Rockville, MD -- (SBWIRE) -- 07/19/2018 -- Marine Penetrators Market: Overview
Marine penetrators are of great importance in any marine vessel whether it is a cruise ship full of luxury and comfort or any other ship used for transportation or a war ship to protect the water boundaries of a state. Marine penetrators are a necessity and find various applications in a vessel such as signal transmission. Marine penetrators are used in underwater as well as surface water ships/marines for the connectivity of different components. They are water proof, rust proof and flexible. Marine penetrators do not have standard designs and can be customized according to the need of the ship/marine or customer. Marine penetrators pass through several tests, such as high pressure gas, high pressure liquid, current load, HVAC, HVDC and signal quality, to ensure high quality standards.
Increasing trade among nations in the present era of globalization can be considered as the prominent factor behind the growth of the shipping and marine industry. The rise in water-based logistic activities has led to a continuous increase in sea traffic, which has fuelled the demand for ships & cargos in the past few years. This factor is expected to boost the shipbuilding industry during the forecast period, which in turn will create demand for the marine penetrators market over the forecast period. Several nations have shifted their focus to enhance international investments and trade practices and marine transportation is one of the main substitutes for other modes of transportation such as road, rail and airway. Moreover, growth in travel, transportation and leisure sectors is an important factor accelerating the growth of penetrators/connectors in the marine penetrators market. Also, the increase in repair and maintenance services/activities is expected to create opportunities in the aftermarket segment and leverage marine penetrator market growth.
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Additionally, the ongoing increase in demand for subsea connectors/penetrators and advanced connectivity solutions for better and reliable performance latently supports the growth of the marine penetrators market. Nowadays, deep water penetrators are being developed to meet the needs of the marine industry – from shallow water use to full ocean depth rating. Additional, hybrid and optical type marine penetrators are gaining traction in the marine penetrator market owing to their advanced features, such as superior performance in underwater submarines. This factor is expected to become the driver for the marine penetrator market in the future.
The global marine penetrators market can be divided into seven geographical regions, namely North America, Latin America, South East Asia & Pacific, Europe, China, Japan, Middle East and Africa. South East Asia & Pacific and China are expected to remain the most attractive regions in the global marine penetrators market. These regions have high demand for marine penetrators, which is driven by the demand from ship building industries. However, in terms of production, Europe and North America are expected to hold a major share of the marine penetrators market where North America is expected to be a prominent market in terms of demand. Moreover, Latin America is also estimated to grow with a significant growth rate over the forecast period, owing to the growing logistic and marine industry in the region.
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Marine Penetrators Market: Market Participants Examples of some of the market participants identified across the value chain of the global marine penetrators market include: Teledyne Marine MacArtney A/S Birns Inc. C.R.Encapsulation Limited TE Connectivity Ltd. Blue Robotics Inc. GISMA Steckverbinder GmbH Scientific Management International Hydro Group plc. BIRNS Aquamate LLC
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