Shipbuilding Anti-Vibration Market Share, Size, Trends, Industry Analysis Report, By Product Type (Mounts, Bellows, Washers, Bearing Pads, and Others); By Function Type; By Application; By Material; By Region; Segment Forecast, 2022 - 2030
- Published Date:Dec-2022
- Pages: 101
- Format: PDF
- Report ID: PM2908
- Base Year: 2021
- Historical Data: 2018-2020
Report Summary
The global shipbuilding anti-vibration market was valued at USD 908.3 million in 2021 and is expected to grow at a CAGR of 5.7% during the forecast period.
A rapid growth in consumer spending capacity, shifting their preferences towards luxurious products, and continuously growing demand for ships that offer high-quality comfort are major factors fueling the demand and growth of the global market. In addition, intensifying need for mounts, bellows, and other anti-vibration products from several shipbuilding applications like HVAC, propulsion engines, and compressors, along with rise in activities such as ship repair & maintenance in some countries, including India, South Korea, and China are expected to provide high growth opportunities for the market growth.
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Moreover, the shipbuilding anti-vibration market is expecting high demand due to rising concerns over environmental and dangerous health effects of marine sulfur emissions coupled with the rising technological advances in industrial components worldwide.
However, stringent industry regulations, problems associated with component reliability, and high production costs are key factors expected to hinder the growth of the global industry over the coming years. Due to these issues, manufacturers must upgrade and innovate their products to consolidate their market position.
The outbreak of the COVID-19 pandemic has significantly impacted the market’s growth. The emergence of coronavirus has forced countries to impose lockdown and various other regulations to control the spread of COVID-19. The pandemic led to a decline in transportation and other maritime activities, resulting in high disintegration in the shipbuilding anti-vibration industry. However, after the third quarter of 2021, the impact of COVID has started demolishing and global trade volumes started to recover.
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Industry Dynamics
Growth Drivers
Increasing consumer disposable income and spending power, coupled with their growing preference for luxurious and rich lifestyles across the globe, are major factors projected to drive the growth of the global market extensively over the coming years. The industry for shipbuilding ant-vibration products is expanding at a high rate due to the integration of several anti-vibration products in shipbuilding to cater to the rising demand for ships that provide higher comfort globally.
Moreover, in the last few decades, consumer inclination towards sailing holiday activities is on the rise and high in demand as compared to other forms of touring different places like by car, cruise ship, & island hopping across the globe and especially in European region as it is a low compact & more affordable mode of transport at the coastal areas, are other key factors expected to boost the adoption of the anti-vibration components in the shipbuilding sector in the coming years.
Report Segmentation
The market is primarily segmented based on product type, function type, application, material, and region.
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By Product Type |
By Function Type |
By Application |
By Material |
By Region |
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Bearing pads segment is expected to witness fastest growth
The bearing pads segment is expected to emerge as fastest growing segment during the projected period. The growth of the segment market is mainly attributable to its wide usage in several applications, such as gas turbine exhausts, power units, generator sets, OEM engines, auxiliary systems, and marine propulsion systems in the shipbuilding sector. Moreover, the ability to bear pads to withstand heavy loads and growing penetration of these types of products worldwide are likely to fuel the adoption and demand extensively in the coming years.
In addition, the bellows segment is projected to register significant growth owing to an increasing number of bellows applications in gas turbines, mechanical seals, engine exhaust systems, and thermal expansion tanks. Rapid growth of various industries such as automotive, power generation, oil & gas, water treatment, and industrial components are key factors estimated to boost the sales of bellows in the global market.
HVAC vibration segment accounted for a substantial revenue share in 2021
HVAC vibration segment accounted for the most significant global market revenue share and is projected to grow significantly over the anticipated period. The rapid development in shipbuilding industry and high adoption of advanced technology, especially in developing nations such as India, China, and Indonesia. Furthermore, its high capabilities and capacity to control an entire ship onboard expand its use in several types of applications, including tugboats, yachts, bulk containers, and cruise ships, propelling the segment market growth.
