The evolution in the marine industry has led to higher acceptance of equipment such as marine winch motors, which are used for handling wire and ropes and works by spooling the wire. Marine winch motors are generally installed on marine deck and are available in various types including AC motors and DC Motors. Steam winches were common but are now obsolete.
Marine winch motors are expected to emerge as an important equipment in the near future and will be used in various applications including anchor winches, cranes, capstans, mooring winches, etc. The marine winch motors market is currently in between the growth and mature stages, and the production of marine winch motors are directly related to the demand marine industry and their aftermarket.
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Marine Winch Motors Market: Market Dynamics
Sea transport is cheap and more energy efficient than other modes of transport. Currently, seaborne trade accounts for over 90% of global overseas trade. Hence, growth in sea borne trade will drive the demand of shipping containers, and consequently will drive the global marine winch motors market. Moreover, continuous fleet addition by shipping companies is also anticipated to give traction to the growth of marine winch motors market in the coming decade. That apart, increase in maritime tourism, upsurge the demand of new ships which ultimately will boost the demand marine winch motors market over the forecast period.
Slow growth in developed economies is expected to act as a restraining factor to the growth of marine winch motors market over the forecast period. Moreover, the global marine winch motors market is characterized by the presence of both giant as well as regional players. This factor is expected to create price competitiveness, which will hamper the growth of the marine winch motors market over the forecast period.
A major trend predicted five years down the line includes market leaders of marine winch motors are continuously focusing on R&D to develop new and effective product to meet consumer demand. Increasing concerns such as environmental pollution and regulations focused the marine winch motors manufacturer to develop products that reduce vibration and increase efficiency
Marine Winch Motors Market: Segmentation
The global marine winch motors market can be segmented on the basis of type, sales channel and applications.
On the basis of type, the global marine winch motors market can be segmented as:
- AC Motors
- Induction Motors
- Synchronous Motors
- DC Motors
- Brush DC
- Brushless DC
On the basis of sales channel, the global marine winch motors market can be segmented as:
- OEM (Original Equipment Manufacturer)
On the basis of application, the global marine winch motors market can be segmented as:
- Anchor Winches
- Mooring Winches
Marine Winch Motors Market: Regional Outlook
The regional demand dynamics can be directly correlated with the demand from marine industry. Over the forecast period, Asia Pacific region is estimated to witness enormous growth in the marine winch motors market as marine Industry is one the matured industries in the region. China, South Korea and ASEAN are expected to remain as major growth contributors. Moreover, developed countries in Western Europe, such as Germany and U.K. are estimated to grow at a significant CAGR over the forecast period in global marine winch motors market owing to increase in sea borne trade. Developing economies such as Latin America is probably to witness the growth of marine winch motors market over the forecast period owing to increase in demand. Middle East & Africa is anticipated to grow at a considerable CAGR during the forecast period in global marine winch motors market owing to increase in maritime tourism in the region.
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Marine Winch Motors Market: Market Participants
Example of some of the key participants identified across the value chain of global marine winch motors market include:
- ABB Group
- Siemens AG
- Haacon Hebetechnik GmbH
- Johnson Electric
- General Electric
- Nidec Corporation
- Allied Motion Technologies Inc.