The new report by Expert Market Research titled, ‘Global, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global ship hull inspection services market, assessing the market based on its segments like inspection types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 2.5%
• Forecast Market Size (2027): USD 14.53 billion
The technological advancements in ship hull inspection services, along with the growing adoption of complete automated ultrasonic scanning inspection machines, is a significant driver for the growth of the market. The European region is one of the leading regional markets in the global ship hull inspection services market, alongside North America and the Asia Pacific. The significant presence and growing development of the shipping and maritime industry in the regions are aiding the market growth.
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Ship Hull Inspection Services Industry Definition and Major Segments
The hull inspection services are underwater works to inspect and maintain the vessel parts in water in lieu of dry-docking at the shipyard. The primary advantage of ship hull inspection services is to enhance and understand the ship’s condition.
The market on the basis of inspection type can be divided into:
• Coating Condition
• General Corrosion
• Pitting and Grooving
On the basis of application, the market is categorised into:
• Cruise Ships
• Commercial Vehicles
• Container Ships
• Naval Ships/Military Vessels
• Offshore Oil and Gas Ships
• Bunker Vessels
On the basis of region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Ship Hull Inspection Services Market Trends
The market in the Middle East and Africa is increasing at a steady growth rate due to the increasing sea trade and an increase in the demand for new ships. The rising demand for shipping operations globally is expected to aid the market growth. The expanding ship repair and maintenance supply chains are projected to further bolster the market growth.
With rising trade agreements, increasing sea routes, and recent growth in economies across the globe, the market is expected to witness a further growth. However, it might be adversely affected in 2020 due to the outbreak of the COVID-19 pandemic, which brought the global trade to a temporary halt.
Key Market Players
The major players in the market are Blueye Robotics AS, Deep Trekker Inc., AIM Control Inspection Group, Carisbrooke Shipping Limited, Commercial Diving Services Pty Ltd, IMF Technical Services Ltd, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.