Marine ventilation systems are of great importance in any marine vessel whether it is a cruise ship with full of luxury and comfort or any other ship which is used for transportation or a war ship to protect the water boundaries of a nation. Design of marine ventilation system is a critical step as it helps to maintain comfortable and effective operational conditions inside a ship by maintaining desired levels of humidity, temperature and other operational parameters.
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On any ship, the surrounding is very humid which degrades the quality of environment and thus impacting on a large scale on the efficiency people on board. Humid environment also corrodes engine parts and associated ship machinery. So to maintain the operational parameters on the ship as well as the performance of engine and other equipment; marine ventilation systems play an important role. Apart from cargo, military and general ships, marine ventilation systems become a point of differentiation in luxury and cruise ships as desired level of comfort is high in these ships.
Marine Ventilation Systems Market:Market Dynamics
Transportation and trade are one of the vital factors responsible for economic growth of the nation in the present era of globalization, which has shifted the focus of the nations to enhance its international investments and trade practices. Sea borne trade is largely impacted by global trade policies, which indirectly impacts marine ventilation systems market globally. The rise in water-based logistics activities has led to a continuous increase in sea traffic which has fuelled the demand for ships & cargos in the past few years and is expected to boost the shipbuilding industry in the forecast period which in turn, will create demand for marine ventilation systems market over the forecast period.
In addition, growth in travel, transportation and leisure sector is also an important driving factor associated with the marine ventilation system market. Up gradation of existing fleet and repair and maintenance activities of ventilation components are expected to create future market opportunities in the marine ventilation systems aftermarket, particularly luxury cruise segment is expected to create significant growth opportunities.
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However, increasing complexities in custom designs leads to elevated cost of the marine ventilation system which acts as minor restraint to global marine ventilation system market impacting its growth in the forecast period. Significant opportunities exist in the market for technological advancement of products so as to provide better performance and enhanced features.
Marine Ventilation Systems Market: Regional Outlook
Asia Pacific is expected to remain the most lucrative in the global marine ventilation systems in terms of market potential. It is driven by the demand from the ship building industries in this region. However, in terms of production North America, Europe, and Asia Pacific is expected to hold more than half of the market of marine ventilation system market. North America is expected to be a prominent market in terms of production and demand as well. Rest of the world market is estimated to account for a relatively small share of the marine ventilation system market.