INDUSTRY REPORT
“ Shipbuilding relies heavily on the supplied inputs of other industries , with approximatively 70 to 80 % of the final output value of ship production being generated through the upstream supply chain ( OECD , 2019a ). While , in the past , shipyards were often responsible for the production of most main equipment , nowadays sourcing covers almost every phase performed in shipbuilding , resulting in the development of so-called ‘ assembly shipyards ’. Consequently , the shipbuilding supply chain can be subdivided into several segments : shipyards and boatyards , component suppliers and material suppliers ( such as steel and metals ) and subcontractors providing different types of services . Marine equipment manufacturers are a key part of maritime component suppliers ,” commented the OECD in a report last year .
Floating drydock . Image : Pacific Shipyards .
Maritime industry trends in 2024
How are emerging technologies shaping the future of the maritime industry ? StartUs Insights analysed 1163 maritime start-ups and scale-ups for data-driven insights into the technology-driven solutions opposite .
Marine equipment markets
Marine equipment commonly refers to the machinery , parts and raw materials used for the building , conversion and maintenance of ships . The marine equipment industry , as the main upstream sector for the shipbuilding industry , is an important source of employment in many countries . One job in the shipbuilding industry can lead to the generation of around ten jobs .
According to the OECD ’ s 2023 report analysing the marine equipment industry and its challenges , the European Union is the world ’ s largest supplier of marine equipment ( including services ) followed by Korea , China and Japan . In the marine diesel engine market , which is the largest trade segment in marine equipment , the EU posted net exports of US $ 12.9 billion between 2019 and 2020 , making it the largest exporter . The EU also leads the global export market for marine turbines , propellers and blades .
Japan is the dominant exporter in the outboard motor market , with exports reaching US $ 37.2 billion in the two
Image : Pacific Shipyards .
1 . Artificial intelligence . 2 . Clean energy . 3 . Maritime robotics . 4 . Energy-efficient integrations . 5 . Maritime IoT . 6 . Blockchain . 7 . Big Data and analytics . 8 . Immersive reality . 9 . 5G . 10 . Cybersecurity .
The marine equipment industry , as the main upstream sector for the shipbuilding industry , is an important source of employment in many countries
years up to 2023 , which is about 1.9 times the total export value of the EU , the United States and China during the same period . Japan is also a leading exporter in the marine reciprocating engine market .
“ Various mid- to long-term market trends are affecting the marine equipment sector , with the COVID-19 crisis notably highlighting challenges to the resilience of global value chains . While the paradigm of the shipbuilding industry is rapidly shifting to eco-friendly ships in line with the International Maritime Organisation ’ s ( IMO ) goal of reducing greenhouse gas emissions , the digitalisation of the shipbuilding and marine equipment industries is expected to accelerate the ‘ smartisation ’ of ships and autonomous ship operation ,” said the OECD report .
“ This ‘ twin transition ’ of decarbonisation and digitalisation has the potential to drastically impact marine equipment technologies and change maritime business models and the maritime transport industry ,” it continued .
According to the report , global marine equipment value chains also appear significantly more complex than value chains of other industrial sectors ( such as the automotive and aircraft industries ) given the large number of marine suppliers at both first-tier and second-tier levels .
Decarbonising the industry
The shipping industry aims to be carbon-neutral by 2050 ; an ambitious goal that requires an enormous effort . As the ‘ SMM Maritime Industry Report 2023 ( MIR )’ shows , it remains to be seen which ship propulsion technology will ultimately prevail . The report was compiled by market research institute , Mindline , who asked over 1,000 decision-makers in 71 countries .
“ While many shipowners are taking a ‘ wait-and-see ’ approach , yards and suppliers are already offering innovative efficiency-enhancing and decarbonisation solutions . There can be no doubt : decarbonisation will be the top item on the maritime sector ’ s agenda for the coming years ,” said the report .
Not every decision-maker in the industry believes it is attainable , according to the current SMM Maritime Industry Report commissioned by Hamburg Messe und Congress .
“ The SMM Maritime Industry Report 2023 reveals a certain bewilderment across the maritime sector about which propulsion technology will ultimately prevail and which alternative fuel will be available in sufficient quantities ,” said Claus Ulrich Selbach , Business Unit Director , Maritime and Technology Fairs & Exhibitions at Hamburg Messe und Congress .
However , the industry is making every effort to develop ways to reduce emissions from ships . According to the report ,
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