CNG, RNG, And Hydrogen Tanks Global Market Report 2023 – By Gas Type (Compressed Natural Gas (CNG), Hydrogen, Renewable Natural Gas (RNG)), By Material Type (Metal, Carbon Fiber, Glass Fiber), By Tank Type (Type 1, Type 2, Type 3, Type 4), By Application (Fuel Tank, Transportation Tank) – Market Size, Trends, And Global Forecast 2023-2032

A shipping container refers to Strong metal boxes are used to move items from one location to another; they are typically built of steel and designed to be durable enough to handle lengthy shipments. They range in size from ubiquitous corrugated boxes to large steel boxes used for intermodal shipments. The shipping containers market covered in the report is segmented by product type into dry storage containers, flat rack containers, refrigerated containers, special-purpose containers, open top containers, double door containers, and others; by container size into a small container, large containers, high cube container; by end-use into food and beverages, consumer goods, healthcare, industrial products, vehicle transport, others. The global shipping containers market is segmented - 1) By Product Type: Dry Storage Container, Flat Rack Container, Refrigerated Container, Special-Purpose Container, Open Top Container, Double Door Container, Other Product Types 2) By Container Size: Small Container, Large Container, High Cube Container 3) By End Use: Food And Beverages, Consumer Goods, Healthcare, Industrial Products, Vehicle Transport, Other End-Uses The global shipping containers market size will grow from $10.24 billion in 2022 to $11.18 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global shipping containers is expected to grow to $15.88 billion in 2027 at a CAGR of 9.2%. An increase in demand for cargo transportation through ships contributed to the growth of the shipping container market. The demand for the transportation of cargo through waterways is growing owing to factors such as cost-efficiency and a more secure way of moving goods as compared to other means of transportation. For instance, in September 2022, according to Eurostat, a Luxembourg-based statistical agency of the European Union, the volume of European road freight increased by 6.5% between 2020 and 2021, primarily due to significant growth in all types of operations. Furthermore, according to the International Air Transport Association in July 2021, air cargo rates were 2.79$/kg, or 55.9% higher in 2020 than in 2019 globally due to supply chain disruption. Moreover, ships can carry more cargo from one place to another within a short period. This in turn is projected to boost the growth of the shipping containers market. Major players in the shipping containers market are Hoover Container Solutions, CXIC Group, Shanghai Universal Logistics Equipment, Maersk Container Industry, Charleston Marine Containers, Hoover Container Solutions, CIMC, Sea Box, TLS Offshore Containers International Pvt Ltd., and China International Marine Containers Co. Ltd. The high costs associated with shipping containers are expected to restrain the growth of the shipping container market. The price of shipping containers depends on their size and condition. The bigger the container, the higher the price. And, the newer the unit, the more expensive it could be. For instance, in the USA, the average cost for a used container is around $2,000. The larger 40’ unit that could be altered for houses ranges from $3,000 to $4,000 for the used one and is approximately $6,000 for a brand-new unit. Moreover, there are other costs such as shipping container home plans, and foundation costs involved which make them less affordable for purchase. Thus, the high costs of shipping containers are projected to limit the growth of the shipping container market over the forecast period. In April 2021, Arcus Infrastructure Partners, LLP, a UK-based company, acquired Gem Containers Limited for an undisclosed amount. With this acquisition, Arcus broadens its container product portfolio, expands its customer base, and expands its product reach into Europe. Gem Containers Limited is a UK-based metal company pioneering in the manufacturing and distribution of tank containers. Asia-Pacific was the largest region in the shipping containers market in 2022. The regions covered in the shipping containers market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the shipping containers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The shipping container market consists of sales of tunnel containers, open-side storage containers, general-purpose containers, insulated containers, half-height containers, and swap body containers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The shipping containers market research report is one of a series of new reports from The Business Research Company that provides shipping containers market statistics, including shipping containers industry global market size, regional shares, competitors with a shipping containers market share, detailed shipping containers market segments, market trends and opportunities, and any further data you may need to thrive in the shipping