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Aerospace & Defense Icon

Marine Interiors Market – Trends Forecast Till 2030

Marine Interiors Market, by Ship Type (Commercial, Defense), End User (New Fit, Refit), Material (Aluminium, Steel, Joinery, Composites), Product (Ceilings & Wall Panels, Furniture, Galleys & Pantries, Lighting), Application and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

  • Published Date : June 2023
  • Base Year Estimate : 2022
  • Report ID : D-AD-MIM-1376
  • Format :
  • Number of Pages : 570
  • Domain : Aerospace & Defense
  1. Aerospace & Defense
  2. Marine Interiors Market – Trends Forecast Till 2030
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REPORT SYNOPSIS
Market Snapshot Market Overview Delvens Industry Expert's Standpoint Market Portfolio Key Findings Regional Analysis Competitive Landscape Recent Developments Reasons to Acquire Report Scope
Table Of Content Frequently Asked Questions

Market Snapshot

Market Overview

The global Marine Interiors Market size is projected to reach a CAGR of 11.9% from 2023-2030.

The marine interior market is related to designing, refitting, and delivery of internal solutions for commercial and defense ships.

In recent years, owing to the rise in urbanization and standard of living, the demand for luxury cruise ships, yachts, and ferries is on the rise. This has led to rising demand for advanced marine interiors, which are lightweight and easy to install. Aluminium, composites, steel, and others are mainly used in making interiors of ships, owing to their capability to handle harsh environmental conditions such as humidity and moisture content. However, composite materials used are preferred since they material is light in weight and can be given complex shapes. The maritime tourism industry is the largest user of marine interiors and one of the major industries that drive the growth of the market. Moreover, development in aftermarket refurbishment of ship interiors also supports the growth of the market.

On the other hand, the long material lead times, limited availability, and high raw material costs can result in delayed ship delivery or order cancellation. This factor directly restricts the growth of the marine interior market.

The COVID-19 pandemic has changed the multiple scenarios of maritime industries and ship OEMs around the world. The COVID-19 outbreak resulted in months of production backlog due to the severe global shutdown. The shipbuilders have been highly affected since their shipyards have been temporarily closed during lockdowns in emerging nations. The limited availability of labour workers amid the pandemic has also affected interior component production. In addition, several shipbuilders have failed to generate large revenue, which restricts their investment in new-fit. Furthermore, the delayed or cancelled refurbishment orders and new ship orders due to decreased passenger traffic have affected the marine interiors market growth during the COVID-19 pandemic.

Delvens Industry Expert's Standpoint

The cruise industry is expanding rapidly, with more people choosing to take cruise vacations each year. This has led to an increase in demand for marine interiors that are comfortable, stylish, and functional. The innovations in developing new materials and manufacturing techniques that are better suited to the harsh marine environment are significant in the marine industry. Further, as incomes rise around the world, more people are able to afford luxury goods and experiences, including high-end cruise vacations. This would drive the demand for the market premium marine interiors in the next years.

Market Portfolio

Key Findings

  • The ship type segment is further fragmented into Commercial and Defense. The commercial segment of the marine interior market is projected to grow at the highest CAGR during the forecast period. The demand for interiors is majorly dependent on the cruise ship, and yachts’ new order books and drydock schedule. The demand for interiors is fully dependent on the cruise ship order book. The demand for marine interiors is not only limited to the newbuild ship order book but also is dependent on drydock refurbishment, where cruise ships undergo partial or complete upgradation of interiors every two-three-year.
  • The material segment is further fragmented into Aluminium, Steel, Composites, Joinery, and Others. The composites segment is expected to grow at the highest rate and is anticipated to maintain its dominance during the forecast period. Composites offer considerable potential in weight saving and in developing complex shapes. Thus, they are used in manufacturing superstructures. Combined with their non-corroding finish and sheer versatility, composites appear to be natural materials for use in shipbuilding.
  • The end-user segment is further fragmented into New Fit and Refit. The refit segment is expected to grow at a higher rate and is anticipated to maintain its dominance during the forecast period. Various cruise lines are coming up with refurbishment programs to upgrade the interior of their ships and reduce high capital expenditure.
     
  • The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Europe is estimated to account for the largest share of the marine interior market and is anticipated to maintain its dominance during the forecast period. The large share of this market can be attributed due to the presence of the leading manufacturers of marine interior providers such as Hella (Germany), Osram (Germany), Lumishore (UK), and Foresti & Saurdi (Italy) in this region. Countries such as Norway and Greece have a large number of passengers as well as commercial ships.

Regional Analysis

Europe to Dominate the Market

  • Europe is estimated to account for the largest share of the marine interior market and is anticipated to maintain its dominance during the forecast period.
     
  • The large share of this market can be attributed due to the presence of the leading manufacturers of marine interior providers such as Hella (Germany), Osram (Germany), Lumishore (UK), and Foresti & Saurdi (Italy) in this region. Countries such as Norway and Greece have a large number of passenger as well as commercial ships.

Competitive Landscape

  • R&M Group
  • Almaco
  • Trimline
  • Kaefer
  • Bourne Group
  • Marine Interiors
  • Mivan Marine
  • Bolidt
  • Forbo Flooring Systems
  • Naval Interior Team