Marine Watertight Doors Market 2022 - By Type, By Ship Type, By Material Type, By Sales Channel & Global Region - Market Size, Trends, Opportunity, Forecast 2027
Marine watertight door is a door specifically used to stop the access of water from one compartment to another during flooding or collision of a ship. It also acts as a safety barrier by limiting the water spread inside the vessel of the ships and other marine vehicles. The manufacturing of marine watertight door is complex as it needs to be strong and stiff for the prevention of high pressure and load of water. Therefore, it is usually made from stainless steel and aluminumthat provides the door excellent durability, strength and prevents corrosion by saline water. Due to its capability to restrict the entry of water, these doors are used in various marine vehicles such as cruiser, yachts, coastal military petrol vessels, and combat ships.
The market for marine watertight door is expected to reach rise at a CAGR of 5.9percent during the forecast period. Rapidly growing shipping and fishing activities around the globe drives the growth of the Marine Watertight Door Market.
Marine industry is expected to witness significant growth due to the ongoing commercialization, globalization and growing trade practices among various economies around the world. Also, rising number of multilateral and multinational agreement in the marine industry to boost the global trade has resulted into increasing demand of marine watertight door during the forecast period. In addition, factors such as growing trend of offshore renewable energy, increasing harbours to offer shore to ship power and dispersed manufacturing are expected to drive the growth of the market. Moreover, rising awareness towards the safety of the crew members in ships and vessels have significantly contributed towards the growth of the marine watertight door market. Besides, adoption of advanced technologies for manufacturing various carbon friendly and fuel-efficient ships has resulted into the growth of shipbuilding industry. This in turn is expected to further drive the growth of marine watertight door market. Furthermore, growing investment in submarine and warships, surge in cruise industry owing to rising sea tourism and increasing ocean expenditure are the factors expected to propel the growth of the market during the forecast period.
Throughout the forecast period, hinged watertight doors holds the highest share of the marine watertight door market. This is due to the factors such as rising watertight bulkhead of the engine room and increasing application of steering compartment.
With the growing demand of stainless steel for building watertight doors, the stainless steel is expected to dominate the market on the basis of material type. The capability of the stainless-steel material to prevent the corrosion from saline sea water and provide excellent strength & durability are the factors contributing towards the growth of the segment in the marine watertight door market.
MARINE WATERTIGHT DOOR MARKET SEGMENTATION:
- Sliding Watertight Door
- Hinged Watertight Door
By Ship Type:
- Transportation & general Cargo
- Offshore Support Vessels
- Bulk Carriers
- Cruise & Passenger Ships
- Fishing Vessel
- Naval Ships & Vessels
By Material Type:
- Cast Iron
- Stainless Steel
By Material Type:
- OEM (Original Equipment Manufacturer)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Asia Pacific is likely to be the most profitable region during the forecast period. This is attributed to the factors such as increasing shipbuilding industry, rising manufacturing industry and surge in sea tourism. Also, countries such as Singapore, China and Japan are major contributor towards the growth of marine watertight door market in this region. Growing emphasis on the use of natural gas by developing nation in Southeast Asia along with the surging exploration activities are expected to drive the demand for off-shore vessels. This in turn boosts the demand of marine watertight door market in the Southeast Asia Market.
On the other hand, growing industrialisation, commercialization and rising demand of consumer goods has led to the increasing rate of transportation across Middle East and Africa. This factor has driven the growth of marine industry which in turn is estimated to fuel the growth of marine watertight door market.
However, North America and Europe is expected to show prominent growth rate throughout the forecast period. This is due to the rising disposable income in these regions which has driven the international trade. In addition, surging marine and coastal tourism in Europe is expected to boost the growth of the marine watertight door. Moreover, growing demand of durable and cost reliable shipbuilding products in North America and Europe is projected to accelerate the growth of marine watertight door market in these regions.
FEW KEY PLAYERS IN MARINE WATERTIGHT DOOR MARKET:
- Westmoor Engineering
- Baier Marine
- AdvanTec Marine
- Shanghai Zhiyou Marine & Offshore Equipment Co.,Ltd
- Railway Specialties Corporation
- Cen-Tex Marine Fabricators, Inc.
- Godrej Security Solutions
- Standard Equipment Company, Inc.
- MML Marine Limited
- Juniper Industries, Inc.
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