containers industry. This shipping container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Boilers, tanks, and shipping containers refer to a type of container made of metal by using a method of manufacturing that includes cutting, forming, and joining metal parts to produce tanks that are used for storage and transportation of goods from one place to another, the processing of liquid material, and the storage of hazardous liquids. The main types of boilers, tanks and shipping containers are power boiler and heat exchanger, metal tank (heavy gauge), metal can, box, and other metal container (light gauge). The power boiler and heat exchanger are used by the powerplants to boil the water into steam. The different product types include refrigerated containers, dry storage containers, special-purpose containers, flat rack containers, and other product types. They are available in different sizes such as small containers, large containers, and high cube containers and are used in residential, commercial, and other applications. The global boiler, tank, and shipping container market is segmented - 1) By Type: Power Boiler and Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, and Other Metal Container (Light Gauge) 2) By Product Type: Refrigirated Container, Dry Storage Container, Special Purpose Container, Flat Rack Container, Other Product Types 3) By Container Size: Small Containers, Large Containers, High Cube Container 4) By Application: Residential, Commercial, Other Applications The global boiler, tank, and shipping container market size grew from $220.3 billion in 2022 to $238.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global boiler, tank, and shipping container is expected to grow to $313.93 billion in 2027 at a CAGR of 7.2%. Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in boiler, tank, and shipping container manufacturing thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins. For instance, according to the Compass, the internet traffic is projected to three times from earlier in 2022 and the share of IoT devices is expected to rise 28% by 2025., thus driving the growth of the boiler, tank, and shipping container manufacturing market in the forecast period. Major companies in the boiler, tank and shipping container market include Ball Corporation, China International Marine Containers (Group) Ltd., General Electric Company, Alfa Laval AB, Ardagh Group S.A, Doosan Heavy Industries & Construction Co. Ltd., Pacific International Lines (Private) Limited, BWX Technologies Inc., CIMC Enric Holdings Limited, and A.P. Møller-Mærsk A/S. Many metal and mineral manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reducing potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating a rise in automation and robotics technology adoption to improve productivity and reduce production costs. According to the KPMG report, 16% of executives of global metals companies have already invested in robotics for metal manufacturing, 31% of executives have set plans to possibly invest in robotics for new technology and opportunities, and 42% are willing to invest in robotics shortly. Additionally, the report states, 63% of the executives of metal manufacturing companies are considering investing in automation. Asia-Pacific was the largest region in the boiler, tank, and shipping container market share in 2022. Western Europe was the second largest region in the boiler, tank, and shipping container market. The regions covered in the global boiler, tank, and global shipping container market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the boiler, tank, and shipping container market include Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, Vietnam. The boilers, tanks and shipping containers market consists of sales of dry storage container, open top tanks, and half height containers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The boiler, tank, and shipping container market research report is one of a series of new reports from The Business Research Company that provides boiler, tank, and shipping container market statistics, including boiler, tank, and shipping container industry global market size, regional shares, competitors with a boiler, tank, and shipping container market share, detailed boiler, tank, and shipping container market segments, market trends and opportunities, and any further data you may need to thrive in the boiler, tank, and shipping container industry. This boiler, tank, and shipping container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

