Overview:

The global marine interiors market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Marine interior is an overall designing process of inside of the vessel. Many naval architects, interior designers, environmental psychologists, and industrial designers work to develop an effective marine interior design. The marine interior improves the aesthetics of the ship or any vessel, as well as it aids in its cost.

Market Dynamics:

In recent years, maritime trade and maritime tourism has grown at very high rate. These are the key factor resulted in growth of the global marine interior market in recent years. Also, growing refurbishment activity among several cruise lines to upgrade their ships and reduce capital expenditure is driving demand for the installation of marine interior across the globe.

In addition, growing tourism sector, increasing spending capacity of individuals, and growing number of travellers are some major factors supporting target market growth. Additionally, rising demand for customized marine interior is among the other factors fueling growth of the global market. Moreover, additive manufacturing technology to produce marine interior is expected to offer lucrative growth opportunities for key players in the global marine interiors market.

Key Trends:

Increasing number of strategic contracts and tie-ups among major market players to gain a significant revenue growth is a key trend witnessed in the global marine interiors market. For instance, in February 2020, TUI Group and Royal Caribbean announced to extend their joint venture to improve the growth of the company by attracting new customers. This kind of strategic initiatives are expected to accelerate growth of the target market in the near future.

Regional Analysis:

For detailed understanding of market dynamics, the global marine interiors market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Europe accounted for the major revenue share in 2019 and is expected to maintain its dominance over the forecast period. This is attributed to presence of key market players and consumers in countries in the region.

However, the target market in Asia Pacific is expected to register significant CAGR during the forecast period. This is due to rising marine tourism in South East Asia and increasing economic growth of the countries in the region.

Scope of the Report:

Detailed Segmentation:

Global Marine Interiors Market, By Ship Type:

• Commercial
  • Passenger Vessels
  • Cargo Vessels
  • Others (Yachts, Dredgers, and Research Vessels)
• Defense

Global Marine Interiors Market, By Installation:

• New Fit
• Refit

Global Marine Interiors Market, By Material:

• Steel
• Composite
• Aluminum
• Joinery
• Other Material

Global Marine Interiors Market, By Application:

• Passenger Area
• Public Area
• Crew Area
• Other Area

Key Players Covered:

Key players operating in the global marine interiors market includes Aros Marine, Forbo Flooring Systems, Marine Interior S.p.A., ALMACO Group Oy, Aros Marine, Tillberg Design AB, Kaefer GmbH, Mivan Marine Ltd, NORAC AS, and R&M Group.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Marine Interiors Market by ship type, installation, material, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global marine interiors market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.