A shiplift is a large elevator platform that raises the ship out of water for dry-docking ashore and lowers it back into water after completion of work. It is also used to launch new ships from shipyards. The ship transfer system has electro-hydraulic trolleys, which are designed to transfer ships from shiplifts to dry berths on land. Shiplifts & transfer systems fall into three categories: winched, hydraulic lift docks & floating dock lifts.
The shiplifts & transfer systems market report covers comprehensive information about market trends, volume (Units) and value (US$ Mn) projections, market dynamics, competition and recent developments regarding the global shiplifts & transfer systems market for the study period (2018–2026).
The global shiplifts & transfer systems market is expected to reach a little over US$ 774.5 Mn by the end of the forecast period, registering a CAGR of 3.3%. Advancements in manufacturing techniques and the strong outlook of the shipbuilding industry are expected to set a firm platform for the growth of the global shiplifts & transfer systems market.
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Winched Type Segment to Dominate the Global Shiplifts & Transfer Systems Market Throughout the Forecast Period
By type, the shiplifts & transfer systems market has been segmented into winched, hydraulic lift dock and floating dock lift. The winched type shiplifts & transfer systems segment is anticipated to dominate the global shiplifts & transfer systems market in terms of value during the entire forecast period. Shiplifts with winches are the most common shiplifts preferred by shipyard owners. As of 2017, the value of the winched type shiplifts & transfer systems segment was pegged to be about 1.9 to 2.1 times higher than that of the hydraulic lift dock segment. The hydraulic dock lift segment is expected to register 1.2X faster growth than the floating lift dock segment during the study period.
Growth in Seaborne Trade Activities is Estimated to Boost the Demand for Shiplifts & Transfer Systems
Sea transport is cheap and more energy efficient as compared to other modes of transport. Currently, seaborne trade accounts for over 90% of the global overseas trade. As one of the important international trades in the world, seaborne transportation is estimated to play a pivot role in the world’s rapid industrialization and advancement, permitting the transportation of large volumes of processed and raw materials as well as water, food and other products.
Growing seaborne trade activities across the developed and developing economics surge the demand for shipping containers and consequently, drive the global shiplifts & transfer systems market.
The Flexible Tire Based Segment is Slated to Exhibit Above-Average Growth
Amongst all the modes analyzed in the global shiplifts & transfer systems market study, the flexible tire based segment is expected to hold a dominant share throughout the forecast period. The segment is estimated to register about 1.08X the overall growth in terms of value. Flexible tire based solutions allow more freedom to maximize the space capacity of shipyard compared to the rail based segment.
In terms of absolute $ opportunity, the flexible tire based segment is expected to hold more than 60.0% of the total absolute $ opportunity created by the global shiplifts & transfer systems market
Europe Followed by China and SEA Pacific – Potential Markets for Shiplifts & Transfer Systems
Attributing to favorable macro-economic factors, it is estimated that new shipbuilding requirements will be on the rise, albeit at a low growth rate. This is expected to drive the growth in the demand for shiplifts & transfer systems. Asia Pacific is a major shipbuilding hub in the world. South Korea – a leading market for shipbuilding – has faced significant crisis in the recent past. The increasing orders for new ships create an optimistic environment and thus, the shipbuilding industry in the region is expected to recover. This will further surge the demand for shiplifts & transfer systems over the forecast period.
China is expected to register 1.4X growth in the global shiplifts & transfer systems market, followed by South East Asia (SEA) & Pacific, Europe and MEA in terms of value. SEA & Pacific and China are anticipated to gain traction in the latter half of forecast period in the global shiplifts & transfer systems market, owing to fact that China plans to restructure some 70 shipyards.
Among all regions, China and SEA & Pacific are expected to gain significant market value shares in the global shiplifts & transfer systems market by the end of the forecast period. Collectively, the Middle East & Africa and Latin America are projected to register a CAGR of 5.0% by value, which is 3.3X lesser than the collective growth of all other regions.
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Shiplifts & Transfer Systems Market – Competitive Landscape
The global shiplifts & transfer systems market is moderately consolidated with the presence of few global as well as regional players across the globe. Globally, the top 13 players in the global shiplifts & transfer systems market collectively hold between a 70% and 80% share of the overall market in terms of value.
In the recent past, the shiplifts & transfer systems market has witnessed substantial developments from the competition perspective. Expansion, acquisitions and collaborations are some of the strategies opted by key players to expand and sustain in the global shiplifts & transfer systems market.