ISO tank container refers to a class of tank containers that comply with guidelines defined by the International Organization of Standardization (ISO), are used to transport and store liquids, powders, and gases, are suitable for different modes of transportation, and can transport both hazardous and non-hazardous products. The main types of containers in ISO tank containers are dry container, thermal and refrigerated container, tank container, open-top container, insulated container, flat rack container, and others. Thermal and refrigerated containers are temperature-controlled transportation containers that maintain a constant low temperature. They are only used to transport perishable goods such as fruits and vegetables over vast distances. The different modes of transportation include road, rail, marine and are used to transport chemicals, petrochemicals, food and beverage, pharmaceuticals, industrial gas, others. The global iso tank container market is segmented – 1) By Container Type: Dry Container, Thermal and Refrigerated Container, Tank Container, Open Top Container, Insulated Container, Flat Rack Container, Other Container Types 2) By Transport Mode: Road, Rail, Marine 3) By Application: Chemicals, Petrochemicals, Food And Beverage, Pharmaceuticals, Industrial Gas, Other Applications The global ISO tank container market size will grow from $1.14 billion in 2022 to $1.28 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global ISO tank container is expected to grow to $1.88 billion in 2027 at a CAGR of 10.1%. The growing petrochemical industry is expected to propel the growth of the ISO tank containers market in the forecast period. The ISO tank containers are used for transporting hazardous petrochemicals as they are made up of stainless steel and are surrounded by various types of protective layers that provide resistance to the corrosive effects of the petrochemicals. For instance, according to the TBRC report, the global petrochemicals market size is expected to grow from $365.01 billion in 2020 to $429.11 billion in 2021 at a compound annual growth rate (CAGR) of 17.6%. Additionally, according to the International Energy Agency, petrochemicals are expected to account for about 50% of the growth in global oil demand between 2030 and 2050, contributing nearly 7 million barrels of oil. The ISO tank containers leave almost less than 50% of the carbon footprint and hence they are majorly used to ship chemicals by petrochemical industries. Therefore, the growth of the petrochemical industry drives the growth of the ISO tank containers market. Major players in the ISO tank container market are China International Marine Containers Co. Ltd., Nantong Tank Container CO. Ltd., CXIC Group Containers Company Limited, Singamas Container, WelfitOddy, Danteco Industries BV, Bewellcn Shanghai, Chart Industries Inc., Corban Energy Group, Cryeng Group, Furuise, Intermodal Tank Transport., M1 Engineering, Quantum Technologies Group Inc., and Rootselaar Group. Usage of the internet of things (IoT) for remote monitoring of ISO tank containers is shaping the ISO tank container market. The Internet of Things (IoT) is a system of internet-connected objects that can collect and transfer data over a wireless network without human intervention. Many companies operating in the ISO tank container sector are increasingly partnering with companies offering IoT software. For instance, in July 2021, Arkema, a France-based chemicals company collaborated with Nexxiot a Swiss company offering digital logistics solutions. This collaboration seeks to digitize Arkema's ISO tank (tank container) and rail freight wagon fleets, utilizing Nexxiot's IoT devices and intelligent cloud platform to help Arkema clients achieve end-to-end visibility, increase quality standards, and improve the overall service experience. In April 2021, Arcus Infrastructure Partners, LLP, a UK-based company, acquired Gem Containers Limited for an undisclosed amount. With this acquisition, Arcus broadens its container product portfolio, expands its customer base, and expands its product reach into Europe. Gem Containers Limited is a UK-based metal company pioneering in the manufacturing and distribution of tank containers. Europe was the largest region in the ISO tank container market in 2022. North America was the second-largest region in the ISO tank container market share. The regions covered in the ISO tank container market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ISO tank container market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The ISO tank containers market consists of sales of rubber-lined ISO tank container, acid-based chemicals tank, food-grade tank, and stainless-steel containers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The ISO tank container market research report is one of a series of new reports from The Business Research Company that provides ISO tank container market statistics, including ISO tank container industry global market size, regional shares, competitors with a ISO tank container market share, detailed ISO tank container market segments, market trends and opportunities, and any further data you may need to thrive in the ISO tank container industry. This ISO tank container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Tank wagon refers to a type of railroad car or rolling stock that is used as a tanker designed to transport liquid and gaseous commodities such as hazardous chemicals, oil and gas, crude petroleum oil, and other liquid commodities from fuel stations to rail stations on the rail transport system and on the road transport system to improve safety and reduce the chance of leakage of hazardous liquids. The main types of tank