Market Overview:
The global salvage ship market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for inland salvage ships, ocean salvage ships, and floating trash salvage ships due to the increase in maritime accidents and marine pollution. In addition, the growing demand for equipment salvages and afloat salvages are also contributing to the growth of this market. However, lack of awareness about maritime safety regulations among end-users may restrain the growth of this market during the forecast period. Based on type, the global salvage ship market can be segmented into inland salvage ship and ocean Salvage Ship. Inland Salvage Ship dominates this market with a share of more than 60%. This dominance is majorly attributed to their ability tow or move large objects such as barges, tankers or other vessels in difficult terrains such as rivers or canals which are not accessible by ocean-going vessels.
Product Definition:
A salvage ship is a vessel that is used to help rescue people or vehicles from the water. The importance of a salvage ship is that it can provide assistance to people who are in danger and need help.
Inland Salvage Ship:
Inland Salvage Ship (ISS) is a vessel designed for recovering valuable and heavy machinery from water bodies. It is used towing, pushing or carrying away the disabled or aground vessels. The inland ships are mainly used in the inland waterways of Europe, Asia Pacific and North America regions for towing & pushing off vessels that have grounded on banks, rocks or are otherwise stuck in shallow water.
Ocean Salvage Ship:
Ocean salvage ship is a vessel that is used for towing or recovering ships that are disabled or stranded on the beach. It may also be used for removing the remains of ships that have been destroyed in collisions at sea/harbour. Ocean salvage ship can be either a self-propelled floating device, which is known as a lifeboat, or it can be pushed by powerful rollers into water depth and then pulled by another vessel (known as the tow boat) towards the shore.
Application Insights:
The shipwreck salvage segment dominated the global market in 2017 and is expected to witness significant growth over the forecast period. The rise in maritime accidents has resulted in an increase in number of abandoned ships on shore, which attracts scavengers. Also, a rise in tourism and interest among marine archaeologists for exploration of historical wrecks has increased demand for such services.
The floating trash salvage segment is also expected to grow at a considerable rate during the forecast period owing to increasing awareness about environmental issues coupled with rising disposable income levels among consumers across various regions including Asia Pacific and North America. Rising popularity of recreational fishing has led to an increase junk being caught by fishermen as well as by-catch from commercial fishing activities, which attracts attention of authorities concerned about disposal practices affecting marine life. Such factors are likely to result into increased utilization of such vessels for removal operations at sea thereby fueling market growth during the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness a growth rate of over 5% from 2018 to 2030. This can be attributed to increasing shipwrecks in the Gulf of Mexico and other bodies of water, rising oil & gas exploration activities, and growing offshore drilling projects across U.S., which ultimately leads to an increase in marine accidents and incidents along with an influx of ships for wreck salvage operations.
Asia Pacific is anticipated to grow at a lucrative rate during the forecast period owing to several factors such as rise in shipping activities due to economic development coupled with rapid industrialization leading to increased demand for transportation services among various industries located within Asia Pacific region thus resulting into increased number of shipwrecks thereby creating opportunities for industry players over the next eight years.
Growth Factors:
- Increasing demand for recycled products: The global market for recycled products is expected to grow at a CAGR of more than 5% from 2016 to 2020. This growth can be attributed to the increasing awareness about the benefits of recycling among consumers and businesses. Salvage ships play an important role in recycling by collecting and transporting recyclable materials from various locations to processing facilities.
- Rising environmental concerns: The growing population and their ever-increasing demand for resources has resulted in increased levels of pollution and waste generation. This has led to a heightened awareness among people about the need to protect the environment, which is driving them towards sustainable practices such as recycling. Salvage ships help recycle waste materials efficiently, thus reducing environmental pollution.
- Technological advancements: The salvage ship industry is witnessing rapid advancements in technology, which is helping improve operational efficiency and safety standards across the board. For instance, new technologies such as remotely operated vehicles (ROVs) are being used increasingly for underwater operations, thereby reducing human intervention and risk exposure significantly . Such technological advances are aiding in boosting growth prospects of the salvage ship market globally .
