Ship Anchor Market to Witness Widespread Expansion During 2017 - 2027
Ship anchoring is a frequent operation. It is very similar to unloading or loading a cargo. The anchor crown is allowed to hit sea bottom after flukes take position and get embedded into the sea bed. Furthermore, anchor design, nature of sea bed and cable scope are some of the prime factors that affect the holding power of ship anchors and therefore, affect the safety of ships. The number of ship equipment decide the length of the chain and anchor weight and the fluke area determines the anchor’s holding power. Majorly, there are three types of anchors -- super high holding power anchors, high holding power anchors and normal holding power anchors. These play a vital role in a ship’s movement and operation. However, material defects in anchor shanks and flukes, excessive wear and tear of anchor crown pin, damages caused to anchor crown during the drop and while hitting rocks may hinder a ship’s movement. These factors may hamper the ship anchor market during the forecast period. Similarly, pulling may break off flukes if stuck between rocks. In case of an anchor loss, a majority of ship companies rely upon compatible and class certified second hand ship anchors as a spare anchor through visual survey and proof load testing, which is another factor that might impact this market negatively during the forecast period.
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Ship Anchor Market: Dynamics:
Non-hockling, requirement of less storage space and superior performance in power windlasses are some of the features which are estimated to drive the global ship anchor market during the forecast period. Furthermore, growing demand for safety and economical products will further drive the global ship anchor market over the forecast period. Moreover, growing trade between countries through ships for the transportation of heavy equipment will further enhance the growth of global ship anchor market during the forecast period. The companies involved in shipments tend to incline towards second-hand anchors to enhance their inventory. This may hinder the growth of global ship anchor market during the forecast period. Moreover, the global ship anchor market is highly influenced by rental service providers offering ship anchors for short as well as long-term periods. This allows ship companies to enhance their profitability while unfortunately lowering the revenue generation of ship anchor manufacturers.
Ship Anchor Market: Segmentation:
The global ship anchor market can be segmented on the basis of product type and size.
On the basis of product type, the global ship anchor market is segmented into:
Others (AC-14, Stato, Stevin, etc.)
On the basis of size, the global ship anchor market is segmented into:
Upto 3,500 lbs
3,500 – 10,000 lbs, and
Above 10,000 lbs
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Ship Anchor Market: Region-wise Outlook:
Europe is estimated to be a mature and dominating region in the global ship anchor market due to strong investments being made in France, Russia and other EU countries since the last few years. Innovations and high efficient shipbuilding is in progress in the region, which will also add to the growth of the market. Asia Pacific has witness substantial growth over the last 50 years due to investments in Korea, China and Japan. Furthermore, the focus of service providers and ship manufacturers is shifting towards India, Vietnam and other ASEAN countries as these regions allow the manufacturers and service providers to combine their own high level skills with relatively low cost of labor. Latin America and Middle East & Africa region are further expected to witness substantial growth owing to strong demand for trading through ships in countries, such as Brazil, UAE, South Africa and Turkey.
Ship Anchor Market: Key Market Participants:
Some of the market participants in the global ship anchor market are:
ANCHOR MARINE & SUPPLY, INC.
JinTan Lead Marine Equipment Co.,Ltd.
Blue Ocean Tackle
Anchor Marine Supplies Pte Ltd
Qingdao Fortune Anchor Chain Co.,Limited
Sotra Anchor & Chain AS
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