Furthermore, the generator & pumps segment is expected to grow significantly over the coming years on account of rapid rise in the seaborne trade globally because of the strengthening interregional trade practices and growing trends in the manufacturing sector of commercial vessels and shipbuilding operations. The demand for generators will also gather high growth with a rising focus on retrofits of existing vessels in the industry and high technological advances in engines across the globe.
Fishing boats held a significant market share in 2021
The fishing boats segment was the leading segment in 2021 owing to high consumption of fish across the globe and mainly in countries of Asia Pacific like China, Japan, and India, coupled with the rising import and export operations. In addition, rise in popularity of various recreational activities and high consumer awareness towards the health benefits of seafood are anticipated to spur the demand for fishing boats during the forecast period.
Furthermore, bulk carriers segment held the largest market share in terms of revenue. The rapid increase in global international trade across various categories, including oil, steel, FMCG, chemicals, fertilizers, minerals, and automobiles is a major reason for the market's growth in recent years.
Elastomer segment is projected to hold a significant market share
Elastomer segment is witnessing high growth during the anticipated period owing to its various properties, such as increased resistance to oil, impact strength, good resilience, and lightweight. In the last few years, the use of thermoplastic polyurethane elastomer has been on the rise as an alternative to rubber & PVC without compromising on the performance parameters, with reduced thickness, & better UV resistance. Moreover, various newer product developments in the global elastomer market are likely to augment the segment’s growth.
The demand in Asia Pacific is expected to witness significant growth
The Asia Pacific is expected to grow at fastest CAGR during the forecast period. The growth of the regional market can be attributed to the rapid economic development along with the high growth expansion of manufacturing and energy sectors in the region. Moreover, increasing government investment and rising number of developing activities such as shipbuilding and expanding ports are further likely to be key factors driving the market's growth at a significant growth rate in the coming years.
For instance, in July 2021, the Chinese government announced its plan to expand Shanghai Port, focusing on the enlargement of regional port operations and high technology enhancement at their port. It has been forecasted that the Shanghai port will achieve the landmark of handling around 47 million TEUs annually by 2025.
However, North America accounted for a significant market share in 2021 and is projected to maintain its position throughout the projected period. The market’s growth is mainly driven by early adoption of advanced technology and presence of many developed countries in the region, such as United States and Canada.
In addition, the emergence of Internet of Things and a growing number of products launched by key market companies is one of the major changes in the maritime industry’s equipment purchasing policies. It is likely to fuel the growth of the regional market rapidly in the next coming years.
Competitive Insight
Key players include Trelleborg, Parker LORD, Hutchinson Paulstra, GMT Rubber-Metal-Technic, Continental AG, Vibracoustics, AMC Mecanocaucho, Getzner Werkstoffe, Bridgestone Industrial, and Angst + Pfister.
Recent Developments
In November 2021, Parker Lord announced their new distribution partner of industrial vibration products in the UK, “Ashton Seals.” With this agreement, customers of Ashton Seals have complete access to the full range of industrial vibration & the necessary technical support network of the Parker LORD.
In October 2022, Trelleborg announced that the company had finalized the acquisition of German-based manufacturer MG Silikon. The company has specialization in various industrial and aerospace applications and has its head office and manufacturing facility in Lindau, Germany, with annual sales of nearly SEK 120 M.
Shipbuilding Anti-Vibration Market Report Scope
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Report Attributes |
Details |
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Market size value in 2022 |
USD 956.1 million |
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Revenue forecast in 2030 |
USD 1,487 million |
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CAGR |
5.7% from 2022 – 2030 |
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Base year |
2021 |
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Historical data |
2018 – 2020 |
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Forecast period |
2022 – 2030 |
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Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
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Segments Covered |
By Product Type, By Function Type, By Application, By Material, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Trelleborg, Parker LORD, Hutchinson Paulstra SNC, GMT Rubber-Metal-Technic Ltd., Continental AG, Vibracoustics Ltd., AMC Mecanocaucho, Getzner Werkstoffe GmbH, Bridgestone Industrial, and Angst + Pfister. |
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