Scope Of The Report
Report Attributes
Report Details
Report Title
Salvage Ship Market Research Report
By Type
Inland Salvage Ship, Ocean Salvage Ship
By Application
Ship Wreck Salvage, Floating Trash Salvage, Afloat Salvage, Equipment Salvage, Others
By Companies
Wärtsilä, Gulf Island Fabrication, Damen Shipyards, Nautic, Zamakona Yards Group, Donjon Marine, Cheoy Lee Shipyards, Eastern Shipbuilding
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
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Salvage Ship Market Report Segments:
The global Salvage Ship market is segmented on the basis of:
Types
Inland Salvage Ship, Ocean Salvage Ship
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
Ship Wreck Salvage, Floating Trash Salvage, Afloat Salvage, Equipment Salvage, Others
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:
- Wärtsilä
- Gulf Island Fabrication
- Damen Shipyards
- Nautic
- Zamakona Yards Group
- Donjon Marine
- Cheoy Lee Shipyards
- Eastern Shipbuilding
Highlights of The Salvage 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:
- Inland Salvage Ship
- Ocean Salvage Ship
- By Application:
- Ship Wreck Salvage
- Floating Trash Salvage
- Afloat Salvage
- Equipment Salvage
- Others
- 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 Salvage 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.
How you may use our products:
- Correctly Positioning New Products
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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?
Salvage ship is a ship that is used to salvage ships and other maritime objects in distress.
Some of the major players in the salvage ship market are W¤rtsil¤, Gulf Island Fabrication, Damen Shipyards, Nautic, Zamakona Yards Group, Donjon Marine, Cheoy Lee Shipyards, Eastern Shipbuilding.
The salvage 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 Salvage 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 Salvage Ship Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Salvage 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 Salvage 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 Salvage Ship Market Size & Forecast, 2020-2028
4.5.1 Salvage Ship Market Size and Y-o-Y Growth
4.5.2 Salvage Ship Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Inland Salvage Ship
5.2.2 Ocean Salvage Ship
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Ship Wreck Salvage
6.2.2 Floating Trash Salvage
6.2.3 Afloat Salvage
6.2.4 Equipment Salvage
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Salvage 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 Salvage 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Inland Salvage Ship
9.6.2 Ocean Salvage Ship
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 Market Size Forecast by Applications
9.10.1 Ship Wreck Salvage
9.10.2 Floating Trash Salvage
9.10.3 Afloat Salvage
9.10.4 Equipment Salvage
9.10.5 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Inland Salvage Ship
10.6.2 Ocean Salvage Ship
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 Market Size Forecast by Applications
10.10.1 Ship Wreck Salvage
10.10.2 Floating Trash Salvage
10.10.3 Afloat Salvage
10.10.4 Equipment Salvage
10.10.5 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Inland Salvage Ship
11.6.2 Ocean Salvage Ship
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 Market Size Forecast by Applications
11.10.1 Ship Wreck Salvage
11.10.2 Floating Trash Salvage
11.10.3 Afloat Salvage
11.10.4 Equipment Salvage
11.10.5 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Inland Salvage Ship
12.6.2 Ocean Salvage Ship
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 Market Size Forecast by Applications
12.10.1 Ship Wreck Salvage
12.10.2 Floating Trash Salvage
12.10.3 Afloat Salvage
12.10.4 Equipment Salvage
12.10.5 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Inland Salvage Ship
13.6.2 Ocean Salvage Ship
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) Market Size Forecast by Applications
13.10.1 Ship Wreck Salvage
13.10.2 Floating Trash Salvage
13.10.3 Afloat Salvage
13.10.4 Equipment Salvage
13.10.5 Others
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 Salvage Ship Market: Competitive Dashboard
14.2 Global Salvage Ship Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Wärtsilä
14.3.2 Gulf Island Fabrication
14.3.3 Damen Shipyards
14.3.4 Nautic
14.3.5 Zamakona Yards Group
14.3.6 Donjon Marine
14.3.7 Cheoy Lee Shipyards
14.3.8 Eastern Shipbuilding
