Deck Machinery Market Propelling Growth: Examining Growth Drivers, Regional Scope, CAGR Estimates, Developing Technology

Deck Machinery Market Overview:

The deck machinery market is expected to reach USD 3,707.03 Million by 2030, growing at a CAGR of 5.5% from 2023 to 2030. Deck machinery refers to the essential equipment used on ships for mooring, anchoring, cargo handling, and other deck operations.

Deck Machinery Market Drivers:

Focus on operational efficiency: Shipbuilders and operators are increasingly focusing on fuel efficiency and automation, leading to demand for advanced deck machinery solutions.

Expanding offshore wind and oil & gas industries: Growth in these sectors is creating demand for specialized deck machinery for handling heavy components and operating in harsh environments.

Stringent environmental regulations: Regulations aimed at reducing emissions are pushing the development of electric and hybrid deck machinery solutions.

Rising demand for new ships: Increasing maritime trade and growing economies are driving the demand for new ships, consequently boosting the deck machinery demand.

Deck Machinery Market Segmentation:

By System: Electrical, Steam, and Hydraulic

By Product Type: Winch, Anchoring System, Capstan, Windlass, Lifting and Handling equipment

By Application: Cargo Vessels, Oil Tankers, and Ferry

By Region: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Deck Machinery Market Key Players:

AMGC

Coastal Marine Equipment

Funz San Industry

Kawasaki Heavy Industries

MacGregor

Marine Equipment Pellegrini

PALFINGER AG

PaR Systems

Rapp Marine

Towimor

TTS Group ASA

Wartsila

Deck Machinery Market Regional Analysis:

Asia Pacific is the largest and fastest-growing market, driven by China’s shipbuilding industry.

Europe is a mature market with a strong presence of key players.

North America is expected to witness steady deck machinery market growth due to investments in offshore wind and oil & gas industries.

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March 20, 2024

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