CHICAGO, May 10, 2022 /PRNewswire/ -- According to the report "Shipbuilding Anti-Vibration Market by Material, Product Type (Mounts, Bearing Pads, Bellows, Washers), Function Type (Engine Vibration, HVAC Vibration, Generators & Pumps), Application and Region - Global Forecast to 2027", published by MarketsandMarkets, the global Shipbuilding Anti-Vibration Market size is projected to reach USD 1253 million by 2027 from USD 958 million in 2022, at a CAGR of 5.5% during the forecast period. The growing demand for shipbuilding anti-vibration from marine industry, as well as rising disposable income in emerging economies are the major drivers for the market. Intensifying need for mounts and others anti-vibration products from various shipbuilding application such as propulsion engine, HVAC, and compressors is also driving the shipbuilding anti-vibration market. Increase in activities such as ship repair & maintenance and shipbuilding in some economies such as India, China, South Korea etc. expected to provide huge opportunities for the growth of shipbuilding anti-vibration market.
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The shipbuilding anti-vibration market includes major Tier I and II suppliers like Trelleborg, Continental, Hutchinson Paulstra, GMT Rubber, and Parker LORD. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and RoW. COVID-19 has impacted their businesses as well. Multiple manufacturing facilities of players have shut down due to COVID-19. This also translates into a snowballing effect on the shipbuilding anti-vibration market.
Based on product type, bearing pads product type is estimated to be the fastest-growing market in the overall shipbuilding anti-vibration market during forecast period.
The bearing pads product type segment is the largest and fastest growing segment from 2022-2027. Bearing pads have a wide range of applications in engines, motors etc. The key growth driver of the high consumption of these bearing pads is owing to the increasing demand from ship repair & maintenance industry.
Based on function type, Engine Vibration is estimated to be the fastest-growing market in the overall shipbuilding market during forecast period.
The engine vibration segment is the biggest and fastest-growing market during 2022-2027. The key growth driver of the high consumption in this segment is owing to their demand in various applications such as container ships, tugs, yachts, oil tankers etc. Generators and Pumps is the second-fastest growing market, the growth is attributed to increasing demand for power generation and supply.
Based on material, Others (Fiber) is expected to be the fastest-growing segment in the overall shipbuilding anti-vibration market during forecast period.
The Others (Fiber) is the largest material segment of shipbuilding anti-vibration. Its growth is attributed to increasing demand from market players to improve/change the properties of raw material (rubber & plastic) through reinforcement.
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Based on application, Container ships is expected to be the fastest-growing segment in the overall shipbuilding anti-vibration market during forecast period.
The Container ships application is the fastest-growing segment of shipbuilding anti-vibration. Its growth is attributed to the increase in containerized trade across globe. Tugs is the second fastest-growing segment in the shipbuilding anti-vibration market. The growth of this segment is attributed to the rising demand for large and bulky ships for transportation that will also fuel the demand for anti-vibration products for tugboats.
Based on region, APAC is projected to grow the fastest in the shipbuilding anti-vibration market during the forecast period.
APAC is the fastest-growing market for shipbuilding anti-vibration market. The scaling trade activities and infrastructural developments in the shipping industry-in the form of an increasing port network-are the key factors behind the high demand for shipbuilding anti-vibration. The Chinese and South Korean are the major consumers of anti-vibration products for shipbuilding.
The key players in the shipbuilding anti-vibration market include Trelleborg (Sweden), Parker LORD (US), Hutchinson Paulstra (France), GMT Rubber-Metal-Technic Ltd. (UK), Continental (Germany), AMC Mecanocaucho (Spain), Getzner Werkestoffe GmbH (Austria), Vibracoustics Ltd. (UK), Angst+Pfiser (Switzerland), and Bridgestone Industrial (Japan). These players have established a strong foothold in the market by adopting strategies, such as agreements & collaborations, and mergers & acquisitions.
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