Global Shipbuilding Anti-Vibration Market - 2022-2029

Global Shipbuilding Anti-Vibration Market - 2022-2029

Market Overview

The Shipbuilding Anti-Vibration Market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 4.80% during the forecast period (2022-2029).

The shipbuilding industry is growing, innovative and competitive with significant social and economic significance. Shipbuilding anti-vibration products ranging from vibration mounts to more complex tailor-made air suspension deck house solutions reduce the negative effects of vibration and noise on all systems on board, the crew, the environment and the ship itself while ensuring continuous operation.

Market Dynamics

Rising consumer spending and a growing preference for opulent lifestyles are major market drivers for the global shipbuilding anti-vibration market. However, the exorbitant maintenance and replacement costs are a major market restraint.

Rising consumer spending and a growing preference for opulent lifestyles

The growing tourism industry, combined with the growing choice for lavish lives, is expected to drive passenger ship market growth, accelerating the shipbuilding anti-vibration market. Consumer interest in sailing vacation activities is growing, accounting for a significant portion of Blue Economy growth in Europe and globally. Sailing ships are a low-impact and more viable mode of exploring coastal areas. Further, the yachters' profiles shift toward younger and less experienced consumers who prefer charter boats rather than own them, thereby driving the market for yachts.

Because of the assimilation of numerous anti-vibration components in shipbuilding, the global market for shipbuilding anti-vibration products is forecast to expand at a significant rate during the forecast period due to the high demand for comfortable ships is a major factor driving the demand for anti-vibration systems for shipbuilding coupled with the growing consumer preference towards an opulent lifestyle.

COVID-19 Impact Analysis

COVID-19 had a negative impact on the global economy and the shipping sector due to supply chain disruptions that impacted demand. The pandemic reduced maritime transportation and other marine activities, disintegrating the shipbuilding anti-vibration industry. International trade, tourism and the supply chain were all impacted on an unprecedented scale. After the initial time frame of 2021, the impact began to fade and volumes for both containerized trade and dry bulk commodities began to recover. Though the pandemic caused significant disruption to the economy and sector, it also created new opportunities for the sector, with a positive trend in e-commerce trade. With the removal of restrictions, the shipbuilding industry is gaining traction, thanks to government initiatives.

Similarly, The Internet of Things (IoT) will be one of the most significant changes in the maritime industry's equipment purchasing policies. IoT is a collection of sensors and devices that work together to achieve close cooperation on multiple activities to achieve a common goal of interacting with their deployment environment. Further, Blockchain is no longer limited to digital currencies; it is slowly infiltrating everything that requires record keeping. As concerns about responsible product sourcing grow, it will open new horizons of trade and commerce for the shipping industry. It will vastly improve transparency by digitizing record-keeping. Many businesses, such as the FMCG industry, must produce sourcing details for their products and blockchain-based smart contracts will make international trade faster, more secure and affordable for new players. The aforementioned innovations, among several others in the shipping industry, would boost the market, thereby boosting the future demand for shipbuilding anti-vibration materials and products.

Segment Analysis

The global shipbuilding anti-vibration market is classified based on product, function, material, application and region.

The ability to offer complete onboard climate, varied applications and increasing shipbuilding allow the HVAC vibration segment to dominate the function segment

HVAC Vibration has a significant market share in the shipbuilding anti-vibration market because of its ability to control the entire onboard climate of a ship, which increases its usage in a wide range of applications such as cruise ships and tugs, yachts and bulk containers, among others. This segment's expansion is also caused by an increase in shipbuilding in developing markets such as India and China.

Geographical Analysis

The fast-growing cruise ship sector and its manufacture boosts the shipbuilding anti-vibration market in Asia-Pacific

As the global disposable income and strive for luxurious experiences grow globally, the shipping sector also experiences enormous growth, providing growing attention towards cruise ships. Asia-Pacific is the hub for all kinds of raw materials and cheap labor. As a result, the cruise ship market and its manufacturing industry are growing enormously in Asia-Pacific. As per stats, In 2019, 39 cruise lines with 79 ships are active in Asian waters. Since 2014, the number of ships deployed in Asia has increased by 58%. In 2019, 13 of the 79 ships operate year-round, while the remaining 22 operate for five or more months. Seven of the 79 are mega-ships (with more than 3,500 passenger capacity or more than 150,000 gross register tonnage), while the remaining 18 are large ships.

The experienced growth of the cruise ships market in Asia-Pacific increases its manufacturing and repair activities in the region. As shipbuilding anti-vibration products are essential in the respective sector, Asia-Pacific is experiencing plenty of sales and demand in the respective market. The aforementioned factor, along with several others, helps Asia-pacific to dominate the regional segment of the global shipbuilding anti-vibration market.

Competitive Landscape

In terms of global and local producer numbers and strengths, the global shipbuilding anti-vibration market is niche but competitive due to the presence of major players such as Trelleborg, Parker LORD, Hutchinson Paulstra, GMT Rubber-Metal-Technic Ltd, Continental, AMC Mecanocaucho, Getzner Werkstoffe GmbH, Vibracoustics Ltd, Angst + Pfister and Bridgestone Industrial. The market is fragmented and pivotal market stakeholders use market tactics such as mergers, acquisitions, product launches, contributions and collaborations to gain a competitive advantage and recognition in their respective markets.

Trelleborg Antivibrations Solutions

Overview: For over a century, Netherlands BV has been a pioneer in applied polymer technology. The Trelleborg Group parent company employs 24,000 people across 120 production facilities in over 50 countries. The Dordrecht, a Netherlands-based subsidiary, focuses on shock absorbers and eradicating unwanted sounds and vibrations.

Product Portfolio:
• ANB Mount: ANB buffers are made of a cylindrical rubber body melded to a square steel base plate. A fixing hole is located in each corner of the baseplate. A high degree of energy absorption is achieved through rubber damping. Because dynamic loading stiffens the rubber more than static or pseudo-static loading, more energy is absorbed for a given deformation. The ANB shock buffer type effectively limits the movement of machine or equipment components.

Key Development:
• On November 16, 2021, Trelleborg Antivibration Solutions and Damen Naval partnered to develop solutions for Damen Naval's new Combat Support Ship (CSS) for the Royal Netherlands Navy. Trelleborg will supply the vibration mounts for the ship's main electric engines under the terms of the agreement. The rubber compound used in the equi-frequency mounts was specifically designed for the application.

Why Purchase the Report?
• To visualize the global shipbuilding anti-vibration market segmentation based on product, function, material, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the global shipbuilding anti-vibration market by analyzing trends and co-development.
• Excel data sheet with numerous data points of shipbuilding anti-vibration market-level with four segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players

The global shipbuilding anti-vibration market report would provide approximately 69 tables, 77 figures and almost 198 pages.

Function Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies