In 2022, the market for marine hatch covers is projected to be worth US$ 146.8 million. The broad industry value and the wide range of applications in different industries are thought to be the main development drivers of the market. The marine hatch cover market is anticipated to reach a value of roughly US$ 305.3 Million by the end of 2032, expanding at a strong CAGR of 7.6% between 2022 and 2032.
The marine hatch covers and protects the cargo and cargo spaces by making it watertight. Closing off the hatch opening to prevent the entrance of water into the cargo, protects the goods from being damaged and dumped and further can also be compared to the lid on a box. Hatch covers also act as a barrier for the entrance of green water loads in extreme weather condition to prevent ship’s internal structure from damage due to corrosion.
The types of hatch covers mainly used on the ships on the basis of requirements are lifting type, folding type, rolling type, roll stowing type, sliding type. Where lift away type and lifting type hatch covers are mainly used in container ships. In general, in cargo ships folding type hatch covers are mainly used. Rolling type marine hatch covers are further subdivided into piggy back & telescopic, side rolling and end rolling type and are mainly used in bulk carriers.
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Marine Hatch Covers Market: Dynamics
Increasing international trade in this era of globalization is expected to boost the shipping industry giving a positive growth to the marine hatch cover market in the forecast period. The growth in the shipbuilding industry across the globe will also contribute towards the growth of the marine hatch cover market. The marine hatch cover market is also aided by the growth of fishing industry and marine tourism, wherein large fishing boats and cruise ships are made for this purpose.
However, the shipbuilding and shipping industry is highly depended on the international economy and the downward shift in the economy may restrain the market of marine hatch cover over the forecast period. Also, the regulations related to the concentration of emission of harmful gases which are emitted by the marine vessel such as CO2, SOx, NOx in various countries may hamper the growth of shipbuilding industry restraining the market of marine hatch covers over the forecast period.
Marine Hatch Covers Market: Regional Outlook
In terms of consumption of marine hatch covers, Asia Pacific is expected to have extensive growth over the forecast period owing to high investment in the shipbuilding industry. In terms of production of marine hatch covers, North America and Europe are expected to dominate the global marine hatch covers market owing to established infrastructure and technical expertise related to the shipbuilding industry. Rest of the world market is estimated to account for a relatively small share of the marine hatch covers market.
Marine Hatch Covers Market: Market Participants
Examples of some of the market participants in the global marine hatch covers market, identified across the value chain are:
- Cargotec Corporation
- IKNOW MACHINERY CO., LTD.
- Baier Hatch Company, Inc.
- COOPS & NIEBORG BV
- Chongqing Guanheng Technology Development Co.
- Macor Marine Solutions GmbH und Co. KG
- TTS Group ASA
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Key Segments Of Marine Hatch Covers Industry Survey
By Vessel:
- Marine Hatch Covers for Service Vessels
- Marine Hatch Covers for Passenger Vessels
- Marine Hatch Covers for Cruise Ships
- Marine Hatch Covers for Ferries
- Marine Hatch Covers for Cargo Carriers
- Marine Hatch Covers for Tankers
- Marine Hatch Covers for Container Ships
- Marine Hatch Covers for Bulk Carriers
- Marine Hatch Covers for Other Cargo Ships
- Marine Hatch Covers for Fishing Vessels
- Marine Hatch Covers for Personal Watercraft & Sailboats
- Marine Hatch Covers for Other Vessels
By Type:
- Sliding Type Marine Hatch Covers
- Rolling Type Marine Hatch Covers
- Roll Stowing Type Marine Hatch Covers
- Lifting Type Marine Hatch Covers
- Folding Type Marine Hatch Covers
By Material Used:
- Aluminium Marine Hatch Covers
- Steel Marine Hatch Covers
- Other Materials-based Marine Hatch Covers
By Region:
- North America Marine Hatch Covers Market
- Latin America Marine Hatch Covers Market
- Europe Marine Hatch Covers Market
- Asia Pacific Marine Hatch Covers Market
- Middle East & Africa Marine Hatch Covers Market
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