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The global ship funnel market size is expected to grow at a CAGR of 3.30% between 2024 and 2032.The market is being driven by the increasing application of various types of vessels across industrial and commercial sectors.
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A ship funnel, also known as a stack, refers to the component of the ship which acts like an exhaust and is used to remove boiler, engine exhaust, or smoke. This component of ships is located at the top and expels ship fumes and discharges in such a way that they remain away from the ship.
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Based on vessel type, the market is segmented into service vessels, industrial ships, passenger carriers, and cruise ships, among others. Cruise ships are further divided into ferries and cargo carriers. The regional markets for ship funnels are categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global ship funnel market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
The industrial ships segment, based on vessel type, accounts for a healthy share of the market for ship funnels. Industrial ships are built to carry bulk loads such as heavy raw materials, wood, fertilisers, grains, ores, large machineries, and various types of construction materials. For industrial ships carrying heavy loads, efficient ship funnels are necessary as they reduce risk of impedance on the ship’s ability to carry goods with high safety and steady speed, which is influencing the ship funnel market price. Meanwhile, the cruise ships segment is expected to witness a growing share in the market, owing to the increasing demand of consumers for cruise ships for relaxation and tourism.
Europe holds a significant share in the ship funnel market which can be attributed to the rising demand for luxury cruise ships in the region to cater to the demands of lifestyle and holiday consumers. Increasing number of cruise ship start-ups across well-developed economies such as Germany, Spain, and France, are further fuelling the market growth.
Meanwhile, the Asia Pacific is expected to witness a healthy growth in the market for ship funnels over the forecast period due to the increasing demand for cargo vessels. An anticipated increase in trading activities via sea routes and improvements in ports are expected to bolster the ship funnel market growth.
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Mitsubishi Heavy Industries, Ltd. is a leading manufacturer of engineering equipment and industrial products. The company was established in the year 1884 and is headquartered in Tokyo, Japan. It has 8 domestic offices and 6 international head offices. Mitsubishi Heavy Industries also produces high-quality ship equipment which caters to the demands of various end use sectors.
Alfa Laval is a manufacturing company which produces specialised products and solutions for fluid handling, heat transfer, and separation. It caters to industries such as beverage processing, crude oil refinery, municipal wastewater, commercial refrigeration, marine, and biotechnology. The company was established in the year 1883 and is headquartered in Lund, Sweden.
DSV A/S is a transport and logistics company which was founded in 1976 and is currently headquartered in Hedehusene, Denmark. The product portfolio of this company includes air freight, sea freight, road transport components, rail freight, logistic solutions, and various value added services, among others. It helps companies of all sizes manage their supply chains seamlessly.
Other market players include Clean Marie AS, and FPS Famous Pacific Shipping B.V., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vessel Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*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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The market is estimated to grow at a CAGR of 3.30% in the forecast period of 2024-2032.
The increasing applications of ship funnels across various types of vessels, rising demand for industrial and cruise vessels, and improving standards of living are the major drivers of the market.
The key trends in the market include the growing research and development and innovations by the major vessel manufacturers, increasing trade of industrial and commercial goods, and popularity of large sized ships.
Service vessels, industrial ships, passenger carriers, and cruise ships, among others, are the different vessel types included in the ship funnel market. Cruise ships are further divided into ferries and cargo carriers.
The major regions in the market for ship funnels are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Funnels on a ship are used to remove toxic waste from the ship, improving efficiency, safety, and comfort during the journey.
Ship funnel is named this way due to its funnel-like shape which allows the steam or smoke to go out of the vessel.
Ship funnels prevent smoke and other harmful steamy components from reaching the main areas of a ship.
A ship funnels are designed in such a way that they are able to exhaust gases while reducing the weight of a ship.
Mitsubishi Heavy Industries, Ltd., Alfa Laval, DSV A/S, Clean Marie AS, and FPS Famous Pacific Shipping B.V., among others, are the key market players, according to the report.
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