waggons covered in this report are pressurised railroad tank cars and general-purpose or non-pressurized tank cars. The pressurised railroad tank car was designed to carry chemicals and petroleum products efficiently and safely. It is also segmented by protection type into insulated and non-insulated and by application into crude oil, ethanol, liquefied gases, biofuels, milk, chemicals, and others. The global tank wagons market is segmented - 1) By Tank Pressure Type: Pressurized Railraod tank car, General Purpose or Non-Pressurized tank car 2) By Protection Type: Insulated, Non-insulated 3) By Application: Crude Oil, Ethanol, Liquefied Gases, Bio Fuels, Milk, Chemicals, Other Applications The global tank wagon market size will grow from $67.44 billion in 2022 to $70.56 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global tank wagon is expected to grow to $82.63 billion in 2027 at a CAGR of 4.0%. Increased demand for liquids and gases as a raw material in the residential and petrochemical sectors that use railways as one of the modes of transportation is contributing to the growth of the tank waggon market. This upswing in need is due to the lockdown and ban on travelling which have happened worldwide. For instance, according to the Facts Global Energy (FGE) data, India is expected to buy 15.8 million tonnes of LPG from abroad in the 2020 year, which is 9% more than in 2019. Furthermore, FGE has also estimated that the Asia-Pacific region will buy 67–69.5 million tonnes of gas from abroad in 2020, which will be 1–3% more than in 2019. An increase in the need for PPE kits and cooking at home is causing a rise in demand for liquid and gas, which is fulfilled with the help of tank waggons to carry tonnes of these materials, thus driving the tank waggon market growth. Major players in the tank wagons market are American Railcar Industries Inc., GATX, National Steel Car, The Greenbrier Companies, Trinity Industries Inc., Vertex Railcar, Union tank car company, American-Rails, Chongqing ChagnZheng Heavy Industry, TrinityRail Products, Caterpillar, Japan Oil Transportation., Kelso Technologies Inc., OmBesco Limited, Procor Limited, and VTG Aktiengesellschaft. The increased rate of accidents due to the high speed of railways is expected to limit the growth of the tank waggon market. These high accident rates can hamper the service provided by the rail tank waggons and also result in a loss of economy and fuel. For instance, in June 2020, in Andhra Pradesh, a state in India, tank waggons carrying oil got derailed due to high speed and caught fire, which caused a huge combustion of the oil. In February 2020, in Canada, a train with 19 waggons carrying dangerous goods got derailed due to high speed, causing an explosive fire. This led to the imposition of trains carrying hazardous goods. Thus, a rise in accidents is hampering the revenues generated for the tank waggon market. The launch of the internet of things (IoT) to fast-track the safety and compliance of rail tanks has created immense demand in the tank waggon market. The Internet of Things (IoT) empowers rail administrators to use internet-connected communication devices installed across infrastructure and rolling stock to increase safety. Moreover, there are many apps, such as the safety lock app, terminal automation app, and anti-roll-away apps, rolled out by TCS to digitalize the tank wagons. In November 2022, Heniff Transportation Systems, LLC., a US-based liquid chemical and food transportation company, acquired Coal City Cob Company, Inc. for an undisclosed amount. Through this acquisition, Heniff is able to maintain its industry-leading growth in the chemical sector of the tank truck market. In addition to a sizable rail-to-truck bulk transfer yard and tank wash facility at its headquarters in Waxahachie, Texas, Coal City Cob ("CCC") operates with more than 230 drivers and 500 trailers across its countrywide network of terminals. With a focus on maximizing customer, employee, and driver satisfaction, the current Heniff and CCC teams will collaborate closely to ensure a prompt and effective integration between the two networks. Coal City Cob Company, Inc. is a US-based company pioneering in the transportation of liquid and hazardous chemicals for various chemical and pharmaceutical companies. Asia-Pacific was the largest region in the tank wagons market in 2022. North America was the second largest region in the global tank wagons market share. The regions covered in the global tank wagons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the tank wagons market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The tank wagon market consists of sales of corrosive liquid tanks, highly flammable product tanks, and gasoline tanks. