing System, Panel Bonding, Others), Country (U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Luxemburg, Rest of Europe, Japan, China, South Korea, India, Australia And New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America UAE, Saudi Arabia, Egypt, Israel, South Africa, And Rest Of Middle East and Africa) Industry Trends and Forecast to 2031.

How do you determine the list of the key players included in the report?

With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.

Which are the top companies operating in the Marine Adhesives market?

Some of the major players operating in the marine adhesives market report are LOTTE Chemical CORPORATION, Fujia Group, Banner Chemicals, Exxon Mobil Corporation, BP p.l.c., SK global chemical Co. Ltd., Total, GS Caltex Corporation, Galp, Marathon Petroleum Corporation, Royal Dutch Shell, TAIYO OIL CO LTD., Idemitsu Kosan Co. Ltd., COSMO ENERGY HOLDINGS Co. Ltd., CITGO Petroleum Corporation, Valero Marketing and Supply Company among other.

Short Description About Marine Adhesives Market:

The Global Marine Adhesives market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

North America, especially The United States, will still play an important role which can not be ignored. Any changes from United States might affect the development trend of Marine Adhesives. The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.

Europe also play important roles in global market, with a magnificent growth in CAGR During the Forecast period 2024-2031.

Marine Adhesives Market size is projected to reach Multimillion USD by 2031, In comparison to 2024, at unexpected CAGR during 2024-2031.

Despite the presence of intense competition, due to the global recovery trend is clear, investors are still optimistic about this area, and it will still be more new investments entering the field in the future.

This report focuses on the Marine Adhesives in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

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What are your main data sources?

Both Primary and Secondary data sources are being used while compiling the report. Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2024-2031) of the following regions are covered in Chapters

What are the key regions in the global Marine Adhesives market?

North America (United States, Canada and Mexico)

Europe (Germany, UK, France, Italy, Russia and Turkey etc.)

Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)

South America (Brazil, Argentina, Columbia etc.)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

This Marine Adhesives Market Research/Analysis Report Contains Answers to your following Questions

What are the global trends in the Marine Adhesives market?

Would the market witness an increase or decline in the demand in the coming years?

What is the estimated demand for different types of products in Marine Adhesives?

What are the upcoming industry applications and trends for Marine Adhesives market?

What Are Projections of Global Marine Adhesives Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?

Where will the strategic developments take the industry in the mid to long-term?

What are the factors contributing to the final price of Marine Adhesives?

What are the raw materials used for Marine Adhesives manufacturing?

How big is the opportunity for the Marine Adhesives market?

How will the increasing adoption of Marine Adhesives for mining impact the growth rate of the overall market?

How much is the global Marine Adhesives market worth? What was the value of the market In 2020?

Who are the major players operating in the Marine Adhesives market? Which companies are the front runners?

Which are the recent industry trends that can be implemented to generate additional revenue streams?

What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Marine Adhesives Industry?

Customization of the Report

Can I modify the scope of the report and customize it to suit my requirements? Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.

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Detailed TOC of Global Marine Adhesives Market Insights and Forecast to 2031

Introduction

Market Segmentation

Executive Summary

Premium Insights

Market Overview

Marine Adhesives Market By Type

Marine Adhesives Market By Function

Marine Adhesives Market By Material

Marine Adhesives Market By End User

Marine Adhesives Market By Region

Marine Adhesives Market: Company Landscape

SWOT Analysis

Company Profiles

Continued...

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Data Bridge Market Research:

Today's trends are a great way to predict future events!

Data Bridge Market Research is a market research and consulting company that stands out for its innovative and distinctive approach, as well as its unmatched resilience and integrated methods. We are dedicated to identifying the best market opportunities, and providing insightful information that will help your business thrive in the marketplace. Data Bridge offers tailored solutions to complex business challenges. This facilitates a smooth decision-making process. Data Bridge was founded in Pune in 2015. It is the product of deep wisdom and experience.

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[thestoryofmymind99]

The Rising Tide of Recreational Boating: A Growing Market Fueled by Adventure and Technology

Exploring the Global Phenomenon of Recreational Boating and its Expanding Market

Recreational boating has long been a popular pastime for those seeking adventure and relaxation on the water. From the thrill of jet skiing to the serenity of sailing, boating offers a diverse range of experiences for enthusiasts worldwide. In recent years, the recreational boating market has seen significant growth, driven by advancements in technology, larger boats, a growing high-net-worth population, an improving economy, and a thriving tourism industry.

According to a report by Straits Research, the global recreational boating market was valued at USD 32,169.74 million in 2021 and is projected to reach USD 51,908.38 million by 2030, growing at a CAGR of 5.46% during the forecast period. This surge in demand is fueled by the increasing interest in recreational water sports activities and the development of cutting-edge boats and boat engines.

Growing Interest towards Recreational Water Sports Activities Drives the Global Market

Recreational boating infrastructure has expanded worldwide, thanks to rising consumer interest in water sports and increased participation by people of all ages. Watersports offer not only the thrill and adrenaline rush of physical exercise but also numerous positive effects on one's health. The market for recreational boating is expanding due to the growing demand for motorized watersports such as jet skiing, sailing, and yachting.

Government authorities in several countries have also recognized the potential of water sports and recreational boating and have actively promoted these activities. Initiatives to popularize water sports have been implemented, further driving the growth of the recreational boating market.

Technological Advancement in Boats and Boat Engines Creates Tremendous Opportunities

The recreational boating industry has witnessed significant technological advancements in recent years. Engine manufacturers are developing high-powered, low-emission engines to meet consumer demand and reduce emissions from boating activities. Boat manufacturers are incorporating advanced technologies such as the internet of things (IoT), artificial intelligence (AI), and smart sensors to provide users with conveniences like GPS tracking, automatic controls, and smart connections.

These technological advancements not only enhance the boating experience but also improve safety and security, increasing the desire of boat owners to venture into deep waters. With the persistent development of cutting-edge boating technology, the recreational boating market is poised for further expansion.

Regional Analysis

Europe holds the largest share of the global recreational boating market, with a projected CAGR of 4.18% during the forecast period. The region's market growth is driven by rising demand for luxury cruisers, increased coastal and maritime tourism, and a growing interest in boating among women and younger people. Germany, in particular, has seen a surge in recreational boating due to the rising demand for waterborne tourism in various destinations.

In North America, the recreational boating market is expected to grow at a CAGR of 5.72%. The region's improving economy and easy access to loans have contributed to an increase in boat sales. The popularity of watersports like waterskiing, surfing, and power boating is also on the rise, further fueling the recreational boating industry.

In Asia-Pacific, countries such as China, India, Japan, and South Korea are experiencing a growing demand for recreational watercraft. China, in particular, has seen government efforts to popularize yachting as a pastime, leading to an increase in the demand for recreational watercraft. Japan is witnessing a rise in the popularity of water sports like water skiing, power boating, fishing, and surfing, driving the expansion of the recreational boating market in the country.

Key Highlights

The global recreational boating market is segmented based on power, product, activity, and size. The engine-powered segment is the highest contributor to the market, with a projected CAGR of 5.78%. In terms of product, inboard boats hold the highest market share, growing at a CAGR of 3.84%.

Watersports and cruising are the dominant activities in the recreational boating market, with a projected CAGR of 4.96%. The less than 30 ft. segment is the largest in terms of size, with a projected CAGR of 3.98%.

The recreational boating market is experiencing significant growth worldwide, driven by the increasing interest in water sports activities, technological advancements in boats and boat engines, and expanding coastal and maritime tourism. As more people seek adventure and relaxation on the water, the demand for recreational boating is expected to continue to rise.

With ongoing developments in boating technology and the incorporation of advanced features, the boating experience is becoming more convenient and safer. Governments are recognizing the potential of recreational boating and water sports and actively promoting these activities. As a result, the recreational boating market is poised for further expansion, offering new opportunities for industry players and enthusiasts alike.

[stevecarell600]

Marine Seats Market overview, Ongoing Trends, Latest Advancement and Demand 2020 to 2027, At CAGR 3.27%% With Share and Demand Worth USD 683.4 Million

The global marine seats market size was USD 528.3 million in 2020. The market is projected to grow from USD 545.6 million in 2021 to USD 683.4 million by 2028 at a CAGR of 3.27% in the 2021 to 2028 period. The demand for marine seats is straight away linked to the marine vessels and international trade, transport, & economic cycles. There has been a decline in maritime trades and transport that has plummeted the demand for acquiring novel vessels This information is published by Fortune Business Insights™, in its report, titled, “Marine Seats Market, 2021-2028.” According to our researchers, the surging demand for recreational activities and vacation traveling is anticipated to fuel the marine seats market growth.

