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Global Ship Funnel Market Share, Size, Growth, Drivers, Forecast: By Vessel Type: Service Vessels, Industrial Ships, Passenger Carriers, Cruise Ships, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Ship Funnel Market Outlook
The global ship funnel market size is expected to grow at a CAGR of 3.30% between 2023 and 2028.The market is being driven by the increasing application of various types of vessels across industrial and commercial sectors.
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Key Trends in the Market
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.
- Ship funnels are integral components of ships which remove the outflow of fumes and smoke generated within the vessel to prevent it from reaching crew or passengers. Hence, as the sales of industrial and service vessels increase, the global ship funnel market share is expected to witness an upward trajectory.
- The increasing demand and deployment of cruise ships, owing to the increasing inclination towards recreational activities, their popularity as an enjoyable family vacation, reducing costs, and excellent services, is likely to aid the market in the forecast period.
- Growing research and development and innovations by the major vessel manufacturers, aimed towards improving the life and efficiency of ships are crucial ship funnel market trends. In addition, the growing need to enhance the quality of transatlantic maritime travel are further bolstering the sale of ships.
- The anticipated increase in trading of chemicals, agro-products, industrial equipment, food and beverage, and construction materials, among others, is projected to fuel the demand for ships and ship funnels.
- According to the ship funnel market report, the increasing size of ships are also influencing the market for ship funnels. Larger ships have greater dependency on ship funnels to safely redirect and expel fumes generated within the ship. In larger ships, more engine power is often required, resulting in the production of increased fumes that need to be safely dispelled.
Market Analysis
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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.
- Mitsubishi Heavy Industries, Ltd.
- Alfa Laval
- DSV A/S
- Clean Marie AS
- FPS Famous Pacific Shipping B.V.
- Others
Market Share by Industrial Ships
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.
Market Share by Region
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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Competitive Landscape
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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Vessel Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Ship Funnel Market Analysis
8.1 Key Industry Highlights
8.2 Global Ship Funnel Historical Market (2018-2022)
8.3 Global Ship Funnel Market Forecast (2023-2028)
8.4 Global Ship Funnel Market by Vessel Type
8.4.1 Service Vessels
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Industrial Ships
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Passenger Carriers
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Cruise Ships
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.4.4 Breakup by type
8.4.4.4.1 Ferries
8.4.4.4.2 Cargo Carriers
8.4.5 Others
8.5 Global Ship Funnel Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America Ship Funnel Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Ship Funnel Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Ship Funnel Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Ship Funnel Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Ship Funnel Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Mitsubishi Heavy Industries, Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Alfa Laval
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 DSV A/S
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Clean Marie AS
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 FPS Famous Pacific Shipping B.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Ship Funnel Market: Key Industry Highlights, 2018 and 2028
2. Global Ship Funnel Historical Market: Breakup by Vessel Type (USD Million), 2018-2022
3. Global Ship Funnel Market Forecast: Breakup by Vessel Type (USD Million), 2023-2028
4. Global Ship Funnel Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Ship Funnel Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Ship Funnel Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Ship Funnel Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Ship Funnel Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Ship Funnel Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Ship Funnel Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Ship Funnel Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Ship Funnel Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Ship Funnel Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Ship Funnel Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Ship Funnel Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Ship Funnel Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 3.30% in the forecast period of 2023-2028.
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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