With a lot being made of the direct impact of logistics software on the shipping industry, it is worth knowing that the sooner you look into and invest in solutions, the sooner you will see an upturn in operational efficiency, business reach and staff/customer satisfaction.
Extracts from the Lloyds Register 2030 Global Marine Trends Report
The marine world in 2030 will be almost unrecognizable owing to the rise of emerging countries, new consumer classes and resource demand. The central question is what it will be like? Will it be a world with multiple players or will one dominate? Will it be a world full of conflicts or in harmony? In qualitative terms, the shape of the marine world in 2030 will depend on tri-polar interactions between people, economies and natural resources. Our future will depend on their relative pulls towards a certain destination.
In the first world of 2030, where people’s primary interest is biased towards social development (especially living standards and jobs), we envisage business as usual with occasional disruptions along the way. Government will strive to satisfy people’s needs with short term fixes.
Whilst Italy is by far the largest producer of superyachts by unitary volume (39% in 2019), the Dutch and German shipyards both hold significant market shares when measured by value with 31% and 14% respectively.
The overall market growth of the superyacht fleet correlates to the global increase in the number of billionaires which has risen from 1,011 in 2010 to 2,153 in 2019 and is forecast to reach 2,584 by 2024.
The refit sector The refit market is driven by the life cycle of the paint system which is typically 4-6 years depending on the usage and cruising patterns of each yacht. The timing of the re-painting is flexible, although superyachts must undergo regular maintenance cycles every 5 years to comply with their registry and insurance. Owners typically take the opportunity to undertake repainting work whilst the yacht is out of service for its refit survey, consequently major paintwork tends to follow a 5-year cycle.
The refit market is underpinned by approximately 20% of the active fleet typically due for paintwork each year and continues to grow in line with the increasing size of the global superyacht fleet.
are equipped with advanced technologies, such as joystick docking control, automatic trim controls, and digital throttle controls, strengthening the market demand.
• Introduction of outboard boats equipped with powerful propulsion systems is increasing the demand for multiple large outboard engines in the market.
• The US market for above 1,000 hp outboard engines will register around 2% gains through to 2026.
• Growing adoption of fuel-efficient diesel- powered recreational boats means increasing innovation in diesel-based recreational boating system is providing a positive outlook for the market. Moreover, the introduction of powerful and efficient diesel-based engines is supporting
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the adoption of recreational boats.
• The integration of rail fuel delivery systems, turbochargers, and exhausts with diesel-based engines is creating new industry trends. Furthermore, rising demand for fuel-efficient and quiet operating engines is strengthening the market revenue.
• In 2019, Europe was one of the major regions in the recreational boating market and is expected to witness 5.5% growth up to 2026.
• Government authorities are supporting water recreational activities across the European region and public authorities are launching projects to spread awareness related to water sports activities.
• Companies are adopting various strategies such as technological development, mergers and acquisitions, collaborations, sales channel expansion, and product innovation for business expansion.
boating
superyacht
Shipping
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