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Report Coverage

The report presents a methodical analysis of the market and a profound review of the prime segments of the market. It delivers an exhaustive examination of prime players and their perceptive strategies to thrust the market growth for fiscal gains. It also shares tangible insights that guide entrepreneurs with their investment standpoints. The regional dynamics and their tactics in shaping the market in an ascending curve are stated in the following report. Furthermore, COVID-19 influences have been added for additional information and the expectations set to affect the demand for marine seats in the upcoming future.

Segmentation

On the basis of ship type, the market is categorized into cruise, yachts, ferry, RO-RO carriers, auto/car carriers, bulk carriers, container ships, tankers, and others.

In terms of seat type, the market is divided into crew seat, passenger seat, general seat, and captain seat. The passenger seat segment is predicted to be the largest segment in 2020 due to the growing sea passenger traffic which is predicted to increase the demand for passenger seats during the forecast period.

In regards of component, the market is classified into seat structure and seat material.

Geographically, the global market is branched into North America, Europe, Asia Pacific, and the Rest of the World.

Driving Factors

Rising Marine Tourism Industry to Contribute Towards Market Growth

Marine and coastal tourism is a pivotal sector in numerous nations. Refining global economy and surging the net worth of individuals is anticipated to augment the demand for tourism. Both recreational boating as well as tourism events are anticipated to upsurge during the forecast period, as coastal and marine areas endure to be the uppermost tourist destinations.

Regional Insights

North America is predicted to lead and hold the largest marine seats market shares. The growth is accredited to the increasing demand for leisure activities and transportation in the U.S. and Canada.

Asia Pacific is predicted to grow at a higher CAGR throughout the forecast period owing to the rising cruising activities in China. Furthermore, the existence of shipbuilding companies in South Korea and Japan assists the growth of the market in the region.

The market in Europe is estimated to display substantial growth through the forecast period owing to the surging tourism in the region.

Industry Development

September 2021: Scot Seats created and produced replacement seats for the survivor space of the Royal National Lifeboat Institution (RNLI) Severn class lifeboats.

List of Key Players Covered in the Report

NorSap AS (Norway)

Stidd Systems Inc. (U.S.)

Shockwave Seats (Canada)

Jiangsu Trasea Marine Seating Ltd. (China)

ScotSeat Group (U.K.)

Springfield Marine Company (U.S.)

Ullman Dynamics (Sweden)

Alu Design & Services AS (Norway)

Todd Marine (U.S.)

Cleemann Chair-Systems GmbH (Germany)

TEK Seating (U.K.)

Competitive Landscape

Inventive Product Development by Crucial Players to Boost Market Growth

The fundamental players implement numerous tactics to bolster their position in the market as leading companies. One such prime stratagem is procuring companies to reinforce the brand value among users. Another crucial tactic is intermittently developing inventive products with a detailed study of the market and its target audience.

[stratviewresearch]

Marine Coatings Market Forecast and Opportunity Assessment by 2028

Stratview Research has published a new report on the Marine Coatings Market after a thorough analysis of the market. The key sources of information gathered for the report include various industry experts, suppliers, manufacturers, associations along with business distributions. The research report determines unique benefits of the various market size, share and the patent industry.

Wish to know more about the study? Click here to get a Free Sample.

The objective of the Marine Coatings Market report is to offer updated information such as the market share, size, trends, emerging markets, earnings, forecasts, and data on leading industry players. This study includes significant and vital information necessary for strategic decision making and have a competitive edge.

In view with the current pandemic analysts at Stratview Research has thoroughly analyzed and presented the following parameters under the detailed Covid – 19 impact analysis in the Marine Coatings Market.

Market Insights – The Marine Coatings Marketis projected to grow from USD 6.36 billion in 2022 to USD 8.69 billion by 2028 at a CAGR of over 5.3% during the forecast period.

Few key players operating in the Marine Coatings Market are-

PPG Industries

AkzoNobel

Hempel

Sherwin-Williams

Jotun

Chugoku Marine Paints

Nippon Paint.

Growth drivers and Market Value:

This report, from Stratview Research, studies the Marine Coatings Market value and growth drivers over the trend period of 2022-27. According to the report -

Marine Coatings market is likely to witness a healthy CAGR of 4.5% during the forecast period. The major factor influencing the demand for marine coatings is mainly its increasing demand from the shipbuilding & repair industry. Marine coatings possess various properties, such as providing protection to the surfaces and parts of ships from corrosion and abrasion. Further, they improve the visual appearance and aesthetic appeal of surfaces, which in turn, is driving the growth of the market.

Segment Analysis:

Based on Application Type:

Based on the application type, the market is segmented as cargo ships, passenger ships, boats, and others. The passenger ships segment is expected to remain the fastest-growing application during the foreseen duration. The growth in the coastal and maritime tourism across the globe is contributing to the growth of the shipping industry in the market.

Based on Region:

In terms of regions, Asia-Pacific is estimated to be the largest marine coatings market during the forecast period, with China, Japan, South Korea, Vietnam, Indonesia, and India, being the major countries with promising growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as industrial, transportation, electronics, and medical, which is generating substantial demand for marine coatings, increase in new shipbuilding projects and programs, and the presence of a large number of marine coatings manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer lucrative growth opportunities during the forecast period.

Know more about the report, click here

Critical Questions Answered in the Report

What are the key trends in the global Marine Coatings Market?

How the Marine Coatings Market (and its various sub-segments) has grown in the last five years?

What would be the growth driver and growth rate in next five years?

What is the impact of COVID-19 on the Marine Coatings Market?

What are the key strategies adopted by the major vendors to lead in the Marine Coatings Market?

What is the market share of the key players?

Target Audience

The following is a list of the customers that the Marine Coatings Market aims to convert the most:

Manufacturing Organizations

Distributors & Suppliers

Potential Investors

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, or to cover analysis on any particular geography or segment, please send your inquiry at sales@stratviewresearch.com or +1-313-307-4176.

What we do –Stratview Research is a growing market research firm. Experts here illustrate innovative, descriptive, and comprehensive insights through market research to satisfy your individual and organizational objectives. We assist the users to make well-informed, profound and favourable decisions to comprehend the advantages of forthcoming trends, developments, assessments, and opportunities through our precise understanding of the market.

[severepeanutperfection]

Watercraft Accessories Market Future Trends, Industry Size and Forecast to 2032

The global watercraft accessories market is projected to grow from US$ 6,901.1 Mn in 2021 to US$ 12,382.9 Mn by 2032, with sales growth at a healthy CAGR of 6% throughout the forecast period. Rising demand for watercraft accessories from diverse end use sectors including military & defense, amusement parks, coastal tourism & shipping company, and cargo logistics is a key factor driving growth in the global market.

Watercraft accessories consist of products such as life vests, tow ropes, boat dock line, boat fenders, etc., widely used by professionals and hobbyists for fishing and water sport activities. These accessories play a key role in improving the safety of watercraft passengers during water transportation and other recreational activities.

As recreational boating and water sports become more popular, demand for watercraft accessories is projected to grow at a healthy pace during the forecast period.

Similarly, rapid expansion of tourism industry, introduction of new government regulations, and increasing water parks will have a positive impact on the watercraft accessories market.

Furthermore, increased freight logistics in several geographic regions and growing usage of watercraft in logistics are likely to create lucrative opportunities for watercraft accessories manufacturers in coming years.

Key Takeaways from Market Study

Based on type, the life vest segment is projected to grow at a CAGR of 5% during the forecast period.

By sales channel, the online sales channel segment is projected to create an absolute $ opportunity of US$ 2,996.9 Mn between 2022 and 2032.

Based on end use, coastal tourism & shipping company segment is projected to hold around 27% of the market share in 2022.

TheS. watercraft accessories market is expected to exceed revenues worth US$ 1,802.7 Mn by the end of 2032.

Watercraft accessories market in India is likely to grow at a robust pace of around 2% CAGR during the forecast period.

Demand for watercraft accessories in China is estimated to grow at a value CAGR of 8% between 2022 and 2032.

