Market Overview:
The global double acting ship market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for commercial and governmental applications, and the rising need for efficient transportation across different regions. Based on type, the global double acting ship market is segmented into tankers, freighters, and other vessels. Tankers are further classified into crude oil tankers, product tankers (chemical & LPG), and liquefied natural gas (LNG) carriers. The freighter segment includes bulk carriers and container ships. Other vessels include ferries, Ro-Ro ships, cruise liners/passenger ships etc., which are used for specific purposes such as passenger transport or cargo transport across short distances.
Product Definition:
A double acting ship is a type of sailing vessel that has two masts and can sail in both directions. This type of ship was popular in the 18th and 19th centuries, when it was used for trading and voyages across the Atlantic Ocean.
Tankers:
The tankers, also known as the double acting ship orDA ships are a type of tanker that is specialized to transport liquid bulk such as crude oil, ethanol, methanol and other liquids in bulk. The design of this ship type has evolved over time depending on the cargo that it carries. Initially designed for transporting fuel oil they are now used for various types of liquid cargos including chemicals and grains among others.
Freighters:
Freighters and it's usage in double acting ship market is a type of vessel that has two independent propulsion systems, which are driven by different engines. The first independent engine is used to propel the vessel forward while the other one is used to provide reverse thrust for the ship.
The main advantages offered by freighters include high load capacity, large fuel reserves, and significant watertight bulkheads between holds or cells that can carry numerous pallets or containers at a time.
Application Insights:
The commercial application segment held the largest share of over 70.0% in 2017. The segment is driven by growing demand for liquid and gaseous petroleum products across the globe, including China, India, South Korea and Japan. These countries are major trading hubs and have extensive domestic markets for various commodities that include crude oil & petroleum products among others such as steel, cement etc. Therefore global double acting ship market by commercial application is expected to witness significant growth over the forecast period owing to increasing trade between these countries which in turn will fuel product demand globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to continue its dominance over the forecast period, owing to factors such as growing trade activities and increasing foreign investments. China holds a significant share in this region due to its large population and rapid economic growth. Moreover, Asia Pacific has one of the largest ports which can accommodate all types of ships from tankers to general cargo vessels thus making it an attractive destination for ship owners and operators globally.
Europe also held a considerable share in terms of revenue generation owing to factors such as rising demand for oil products coupled with government support for promoting maritime transport across the region particularly within EU countries thereby creating opportunities for double acting ship types commonly used in carrying bulk cargos including crude oil products or petroleum gas (LNG). North America is also projected to witness steady growth over the next eight years owing high consumption levels along with growing trade activities between U.S.
Growth Factors:
- Increasing demand for maritime transportation: The global seaborne trade has been growing steadily in the past few years, and is expected to grow further in the coming years, driven by the growth of global GDP and trade. This will lead to an increase in demand for maritime transportation services, including double acting ships.
- Growing popularity of LNG as a marine fuel: LNG is becoming increasingly popular as a marine fuel due to its environmental benefits over traditional fuels such as diesel and heavy fuel oil (HFO). As more shipping companies switch to using LNG as their primary marine fuel, there will be an increased need for double acting ships that are capable of carrying both cargo and LNG.
- Proliferation of megaships: Megaships are becoming increasingly common in the shipping industry, with more than 200 megaships now operational worldwide. These large vessels require specialized equipment and ports that can accommodate their size, which is driving demand for double acting ships that can handle larger cargo loads than traditional vessels.
- Development of new port infrastructure: In order to accommodate the increasing number of megaships entering service, many ports around the world are undergoing major expansions or renovations to improve their infrastructure capabilities. This includes developing new berths specifically designed for large container vessels and installing advanced loading/unloading equipment such as cranes and conveyor belts systems .This will create opportunities for suppliers of double acting ships who can provide these types of specialized vessels suited
Scope Of The Report
Report Attributes
Report Details
Report Title
Double Acting Ship Market Research Report
By Type
Tankers, Freighters, Other
By Application
Commercial, Governmental
By Companies
Sovcomflot, Zvezda, Wartsila, ABB Group, STX Corporation, Baltic Shipyard, Admiralty Shipyard, Vyborg Shipyard, Sumitomo Heavy Industries, Samsung, United Shipbuilding Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
224
Number of Tables & Figures
157
Customization Available
Yes, the report can be customized as per your need.
Global Double Acting Ship Market Report Segments:
The global Double Acting Ship market is segmented on the basis of:
Types
Tankers, Freighters, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial, Governmental
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sovcomflot
- Zvezda
- Wartsila
- ABB Group
- STX Corporation
- Baltic Shipyard
- Admiralty Shipyard
- Vyborg Shipyard
- Sumitomo Heavy Industries
- Samsung
- United Shipbuilding Corporation
Highlights of The Double Acting Ship Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Tankers
- Freighters
- Other
- By Application:
- Commercial
- Governmental
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Double Acting Ship Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A double acting ship is a vessel that can operate as both a cargo and passenger ship. This allows the vessel to transport more goods or passengers than it would be able to if it were only a cargo ship.
Some of the major companies in the double acting ship market are Sovcomflot, Zvezda, Wartsila, ABB Group, STX Corporation, Baltic Shipyard, Admiralty Shipyard, Vyborg Shipyard, Sumitomo Heavy Industries, Samsung, United Shipbuilding Corporation.
The double acting ship market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Double Acting Ship Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Double Acting Ship Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Double Acting Ship Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Double Acting Ship Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Double Acting Ship Market Size & Forecast, 2018-2028
4.5.1 Double Acting Ship Market Size and Y-o-Y Growth
4.5.2 Double Acting Ship Market Absolute $ Opportunity
Chapter 5 Global Double Acting Ship Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Double Acting Ship Market Size Forecast by Type
5.2.1 Tankers
5.2.2 Freighters
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Double Acting Ship Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Double Acting Ship Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Governmental
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Double Acting Ship Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Double Acting Ship Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Double Acting Ship Analysis and Forecast
9.1 Introduction
9.2 North America Double Acting Ship Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Double Acting Ship Market Size Forecast by Type
9.6.1 Tankers
9.6.2 Freighters
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Double Acting Ship Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Governmental
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Double Acting Ship Analysis and Forecast
10.1 Introduction
10.2 Europe Double Acting Ship Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Double Acting Ship Market Size Forecast by Type
10.6.1 Tankers
10.6.2 Freighters
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Double Acting Ship Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Governmental
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Double Acting Ship Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Double Acting Ship Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Double Acting Ship Market Size Forecast by Type
11.6.1 Tankers
11.6.2 Freighters
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Double Acting Ship Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Governmental
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Double Acting Ship Analysis and Forecast
12.1 Introduction
12.2 Latin America Double Acting Ship Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Double Acting Ship Market Size Forecast by Type
12.6.1 Tankers
12.6.2 Freighters
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Double Acting Ship Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Governmental
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Double Acting Ship Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Double Acting Ship Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Double Acting Ship Market Size Forecast by Type
13.6.1 Tankers
13.6.2 Freighters
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Double Acting Ship Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Governmental
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Double Acting Ship Market: Competitive Dashboard
14.2 Global Double Acting Ship Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sovcomflot
14.3.2 Zvezda
14.3.3 Wartsila
14.3.4 ABB Group
14.3.5 STX Corporation
14.3.6 Baltic Shipyard
14.3.7 Admiralty Shipyard
14.3.8 Vyborg Shipyard
14.3.9 Sumitomo Heavy Industries
14.3.10 Samsung
14.3.11 United Shipbuilding Corporation
