Adoption of Marine HVAC System Market to Surge During the Forecast Period Owing to Increased Consumer Demand

Marine HVAC System Market: Introduction

As the climatic condition at oversea is relatively humid and warm so marine HVAC system is of great importance to control the on-board temperatures and humidity in any marine vessel, such as cruise ship, cargo ships, warship or offshore marine facility and platforms. Moreover, as the humid surrounding degrades the efficiency of the people on board and also corrode the cargo, machinery, and equipment of the ship increasing the maintenance cost, to avoid this HVAC system become a necessity for the marine industry these days. HVAC system contributes a lot towards the maintenance of the fresh, clean air of desired temperature and humidity for the crew, passengers as well as machinery. Marine HVAC systems are different from most of the land HVAC systems, as the marine HVAC systems are generally water cooled and not air cooled. It may be due to the fact that, on a ship, there is limited availability of space and abundance of water. Moreover, in luxury ships such as cruise, the expectation of passenger is to have an experience of a lifetime. Which include high expectation towards the luxury and comfort and the indoor climate is part of the overall impression. In short, an effective HVAC system is a key contributor to the comfortable journey as well as successful vessel operation.

Marine HVAC System Market: Participants

Examples of some of the key market participants in the global marine HVAC system market, identified across the value chain are:

Heinen & Hopman
Bronswerk Marine Inc.
AF Group ASA
Carrier Corporation
DAIKIN INDUSTRIES, Ltd
DOMETIC GROUP
Drews Marine GMBH
NADI Airtechnics Pvt. Ltd
HORN International AS
GEA Farm Technologies

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Marine HVAC System Market: Dynamics

The shipping industry depends upon international trade, economic fluctuations, commodity pricing as well as global demand dynamics. The shipping industry is expected to have a bright future owing to flow of strong trade and investments. Moreover, in the present era of globalization, transportation and trade are major contributors to the economic growth. This will lead to increase in the demand for shipbuilding, shipping, marine equipment and services in the forecast period, which in turn will drive the marine HVAC systems market. Moreover, research and development are expected to be the key factors catering the growing need of energy from the diverse sources. The offshore renewable energy equipment platforms and oil platforms are expected to grow significantly to meet the global demand, which will positively impact the marine HVAC system market. Also, growth in transportation, travel and leisure sector is an important driving factor associated with the marine HVAC systems market.

However, high initial investment in the installation of HVAC systems can act as a restraint to the HVAC system market over the forecast period. Also, the shipping, trade, and shipbuilding are highly depended on the global economic health, and recession can also be a restraint which can affect the market growth in the forecast period.

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Marine HVAC System Market: Segmentation

The global marine HVAC system market can be segmented based on type of vessel:
Service Vessels
Passenger Vessels
Cruise Ships
Ferries
Cargo Carriers
Tankers
Container Ships
Bulk Carriers
Other Cargo Ships
Fishing Vessels
Personal Watercraft & Sailboats
Others
The global marine HVAC system market can be segmented based on type:
All water systems
All air systems (high or low-pressure)
Air-and-water systems
Others
The global marine HVAC system market can be segmented based on area of application:
Engine room
Cargo hold
Deck
Galley
Tender garage
Others
The global marine HVAC system market can be segmented based on technology:
Marine ventilation systems
Marine air conditioning
Marine heating systems
Marine refrigeration systems
The global marine HVAC system market can be segmented based on capacity:
Less than 10 RT
11- 100 RT
More than 100 RT
The global marine HVAC system market can be segmented based on distribution:
Centralized
Decentralized
Combined

Marine HVAC System Market: Regional Outlook

In terms of consumption of marine HVAC systems, Asia Pacific followed by North America is expected to dominate the global marine HVAC systems market. China and India with the increasing exports are set to spend more money on shipbuilding industry, which will boost the market for marine HVAC systems. In terms of production, Western Europe and North America together are expected to have a commanding share in the global marine HVAC systems market owing to established infrastructure and technical know-how. Rest of the world market is estimated to account for a relatively small share of the marine HVAC systems market.

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This release was published on openPR.