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Marine Winches Market Size, Share & Growth | Forecast 2031
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Marine Winches Market Size, Share & Growth | Forecast 2031

Segments - Global Marine Winches Market by Types (Electric Winches, Hydraulic Winches, Manual Winches, and Others), Applications (Marine Engineering, Hoisting Freight, and Fishing), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Rucha Phatak

Upcoming | Report ID :CM-109 | 4.2 Rating | 84 Reviews | 156 Pages | Format : PDF Excel PPT

Report Description


Marine Winches Market Outlook 2031:

The global marine winches market size was valued at USD 1.89 Billion in 2022 and is projected to reach USD 2.74 Billion by 2031, expanding at a CAGR of 4.2% during the forecast period 2023 - 2031. Marine winches are mechanical devices that assists in pulling and lifting equipment used on docks/shores, boats/ships, ports, and offshore platforms.

These winches have wire rope/chain for pulling or lifting operations. The number of marine winches used in a vessel depends on the type of requirement and operation. Marine winches, mainly consists of drum, chain, cable, power system, manual band brake, control system, manual clutch, and gypsy wheel. High quality welding material is used in marine winches for a long life and safety purposes.

Marine Winches Market Outlook

Marine Winches Market Dynamics

The evolution in the marine industry has led to the high acceptance of equipment such as marine winches, which are used in boats and ships for handling halyards, sheets, and anchor or mooring lines. Various types of marine winches include electric, hydraulic, and manual. Moreover, growing demand for marine fleet in coastal and inland waterways fuel the demand for marine winches.

Additionally, increasing demand for transport and supply-side factors such as newer, smarter, and more efficient equipment, technologies, and training are playing a significant role the market.

Increase in the demand for marine equipment is fueling the demand for marine winches. Moreover, availability of other types of alternatives is expected to limit the demand for marine winches. Hence, this is anticipated to drive the demand for marine winches. Moreover, spreading network of e-commerce websites at international locations is expected to boost the global marine winches market.

Manufacturers of are coming up with advanced variations of marine winches. Moreover, advancements in processes of mining, oil & gas transportation, marine operations, and others are increasing the demand for marine winches worldwide. This, in turn, is expected to fuel the marine winches market. Furthermore, rapid growth in urbanization and industrialization result in the development of advanced supply chain, which increases the demand for marine winches.

Though marine winches are used for effective work performance; however, their adoption is limited in many areas, mainly due to the lack of technology and developments in under-developed countries. Lack of advancements in industries hampers their adoption of latest technologies. Serious injury and property damage is a concern for not using marine winches. These injuries can happen due to improper handling, untrained, or inexperienced operator and improper lubrication.

Marine Winches Market Segmental Insights

On the basis of types, the marine winches market is segmented as electric winches, hydraulic winches, manual winches, and others. The electric winches segment is projected to expand at a substantial CAGR during the forecast period.

Rising popularity of electric winches over other types of winches due to the increasing ease usage of these winches and less human effort requirements is estimated to boost the segment growth. Moreover, electric winches are relatively convenient and cost-effective compared to the hydraulic ones, and hence they are highly preferred across the globe.

Marine Winches Market Types

Based on applications, the marine winches market is divided into marine engineering, hoisting freight, and fishing. The marine engineering segment is expected to grow considerably during the forecast period.

Rise in marine operations in multiple areas is expected to be one of the key factors fueling the market. Increasing marine operations by industries such as transportation, oil & gas, material processing, defense, and other areas such as personal use boats are boosting the demand for marine winches across considered applications.

Marine Winches Market Application

Regional Outlook

In terms of regions, the market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is expected to expand at a considerable growth during the forecast period.

The region is the second largest market, in terms of revenue generation, from the marine winches. The region dominates the global market due to the dense presence of top marine winches manufacturers across Europe.