“Rise in coastal tourism industry and increase in maritime trade activities will continue to provide a strong impetus to the growth of the watercraft accessories market,” says a Future Market Insights analyst.

Market Landscape

Among the industry's key players are Yamaha Motor Corporation, WireC, Bombardier Recreational Products Inc., IRM Offshore and Marine Engineers Private Limited., Covercraft Industries, LLC, BEXCO NV, Kawasaki Motors Corp., AXIOM CORDAGES LIMITED, Samson Rope Technologies, TEUFELBERGER, DAN-FENDER, Garware Technical Fibres Ltd., EVOLUTION TRADING (SHANGHAI) CO.LTD, SHEICO Group, ABSOLUTE OUTDOOR, INC. and others.

These key manufacturers are focusing on increasing their regional market share and are involved in making their direct presence in the local markets by expanding their dealer network. They are collaborating with local distributors to supply their products globally.

Key Segments Covered In Watercraft Accessories Market Analysis

By Type:

Life Vest

Tow Ropes

Boat Dock Line & Storage

Boat Fenders

Boat Cover

Others

By End Use:

Military & Defence

Amusement Parks

Professional & Hobbyist

Coastal Tourism & Shipping Company

Offshore Vessel

Cargo Logistics

By Sales Channel:

Multi Brand Store

Speciality Store

By Region:

North America

Latin America

Europe

East Asia

South Asia and Pacific

Middle East & Africa

For More Info@ https://www.futuremarketinsights.com/reports/watercraft-accessories-market

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global watercraft accessories market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global watercraft accessories market based on type, end use, sales channel, and region.

About FMI – Automotive and Transportation

The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behaviour.

[gustavodearistegui]

Jayant Baranwal (SP's): Can you give us a little background on Spain’s relationship with India?

Ambassador: Spain established a relationship with India after we joined the United Nations in 1953. A full-fledged embassy was not established until 1955, though there was a Charge-de Affaires in 1954. These premises were first rented in 1956 after being three years in different parts of the city and then we purchased in 1970. In the beginning it was very much a formal relation and Spain was under dictatorship at that time and Prime Minister Jawaharlal Nehru was not particularly fond of General Franco. So the relations were rather distant for a long time. Spain became a democracy in 1975 with elections being held in 1977. Very soon the relation grew in intensity and importance but it was more a cultural and political relation not much economic, meaningful bilateral, commercial, investment relation.

Actually there was a state visit of the King and Queen in 1981 to India. Last year’s visit here by His Majesty the King was an important visit which boosted the relationship between India and Spain. There were visits, political exchange being rather low for many decades.

This was relatively a small embassy and we have outgrown these premises. We are absolutely full over here and this was conceived when we were four times smaller than this. We have 2/3rd of our offices in a bigger building in Connaught place where we have commercial, military and cultural sections. I would describe relations as cordial relation between 1977 and the late 1990s and there was a leap forward in the beginning of this century. Then little by little we went from 10 Spanish companies to over 250 companies today. We have two commercial offices one in Mumbai and one in Delhi. It has grown five-fold and we are considering the urgent need to expand the office premises, make it twice as big and still not have enough space for all the people who are going to join us.

Since I came to India in May 2012, we have created 14 new positions in this Embassy when Spain  was undergoing very strict budgetary restrictions. Inspite of that Spain is extremely arrogant about boosting its relations with India. I have been in politics for 12 years and I was Member of Parliament and was senior spokesperson of the party on foreign policy and affairs. So when the Prime Minister won the elections and the Minister of Foreign Affairs called me and announced my appointment as Ambassador it was a  political message to the Indian government that we mean business with India and that we have been ignoring this great nation for too long. We wanted to give boost in the number of people in the Embassy and also to increase the presence of Spanish companies here. It is in many ways an ambassadorial position that has quite a political punch...  we are taking advantage of this interlock...

I can tell you that today the relations between India and Spain is a different one. We have a very fluid contact with political actors of the country. We have not covered all the States in India which is a complex and huge country. We have met the Chief Ministers of Karnataka, Maharastra, Andhra Pradesh and we intend meeting the Chief Ministers of Tamil Nadu, Gujarat, Odisha, West Bengal and Kerala and I am also going to Goa for the reception of the Spanish ship Cantabria. We will also be going to Jammu & Kashmir, Rajasthan, Punjab, Madhya Pradesh and we intend to open a consulate in Chennai. Right now, Spain is seriously investing in India. We have some of our most important companies present but not in the way and intensity that we would want.

Spain has seven of the top 10 infrastructure companies in the world, 11 of the top 20 water treatment companies of the world; one of the top three telecom companies in the world; the biggest bank in the Eurozone which is the Banco Santander which bigger than Deutsche Bank, BNP. Spain is a serious player but we don’t have hegemonic aspirations.  This is what makes us different. That is why we are a mid-size as far as population and area is concerned. It is six and quarter smaller than India, but with a global culture, global language and global interests and growing global influence.

We are a country with no hidden agenda, no strings attached. It is true we are not a global military power but we have a respectable military which I think can and must be an essential part of bilateral relations between India and Spain. As is the case with India, it is a democratic military, very professional that is obedient to elected civilian military rule and it is prestigious in the society that serves the legitimate interest of the country. Armed forces of democratic nations by and large share the same values but what I must say India is historic exception in a positive way. Many countries which regained independence and India is a not a new nation but a new state... many people tend to forget. India is a very old nation and probably the oldest civilisation and that makes this country very special. India is the only case after a period of colonial rule has direct access to democratic which is not always the case in the later part of the 20th century. That makes it unique. The political culture is unique and vibrant and that makes the armed forces of India, probably among the most respectful and professional in democratic society. All Indians should legitimately feel proud of.  

Today, we have made a huge leap forward in the economic side but it is still far from its potential. The capacities of the Spanish economy and the potential of India as a market and India as a partner, India is an extraordinary partner and I think we need to deepen that.

SP's: What all Spain can offer to have a strong base of partnership in India for the global market?

Ambassador: It is very complimentary. I see great opportunity in the emerging markets. When I see India it is not just great opportunity but great opportunity for meaningful and solid partnership. Why because India is known for intellectual property like Spain it is devoted to high technology, engineering, avante garde solutions, research and development, infrastructure, tourism, and defence. A very important  part of India’s wealth and the way it has leaped into 21st century comes from intellectual property. Spain is extremely good in some of the fields where India’s needs are bigger and more poignant... look at water quality, desalination, power generation and transmission (both conventional and renewable) and Spain is good at that. It is in our own interest to use latest technologies and it will push your and our high tech capabilities.  Today’s best technologies are tomorrow’s obsolete technologies. Of course, there are some obstacles and government regulators and trying to fix them. India needs stimulation in infrastructure projects and it requires direct investment and concession in PPP projects. If the 5 year plan is to be fulfilled you have to invest 200 billion USD in infrastructure and for that you need foreign investment and foreign investors need to feel secure, safe and that there is a certain flexibility to equity selling, to be able to refinance debt, look at making projects profitable because if they are profitable, it would be better for the banks and Indian banks will be financing and this will be good for the economy.

As regards defence, high technologies... we have sophisticated system of multi dimensional electronic and radar multi linked systems. Our coastline is protected. We have the 13th largest coastline (7800 km of coastline as peninsula) we have so many islands and we are a peninsula. This makes us a maritime nation, so is India between two oceans and you are in a complicated neighbourhood. It is not an easy neighbourhood. Spain is good at thwart terror threats, organised crime, illegal trafficking etc. Our systems are quite impressive and we are going to invite Indian officials to visit coastal defence systems... radar, motion detectors, infrared cameras cctv cameras and all combined gives us a picture of what is happening up to 10 miles into sea. It is extremely effective in search and rescue operations and response is much faster.

In the early years of this century, we had peaked at 250,000 illegal penetrations on the sea borders, now it is down to dozens as the Spanish Navy picks them up much before the border. We are doing extremely well as far as coastal protection. These systems have been developed by Indra and Amper. Indra is among the world’s giants in high tech, three out of every five air traffic control is built by indra and nearly 90 per cent used in India is by Indra. There are certain contracts with the defence sector which is catered by Indra and we are extremely satisfied with the level of expertise of the tree of excellence that Indra has developed. GMV, Technobeat etc have state of the art defence systems in very sensitive areas.

SP's: What is the proportion R&D investment in Spain?

