Global Ship Funnel Market Report and Forecast 2024-2032

Global Ship Funnel Market Outlook

The global ship funnel market size is expected to grow at a CAGR of 3.30% between 2024 and 2032.The market is being driven by the increasing application of various types of vessels across industrial and commercial sectors. 

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Key Trends in the Market

A ship funnel, also known as a stack, refers to the component of the ship which acts like an exhaust and is used to remove boiler, engine exhaust, or smoke. This component of ships is located at the top and expels ship fumes and discharges in such a way that they remain away from the ship. 

• Ship funnels are integral components of ships which remove the outflow of fumes and smoke generated within the vessel to prevent it from reaching crew or passengers. Hence, as the sales of industrial and service vessels increase, the global ship funnel market share is expected to witness an upward trajectory.

• The increasing demand and deployment of cruise ships, owing to the increasing inclination towards recreational activities, their popularity as an enjoyable family vacation, reducing costs, and excellent services, is likely to aid the market in the forecast period.

• Growing research and development and innovations by the major vessel manufacturers, aimed towards improving the life and efficiency of ships are crucial ship funnel market trends. In addition, the growing need to enhance the quality of transatlantic maritime travel are further bolstering the sale of ships.

• The anticipated increase in trading of chemicals, agro-products, industrial equipment, food and beverage, and construction materials, among others, is projected to fuel the demand for ships and ship funnels.

• According to the ship funnel market report, the increasing size of ships are also influencing the market for ship funnels. Larger ships have greater dependency on ship funnels to safely redirect and expel fumes generated within the ship. In larger ships, more engine power is often required, resulting in the production of increased fumes that need to be safely dispelled.

Market Analysis

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Based on vessel type, the market is segmented into service vessels, industrial ships, passenger carriers, and cruise ships, among others. Cruise ships are further divided into ferries and cargo carriers. The regional markets for ship funnels are categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.  

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global ship funnel market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Mitsubishi Heavy Industries, Ltd.

• Alfa Laval

• DSV A/S

• Clean Marie AS

• FPS Famous Pacific Shipping B.V.

• Others

Market Share by Industrial Ships

The industrial ships segment, based on vessel type, accounts for a healthy share of the market for ship funnels. Industrial ships are built to carry bulk loads such as heavy raw materials, wood, fertilisers, grains, ores, large machineries, and various types of construction materials. For industrial ships carrying heavy loads, efficient ship funnels are necessary as they reduce risk of impedance on the ship’s ability to carry goods with high safety and steady speed, which is influencing the ship funnel market price. Meanwhile, the cruise ships segment is expected to witness a growing share in the market, owing to the increasing demand of consumers for cruise ships for relaxation and tourism. 

Market Share by Region

Europe holds a significant share in the ship funnel market which can be attributed to the rising demand for luxury cruise ships in the region to cater to the demands of lifestyle and holiday consumers. Increasing number of cruise ship start-ups across well-developed economies such as Germany, Spain, and France, are further fuelling the market growth. 

Meanwhile, the Asia Pacific is expected to witness a healthy growth in the market for ship funnels over the forecast period due to the increasing demand for cargo vessels. An anticipated increase in trading activities via sea routes and improvements in ports are expected to bolster the ship funnel market growth. 

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Competitive Landscape

Mitsubishi Heavy Industries, Ltd. is a leading manufacturer of engineering equipment and industrial products. The company was established in the year 1884 and is headquartered in Tokyo, Japan. It has 8 domestic offices and 6 international head offices. Mitsubishi Heavy Industries also produces high-quality ship equipment which caters to the demands of various end use sectors.  

Alfa Laval is a manufacturing company which produces specialised products and solutions for fluid handling, heat transfer, and separation. It caters to industries such as beverage processing, crude oil refinery, municipal wastewater, commercial refrigeration, marine, and biotechnology. The company was established in the year 1883 and is headquartered in Lund, Sweden. 

DSV A/S is a transport and logistics company which was founded in 1976 and is currently headquartered in Hedehusene, Denmark. The product portfolio of this company includes air freight, sea freight, road transport components, rail freight, logistic solutions, and various value added services, among others. It helps companies of all sizes manage their supply chains seamlessly. 

Other market players include Clean Marie AS, and FPS Famous Pacific Shipping B.V., among others.

Key Highlights of the Report