The global marine hatch covers market is expected to reach a valuation of USD 157.5 million in 2023. The extensive industry value and wide range of applications in various sectors are presumed to be the market's primary growth drivers. The market for marine hatch covers is projected to record a robust CAGR of 7.6% between 2023 and 2033, totaling around USD 327.7 million by the end of 2033.
Hatch covers are employed to protect interior fabrics and wood from fading and malfunction induced by UV rays and decrease interior cabin temperature. The interior temperature in the cabin causes the plastic-like material to become brittle over time. It also keeps the cabin from warming up and makes the air conditioning system run more efficiently.
By making the cargo and cargo spaces watertight, the marine hatch covers and protects them. Closing the hatch unveiling prevents water from entering the cargo, protects the goods from being damaged or dumped, and can also be especially in comparison to the lid on a box.
Lifting type, folding type, rolling type, roll stowing type, and sliding type are the most common types of hatch covers used on ships. Container ships primarily use lift-away and lifting-type hatch covers. In general, folding hatch covers are commonly used on cargo ships. Rolling-type marine hatch covers are used primarily in bulk carriers and are classified as piggyback & telescopic, side rolling, and end rolling.
| Report Attributes or Data Points | Details |
|---|---|
| Global Marine Hatch Covered Market Valuation in 2022 | USD 146.8 million |
| Estimated Global Market Share in 2023 | USD 157.5 million |
| Forecasted Global Market Size by 2033 | USD 327.7 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 7.6% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 7.3% CAGR |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Increased international trade in this era of globalization is expected to benefit the shipping industry, resulting in favorable growth in the marine hatch cover market during the forecast period.
The global expansion of the shipbuilding industry may also aid in the growth of the marine hatch cover business. The marine hatch cover market is also aided by the development of fishing activities and marine tourism, as large fishing boats and cruise ships are constructed for these purposes.
| Category | By Vessel Type |
|---|---|
| Top Segment | Marine Hatch Covers for Ferries |
| Market Share in Percentage | 14.3% |
| Category | By Material Used |
|---|---|
| Top Segment | Steel Marine Hatch Covers |
| Market Share in Percentage | 30.1% |
However, the shipbuilding and shipping industries rely heavily on the global economy, and a downturn may hold back the market for marine hatch cover over the forecast timeframe.
Furthermore, laws regulating the accumulation of harmful gases transmitted by marine vessels, such as CO2, SOx, and NOx, in various nations may impede the growth of the shipbuilding industry, limiting the market for marine hatch covers over the forthcoming years.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 25.7% |
| Europe | 21.7% |
Principal Consultant
Because of its developed infrastructure and technical competence in the shipbuilding industry, North America is expected to lead the global market regarding production. The marine industry is one of several high-risk industries worldwide, including North America.
Over 86 million adults in the United States engage in recreational boating, which entails using a boat for (sports) activities such as fishing, water skiing, and travel. Ships transport 90% of all commodities in North America. As a result, these aspects are anticipated to increase the market opportunity for marine hatch covers in North America. North America accounts for 25.7% of the global market for marine hatch covers.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 20.4% |
| Germany | 12.8% |
| Japan | 8.9% |
| Australia | 3.4% |
The European marine industry is an evolving and competitive sector, both within the EU and globally. It is substantial from both an economic and social standpoint. Shipbuilding employs many individuals in Europe and provides a diverse range of technologies.
The EU encourages trade and investment and explores competitive strategy concerns. The European Commission constantly monitors the sector (see, for example, LeaderSHIP 2020 (1 MB)). Action is being taken in collaboration with stakeholders to create competitive advantages and encourage industry advancement.
As a result, these factors are expected to increase the market opportunity for marine hatch covers in Europe. Europe records 21.7% of the global market for marine hatch covers.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 6.4% |
| China | 6.8% |
| India | 7.4% |
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
How are key players opening Frontiers for Future Growth?
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interests of potential buyers and create a larger customer base.
For Instance,
Leading Players in the Marine Hatch Covers Market
Some leading marine hatch covers manufacturers include Cargotec Corporation, IKNOW MACHINERY CO., LTD., Baier Hatch Company, Inc., COOPS & NIEBORG BV, Chongqing Guanheng Technology Development Co., Macor Marine Solutions GmbH and Co. KG and TTS Group ASA.
These key marine hatch cover providers are adopting new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc., to increase their sales and gain a competitive edge in the global marine hatch covers market.
For Instance,
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.6% from 2023 to 2033 |
| Market Value in 2023 | USD 157.5 million |
| Market Value in 2033 | USD 327.7 million |
| Base Year for Estimates | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Vessel, By Type, By Material Used, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia and the Pacific; The Middle East and Africa (MEA) |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Thailand, Singapore, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Cargotec Corporation; INKOW Machinery Co. Ltd.; Baier Hatch Company Inc.; COOPS & NIEBORG BV; Chongqing Guanheng Technology ; Development Co.; Macor Marine Solutions GmbH and Co. KG; TTS Group ASA; Mariner SE; OUCO; Anchor & Chain |
| Report Customization & Pricing | Available upon Request |
The economic and social significance helps in the evolving Europe’s marine industry.
North America’s market witnessed high growth.
Marine hatch covers for ferries raise the market demand.
From 2018 to 2022, the global market exhibited a 7.3% CAGR.
Steel marine hatch covers are the most significant material used in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vessel 5.1. For Service Vessels 5.2. For Passenger Vessels 5.3. For Cruise Ships 5.4. For Ferries 5.5. For Cargo Carriers 5.6. For Tankers 5.7. For Container Ships 5.8. For Bulk Carriers 5.9. For Other Cargo Ships 5.10. For Fishing Vessels 5.11. For Personal Watercraft & Sailboats 5.12. For Other Vessels 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 6.1. Sliding Type Marine Hatch Covers 6.2. Rolling Type Marine Hatch Covers 6.3. Roll Stowing Type Marine Hatch Covers 6.4. Lifting Type Marine Hatch Covers 6.5. Folding Type Marine Hatch Covers 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Used 7.1. Aluminium Marine Hatch Covers 7.2. Steel Marine Hatch Covers 7.3. Other Materials-based Marine Hatch Covers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Cargotec Corporation 18.2. INKOW Machinery Co. Ltd. 18.3. Baier Hatch Company Inc. 18.4. COOPS & NIEBORG BV 18.5. Chongqing Guanheng Technology Development Co. 18.6. Macor Marine Solutions GmbH and Co. KG 18.7. TTS Group ASA 18.8. Mariner SE 18.9. OUCO 18.10. Anchor & Chain 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Industrial Automation Insights
View Reports
Marine Hatch Covers Market
