Harbor Craft Market: Introduction
Harbor crafts are multi-purpose workboats that carry crew, supplies, and spares to vessels at anchorage or outside port limits. Harbor crafts are used for a variety of purposes, including private use, entertainment, sporting events, military use, and rescue operations. The harbor crafts are available in several different types and sizes. Unpowered and man-powered harbor crafts are classified into two types, and they come in a range of shapes and sizes. Fishing harbor crafts are specifically made for fishing and can be used in both saltwater and freshwater. Different types of harbor crafts like crew and supply harbor crafts which are mainly source for construction, oil and gas sites are used which provide a good source for efficient work operations.
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Harbor Craft Market: Dynamics
As a result of technological advancements, the maritime industry has seen an increase in the appeal of technologically advanced features in different harbor craft vessel types. Recent industry trends such as the advancement of autonomous harbor crafts, the adoption of IoT technology, initiatives aimed at attracting millennials to harbor crafts, and the commercialization of hybrid leisure harbor crafts all present significant opportunities for the harbor craft market.
As demand for tailored leisure harbor vessels fitted with new features and technologies such as GPS tracking systems, automated handling system and infotainment systems by which sales of harbor craft are expected to rise. Companies are offering customization of design, cabin decor, and integrated electronics in response to changing lifestyles and technological advancements which are driving up the growth of harbor craft market. The significant source of diesel PM and NOx pollution in the harbor craft industry is a major source of market growth restriction. Furthermore, harbor craft activities are often located near heavily populated areas, exposing residents to harmful levels of pollution which are restraining the growth of harbor craft market.
In addition, market participants will see an opportunity in the current state of engine technology in the commercial harbor craft fleet, as well as advances in engine technology, alternative fuels, engine retrofit technologies, fuel cells, batteries, renewable energy sources, and hybrid systems incorporating multiple technologies, in the coming years and vessel efficiency improvements to expand their business footprint. The fundamental trend in the industry as near-term emission reductions that can be produced by hybridization of existing or new vessels are the fundamental development in the industry that is being considered. Fuel cell and battery electric propulsion system demonstrations should be welcomed, and lower marine engine emission requirements should be considered.
Harbor Craft Market: Segmentation
The global harbor craft market can be segmented on the basis of application, boat type and region.
On the basis of application, the harbor craft market is segmented as:
- Fishing
- Transportation
- Water sports
- Sailing
- others
On the basis of boat type, the harbor craft market is segmented as:
- Ferries
- Tug boats
- Tow boats
- Crew vessels
- Work boats
- Charter boats
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Harbor Craft Market: Regional Outlook
Growing marine and coastal activities have drew buyers from all over Europe and North America to the harbor craft market. Furthermore, due to growing sea trade, Asia Pacific countries such as China and ASEAN countries are seeing new growth opportunities in the industry. The growing popularity of recreational boating in countries such as Japan, China, and Australia is fueling regional market expansion.
Latin America and Middle East & Africa regions are anticipated to witness steady growth during the forecast period in Harbor craft market. The Harbor craft market’s growth has also been aided by government initiatives aimed at developing marine tourism in various countries. In the coming years, improving infrastructure, and evolving regulations are expected to have a positive effect on the marine industry.
Harbor Craft Market: Key Players
Some of the key market participants in the global Harbor craft market, identified across the value chain include:
- DAMEN
- BORD A BORD
- Arctic Boat
- HUKKELBERG BOATS
- Tideman Boats BV
- Hatloy Maritime AS
- Aresa Internacional
- Titan Boats
- Holy head Marine services
- Metal Shark
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