Market Overview:
The global ship spares and equipment market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for commercial vessels, rise in maritime trade, and increase in investments in infrastructure development. Based on type, the market is segmented into containers, bulk carriers, transportation and general cargo, cruise ships, and others. The containers segment is expected to grow at a CAGR of 6% from 2018 to 2030. This growth can be attributed to the increasing demand for containerized cargo transport across the globe. Based on application, the market is divided into commercial applications such as ports & terminals operations; shipping & logistics; passenger transportation; fishing industry; naval defense sector; oil rigs & platforms support services etc., infrastructural applications such as construction of bridges/roads/railways over water bodies etc., and residential applications such as houseboats etc. Commercial application held majority share of 49% in 2017 and it is projected that it will maintain its dominance during forecast period owing rising maritime trade activities around world coupled with ongoing investments towards modernization of seaports infrastructure globally .
Product Definition:
Ship spares and equipment are items that are essential to the operation of a vessel. They include items such as anchors, moorings, engine parts, and navigational tools. Ship spares and equipment are important because they allow vessels to continue operating safely and efficiently. Without them, ships would be unable to reach their destinations or perform necessary tasks while at sea.
Containers:
Containers are portable units that can be used to store, transport and handle various types of goods. They are widely used for the storage of manufactured goods in transportation as well as during handling operations at ports and other shipping related activities. The demand for containers is expected to witness significant growth over the forecast period owing to their ability to provide safety from damage or loss of cargo during loading, unloading, transit or while it is in process.
Bulk Carriers:
Bulk Carriers are used to transport goods in large quantities. They are designed for carrying heavy loads over a long distance and can be utilized by the shippers who have bulk cargoes to distribute across various regions. The carriers can be either owned or rented as per the requirements of the clients. Bulk carrier rates depend upon various factors such as type, capacity, location, transportation mode (waterborne or land-based), and seasonality among others.
Application Insights:
The commercial application segment accounted for the largest share of more than 60.0% in 2017. The growth can be attributed to the increasing demand for containers and other shipboard equipment across various sectors, such as food and beverage, chemicals, medical supplies, petroleum products among others. Container ships are used by several companies to transport their goods from origin to destination on a single vessel saving both time and cost as compared to conventional methods of transportation.
Infrastructural applications include construction materials along with household or consumer goods that require regular shipments between cities or remote areas with limited road connectivity. These applications primarily involve long-distance transportation of heavy machinery parts including turbines along with associated components on account of their weight capacity which exceed the carrying capacity of container ships serving these routes resulting in higher utilization rates for vessels engaged in these types of trade lanes at present times coupled with projected growth over the next few years thereby contributing towards market expansion during this period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing strong economic growth on account of increasing foreign investments, which are majorly attracted towards infrastructure development projects. Increasing demand for containers across various applications, such as consumer goods, industrial machinery and equipment is also expected to drive the regional market over the forecast period.
Europe was valued at USD X billion in 2017 owing to rising trade activities between European countries and other regions across globe. Countries such as Germany have a strong presence of ship owners who own both types of vessels (dry bulk carriers & container ships) thereby contributing towards regional growth significantly.
Growth Factors:
- Increasing demand for maritime transportation: The global seaborne trade has been registering a steady growth in the past few years. This is primarily attributed to the increasing demand from emerging economies, especially in Asia Pacific. As a result, the ship spares and equipment market is expected to grow at a CAGR of over 4% during the forecast period.
- Proliferation of new shipping technologies: With advancements in technology, there has been an increase in the adoption of new shipping technologies such as containerization and LNG-powered ships. This is likely to drive the demand for ship spares and equipment over the next few years.
