Sea Technology

FEB 2017

The industry's recognized authority for design, engineering and application of equipment and services in the global ocean community

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Page 9 of 72 February 2017 / st 9 soundings )) Marine Engines Market to Grow to $13.53 Billion in 2021. A new report on the marine engines market by Marketsand- Markets shows expected growth from $11.14 billion in 2016 to $13.53 billion in 2021 at a CAGR of 3.85 percent. This will be driven by rise in the shipbuilding industry, increased maritime trade and stringent emission norms. Asia-Pacific will remain the largest market for marine engines for the projected period of 2016 to 2021, driven by rise in the shipbuilding industry in China, Japan and South Korea. Another factor will be a rise in maritime trade in Southeast Asia spearheaded by China and other emerging economies such as Indonesia. Commercial vessels, as a consequence of increased shipbuilding orders for gas carriers and bulk carriers, will continue to have the largest market share for marine engines by vessel type, largely driven by rising economic growth in South Asia and Southeast Asia. With recent emission norms announced by IMO and the U.S. EPA, there will be an increase in share of the cleaner-fuel mix segments of marine engines. )) More Ports Join Global Port Data Project. Thirteen more ports have signed on to UNCTAD's port data project, bringing the total to 42 participating ports from Africa, Asia, Latin America and Europe. Better data analysis leads to better perfor- mance. Ports are the gateway for more than 80 percent of the raw materials, food, electronics and other goods of global trade, and improved port performance lowers trade costs, meaning better prices for consumers and more competitive busi- nesses in the global economy. "For ports to work better, managers need to benchmark their performance on a wide range of indicators," said project manager Mark Assaf. Most port data is aggregated at country—not individual port—level, and, with the exception of containers, few global standards exist. UNCTAD ensures the ports in the project agree on the indica- tors, the units of measurement and the methodology, and UNCTAD verifies the data. The project covers 23 indicators on financial stability, labor productivity and operational efficiency. The customized assessment, or scorecard, enables ports to target weaker links in their operations. The ports' scorecards, which currently assess data from 2010 to 2015, will be updated annually. )) Electric Boats, Ships Market to Exceed $20 Billion in 2027. IDTechEx's new report "Electric Boats and Ships 2017-2027" finds that the market for hybrid and pure electric boats and ships will rise rapidly to more than $20 billion worldwide in 2027 for nonmilitary versions. Recreational boats is the largest and fastest growing electric marine market in sales number, followed by underwater leisure and AUVs. The on-water commercial marine category is currently the largest marine EV value market. Leisure craft on inland waterways, notably in the U.S. and Europe, will become the largest sector as more places ban internal combustion engines. The decade will end with huge environmental pressures making owners of indus- trial and commercial seagoing craft clean up more rapidly. There is already a substantial and growing business in retrofit of hybrid electric ferries and other ships with pure electric or hybrid electric powertrains. There is also potential to sell hun- dreds of thousands of pure electric outboard motors yearly as they become more affordable and more energy harvesting is provided on the craft to charge the batteries, improving range. Steady improvement in battery performance and price will drive demand upward, as will faster charging. Challenges to market growth include the ability to maintain and find replace- ment components for these propulsion systems. )) German Arctic Office Established. The shrinking sea ice and collapsing permafrost coasts in the Arctic are becoming topics on the agenda of international politics and industry, not just science. To be able to offer direct scientific advice to decision-makers, the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) has now set up an of- fice for Arctic affairs at its Potsdam site. The German Arctic Office officially commenced work at the start of 2017. Although Germany is not an Arctic country, it is one of the leading Arctic research nations. Due to the geopolitical, geoeconomic and geoecological significance of the Arctic, which is changing rapidly as a result of global warming, the German government endeavors to make the Arctic a key issue of German politics, which requires a lot of scientific advice and support. The Arctic Office will hold an information event at the end of May with Finland at the Finnish Embassy in Berlin. In May 2017, Finland will take over chairmanship of the Arctic Council. )) Offshore Mooring Market to Reach $1.408 Million by 2022. Allied Market Research's new report on the offshore moor- ing market shows it was valued at $1.037 million in 2015 and is projected to reach $1.408 million by 2022, growing at a CAGR of 5.0 percent from 2016 to 2022. The spread segment dominated at more than one-fourth total market share in 2015. The offshore mooring market will grow due to increased demand for energy and extensive subsea exploration and production. The other factors driving the offshore mooring market are maturity of onshore oil and gas fields, rise in offshore field exploration, emergence of FPSO technology, growing importance of new clean electricity, and heavy investments from the Middle East and Latin America to develop infrastructure. However, factors such as high initial capex and harsh deep-sea environmental conditions hamper market growth. The FPSO segment is anticipated to grow at the fastest rate during the forecast period. The North America market is estimated to grow at a CAGR of 5.4 percent. Asia-Pacific is estimated to grow at a CAGR of 5.3 percent, and the FLNG segment in this region is expected to witness significant growth. The Asia-Pacific region accounted for the largest share in the global market, while the European region is expected to account for the second largest share due to increasing investments in ports, as well as increasing innovations in offshore mooring technologies. ST

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