Ambassador: It is not that much. However, the R&D budget has doubled from 600 million Euros in 2012 to nearly 1.4 billion Euros in 2014. Some of the most cutting edge technology is made by the private sector. Telefonica is one giant full-fledged technological company in the world and has huge R&D investment. We are only 49 million people and we take pride in our global companies such as Indra, Telefonica, Navantia, Airbus Military consortium of which we are a proud part.  None of the other participants in the consortium had any kind experience in building military transport aircraft and it was Casa, the Spanish branch of EADS. This is how the A400M project was born which was an evolution of the capacities, the technologies and the design of many decades of brilliant work of Spanish aerospace engineers. That has given birth of the quality of C295 which is the doubtlessly best mid-sized military airplane in the world. This is used by the American coastguard. It has won dozens of tenders around the world. This is the plane we intend to replace Avro transport plane. It is used as a platform for anti submarine war, rescue, surveillance, border control, transport troops, and also midsize gunship... all of that technology is behind the world’s most advanced military transport plane A400M. It is bigger than the Hercules. It is the only turboprop that can fly at a cruising speed of a commercial jet liner which is 0.74 mach whereas others are flying 30 to 40 per cent slower than that. It cuts down transport time for deployment of troops and in military terms, it gives huge tactical advantage.

SP's: A400M is a transcontinental project, what is the share of Spain in that?

Ambassador: The share of Spain in the consortium is relatively low at 5 per cent. In the MRTT that project is over 47 per cent.  The Boom is the most advanced refuelling system in the world. The Boom is totally computerised and it is a Spanish design. The A330 has substantial component from Spain, the tail and belly, parts of the cabin. This boom is unbeatable. It consistently defeats Russian and American technology. Even in the US, when there is unbiased assessment of technology it has defeated Boeing.

SP's: What roles can this aircraft play other than fuelling tanker?

Ambassador: Technology is so advanced... we don’t take any space from the passenger area. It still has a sizable amount of cargo capacity. It can be used for troop transportation and transformed into a super VIP military plane. I think there is great need for such planes India as it is quite a safe plane for a Head of State to fly as it can effectively thwart a missile attack. It is a multi-purpose aircraft and not just a refuelling jet. It can transport 300 troops and also high ranking officials in a business class environment. It is very versatile and you can change the configuration of the plane rapidly to use for different purposes... you can have a medical version too.

SP's: Can you elaborate on the objectives and sentiments behind the arrival of the Spanish Armada  Cantabria?

Ambassador: We are proud of this. It is the first time in the history of our bilateral relationship, a ship is coming to an Indian port. The visit of Cantabria is an emotional moment. We have been waiting for a long time for a Spanish ambassador to be receive is momentous. We have a beautiful protocol. We have the oldest marine corps in the world and  all the tradition is there.  Our naval officers are finest... they have been deployed with the Royal Australian navy for a year. It is an essential ship for modern naval warfare... this is a ship which has 25 bed hospital, ICU and dental clinic. It is one of those multi-purpose ships in concept. We have created newer version of long helicopter dock which is  a Spanish invention of long platform dock and an aircraft carrier, a mix of these two concepts. The Royal Australian navy has received two of these ships. In the Indian configuration of the ships it will be a long helicopter deck and will have combat, submarine, rescue capabilities. The ship is conceived a projection of amphibious warfare. It has a dock in the stern of the ship that has capacity to launch six assault boats with capacity for dozens of troops in each of them. Just imagine you reach the beach, the back of the ship opens and the six fast attack boats go out. It is state of the art. It has many command and control systems.... thousands of troops can be control in sea. It can control air traffic hundreds of miles of the ship. It has the most advanced pod propeller system. A 30,000 tonne ship actually manouveres like a small ferry. Everything that commands the ship is above the floatation line which is again a novelty. It can transport 5000 people. It can be used in humanitarian relief work such as the earthquake in Haiti. The ship can go to the coast and be transformed as a relief centre... it can have war tanks, trucks with humanitarian aid. This is the most versatile warship in the world right now.

SP's: What is the contribution level of Spain in EU towards infusion of technological knowhow?

Ambassador: We have some of the best engineers in the world. The engineering design company of Delhi metro is a Spanish company. They have projects in many countries ... They are at the pinnacle of their trade and a number of engineers are working out of Bangalore. Spanish engineers are really up there. European universities cannot match with regard to US universities if you consider campus facility, dormitory, urban environment etc but if you go purely on academic criteria,  there are few schools in Spain which are top in the world. Nobody can get Masters degree if they don’t go through six years of rigorous college and now the engineers can communicate in English and are extremely proficient in their trade.

European Union is a world leader in the making and it is a world leader in economic, commercial power in the world, far beyond the US. The defence expenditure if you calculate the EU it is greater than the US or the Chinese. The stock exchanges in the world are in London, Milan, Madrid , Paris... if you add technological excellence of so many European companies like Phillips, Siemens, Telefonica.... Look at the banks, Banco Santander from Spain, BNP, Deutsche Bank etc.. a lot of financial muscle and technological muscle. Look at the educational universities in UK, France, Germany... they are the brain factories of Europe. We have three top business schools in the world.

SP's: Coming to the defence trade in India, does EU play an effective role?

Ambassador: It is getting there. I see it happen. There is an excellent EU Ambassador here. The EU is a project in the making. You cannot count the things it has not yet achieved as flaws, but it will be achieved.   India has very cordial bilateral relations with individual countries of the EU... but they don’t see the usefulness of the EU yet. However, it is the responsibility of the EU with regard to foreign trade, regulation, trade etc.  Negotiations are going along a safe path and mutually beneficial result in due time. I heard that Union Finance Minister P.Chidambaram stating that there was window of opportunity from now to February if the negotiators made a breakthrough and signed the FTA, if not negotiations will continue with new EU commission and with the new Indian government next year.

SP's: Would you like to indicate the key milestones of Navantia?

Ambassador: The most advanced frigate in the world is the F100 which is Spanish design. The F100 frigate is the basis for AF85 frigate Navantia built for the Norwegian Navy. It has some of the most advanced large...it would be like small frigates (BAMS – Maritime Action Boats). It is a boat of 4000 tonnes and has a crew of less than 40.  It is totally automated. We have an extremely efficient Navy because of the new concepts... No other nation has the BAM concept... they have corvettes which is smaller version of a frigate. BAM is a Spanish invention. It has more firing capacity with 30 per cent less displacement and more speed, lot less manpower. It is a revolution in maritime warfare. The submarine project is a little delayed but the S80 concept is absolutely amazing. It has the most advanced autonomous energy systems and definitely the safest. It is a multipurpose firing system developed by several companies in the world.  It has some of the most silent navigational capacities in the world and very interesting underwater speed and silent.  It has command controls which can coordinate land, sea and air attacks at the same time and is considered as a NATO command post.

SP's: What is the level of country’s aerospace and military complex contribution towards Spains economy?

Ambassador: It is important it is not huge. Spanish economy is over 1.4 trillion dollars. We are sure will be 1.8 or 1.9 trillion dollars in 10 years and we are going to be a serious player. Defence industry is important for many aspects. In an economy of our size tourism with 70 million arrivals this year is 12 per cent of GDP. Defence is much lower. However, it has so many technological breakthroughs in the military R&D and are incorporated in civilian use such as safety of boats, cars, aircraft etc. We have limited resources and keep our country more efficient and safe. It is not about having lot of people. For instance on board a Spanish navy ship there is no foot sailor, the least you can be is a first class corporal. Everybody has some kind of technical proficiency.

SP's: In India, there is lot of debate of having own aerospace complex in terms of self-reliance, does Spain support the idea?

Ambassador: We want to be a partner with Indian companies and we are keen on participating. We are not going to withhold any kind of technology. We are going to be transparent. Offsets are going to be real and we are going to give you the latest not first generation technology. There is lot of potential for both private and public companies to go to world markets after developing synergies.   Navantia is  partnering L&T and they are going to participate in tenders of Indian Navy and Airbus Military is looking for Indian partner for replacement of Avro aircraft. Everybody has legitimate aspiration to indigenise their military, however there will be joint ventures. For instance the weapon systems of submarines are with US collaboration. We have taken hardware and systems from others and we built a totally Spanish product. Our LHD is a floating electronic war machine.  

SP's: Recession, how do you perceive the future now?

