Sales in the Marine Filter Market Soar through Key End-use Industries, Projects
Posted by Divakar on September 27th, 2019
Marine Filter – Market Overview
Supported by stronger global demand for maritime trade and expansion of vessel fleet, the demand for marine filters market is likely to be on the bright side. The global cruising industry has also witnessed significant growth with the rise in tourism activities, globalization and increased disposable income. This has led to increasing demand for marine vessels where marine filters are highly used. The marine filter is a fine mesh screen type filter that is used for removing the impurities from water, air and oil from ships. The marine filters are usually mounted in pairs so that one can be used and other can be on standby. The marine filters can be used at both the ends, suction (low pressure) and discharge (high pressure). The frequency of marine filters depends upon their type.
Marine Filter – Market Dynamics
The global seaborne trade is in a growing phase, owing to the upswing in the world economy. Seaborne trade is expanding at a growth rate of four percent in the last five years. The global maritime industry has also gathered momentum and raised an occupancy in the shipping industry. Following the trend of containerized trade, the demand for shipping vessel has increased much. The higher need for shipping vessel has created ample opportunities for marine filter market. The maritime industry forms an essential part of the region’s economy. The key market driving factor for the marine filter market is maritime trade. The rise in oil and gas sector, mining sector and others are projected to propel the demand for marine filter in the global market. Due to a higher replacement rate of marine filters, the sales in the aftermarket is likely to increase at a robust pace in the coming years. The higher sales in aftermarket marine filters are further supported by growing shipbuilding and maintenance industry in emerging economies including India and China.
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Marine Filter Market – Regional Analysis
The global marine filter market is segmented into eight regions: North America, Europe, MEA, East Asia, South Asia, Oceania, Latin America, and the Middle East and Africa. Globally, East Asia and South Asia regions hold the highest market share in the marine filter market with China and India being the primary market for marine filter. The higher demand in these countries is due to rise in shipbuilding and maintenance industry. The growth is further supported by increasing mining activities and coal industry in Asian Countries. The demand for marine filters in European countries has increased substantially owing to the rise in maritime trade in these regions. The North American marine filters market also shows robust growth rate, owing to an increase in oil and gas industry, particularly in these regions. The higher demand for maritime trade in gulf countries has further boosted the sales of marine filter in the global market.
Marine Filter Market- Key Segments
According to the filter type, the marine filter is segmented as:
According to the vessel type, the marine filter is segmented as:
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According to the sales channel, the marine filter is segmented as:
Marine Filter Market- Key Manufacturers
Some of the major key players in the marine filter market are PARKER HANNIFIN CORP, Donaldson Company, Inc., Seastar Solution, Sole Diesel, EVAL, Promarine, Whale, Forespar, Boll & Kirch Filterbau GmbH, Baldwin Filters, Pall Corporation, Yacht-Mate and other prominent players.
Marine Filter Market- Competitive Analysis
The global marine Filter market is moderately concentrated. Due to low R&D investment, the manufacturers are producing conventional filter for different application. The market is in the growth phase, and the competition is expected to become less intense by the end of the forecast period. More modern technologies are needed to be introduced to remain in sync with the global demand. The manufacturers are focusing on developing more advanced filters, which is intended to enhance the product life cycle of marine filters.
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About the AuthorDivakar
Joined: January 23rd, 2017
Articles Posted: 1,148
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