Marine Winches Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth analysis of the global marine winches market
  • Historical, current and projected market size in terms of value and volume (Thousand Units)
  • Potential & niche segments and regions exhibiting promising growth covered
  • Industry drivers, restraints and opportunities covered in the study
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Neutral perspective on global marine winches market performance

Segments

By Type

  • Electric Winches
  • Hydraulic Winches
  • Manual Winches
  • Others

By Application

  • Marine Engineering
  • Hoisting Freight
  • Fishing

By Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Spain
    • Russia
    • Rest of the Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of MEA

Key Market Players Profiled in the Report

Competitive Landscape

  • Key players in the market include MacGregor, Rolls-Royce, Ingersoll Rand, Fukushima Ltd, and TTS. These companies are considered as key manufacturers of marine winches based on their revenue, regional presence, research & development (R&D) activities, and supply chain management system.
  • The players are adopting key strategies such as acquisition, merger, and geographical expansion to strengthen their market position. For instance, in July 2019, MacGregor announced that it acquired the offshore and marine businesses of TTS Group ASA. The acquired businesses is expected to be integrated within MacGregor's operating structure.
  • In April 2019, Ingersoll Rand announced that it would spin off its industrial business and merge it with compressors & industrial pump producer Gardner Denver Holdings Inc. This strategy is expected to allow Ingersoll to focus on its high-margin business that possesses Trane and Thermo King Brand of heating, air conditioning, and transport refrigeration systems.
  • In July 2018, Rolls-Royce signed an agreement to sell its commercial marine business to KONGSBERG. KONGSBERG delivers high technology solutions and systems to the oil & gas, defense, aerospace, and merchant marine industries.
  • In February 2018, MacGregor announced that it acquired Rapp Marine Group (RMG) to strengthen its product portfolio for the research vessel and fishery segment. RMG consists of around 120 people with main locations in the US, Norway, and the UK. This acquisition is completed for an enterprise value of approximately EUR 16 million.

