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A country is mostly dependent on various resources such as oil & gas, minerals, fossil fuel, and among other resources on other countries, were water transportation plays a crucial role in the growth of the country. Maritime transport is an integral part of international logistics and accounts for nearly 80% of the volume of global trade. Hence, developments in maritime transport and international seaborne trade are shaped by worldwide macroeconomic conditions. Marine airbags are widely used for ship launching, marine salvage, and heavy transportation these days, whereas the most popular application of these marine airbags, is to launch a ship. The use of airbags helps to remove the elimination of using tows and tugs as launching and landing instruments. Marine airbags are made of synthetic rubber as reinforcement layers and stringent quality control compliances. Marine airbags comprise three significant parts namely airbag body, airbag mouths, and airbag heads. It is considered more powerful and advanced tools for many marine projects which includes disembarking ships, heavy transportation, and re-floating salvage.
The marine airbags market is segmented into type, application, and geography. Based on type, the market is segmented into ship launching airbags, marine salvage airbags, and heavy lifting airbags. The marine airbags is dominated by ship launching segment owing to its wide range of application in ship launching such as tanker, tugboat or barges, carrier, carrying vessel, ferry and other special vessels. The application segment is further segmented into civil ship and military ship. The civil ship segment is expected to drive the market due to its growing demand for marine applications such as naval salvage, floating docks, lifting and transporting heavyweight objects, deep-sea breeding net cage, large watertight chambers used for underwater construction activities.
Key Market Driver -
Increasing Application of marine airbags in marine projects
Key Market Restraint -
Not viable for ships having DWT higher than 80,000 tons
The increasing demand for marine airbags in marine projects, which includes landing, lifting, disembarking, cargo boat launching, marine salvage and heavy transportation is the primary factor driving the demand for the marine airbags market during the forecast period. Rising demand for maritime transport and increasing investments for building new ships from the marine industry, spur new opportunities for the growth of the marine airbags market. However, marine airbags are not viable for ships having deadweight tonnage (DWT) higher than 80,000 tons, which restraints the market growth.
Some of the globally acclaimed companies for marine airbags are JIER Marine, HI-SEA Marine, Max Groups Marine, Qingdao Luhang Marine Airbag and Fender Co., Ltd, Shandong Nanhai Airbag Engineering Co., Ltd, Eversafe Marine Engineering CO., LTD, Zaoqiang Dacheng Rubber Co., Ltd., Pacific Manufacturing, Inc., and Shandong Nanhai Airbag Engineering Co., Ltd.
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The marine airbags market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is dominating the marine airbags market owing to increasing marine transportation activities in cargo boat launching, marine salvage, landing, lifting & disembarking and heavy transportation which propels the demand for marine airbags during the forecast period. North America is estimated to be the second-largest market for marine airbags, followed by the Asia-Pacific region owing to growing investments in the shipbuilding industry and increasing in sea-borne trading. Europe also propels the demand for marine airbag market due to increasing marine trading activities and increasing logistics performance. Hence, increasing investment for building new ships has a positive repercussion on the marine airbags market during the forecast period.
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