Ambassador: A lot better. We have safe fundamentals. We have bad private debt crisis. The problem is of the debt of citizens... they need to get out of it. Fiscal consolidation and discipline, structural reforms, budgetary restrictions have worked. We are out of recession... we are going to peak at 1 per cent in 2014. We have tightened our belts and now we have to fight unemployment and we have done that without sacrificing the welfare state. We have not overspent, we over invested in roads, high speed trains, airports etc. The Madrid (airport) has a capacity of 100 million passengers, it peaked at 70 million and it fell to 45 million. It will come back. We are pushing for direct flights between Delhi and Madrid and that will help us in raising numbers. Indians can go to Latin America through Spain.   We are cutting down on unnecessary expenses. Spanish ministers are driving 10 year old cars... everybody is doing their bit.

SP's: What is your perception about FDI in defence in India and what it should be?

Ambassador: It is a very delicate matter of sovereignty. It has to have some kind of special regulation. We cannot be fuzzy about our defence sector for investment and similarly other country’s reasoning.  FDI should be open in other sectors, defence you have to be careful. It needs regulation from government. There are delicate matters pertaining to security and stability, geopolitical interests have to be taken into account. We have to take necessary caution.

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Recreational Boating Market Chain Analysis, Upstream Raw Materials Sourcing and Downstream Buyers

Recreational boat, also known as pleasure craft boat, is designed for fun on water surface. Many individual use this for fun and pleasure activities during outing with family and friends. Recreational boating includes many activities such as boat racing, sailing, campaigning, fishing and other water sports game. Recreational boats are made up of plastic, aluminum, coated fabrics. Various types of recreational boats include runabouts, towboats, fishing boats, sailboats, pontoon boats, sterndrive powerboats, jet boats, personal watercraft, propulsion systems, and cabin cruisers.

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Change in boat technologies, increased boat size, increasing high net worth population, rising economy, growing tourism industry and innovating in boat engine are attracting more people for recreational boating. This growing interest further drives the recreational boating market across the globe. Currently, recreational boating industry represents only a small fraction of the global leisure industry; however its share is expected to increase in the coming years. This industry was hit hard during global recession as demand in major markets such as the US and Europe suffered a negative impact during economic slowdown.

North America accounts for the largest share in the global recreational boating market. In North America, the U.S. holds the largest share of recreational boat market. Around 34% of the total population of the U.S participates in recreational boating on annual basis. In 2010, about 75 million people in the U.S. participated in recreational boating. The number increased to reach over 88.5 million by 2013 end. Such growth in the participation trend in recreational boating in North America is expected to boost the recreational boating market. Europe is the second largest market for recreational boating after North America. Italy, UK, Germany and France are some of the major recreational boating markets in European region. The share of recreational boating market is expected to grow at higher rate in Europe region as compared to North America. Growing demand of luxury cruisers is expected to help the market growth in the European recreational boating market. Leisure ports and cruise shipping have huge potential for economic growth with low environmental impact. Growing coastal and maritime tourism makes significant contribution in the growth of recreational boating market in Europe. Asia Pacific region is also one of the prominent markets for recreational boating. Rising economy in China, India, Southeast Asia, and Korea and growing interest towards boat riding help in the growth of recreational boating market in Asia Pacific countries. Growing income levels in the developing nations in Asia Pacific region allows the consumers to spend on premium recreational activities such as recreational boating.

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Some of the major companies operating in global recreational boating market are Brunswick Corporation, Azimut-Benetti,  Groupe Beneteau, Suzuki Motor Corporation , Platinum Equity, Group Beneteau, Ferretti, Azimut-Benetti, Sunseeker, Rodriguez, Bavarian, Princess, Sealine Attwood, Avon Inflatables, Zodiac Marine & Pool,  Baja Marine, Bombardier Recreational Products Incorporated, Brunswick Corporation, Carlisle Paddles, Caterpillar Incorporated, Crusader Marine Engines, Fountain Powerboat Industries Incorporated,  General Motors Company, Godfrey Marine, Honda Motor Company Limited, Hydra-Sports Boat, Interphase Technologies, Kawasaki Heavy Industries Limited, KCS International Incorporated, Pleasurecraft Engine Group, Poly Marquis Yach, Tognum AG and Yamaha Motor Company Limited.

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Global Coastal and Maritime Tourism Market Audience, Geographies and Key Players 2026

This report focuses on the global Coastal and Maritime Tourism status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Coastal and Maritime Tourism development in North America, Europe, China, Japan, Southeast Asia, India and Central & South America.

ALSO READ :  http://www.marketwatch.com/story/ai-in-games-market-growth-2021-2025-by-covid-19-impact-revenue-profit-leading-companies-opportunities-and-global-industry-trends-2021-01-19

The key players covered in this study Carnival Corporation Royal Caribbean Norwegian Cruise Lines MSC Cruises Genting Hong Kong Disney Cruise Silversea Cruises (Royal) Dream Yacht Charter

ALSO READ :  https://icrowdnewswire.com/2019/07/09/banana-pulp-market-global-key-players-trends-share-industry-size-growth-opportunities-forecast-to-2024/

Market segment by Type, the product can be split into Cruise Tourism Yachting and Sailing Tourism Other Market segment by Application, split into Passenger Tickets Service Onboard and Other Service

ALSO READ :  http://www.marketwatch.com/story/frozen-pizza-market-2021-global-share-trends-segmentation-analysis-and-forecast-to-2027-2021-01-18

Market segment by Regions/Countries, this report covers North America Europe China Japan Southeast Asia India Central & South America

ALSO READ :  http://www.marketwatch.com/story/prune-brandy-market-is-growing-with-top-leading-companies-and-good-future-opportunities-for-forecast-period-2021-to-2027-2021-01-19

The study objectives of this report are: To analyze global Coastal and Maritime Tourism status, future forecast, growth opportunity, key market and key players. To present the Coastal and Maritime Tourism development in North America, Europe, China, Japan, Southeast Asia, India and Central & South America. To strategically profile the key players and comprehensively analyze their development plan and strategies. To define, describe and forecast the market by type, market and key regions.

In this study, the years considered to estimate the market size of Coastal and Maritime Tourism are as follows: History Year: 2015-2019 Base Year: 2019 Estimated Year: 2020 Forecast Year 2020 to 2026 For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

ALSO READ :  http://www.marketwatch.com/story/contact-center-systems-market-growth-2021-2025-by-covid-19-impact-revenue-profit-leading-companies-opportunities-and-global-industry-trends-2021-01-20

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Marine Life Raft Market Demand, Scope and Future Estimation until 2032

Marine life rafts are small inflatable rescue boats designed to keep distressed passengers afloat. These small sized rafts are carried within larger ships and boats, deployed immediately whenever an emergency arises. Some of the marine life rafts, also known as rigid life rafts, are usually pressurized and contained within airtight canisters, conveniently placed at the outer deck of the ship, which aids in easy and faster deployment of the life rafts.

Owing to tighter regulations formed over the years for the purpose of improving marine safety, life rafts are a common fixture on ships and boats. Its penetration rate is anticipated to improve in the upcoming years by increasing the minimum number of marine life rafts to be present in the ships. SOLAS or International Convention for the Safety of Life at Sea is the prime regulatory body and treaty governing the usage of marine life rafts on ships and boats. The prime functional requirements of a marine life rafts include being able to withstand extreme weather conditions, be able to absorb impact loads, carry minimum rescue equipment as well as food and among others.

The marine life raft market is projected to reach a valuation of US$ 1 Bn in 2022. With sales growing at a 4.4% CAGR, the market size is projected to surpass US$ 1.5 Bn by 2032.

Demand for marine life rafts is projected to grow at a 4.4% CAGR, in comparison with the 2.1% CAGR registered between 2017 and 2021.

Marine Life Rafts Market Dynamics

The primary factor responsible for driving the marine life rafts market is growth witnessed in maritime transport or seaborne trade wherein large volume of goods take it to the sea for transportation purposes. The shipbuilding industry is also on the rise around the globe which thereby contributes to the growth of the marine life rafts market in the forecast period. The market of marine life rafts is also aided by the growth witnessed in the fishing industry wherein large boats and dispatched for fishing purposes. Marine tourism is also another area which has grown considerably over the past few years especially in the Mediterranean and Asia Pacific region prompting higher requirements of marine life rafts which thereby helps in the overall growth of the market.

