Marine Interiors Market to See Massive Growth by 2028 | R&M Group, Almaco, Trimline, Kaefer, Bourne Group

Marine Interiors Market Outlook 2028 -

Marine interior market is related to designing, refitting, and delivery of internal solutions for commercial and defense ships. In recent years, owing to rise in urbanization and standard of living, demand for luxury cruise ships, yachts, and ferries is on the rise. This has led to rise in demand for advanced marine interiors, which are lightweight and easy to install. Aluminum, composites, steel, and others are mainly used in making interiors of ships, owing to their capability to handle harsh environmental conditions such as humidity and moisture content. However, composite materials used are preferred since the material is light in weight and can be given complex shapes. The maritime tourism industry is the largest user of marine interiors and one of the major industries that drives growth of the market. Moreover, development in aftermarket refurbishment of ship interiors also supports growth of the market.

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COVID-19 Impact Analysis:

The cruise ship and yacht market has been severely affected since their manufacturing units have been shut down due to lockdowns in major countries across the globe. Unavailability of labor has also affected the marine interiors market, owing to COVID-19 as people have to maintain social distancing and avoid travelling due to restrictions. Moreover, the revenue generation has also decreased as all ships have been stranded and banned from entering ports, hence they are not able to load or unload their goods. Furthermore, there was a disruption in supply chain of raw materials required to build marine interiors thus delivery was delayed. In addition, cancellation of number of orders for refurbishment, owing to global slowdown in economy has affected the marine industry, which declined the market growth.

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Top Impacting Factors

Rise in number of refurbishment projects, changing lifestyle of people, and increase in leisure activities drive growth of the market.

Uneven economic growth, complex customer demand, and fluctuating raw material prices hamper growth of the market.

Rise in demand for passenger ships from Asian shipyards, new interior designs, and surge in disposable income of consumers act as opportunities for the market growth.
Market Trends

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Rise in number of refurbishment projects
Nowadays, cruise companies are constantly updating their interiors to give customers a new experience onboard ships. In addition, cruise companies are focusing on using recyclable products to build their marine interiors and getting rid of leather and fabric materials to make world cleaner and reducing waste generation. For instance, Trimline, a British company, who works in interior refurbishment for all kinds of ships claims that the market for marine interior refurbishment is growing at a very fast rate. In the last three months, the company has worked on eight shipping projects. Trimline also works with several cruise lines & ferry companies that have undergone rebranding. It also has many projects lined up in pipeline for upcoming months. Moreover, since outbreak of the COVID-19, it has started adding COVID-safe catering areas in its interior designs for ships. Therefore, a significant growth in demand for marine interiors is expected to propel growth of the market.

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