- Growing maritime infrastructure investments: Governments across different regions are investing heavily in developing their maritime infrastructure capabilities, which is expected to spur growth in the ship spares and equipment market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Ship Spares and Equipment Market Research Report
By Type
Containers, Bulk Carriers, Transportation and General Cargo, Cruise, Others
By Application
Commercial, Infrastructural, Residential
By Companies
Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, Samsung Heavy Industries, Mitsubishi Heavy Industries, STX Offshore and Shipbuilding, China Shipbuilding Industry, Sumitomo Heavy Industries, Hanjin Heavy Industry, Hyundai Heavy Industries
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
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.
Global Ship Spares and Equipment Market Report Segments:
The global Ship Spares and Equipment market is segmented on the basis of:
Types
Containers, Bulk Carriers, Transportation and General Cargo, Cruise, Others
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, Infrastructural, Residential
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:
- Hyundai Heavy Industries
- Daewoo Shipbuilding and Marine Engineering
- Samsung Heavy Industries
- Mitsubishi Heavy Industries
- STX Offshore and Shipbuilding
- China Shipbuilding Industry
- Sumitomo Heavy Industries
- Hanjin Heavy Industry
- Hyundai Heavy Industries
Highlights of The Ship Spares and Equipment 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:
- Containers
- Bulk Carriers
- Transportation and General Cargo
- Cruise
- Others
- By Application:
- Commercial
- Infrastructural
- Residential
- 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 Ship Spares and Equipment 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
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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?
Ship spares and equipment are items that a ship needs in order to function, but which are not essential for the safety of passengers or crew. These items may include things like screws, bolts, and other hardware used on the ship's hull.
Some of the key players operating in the ship spares and equipment market are Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, Samsung Heavy Industries, Mitsubishi Heavy Industries, STX Offshore and Shipbuilding, China Shipbuilding Industry, Sumitomo Heavy Industries, Hanjin Heavy Industry, Hyundai Heavy Industries.
The ship spares and equipment market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Ship Spares and Equipment 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 Ship Spares and Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Ship Spares and Equipment 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 Ship Spares and Equipment 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 Ship Spares and Equipment Market Size & Forecast, 2020-2028
4.5.1 Ship Spares and Equipment Market Size and Y-o-Y Growth
4.5.2 Ship Spares and Equipment 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 Containers
5.2.2 Bulk Carriers
5.2.3 Transportation and General Cargo
5.2.4 Cruise
5.2.5 Others
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 Commercial
6.2.2 Infrastructural
6.2.3 Residential
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Ship Spares and Equipment 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 Ship Spares and Equipment 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 Containers
9.6.2 Bulk Carriers
9.6.3 Transportation and General Cargo
9.6.4 Cruise
9.6.5 Others
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 Commercial
9.10.2 Infrastructural
9.10.3 Residential
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 Containers
10.6.2 Bulk Carriers
10.6.3 Transportation and General Cargo
10.6.4 Cruise
10.6.5 Others
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 Commercial
10.10.2 Infrastructural
10.10.3 Residential
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 Containers
11.6.2 Bulk Carriers
11.6.3 Transportation and General Cargo
11.6.4 Cruise
11.6.5 Others
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 Commercial
11.10.2 Infrastructural
11.10.3 Residential
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 Containers
12.6.2 Bulk Carriers
12.6.3 Transportation and General Cargo
12.6.4 Cruise
12.6.5 Others
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 Commercial
12.10.2 Infrastructural
12.10.3 Residential
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 Containers
13.6.2 Bulk Carriers
13.6.3 Transportation and General Cargo
13.6.4 Cruise
13.6.5 Others
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 Commercial
13.10.2 Infrastructural
13.10.3 Residential
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 Ship Spares and Equipment Market: Competitive Dashboard
14.2 Global Ship Spares and Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hyundai Heavy Industries
14.3.2 Daewoo Shipbuilding and Marine Engineering
14.3.3 Samsung Heavy Industries
14.3.4 Mitsubishi Heavy Industries
14.3.5 STX Offshore and Shipbuilding
14.3.6 China Shipbuilding Industry
14.3.7 Sumitomo Heavy Industries
14.3.8 Hanjin Heavy Industry
14.3.9 Hyundai Heavy Industries