Though the manufacturers of marine life rafts do not fall under the category of large revenue generating players, they are keen in continuously developing the product to improve its lifespan, passenger holding capacity and reliability. Shortcomings noticed in product differentiation within the major players has led to the development various innovations such as large capacity, self-propelled life rafts.

Marine Life Rafts Market: Regional Outlook

In terms of the geographical reach of the marine life rafts market, it can be said that economies with larger coastlines are expected to have a larger market share. The market in the landlocked economies will be lesser but may rely on marine transport within the inner waterways such as rivers. The market for marine life rafts in the Asia Pacific region is anticipated for a healthy growth in the forecast period due to growing marine industry and transportation. This factor is also true for the Middle East and Africa region as well, in particular the Middle East region owing to improvements witnessed in its maritime cargo industry. The North American market is also anticipated for a positive growth due to tighter regulations placed around the mandatory instalment of such rescue equipment on board the ships and boats. Influx witnessed in the coastal tourism of the European region is anticipated to strengthen the growth of the marine life rafts market on a longer run in the future.

Marine Life Rafts Market: Market Participants

Examples of some of the major players in the Global Marine Life Rafts market, identified in the value chain include:

Survitec Group

Safety Marine Australia Pty. Ltd.

Compass Inflatables Ltd.

Shanghai Star Rubber Products Co., Ltd.

Viking Life-Saving Equipment A/S

Revere Survival Inc.

Seago Yachting Ltd.

Plastimo SAS

Winslow LifeRaft Company

Switlik Inc.

LAZIZAS

Galvanisers India

Jiaxing Rongsheng Lifesaving Equipment Co., Ltd.

Zodiac Nautic

Regional analysis includes:

North America (U.S., Canada)

Latin America (Mexico. Brazil)

Western Europe (Germany, Italy, France, U.K, Spain)

Eastern Europe (Poland, Russia)

Asia Pacific (China, India, ASEAN, Australia & New Zealand)

Japan

Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

Marine Life Rafts Market: Segmentation

By Capacity, the market can be segmented as:

Less than 3 persons

3 to 6 persons

More than 6 persons

By Type, the market can be segmented as:

Rigid

Flexible

Single Tube Life Raft

Multi tube Life Raft

By Packing Type, the market can be segmented as:

Hard Packing

Valise

Canister Packing

Report Highlights:

Detailed overview of parent market

Changing market dynamics in the industry

In-depth market segmentation

Historical, current and projected market size in terms of volume and value

Recent industry trends and developments

Competitive landscape

Strategies of key players and products offered

Potential and niche segments, geographical regions exhibiting promising growth

A neutral perspective on market performance

For More Info@ https://www.futuremarketinsights.com/reports/marine-life-rafts-market

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Global Maritime Tourism Market Analysis, Size, Share and Trends 2020-2026

Summary – A new market study, titled "Covid-19 Impact on Global Maritime Tourism Market Size, Status and Forecast 2020-2026" has been featured on WiseGuyReports.

Maritime tourism refers to those recreational activities which involve travel away from one’s place of residence and have the marine environment or inland waters/waterways as their host or focus, such as sailing, boating, yachting, cruising, nautical sports, Sea angling, Marine wildlife watching and some emerging activities like Sea kayaking, Coastal Rowing, Surfing, Windsurfing etc.

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Maritime Tourism market in 2020.

Also read – https://wiseguyreports.wordpress.com/2020/08/12/impact-of-covid-19-outbreak-on-maritime-tourism-market-2020/

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

This report also analyses the impact of Coronavirus COVID-19 on the Maritime Tourism industry.

Based on our recent survey, we have several different scenarios about the Maritime Tourism YoY growth rate for 2020. The probable scenario is expected to grow by a xx% in 2020 and the revenue will be xx in 2020 from US$ xx million in 2019. The market size of Maritime Tourism will reach xx in 2026, with a CAGR of xx% from 2020 to 2026.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Maritime Tourism market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Maritime Tourism market in terms of revenue.

Players, stakeholders, and other participants in the global Maritime Tourism market will be able to gain the upper hand as they use the report as a powerful resource. For this version of the report, the segmental analysis focuses on revenue and forecast by each application segment in terms of revenue and forecast by each type segment in terms of revenue for the period 2015-2026.

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global Maritime Tourism market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.

The report includes country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.

Competition Analysis

In the competitive analysis section of the report, leading as well as prominent players of the global Maritime Tourism market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.

On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Maritime Tourism market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Maritime Tourism market.

The following players are covered in this report:

Carnival Corporation

Royal Caribbean

Norwegian Cruise Lines

MSC Cruises

Genting Hong Kong

Disney Cruise

Silversea Cruises (Royal)

Dream Yacht Charter

Maritime Tourism Breakdown Data by Type

Cruise Tourism

Yachting and Sailing Tourism

Other

Maritime Tourism Breakdown Data by Application

Passenger Tickets Service

Onboard and Other Service

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[digitalconvo]

Dredging Market – Global Industry Analysis, Size, Share

Dredging Market: Overview

Dredging vessels are specialized vessels that are used for maritime transportation, especially for the transportation of natural materials. Dredging activities are usually taken to deepen or widen the sea bottom or sea channel. The drive for keeping waterways and ports navigable is a key trend in the evolution of the dredging market. A range of underwater construction activities are made possible by the creation of new ports, land reclamation, and coastal protection. Burgeoning water-borne trade in several parts of the world has helped spurred the prospects in the dredging market. Strides being made by maritime construction industry have bolstered the expansion of the dredging market.

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Seaborne trade is one of the key indicators of economic activity. Rising demand for expanding maritime activities in developing nations has helped in the evolution of the dredging market. Mining industry is one of the primary end users of dredging vessels. An example is the use of hydraulic dredges to transport water-ore mixture directly into the plant.

Key product types are cutter suction dredger, suction dredger, barge unloading dredger, and trailing suction hopper dredger.

Dredging Market: Key Trends

Rapid pace of urbanization is a key trend has pushed a significant part of population to coastal areas. Reclaiming of coastal areas is also boosting the expansion of the dredging activities. The dredging market has also gathered traction from rise in tourism activities that involve keeping beaches in good condition. Rising demand for oil and gas, has led energy exploration companies have to look toward remote areas. Rising demand for dredging services in oil and gas industry and beaches is boosting the dredging market.

The growing demand for anti-sludge pathways for boats is also boosting the dredging market. In recent years, more and more coastal areas are experiencing floods, which has generated interest in dredging market. However, sometimes the high cost of dredging activities has dampened the demand in the mining industry.

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Dredging Market: Competitive Analysis and Key Developments

Players in the dredging market are expected to increasingly focus on offering dredging wheels to meet the demands for heavy minerals mining. In 2019 Jan De Nul Group has launched its fourth Ultra-Low Emission vessel (ULEv) in Singapore, which is a medium-sized green vessel. The dredging vessels feature advanced exhaust gas filtering system. The emission control technology is compliant with land and inland waterways emission regulations. Over the years, more such product launches have kept the dredging market lucrative.

Many players are getting into agreements and contracts to consolidate their positions in the dredging market. Cases in point are Great Lakes Dredge & Dock Corporation and National Marine Dredging Company.

Some of the other players in the dredging market are Weeks Marine, Inc., Coastal Dredging Company, Inc., Van Oord N.V., Great Lakes Dredge and Dock Co., Jan De Nul N.V., and Royal Boskalis Westminster N.V.

Dredging Market: Regional Analysis

Some of the regions in the dredging market are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America and the Middle East have been lucrative markets. The growth is on the back of rapid strides made by oil and gas industry. Rise in investments on building new dredging vessels is opening new revenue streams in Asia Pacific. Players in the regional market are also focusing on meeting the rising demand in the mining industry.

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[jacobwill176]

Covid-19 Impact on Global Maritime Tourism MarketSize, Share, Development and Forecast Overview forecast year 2020

A new market study, titled “Covid-19 Impact on Global Maritime Tourism Market Size, Status and Forecast 2020-2026” has been fe…

Maritime tourism refers to those recreational activities which involve travel away from one’s place of residence and have the marine environment or inland waters/waterways as their host or focus, such as sailing, boating, yachting, cruising, nautical sports, Sea angling, Marine wildlife watching and some emerging activities like Sea kayaking, Coastal Rowing, Surfing, Windsurfing etc.

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Maritime Tourism market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

This report also analyses the impact of Coronavirus COVID-19 on the Maritime Tourism industry.

