Marine Instrumentation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Marine Instrumentation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Report Description

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Marine technology has developed significantly over the years. It is related to marine science, technology, and instrumentation, which are also called maritime commerce. Marine instruments are essential for the study of oceanographic processes and marine sciences. Marine instrumentation is beneficial to determine the current position of marine vessels and define the direction, speed, etc. to arrive at the port or point of further decision making.

The marine instrumentation market can be segmented based on type, application, and region. In terms of types, the marine instrumentation market cab be divided into oil & gas instruments, marine sensors and systems, marine acoustic imaging, environmental instrumentation, and testing & measuring instruments. Oil & gas instruments include instruments from exploration to refinery, storage to distribution, and plant upgrade to new projects. Marine sensors & systems comprise long term observation and real time monitoring of underwater activities. Marine acoustic imaging includes a 360-degree acoustic imaging to further investigate the conditions of the underwater portion of a marine-based structure. Environmental instrumentation includes monitoring of water beneath the sea for rapid exploitation in sheltered coastal and inshore areas. Based on application, the marine instrumentation market can be divided into offshore energy & global infrastructure, aircraft information management, defense security & satellite communication, and machine learning & automation.

Identification of natural calamities such as tsunami and whirlpools is the major driver of the marine instrumentation market. Marine instrumentation is also used in developing underwater communication systems in laying subsea cables and subsea power & distribution systems. Marine instrumentation is also employed in studying seabed classification. It is used in shallow water model for the prediction of high-frequency ambient noise.

High cost of production and distribution of marine instruments is one of the restraints of the marine instrumentation market. Marine industry faces shortage of skills and tightening of regulations and complexity of offshore facilities and processes. Downtime and non-productivity time must be reduced in order to achieve economic benefits. New technological advancements and developments are emerging in order to lower marine instruments costs and prove more beneficial in reducing the downtime.

North America leads the global marine instrumentation market in terms of demand. This can be ascribed to the increase in oil & gas activities in offshore regions of the U.S. The marine instrumentation market has been expanding in countries in Asia Pacific such as India, China, and Japan due to the rise in maritime security activities, growth in offshore oil & gas production activities, and improvement in underwater communications. Demand for marine instrumentation is estimated to increase in countries in Europe such as the U.K., Germany, France, and Norway due to the growth in the oil & gas drilling activities in the North Sea, improvement of maritime security, and rise in protection of coastal borders. Countries in Latin America such as Brazil and Mexico are anticipated to witness an increase in demand for marine instrumentation activities due to rapid urbanization and rise in offshore oil & gas activities in the Gulf of Mexico. Demand for marine instrumentation in countries in Middle East & Africa is also likely to rise due to the increase in number of offshore oil & gas exploration and production activities and strengthening maritime boundaries.

Key players operating in the high carbon steel market are Teledyne, Sontek, Kongsberg Maritime, Metromac, and Voyage Marine.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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