DUBLIN, September 11, 2017
DUBLIN, September 11, 2017 /PRNewswire/ --
The "Global Marine Firefighting Equipment Market 2017-2021" report has been added to Research and Markets' offering.
The global marine firefighting equipment market to grow at a CAGR of 2.31% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global marine firefighting equipment market for 2017-2021. To calculate the market size, the report considers the demand for firefighting equipment from the marine industry. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is restructuring of China's economy. China is the world's second-largest economy. The country is trying to restructure its economy, which is showing slow growth in recent years. The country's economic growth depends on the import of raw materials and export of finished goods. The trend in China's reform process has been initiated, which is changing the significant source for dry bulk demand and impacting the container and wet bulk sectors.
According to the report, one driver in the market is growing international market for OPVs. Maritime security operations include the action undertaken by modern naval forces to battle illegal activities like piracy, slavery, and hijacking. These ships and vessels are engaged in offshore patrolling to combat sea-based terrorism. Currently, many countries are re-directing their defense strategies due to uncertainties in some regions like the Middle East and APAC. This will impact the market positively, as an increase in the demand for naval vessels will integrate safety aspects like marine firefighting equipment.
Further, the report states that one challenge in the market is slowdown in South Korea's shipbuilding industry. The South Korean shipbuilding industry is witnessing a slowdown due to the plunge in global energy prices, overproduction of ships, and sluggishness in international trade. The country's three biggest shipbuilding companies, namely, Daewoo, Samsung Heavy Industries, and Hyundai Heavy Industries recorded losses in 2015 and 2016.
In South Korea, the shipbuilding industry is a major contributor to the economic development and is important to the country's international position. The slowdown in South Korea's shipbuilding market has affected international trade and will have a negative impact on the demand for marine firefighting equipment.
Other prominent vendors
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Product Type
Part 07: Geographical Segmentation
Part 08: Key Leading Countries
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Key Vendor Analysis
Part 14: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/lvftmj/global_marine
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