Marine Winches Market Key Players

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Winches Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Marine Winches Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Marine Winches Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Marine Winches Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Marine Winches Market Size & Forecast, 2017-2027
      4.5.1 Marine Winches Market Size and Y-o-Y Growth
      4.5.2 Marine Winches Market Absolute $ Opportunity
Chapter 5 Global Marine Winches Market Analysis and Forecast By Types
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Types
      5.1.2 Basis Point Share (BPS) Analysis By Types
      5.1.3 Absolute $ Opportunity Assessment By Types
   5.2 Marine Winches Market Size Forecast By Types
      5.2.1 Electric Winches
      5.2.2 Hydraulic Winches
      5.2.3 Manual Winches
      5.2.4 Others
   5.3 Market Attractiveness Analysis By Types
Chapter 6 Global Marine Winches Market Analysis and Forecast By Applications
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Applications
      6.1.2 Basis Point Share (BPS) Analysis By Applications
      6.1.3 Absolute $ Opportunity Assessment By Applications
   6.2 Marine Winches Market Size Forecast By Applications
      6.2.1 Marine Engineering
      6.2.2 Hoisting Freight
      6.2.3 Fishing
   6.3 Market Attractiveness Analysis By Applications
Chapter 7 Global Marine Winches Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Marine Winches Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Marine Winches Analysis and Forecast
   9.1 Introduction
   9.2 North America Marine Winches Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Marine Winches Market Size Forecast By Types
      9.6.1 Electric Winches
      9.6.2 Hydraulic Winches
      9.6.3 Manual Winches
      9.6.4 Others
   9.7 Basis Point Share (BPS) Analysis By Types
   9.8 Absolute $ Opportunity Assessment By Types
   9.9 Market Attractiveness Analysis By Types
   9.10 North America Marine Winches Market Size Forecast By Applications
      9.10.1 Marine Engineering
      9.10.2 Hoisting Freight
      9.10.3 Fishing
   9.11 Basis Point Share (BPS) Analysis By Applications
   9.12 Absolute $ Opportunity Assessment By Applications
   9.13 Market Attractiveness Analysis By Applications
Chapter 10 Europe Marine Winches Analysis and Forecast
   10.1 Introduction
   10.2 Europe Marine Winches Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Marine Winches Market Size Forecast By Types
      10.6.1 Electric Winches
      10.6.2 Hydraulic Winches
      10.6.3 Manual Winches
      10.6.4 Others
   10.7 Basis Point Share (BPS) Analysis By Types
   10.8 Absolute $ Opportunity Assessment By Types
   10.9 Market Attractiveness Analysis By Types
   10.10 Europe Marine Winches Market Size Forecast By Applications
      10.10.1 Marine Engineering
      10.10.2 Hoisting Freight
      10.10.3 Fishing
   10.11 Basis Point Share (BPS) Analysis By Applications
   10.12 Absolute $ Opportunity Assessment By Applications
   10.13 Market Attractiveness Analysis By Applications
Chapter 11 Asia Pacific Marine Winches Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Marine Winches Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Marine Winches Market Size Forecast By Types
      11.6.1 Electric Winches
      11.6.2 Hydraulic Winches
      11.6.3 Manual Winches
      11.6.4 Others
   11.7 Basis Point Share (BPS) Analysis By Types
   11.8 Absolute $ Opportunity Assessment By Types
   11.9 Market Attractiveness Analysis By Types
   11.10 Asia Pacific Marine Winches Market Size Forecast By Applications
      11.10.1 Marine Engineering
      11.10.2 Hoisting Freight
      11.10.3 Fishing
   11.11 Basis Point Share (BPS) Analysis By Applications
   11.12 Absolute $ Opportunity Assessment By Applications
   11.13 Market Attractiveness Analysis By Applications
Chapter 12 Latin America Marine Winches Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Marine Winches Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Marine Winches Market Size Forecast By Types
      12.6.1 Electric Winches
      12.6.2 Hydraulic Winches
      12.6.3 Manual Winches
      12.6.4 Others
   12.7 Basis Point Share (BPS) Analysis By Types
   12.8 Absolute $ Opportunity Assessment By Types
   12.9 Market Attractiveness Analysis By Types
   12.10 Latin America Marine Winches Market Size Forecast By Applications
      12.10.1 Marine Engineering
      12.10.2 Hoisting Freight
      12.10.3 Fishing
   12.11 Basis Point Share (BPS) Analysis By Applications
   12.12 Absolute $ Opportunity Assessment By Applications
   12.13 Market Attractiveness Analysis By Applications
Chapter 13 Middle East & Africa (MEA) Marine Winches Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Marine Winches Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Marine Winches Market Size Forecast By Types
      13.6.1 Electric Winches
      13.6.2 Hydraulic Winches
      13.6.3 Manual Winches
      13.6.4 Others
   13.7 Basis Point Share (BPS) Analysis By Types
   13.8 Absolute $ Opportunity Assessment By Types
   13.9 Market Attractiveness Analysis By Types
   13.10 Middle East & Africa (MEA) Marine Winches Market Size Forecast By Applications
      13.10.1 Marine Engineering
      13.10.2 Hoisting Freight
      13.10.3 Fishing
   13.11 Basis Point Share (BPS) Analysis By Applications
   13.12 Absolute $ Opportunity Assessment By Applications
   13.13 Market Attractiveness Analysis By Applications
Chapter 14 Competition Landscape
   14.1 Marine Winches Market: Competitive Dashboard
   14.2 Global Marine Winches Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 MacGregor
      14.3.2 Rolls-Royce
      14.3.3 Ingersoll Rand
      14.3.4 TTS
      14.3.5 ACE winches
      14.3.6 Huisman Group
      14.3.7 IHC Hytop B.V.
      14.3.8 Fukushima Ltd
      14.3.9 Bell Fluidtechnics Private Limited.
      14.3.10 Rotomech Automation Ltd.

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