Based on our recent survey, we have several different scenarios about the Maritime Tourism YoY growth rate for 2020. The probable scenario is expected to grow by a xx% in 2020 and the revenue will be xx in 2020 from US$ xx million in 2019. The market size of Maritime Tourism will reach xx in 2026, with a CAGR of xx% from 2020 to 2026.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Maritime Tourism market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Maritime Tourism market in terms of revenue.

Players, stakeholders, and other participants in the global Maritime Tourism market will be able to gain the upper hand as they use the report as a powerful resource. For this version of the report, the segmental analysis focuses on revenue and forecast by each application segment in terms of revenue and forecast by each type segment in terms of revenue for the period 2015-2026.

Regional and Country-level Analysis

ALSO READ: https://wiseguyreports.wordpress.com/2020/08/12/impact-of-covid-19-outbreak-on-maritime-tourism-market-2020/

The report offers an exhaustive geographical analysis of the global Maritime Tourism market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.The report includes country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.

Competition Analysis

In the competitive analysis section of the report, leading as well as prominent players of the global Maritime Tourism market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.

On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Maritime Tourism market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Maritime Tourism market.

The following players are covered in this report:

Carnival Corporation

Royal Caribbean

Norwegian Cruise Lines

MSC Cruises

Genting Hong Kong

Disney Cruise

Silversea Cruises (Royal)

Dream Yacht Charter

Maritime Tourism Breakdown Data by Type

Cruise Tourism

Yachting and Sailing Tourism

Other

Maritime Tourism Breakdown Data by Application

Passenger Tickets Service

Onboard and Other Service

FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5299237-covid-19-impact-on-global-maritime-tourism-market

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Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

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[hudsonespie]

Protecting Ports' Working Waterfronts

[By Hannah L. Harrison]

For three generations, the Minor family — today brothers Carson and Landon and their father Paul — have been up before first light to board their fishing tug and make their way to their fishing grounds on Lake Erie.

Most mornings, the Minors leave from Port Colborne, Ont., a small port city that sits at the entrance to the Welland Canal on the eastern end of Lake Erie. Each afternoon they return to the port to unload their fresh catch of perch and pickerel. Some of their catch is sold locally to eateries up and down Lake Erie’s north shore, and most is eaten within the Great Lakes region.

A few months ago, though, the Minors returned from a day of fishing to find their unloading zone under construction to make way for a new cruise ship dock. Without warning, the unloading zone their family had used for more than 70 years was blocked off. They were forced to move to a new port further away from their fishing grounds, increasing travel time and putting them at greater risk during bad weather.

The Minors have tried to address these problems with local leadership, but they have yet to find a tenable, long-term solution.

Carson (left) and Landon Minor (right) pull nets from the eastern waters of Lake Erie. Most of the perch, pickerel, and other species they catch on their quota are eaten within 250 kilometres of the Great Lakes. (Hannah Harrison), Author provided

The slow decline of working waterfronts

The Minors’ story is not new, nor is it isolated. Working waterfront access — the access needed by fishing folks to unload their catch, process fish and retrieve ice and fuel — is being affected by coastal gentrification, also called “coastal grabbing” by researchers who study these changing waterfronts.

For decades, tourism-oriented development and high-end waterfront housing have slowly been supplanting working waterfront infrastructure. But as more people work from home and are shifting from urban to rural residences, they may be unaware of the less palatable aspects of living near working waterfronts.

The rural esthetic of colourful fishing tug boats can also come with early morning noise, bright lights and unpleasant smells.

Ports such as Port Dover on the north shore of Lake Erie are seeing high-end condo development on their historic waterfront. These new residences also happen to be just a few hundred metres from the Port Dover commercial fishing basin. Will future condo owners, who bought the advertising of condos immersed in a fishing landscape, also enjoy the sound of diesel engines starting at 5 a.m. most mornings, or the occasional odor of fish on the breeze?

Tourists flock to Port Dover in the summer months to enjoy a perch dinner by the beach and watch the fishing tugs come in, but few wander over to appreciate the many moving pieces that get fish from the boat to their plates. This disconnect is a broken link in our understanding of seafood supply chains, and our food systems as a whole.

Understanding seafood chains

Canada is the sixth largest seafood exporter in the world, sending over two-thirds of domestically caught seafood to foreign markets. Yet a substantial portion of the seafood actually eaten by Canadians is imported, often from less sustainable fish stocks than those harvested in Canadian waters, and from supply chains that struggle with traceability and labelling.

While the export-driven nature of Canada’s seafood industry has been quite profitable for large players, it has led to the increasing consolidation of licences, quota and other key fishing infrastructure into the hands of fewer and fewer individuals. This trend has, in turn, driven up the cost of entry into many fisheries across Canada, in part preventing new generations of fishermen from entering the industry.

Decline and consolidation of working waterfronts have also made Canadian fisheries more vulnerable to crisis, such as what we saw in the spring of 2020 when the COVID-19 pandemic shuttered fisheries around Canada (and the world) as global seafood markets temporarily collapsed. Some of those fisheries already underway found themselves with nowhere to sell or process their catch.

As seafood became unavailable from traditional retailers, such as grocery stores and restaurants, consumers turned to local fishermen. This created a pandemic bump in demand for local seafood products and sales. While some harvesters were able to adapt their operations, many fishers without appropriate infrastructure to process their catch were left high and dry.

Policies to keep waterfronts working

Fortunately, awareness and protection of working waterfronts is happening on several fronts. The Working Waterfront Network in the United States has developed a Sustainable Working Waterfronts Toolkit. Closer to home, the Canadian Science Policy Centre recognized a policy proposal on working waterfronts as their 2020 Science Policy Award of Excellence — Youth Category.

Working waterfront revitalization projects in Nova Scotia, as well as stories of waterfront challenges across Canada, have also received attention in recent years. In the U.S., groups like the Maine Coast Fisherman’s Association have made significant strides in identifying ways to protect existing working waterfront access and infrastructure.

From a Canadian policy standpoint, there are several options to strengthen working waterfront protections. Policy-makers could strengthen existing right-to-farm legislation, such as Ontario’s Farm and Food Production Protection Act or British Columbia’s Farm Practices Protection Act. In Ontario, this legislation asserts that agricultural areas, uses and normal farm practices should be promoted and protected in a way that balances the needs of farmers with public health, safety and environmental concerns.

While Great Lakes fisheries ostensibly fall under this act as part of food production, the act’s language only makes specific mention of “cultured fish.” In short, wild-caught fisheries may be excluded from the protections of the act, both in Ontario and elsewhere. This oversight could be amended to protect not only Canadian wild-caught fisheries, but also the working waterfronts that support them.

Landon Minor looks up the cement wall to where Paul Minor waits to unload a tote of yellow perch. The Minors must now unload up a vertical wall and over a railing in an active pedestrian walkway — an activity that will grow more dangerous in the summer months when they will share the walkway with tourists. (Hannah Harrison), Author provided

Alternatively, a localized movement to protect normal seafood harvester activities could also be effective at safeguarding waterfront access and infrastructure. Local or regional ordinances establishing a similar right-to-fish policy in coastal fishing communities could be a viable first step, as could establishing public trust doctrines that preserve public access and use of waterfronts over private interests.

Whatever route is taken, protecting working waterfronts is an essential step toward protecting fishing livelihoods and the food they provide.

Hannah L. Harrison is a postdoctoral scholar in the Department of Geography at the University of Guelph.

This article appears courtesy of The Conversation and may be found in its original form here.

  from Storage Containers https://maritime-executive.com/article/protecting-ports-working-waterfronts via http://www.rssmix.com/

[wiseguy111]

The “Coastal and Maritime Tourism Market” reportanalyse the market by countries, by type, by application and by manufacturersand market share by key countries and regions level.

[latestanalysis]

Global Ports and Terminal Operations Market Size, Share, Industry Growth Analysis by Types, Applications and Key Players

Global Ports and Terminal Operations Market

Global Ports and Terminal Operations market was valued at US$ 3,135.3 Mn in 2020 and it is expected to reach at US$ 6,030.0 Mn by 2027, growing at CAGR 9.9% during the period, 2017-2027. Increasing seaborne trade across the globe will prominently drive the port terminal market size. According to the United Nations Conference on Trade and Development (UNCTAD), in 2018, the seaborne trade surged by around 4% as compared to 2017. The sea freight services provide multiple benefits such as large cargo space availability, economical & safety. Expansion of maritime logistics services will drive the industry growth over forecast period.

