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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Ship Spares and Equipment Market Trends
The adoption of digitalisation in the shipping sector is a prominent trend in ship spares and equipment market as ship owners and operators can manage their spare part inventory efficiently and cost-effectively. Digitalisation has helped the shipping sector increase its efficiency of quickly procuring spare parts, leading to a more resilient shipping segment.
Ship Spares and Equipment Market Report Snapshots
Ship Spares and Equipment Market Size
Ship Spares and Equipment Market Growth
Ship Spares and Equipment Market Trends
Ship Spares and Equipment Companies
Ship Spares and Equipment Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.4% between 2024 and 2032.
The major drivers of the market are rising commercialisation and globalisation, growing technological advancements and increased cruise travelling.
The key trends guiding the growth of the market include growing commercialisation and rise in the demand for commodities and consumer goods.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading product types of ship spares and equipment in the market are ship fittings and equipment, shipbuilding and shipyard industrial equipment and spare parts, propulsion systems and equipment, auxiliary systems and equipment, ship operation equipment, rigging and lifting equipment, and electrical and electronic equipment, among others.
The major types of ship spares and equipment in the market are OEM and aftermarket.
The significant ship types in the market are containers, bulk carriers, transportation and general cargo, and cruise / Passenger carriers, among others.
The leading end uses in the market are cargo ships, passengers ships, and defence ships.
The major players in the global ship spares and equipment market are Mitsubishi Heavy Industries, Ltd, Wärtsilä Corporation, Hyundai Heavy Industries Co., Ltd., Fincantieri S.p.A, and MAN Energy Solutions SE, among others.
The market attained a value of USD 9.02 billion in 2023.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 13.3 billion in 2032.
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