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Global Ship Spares and Equipment Market: By Product Type: Ship Fittings and Equipment, Others; By Type: OEM, Aftermarket; By Ship Type: Containers, Bulk Carriers, Transportation and General Cargo, Cruise/Passengers Carriers; By End Use; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2018-2028
Global Ship Spares and Equipment Market Outlook
The global ship spares and equipment market size attained a value of USD 8.29 billion in 2021. The market value is further anticipated to grow at a CAGR of 4.3% in the forecast period of 2023-2028 to attain a value of USD 10.71 billion by 2027.
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Increase in Maritime Transport to Aid the Growth of the Ship Spares and Equipment Market
Shipping plays a crucial role in the global economy with a large percentage of merchandise being transported over water. Rapid commercialisation and a rise in the demand for commodities and consumer goods have fuelled the demand for transportation and bulk carriers in various countries across the continents, increasing the need for maritime transport services.
Governments in various countries across the globe are investing in the development of the shipbuilding sector owing to the growing demand for vessels to conduct cross-border trades and to meet the needs of the expanding travel and tourism market. This is compelling governments to financially support shipbuilders and to introduce and expand policies to assist them.
Further, with the adoption of digitalisation in the shipping sector, ship owners and operators can manage their spare part inventory efficiently and cost-effectively. Digitalisation has helped the shipping sector increase its efficiency of quickly procuring spare parts, leading to a more resilient shipping segment.
Ship Spares and Equipment: Market Segmentation
Ship spares and equipment refer to components/equipment like propulsion systems, auxiliary systems, and ship operation equipment designed to form part or to be fixed in a ship. These can also be used to replace the failed units of machinery. The ship parts need to be changed from time to time and it is necessary that these spare parts and equipment are supplied in good quality, correctly and quickly.
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On the basis of product type, the market is divided into:
- Ship Fittings and Equipment
- Shipbuilding and Shipyard Industrial Equipment and Spare Parts
- Propulsion Systems and Equipment
- Auxiliary Systems and Equipment
- Ship Operation Equipment
- Rigging and Lifting Equipment
- Electrical and Electronic Equipment
- Others
Based on type, the market can be bifurcated into:
- OEM
- Aftermarket
By ship type, the market is segmented into:
- Containers
- Bulk Carriers
- Transportation and General Cargo
- Cruise/Passengers Carriers
- Others
On the basis of end use, the market is categorised into:
- Cargo Ships
- Passengers Ships
- Defence Ships
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Development of Waterways is Increasing the Need for Repair Facilities in their Vicinity
The development of waterways, especially in developing countries of the Asia Pacific, such as India, is anticipated to increase the number of vessels on these rivers, boosting the demand for new repair and maintenance facilities in their vicinity.
Key Market Players in the Global Ship Spares and Equipment Market
The report gives a detailed analysis of the following key players in the global ship spares and equipment market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Mitsubishi Heavy Industries, Ltd
- Wärtsilä Corporation
- Hyundai Heavy Industries Co., Ltd.
- Fincantieri S.p.A
- MAN Energy Solutions SE
- Others
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.
| 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- Product Type, Type, Ship Type, End Use, Region |
| Breakup by Product Type |
Ship Fittings and Equipment, Shipbuilding and Shipyard Industrial Equipment and Spare Parts, Propulsion Systems and Equipment, Auxiliary Systems and Equipment, Ship Operation Equipment, Rigging and Lifting Equipment, Electrical and Electronic Equipment, Others |
| Breakup by Type | OEM, Aftermarket |
| Breakup by Ship Type | Containers, Bulk Carriers, Transportation and General Cargo, Cruise/Passengers Carriers, Others |
| Breakup by End Use | Cargo Ships, Passengers Ships, Defence Ships |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Mitsubishi Heavy Industries, Ltd, Wärtsilä Corporation, Hyundai Heavy Industries Co., Ltd., Fincantieri S.p.A, MAN Energy Solutions SE, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Spares and Equipment Market Analysis
8.1 Key Industry Highlights
8.2 Global Ship Spares and Equipment Historical Market (2018-2022)
8.3 Global Ship Spares and Equipment Market Forecast (2023-2028)
8.4 Global Ship Spares and Equipment Market by Product Type
8.4.1 Ship Fittings and Equipment
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 Shipbuilding and Shipyard Industrial Equipment and Spare Parts
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 Propulsion Systems and Equipment
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 Auxiliary Systems and Equipment
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Ship Operation Equipment
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Rigging and Lifting Equipment
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Electrical and Electronic Equipment
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2018-2022)
8.4.7.3 Forecast Trend (2023-2028)
8.4.8 Others
8.5 Global Ship Spares and Equipment Market by Type
8.5.1 OEM
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 Aftermarket
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Ship Spares and Equipment Market by Ship Type
8.6.1 Containers
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Bulk Carriers
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Transportation and General Cargo
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Cruise / Passengers Carriers
