Marine Deck Machinery Market report is segmented on the basis of product type, end users and by regional & country level. Based upon product type, global marine deck machinery market is segmented into winch, windlass, capstan and others. Based upon end users global marine deck machinery market is segmented into commercial ship and leisure ship.
Marine Deck Machinery market is valued at USD 16456.03 million in 2018 and expected to reach USD 20515.54 million by 2025 with a CAGR of 3.20% over the forecast period.
The global marine deck machinery market is reliant on the performance of the global shipbuilding industry. Marine Deck Machinery is also known as ship deck machinery. As a significant part of the ship, it is a kind of automatic machinery installed on the ship's deck. Marine Deck Machinery is also a essential mechanical equipment or device for ship docking, loading and unloading cargo, passengers' getting on and off.
The regions covered in this Marine deck machinery Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Marine deck machinery is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for global Marine deck machinery market are
Increase in scrapping of ships driving the growth of global marine deck machinery market. For instance, ship recycling industry of Bangladesh observed that ships used to be scrapped after 25-30 years for safety reasons. In 1998-a bumper year- a total number of 673 ships were scrapped. However, decline in oil and gas prices restrain the growth of the market. As per Trading Economics, crude oil decreased 0.23 USD/BBL or 0.43% to 53.79 on February 2019 from 54.01 in the previous trading session. Historically, crude oil reached an all-time high of 145.31 in July. Moreover, improvement in the strength of Chinese economy opens greater opportunities in the global marine deck machinery market.
The global Marine deck machinery market is segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW). Asia-pacific dominates global marine deck machinery market. China is the leading country for commercial ship building in APAC. As per CAN Conference facility in 2015, over 90% of China’s international trade is shipped by sea of its import and export. Therefore the sector is seen as having major potential for expansion. Europe is the second largest revenue generator for the marine deck machinery market, with key focus on building complex vessels such as, naval vessels, cruise/passenger boats and LNG and LPG carrier.
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