Global Deck Machinery Market Expected to Reach USD 3,707.03 Million by 2030

Category : Aerospace and Defence | Published Date : Jun 2024

Deck Machinery Market Definition & Overview :

Deck Machinery comprehends mechanical machinery installed on the ship's deck for boarding, de-boarding, ship docking, and transportation of cargo. This includes anchors, winches, and capstans that allow sailors to operate the ship safely and efficiently by adjusting and controlling the direction of a ship's bow.

Consegic Business Intelligence analyzes that the Global Deck Machinery Market was valued at USD 2,471.42 Million in 2022, and is expected to register a CAGR of 5.5% to reach USD 3,707.03 Million in 2030.

This report comprises Deck Machinery Market Size, Share & Industry Analysis, 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), and Forecast, 2023-2030.

This report contains detailed information on Deck Machinery Market Value, Growth Rate, Segmentation, Geographical Coverage, Trends, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.

As per the report, the technological advancements in deck machinery and increasing demand for the safety and security of ships are the key deck machinery market drivers. Continuous advancements like Global Positioning System (GPS), satellite communication systems, and real-time load and speed sensing technology help to achieve safe and secure marine operations.

Segmental Analysis :

The Deck Machinery Market is divided into four major sections based on system, product type, application, and region.

Based on the systems, the market is trifurcated into electrical, steam, and hydraulic.

  • Hydraulic motors accounted for the largest revenue in 2022, due to several advantages including the ability to accelerate or decelerate the ships, fewer internal leaks, regulation of speed, and adjustable positioning.
  • The electric systems are expected to register the fastest CAGR growth during the forecasted period. The electric motors have zero emission, generate less noise, and have lower response time.

On the basis of product type, the deck machinery market is divided into several types as winch, anchoring systems, capstan, windlass, and lifting and handling equipment.

  • The winches segment holds the largest market share in 2022, as winches provide enhanced performance, safety, and efficiency, and are built for operations such as docking, mooring, anchoring, and haulage.
  • The anchoring system will register the fastest CAGR from 2023 to 2030, as there is a constant increase in demand due to its ability to withstand adverse climate conditions and provide protection for the efficient sailing of ships.

Based on the applications, the market is divided into cargo vessels, oil tankers, and ferry

  • The cargo vessels hold the largest revenue share of 46.11% in 2022, due to an increase in global trade that requires machinery for cargo handling.
  • Moreover, the oil tankers are anticipated to witness the fastest CAGR from 2023 to 2030. As global energy consumption increases, the demand for oil tankers increases, which increases the need for deck machinery for safe and efficient transportation.

By region, the market is divided into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

  • Asia-Pacific region holds the largest revenue share in 2022 valued at USD 790.36 million due to rising marine trade in this region.
  • The North American region is expected to register the fastest CAGR of 5.8% during the forecasted period due to the rise in the maritime transportation and tourism industry
Report Attributes Report Details
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(U.S., Canada, Mexico), Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe), APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific), Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA), and LATAM(Brazil, Argentina, Chile, Rest of LATAM)

Top Key Players & Competitive Landscape :

The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging trends and dynamics in partnerships.

List of prominent players in the Deck Machinery Market :

Recent Industry Developments :

  • Liebherr launched a new electric heavy lift 800-ton ship crane in August 2022, for lifting heavy components in the offshore wind industry.
  • In August 2020, Hili Company pioneered a ship-to-shore crane with a lifting capacity of 45 tons under a spreader increasing the capacity and enhancing cargo-handling efficiency.