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Ship Spares and Equipment Market by End Use
8.7.1 Cargo Ships
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Passengers Ships
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Defence Ships
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.8 Global Ship Spares and Equipment Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Ship Spares and Equipment 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 Spares and Equipment Market Analysis
10.1 Turkey
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 Norway
10.5.1 Market Share
10.5.2 Historical Trend (2018-2022)
10.5.3 Forecast Trend (2023-2028)
10.6 Rest of Europe
11 Asia Pacific Ship Spares and Equipment 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 South Korea
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Rest of Asia Pacific
12 Latin America Ship Spares and Equipment 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 Rest of Latin America
13 Middle East and Africa Ship Spares and Equipment 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 South Africa
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 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 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Mitsubishi Heavy Industries, Ltd
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Hyundai Heavy Industries Co., Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Wärtsilä Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Fincantieri S.p.A
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 MAN Energy Solutions SE
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Ship Spares and Equipment Market: Key Industry Highlights, 2017 and 2027
2. Global Ship Spares and Equipment Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Ship Spares and Equipment Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Ship Spares and Equipment Historical Market: Breakup by Ship Type (USD Million), 2018-2022
5. Global Ship Spares and Equipment Market Forecast: Breakup by Ship Type (USD Million), 2023-2028
6. Global Ship Spares and Equipment Historical Market: Breakup by Type (USD Million), 2018-2022
7. Global Ship Spares and Equipment Market Forecast: Breakup by Type (USD Million), 2023-2028
8. Global Ship Spares and Equipment Historical Market: Breakup by End Use (USD Million), 2018-2022
9. Global Ship Spares and Equipment Market Forecast: Breakup by End Use (USD Million), 2023-2028
10. Global Ship Spares and Equipment Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Ship Spares and Equipment Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Ship Spares and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Ship Spares and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Ship Spares and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Ship Spares and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Ship Spares and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Ship Spares and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Ship Spares and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Ship Spares and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Ship Spares and Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Ship Spares and Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Ship Spares and Equipment Market Structure
Key Questions Answered in the Report
The global ship spares and equipment market is being aided by the growth of the marine transport, and is projected to grow at a CAGR of 4.3% between 2022 and 2027.
The major drivers of the market such as rising commercialisation and globalisation, growing technological advancements as well as increased cruise travelling are expected to aid the market growth.
The key trend guiding the growth of the market include the commercialisation as well as rise in the demand for commodities and consumer goods.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading product types of ship spares and equipment in the market are ship fittings and equipment, shipbuilding and shipyard industrial equipment and spare parts, propulsion systems and equipment, auxiliary systems and equipment, ship operation equipment, rigging and lifting equipment, and electrical and electronic equipment, among others.
The major types of ship spares and equipment in the market are OEM and aftermarket.
The significant ship types in the market are containers, bulk carriers, transportation and general cargo, and cruise / Passenger carriers, among others.
The leading end use sectors in the market are cargo ships, passengers ships, and defence ships.
The major players in the market are Mitsubishi Heavy Industries, Ltd, Wärtsilä Corporation, Hyundai Heavy Industries Co., Ltd., Fincantieri S.p.A, MAN Energy Solutions SE, among others.
Analyst Review
The global ship spares and equipment market attained a value of USD 8.29 billion in 2021. Aided by the increasing maritime transport, cruise travel and defence expenditure, the global ship spares and equipment market is expected to witness a growth in the forecast period of 2023-2028 at a CAGR of 4.3%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on product type, the market is divided into ship fittings and equipment, shipbuilding and shipyard industrial equipment and spare parts, propulsion systems and equipment, auxiliary systems and equipment, ship operation equipment, rigging and lifting equipment, and electrical and electronic equipment, among others. On the basis of type, the market is segmented into OEM and aftermarket. Based on ship type, the market is categorised into containers, bulk carriers, transportation and general cargo, and cruise / Passenger carriers, among others. By end use, the market is divided into cargo ships, passengers ships, and defence ships. The major regional markets for ship spares and equipment are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Mitsubishi Heavy Industries, Ltd, Wärtsilä Corporation, Hyundai Heavy Industries Co., Ltd., Fincantieri S.p.A, MAN Energy Solutions SE, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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