Europe is expected to witness the highest CAGR during the forecast period. Ports in Europe are smaller; however, handle a large amount of cargo. Also, the European ports are not capable of competing on port size alone as ports with comparatively less size or capacity handle as much traffic as large-sized ports. Therefore, even moderately & scarcely busy ports are increasingly shifting towards smart operations. For Example, in Germany, the Port of Rotterdam had partnered with IBM to implement smart sensors across the 42-kilometer-long stretch of the port.

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Asia Pacific dominated the market and accounted for more than 30% of the global revenue share in 2019. The region is characterized by the presence of major ports with high throughput capacity, thereby contributing to the largest share worldwide. Countries including Japan, China, South Korea, and Singapore are the major countries recognized as prime trading points involving large amounts of trade activities. The aforementioned factor with the availability of technologies at a relatively lower cost, especially from countries including Taiwan & China has ensured strong growth in the region.

Market Trends

Smart port is growing trend in port terminal and operation market. The increase in need to curb operational expenses, gather real-time information & make data-driven decisions at port facilities is collectively driving the adoption of smart technologies among harbor authorities. Varioustechnologies including Artificial Intelligence (AI), IoT, blockchain, and process automation are used for transforming a traditional port into a smart port. These are either deployed separately or in combination to transform the conventional infrastructure into a digitalized one. The smart port offers benefits over traditional port including limited operational expenses, reduced human-related disruptions, intelligent decision making, and more predictable performance. All these benefits offered results in raised productivity thereby paving the way for a sighted vision of Port 4.0.

The global trade is growing at faster rate, this have raised vessel size, cargo volumes, traffic at port, that increases pressure on the yards & the stakeholders involved. Due to this increased pressure, the internal efficiency at operational level gets affected at the ports. Incorporating smart solutions helps in optimizing operational activities, improving efficiency and reducing logistics cost. Sensors installed at the ports helps in monitoring infrastructure, scheduling maintenance activities & optimizing many other operational activities. Thus, demand for operational efficiency at ports may accelerate the growth for the smart port market, throughout the forecast period.

Market Drivers: Rising Government efforts for promote the ports sector

Ports constitute an essential economic activity in coastal areas. Also, Ports are important for the support of economic activities in the hinterland since they act as a crucial connection between sea & land transport. Due to this, government across the various countries is focusing to promote port operation. Increasing investment & cargo traffic point towards a healthy outlook for the ports industry. Providers of services like pilotage & harboring, operation and maintenance (O&M), and marine assets such as barges & dredgers are benefiting from these investments.

For instance in India, October 2020, Union Minister has initiated the ‘Direct Port Entry Facility’ at the V.O. Chidambaranar port. This facility allow direct movement of containers from factories, without intermediate handling at any CFS (Container Freight Station), facilitating shippers to get their exports directly to the container terminal (24x7), thereby increasing efficiency & ease of doing business.

In October 2020, the Ministry of Shipping in India had announced to develop a (Marine) National Logistics Portal with end-to-end logistics solutions to help exporters, importers & service providers that helps for strengthening port operation worldwide. Impact of this driver is high during this forecast timeframe.

Market Challenges: Cyberattacks Issue

Port operators are focusing on digital transformation optimize operational activities and expand the capabilities, such asmonitoring of infrastructure, collecting real-time data and among others. This transformation is based on the technologies including big data, cloud computing, Internet of Things (IoT) & incorporation of these technologies in the system has made the ports vulnerable to cyberattacks. To utilize technologies at their full potential awareness regarding cyberattacks can be raised among the stakeholders and cybersecurity can be developed. Thus, cyberattacks can be challenging factor for the growth of the port and terminal market, during the forecast period.

Market Opportunity: Digitalization creates new opportunities in the market

Information solutions play a vital rolein port/maritime. The digital transformation in port operation and terminal, such as navigation has aided users in gathering crucial information about the activities undertaken on ports and water bodies. Port terminal information solutions assist vessels in adapting to the dynamic sea conditions by monitoring several parameters, which enable users and organizations to take better operational as well as strategic decisions. Besides this, they are associated with advantages like enhancing the overall productivity & safety, along with ensuring efficiency in marine operations. As a result, these solutions are being employed for acquiring data about the ownership, movements, specifications and commercial activities of naval vessels. Hence digitalization creates new opportunities on the global port and terminal market.

Growth Prospect Analysis

The port or maritime sector is of crucial importance to modern societies. Nevertheless, general public have a limitedperception and appreciation of its influence and role as an essential element in terms of social and economic development, and as a potential source of excellent employment & career opportunities, with several million people currently working in activities &companies directly and indirectly related to oceans & seas across the world. Historically, the shipping & fishing industry have experienced a continuing trend of increase both in their fleets & in the total trade volume &fishing capacity respectively. Approximately 50,000 merchant ships, registered in over 150 nations & manned by over a million seafarers of nearly every nationality, transport every kind of cargo internationally. Several thousand oil rigs and support & supply offshore vessels are engaged in the exploration & drilling for oil and gas in almost every corner of the globe. Nearly four million commercial fishing vessels ply the seas & oceans at any given moment. And a myriad of recreational ships (approximately 45,000 privately-owned ships operating out of the US in December 2010), including several hundred large & mega cruise ships, provide the most diversified leisure & tourism services to an expanding market.

Maritime activities therefore continue to expand, bringing benefits for people worldwide thanks to a increasing efficiency of technical & human resources. The offshore oil sector, merchant navy, commercial fishery and cruise companies are part of the industry of the future & the maritime industry is already a key catalyst for socio-economic development & international competitiveness in a changing world, with new organizations emerging & establishing operations in Asia, Europe, and North America.

Recent Developments

In January 2020: APM Terminals has introduced application programming interface (API) accessibility to build stronger, digital supply chains for logistics customers. APIs allow data to be transmitted in just seconds from the terminals’ operating systems directly to customer’s own transport management or logistics systems. The exponential increase in ecommerce and the urgency of home deliveries brought on by the COVID-19 pandemic has highlighted the fact that for some customers, the delivery experience has become integral to the product itself. For companies wanting to gain a competitive edge, getting this right is essential.

In July 2020: China Merchants Port Holdings Co., Ltd. and its subsidiaries including China Merchants Holdings (International) Information Technology Co., Ltd. ("CMHIT") has held a Cloud Signing ceremony with the Thessaloniki Port Authority S.A.(“ThPA”) in Shenzhen, Greece and Hong Kong. The three companies have signed two agreements on the strategic cooperation and port information system. "CM Core" developed by CMHIT is the core of a Smart Information Service Platform. As per the agreement, ThPA will be the first to install CTOS system in the European market, as a demonstration and promotion window for the TOS project and related IT solutions to enter the European market; CMPort will take the advantage of its influence and port network to enhance the reputation of Thessaloniki Port Authority & promote the port of Thessaloniki to become an important port for goods entering and leaving Europe.

In December 2020: Hutchison Port Holdings Trust is focusing to expand its business in international market. In order to achieve this, the company is focusing on partnership strategy. For instance, Québec Port Authority has entered into a long-term commercial agreement with Hutchison Ports and CN (Canadian National Railway) to build and operate the new container terminal. Projected to cost $775 million, the Quebec Container Terminal, operated by Hutchison Port Holdings (HPH) & Canadian National (CN), will open in early 2024. With this partnership, Hutchison Ports & Québec Port Authority & CN Rail to develop the Québec container terminal

Market Segmentation

The Global Ports and Terminal Operations Market is segmented by service such as Stevedoring, Cargo and handling transportation, and Others, by application such as Food Transportation, Coal Transportation, Steel Transportation, and Others.

Also, the Global Ports and Terminal Operations Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are listed in this report such as APM Terminals, China Merchants Port Holdings Co. Ltd., COSCO SHIPPING LINES CO.LTD, DP World, EUROKAI GmbH & Co.KGaA, Hutchison Port Holdings Trust, International Container Terminal Services Inc., Ports America Inc, PSA International Pte. Ltd, and SAAM.

Market Taxonomy

By Service

Stevedoring

Cargo and handling transportation

Others

By Application

Food Transportation

Coal Transportation

Steel Transportation

Others

By Region

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

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About Us

QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.