Global Marine Interiors Market Report, by Product (Ceilings & Wall Panels, Lighting, Galleys & Pantries, Furniture and others), Application (Passenger Area, Public Area, Crew Area and Utility Area), Ship Type (Commercial and Defense) and Region - Forecast till 2030

Market Scenario

Global Marine Interiors Market is projected to reach USD 4.65 Billion and register a CAGR of 11.2% from 2020 to 2030. With the increasing demand for cruise ships, yachts, and ferries, the demand for advanced marine interiors has been increasing from the last few years. Moreover, the design development of lightweight and easy to install marine interior products such as ceilings & wall panels and galleys & pantries and furniture is driving the growth of the market.

Market Synopsis

The global marine interiors market has witnessed high growth in recent years owing to rise in the seaborne trade and growing maritime tourism industry. Moreover, the development in the refurbishment market is driving the growth of the marine interiors market. However, high downtime in retrofitting ships is expected to restrain the market growth to some extent.

Market USP

An increase in the demand for passenger ships with advanced interiors

Market Drivers

• Increase in Seaborne Trade: Maritime transport is considered the backbone of global trade and economy; shipping carried more than 85% of the world’s goods, by volume, in 2018. Seaborne trade continues to expand, bringing benefits to consumers across the world through competitive freight costs. This is also expected to drive the growth of the global marine interiors market during the forecast period.

• Growing Maritime Tourism Industry

• Growth in Refurbishment Market

Market Opportunities

• Adoption of Additive Manufacturing to Produce Marine Interiors

Segmentation

By Product

• Ceilings & Wall Panels: The ceilings & wall panels segment accounted for the largest market share in 2019. The increasing use of wall and ceiling panels made of the non-asbestos mineral board for building ship interiors is driving the growth of this segment.

• Lighting: The segment is expected to register the highest CAGR during the forecast period. The increasing use of lighting systems to improve the ambience in cruises ships and yachts is driving the growth of this segment.

• Galleys & Pantries: The segment is expected to exhibit a higher CAGR during the forecast period. The growth of this segment is driving significantly with the increase in demand for cruise ships, yachts, and cargo ships.

By Ship Type

• Commercial: The segment dominated the marine interiors market in 2019. The commercial segment includes cargo vessels such as container vessels, bulk carriers, tankers, and general cargo ships; passenger vessels such as yachts, cruise ships, and ferries; and other vessels such as fishing vessels, tugs and workboats, dredgers, research vessels, and submarines. Moreover, due to factors such as an increase in seaborne trade and rising maritime tourism industry, the demand for advanced marine interiors for commercial applications is expected to increase during the forecast period.

• Defense: The segment is expected to register a higher growth rate during the forecast period. The defense segment includes destroyers, corvettes, frigates, offshore support vessels, aircraft carriers, and submarines. Increasing military spending on the development of new and advanced combat vessels is expected to increase the demand for advanced marine interiors.

By Region

• North America: The increasing adoption of high-performance naval vessels by the US Navy for tactical missions is expected to drive the growth of the market during the review period. Moreover, an increase in demand for new and advanced cruise ships and yachts is driving the growth of the market in North America.

• Europe: Europe is the largest market for marine interiors. This trend is projected to continue during the forecast period due to the presence of major marine interior manufacturers such as Bolidt Systems, Mivan Marine Ltd, NORAC AS, and Trimline Ltd.

• Asia-Pacific: Asia-Pacific is expected to register the highest CAGR during the forecast period. Increasing defense expenditure in India and China and the rising demand for new and advanced naval vessels are driving the regional market growth.

• Middle East & Africa: The increase in defense expenditure in Saudi Arabia, the UAE, and Israel is driving market growth in the Middle East & Africa. Moreover, the growing maritime tourism industry in the Middle East & Africa is driving market growth.

• Latin America: In Latin America, the increase in naval expenditure in Brazil for the procurement of advanced naval vessels is driving the growth of the market.

Key Players

• ALMACO Group (Finland)


• Aros Marine (Lithuania)


• Bolidt Systems (Netherlands)


• Forbo Flooring Systems (Netherlands)


• Kaefer GmbH (Germany)


• Marine Interiors Spa (Italy)


• Mivan Marine Ltd (UK)


• NORAC AS (Norway)


• R&M Group (Germany)


• Trimline Ltd (UK)

Other Prominent Players

• Elation Lighting Inc. (US)


• Oy Lautex AB (Finland)


• Oy NIT Naval Interior Team Ltd (Finland)


• Precetti Inc. (US)


• Raymond Langton Design (UK)


• Tillberg Design AB (Sweden)