Marine Interiors Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance, the global Marine Interiors Market size is projected to reach a CAGR of 11.9% from 2023-2030.
The marine interior market is related to designing, refitting, and delivery of internal solutions for commercial and defense ships.
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In recent years, owing to the rise in urbanization and standard of living, the demand for luxury cruise ships, yachts, and ferries is on the rise. This has led to rising demand for advanced marine interiors, which are lightweight and easy to install. Aluminium, composites, steel, and others are mainly used in making interiors of ships, owing to their capability to handle harsh environmental conditions such as humidity and moisture content. However, composite materials used are preferred since they material is light in weight and can be given complex shapes. The maritime tourism industry is the largest user of marine interiors and one of the major industries that drive the growth of the market. Moreover, development in aftermarket refurbishment of ship interiors also supports the growth of the market.
The prominent players in Marine Interiors Market are:
· R&M Group
· Almaco
· Trimline
· Kaefer
· Bourne Group
· Marine Interiors
· Mivan Marine
· Bolidt
· Forbo Flooring Systems
· Naval Interior Team and More
On the other hand, the long material lead times, limited availability, and high raw material costs can result in delayed ship delivery or order cancellation. This factor directly restricts the growth of the marine interior market.
Recent Developments
In March 2021, Cochin Shipyard Ltd (CSL) announced that it delivered passengers cum cargo vessel 'Sindhu' to Andaman and Nicobar Administration. This ship has deluxe cabins, first-class cabins, second-class cabins, bunk-class, and seating class that can accommodate a total of 500 passengers in addition to 150 tonnes of cargo.
October 2021, ALMACO announced that it would install all 109 crew cabins and crew public areas at MV WERFTEN shipyard, Germany, where the project is taking place. ALMACO also stated that they completed the areas onboard Crystal Endeavor on time before the vessel delivery. The steel-to-steel installation included interior and background outfitting.
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Europe to Dominate the Market
· Europe is estimated to account for the largest share of the marine interior market and is anticipated to maintain its dominance during the forecast period.
· The large share of this market can be attributed due to the presence of the leading manufacturers of marine interior providers such as Hella (Germany), Osram (Germany), Lumishore (UK), and Foresti & Saurdi (Italy) in this region. Countries such as Norway and Greece have a large number of passenger as well as commercial ships.
Key Findings
· The ship type segment is further fragmented into Commercial and Defense. The commercial segment of the marine interior market is projected to grow at the highest CAGR during the forecast period. The demand for interiors is majorly dependent on the cruise ship, and yachts’ new order books and drydock schedule.
· The material segment is further fragmented into Aluminium, Steel, Composites, Joinery, and Others. The composites segment is expected to grow at the highest rate and is anticipated to maintain its dominance during the forecast period. Composites offer considerable potential in weight saving and in developing complex shapes.
· The end-user segment is further fragmented into New Fit and Refit. The refit segment is expected to grow at a higher rate and is anticipated to maintain its dominance during the forecast period.
· The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Europe is estimated to account for the largest share of the marine interior market and is anticipated to maintain its dominance during the forecast period.
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