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The tank waggons market research report is one of a series of new reports from The Business Research Company that provides tank waggons market statistics, including tank waggons industry global market size, regional shares, competitors with a tank waggons market share, detailed tank waggons market segments, market trends and opportunities, and any further data you may need to thrive in the tank waggons industry. This tank waggon market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Fiber-reinforced plastic vessels refer to containers composed of a contemporary composite material used in the building of tanks and vessels found in chemical plants, which consists of fibers embedded in a polymer matrixthat are corrosion-resistant in nature. The technical advantages of fiber-reinforced plastic include corrosion resistance, the ability to withstand hydrostatic forces, and strong tensile strength. The main types of fibre reinforced plastic vessels are glass fiber, carbon fiber, aramid fiber, and other types. Glass Fiber Reinforced Plastic is a composite material made up of a polymer matrix and glass fibres. The different types of resins used in fibre reinforced plastic vessels include polyester, epoxy, polyurethane and other resins. These vessels are distributed over various channels such as online and offline and are used in various industries such as automotive and transportation, water & wastewater, chemical, industrial, oil & gas, and other applications. The global fiber reinforced plastic vessels market is segmented - 1) By Type: Glass Fiber, Carbon Fiber, Aramid Fiber, Other Types 2) By Distribution Channel: Online, Offline 3) By Resin: Polyester, Epoxy, Polyurethane, Other Resins 4) By Application: Automotive & Transportation, Water & Wastewater, Chemical, Industrial, Oil & Gas, Other Applications The global fiber reinforced plastic vessels market size grew from $3.03 billion in 2022 to $3.33 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fiber reinforced plastic vessels market size is expected to grow to $4.82 billion in 2027 at a CAGR of 9.7%. Increasing demand for fiber-reinforced plastic vessels in the automotive industry is driving the growth of the market. In the automotive industry, FRP vessels are used for fuel storage in natural gas vehicles, and these vessels are constructed in a single piece to reduce the possibility of splitting in the event of a crash. The rapid growth in the adoption of natural gas vehicles or the conversion of existing gasoline vehicles to natural gas vehicles in developing countries to reduce pollution levels has led to increased demand for FRP vessels. For instance, in June 2021, according to an article shared by Advanced Clean Tech (ACT) News, a US-based news provider, even though 2020 was a wildly anomalous year, natural gas fuel and natural gas vehicles (NGVs) continued to expand. In California, the usage of RNG in on-road transportation went from 69% of total volume in 2018 to 93% in 2020, a more than 225% increase from 2015. RNG climbed to 98% of all natural gas utilised as a transportation fuel in California by the fourth quarter of 2020. Thus, an increase in demand for FRP vessels in the automotive industry is expected to boost the market during the forecast period. Major players in the fiber reinforced plastic vessels market are Sainath Industrial Corporation, Plas-Tank Industries Inc., JRMS Engineering Works, TROY Dualam Inc., Swami Plastic Industries, Augusta Fiberglass Coating Inc., Worthington Industries, Inc., Avanco Group, CevotecGmbh, Denali Incorporated, Enduro Composites Inc., EPP Composites Pvt. Ltd., Faber Industrie Spa, Lianyungang ZhongfuLianzhong Composites Group Co. Ltd., Nproxx, Quantum Fuel Systems LLC., and ZCL Composites, Inc. Development of low-weight transportation FRP vessels is the key trend gaining popularity in the fiber-reinforced plastic vessel market. Carbon fibre reinforced polymers and glass fibre reinforced polymers are some of the FRP used in the development of low-weight transportation materials. For example, in August 2020, Universal Hydrogen, a US-based carbon-free economical hydrogen transport company, announced the new product launch of a twin-tank module for 50-seat aircraft that uses carbon fibre-wrapped pressure vessels to store H2 gas at 850 bar, enabling a 400-nm range for a Dash 8 or ATR turboprop regional aircraft that enables easy transport and loading using existing infrastructure. In October 2022, Ipackchem Group SAS, a France-based material manufacturing company, acquired TPG Plastics LLC for an undisclosed amount. Through this acquisition, Ipackchem increases its barrier packaging product portfolio, manufacturing capabilities, and product reach in North America. TPG Plastics LLC is a US-based plastic product manufacturing company pioneering in the design and development of blow molding products. Asia-Pacific was the largest region in the fiber reinforced plastic vessels market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber reinforced plastic vessels market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the fiber reinforced plastic vessels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market for fiber-reinforced plastic vessels consists of sales of natural fiber, hemp fiber, plant-based fiber, polycarbonate, and polyamide. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The fiber-reinforced plastic vessels market research report is one of a series of new reports from The Business Research Company that provides fiber-reinforced plastic vessels market statistics, including fiber-reinforced plastic vessels industry global market size, regional shares, competitors with a fiber-reinforced plastic vessels market share, detailed fiber-reinforced plastic vessels market segments, market trends and opportunities, and any further data you may need to thrive in the fiber-reinforced plastic vessels industry. This fiber-reinforced plastic vessels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The warship and naval vessels are defense systems built to serve the war and belong to the naval forces of a country. Warships are faster, safer, and more valuable ships which are key components of the country’s naval forces and are used to carry weapons, ammunition, and essential supplies for the crew. The main warship and naval vessels are submarines, aircraft carriers, and warships. A submarine is a submersible vessel that can operate independently underwater. The operation segment consists of the surface fleet and the undersea fleet. Surface fleets are a subclass of navy vessels that are equipped with armaments and armed forces to fight on the water's surface. The end-user segment includes destroyers and frigates, depending on the force using the warships and naval vessels. Furthermore, the application segment is segmented into rescue, defense and others depending upon the operation to be performed. The global warship and naval vessels market is segmented - 1) By Type: Warships, Submarines, Aircraft Carriers 2) By Operation: Surface Fleet, Undersea Fleet 3) By End Use: Destroyer, Frigate 4) By Application: Rescue, Defense, Other Applications The global warship and naval vessels market size grew from $61.71 billion in 2022 to $69.86 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of warship and naval vessels market is expected to grow to $110.39 billion in 2027 at a CAGR of 12.1%. The growth in global defense spending is driving the warship and naval vessels market. Global defense spending has increased in recent years due to the rising regional conflicts in the world. Countries are spending exclusively on upgrading their defense and naval vessels to safeguard their maritime rights and interests. According to the study published by the Stockholm International Peace Research Institute, global military expenditure increased to $1,981 billion in 2020, a 2.6% increased from 2019, and the USA, China, India, Russia and UK accounted for 62% of global military expenditure. The increase in defense spending by countries across the globe is expected to boost the warship and naval vessels market during the forecast period. Major players in the warship and naval vessels market are Babcock International, DSME, Fincantieri, Garden Reach Shipbuilders & Engineers, General Dynamics, Hyundai Heavy Industries, Kawasaki Heavy Industries, Lockheed Martin, Navantia, Reliance Naval, Austal, BAE Systems, Curtis-Wright, DCNS, Finmeccanica, Huntington Ingalls, Kongsberg, and Raytheon. The warship and vessel manufacturers are adopting advanced environment-friendly materials to reduce the pollution and environmental damage in oceans. The rising war and conflict activities among countries cause a lot of pollution and environmental damage to the ocean. To control such activities, manufacturers are adopting the greener approach in the maritime industry by using sustainable materials, like fiber-reinforced plastic, which reduces the carbon footprints in ships. For instance, In March 2021, Hyundai Mipo Dockyard and Korea Shipbuilding & Offshore Engineering (KSOE) announced that they had inked a commercial agreement with the American Bureau of Shipping (ABS) and the Marshall Islands Flag State for the creation of a liquefied carbon dioxide carrier. Hyundai Mipo Dockyard and KSOE will collaborate on the development of a ship that can sustain and carry liquid carbon dioxide at low temperatures and high pressures. In March 2021, Japan-based firm Mitsubishi Heavy Industries announced the acquisition of a shipbuilding services company Mitsui E&S Holdings, for 5 billion yen ($46 million). With this deal, Mitsubishi heavy industries hold Japan's largest defense contractor, a 54% share of the country's market for naval vessels and aim to grow sales in its defense and space segment by 10% to 20% in the coming next five years. Mitsui E&S's Tamano Works, where Japan's newest submarine-hunting ship was launched last year, will be taken over by Mitsubishi Heavy, along with around 400 of the 700 workers there. Mitsui E&S Holdings is a Japanese company that offers shipbuilding services established in 1917 with businesses in machinery, ocean development, engineering and IT services. North America was the largest region in the warship and naval vessels market share in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global warship and naval vessels market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the warship and naval vessels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The warship and naval vessels market consists of sales of cruisers, corvettes, littoral combat ships, and amphibious assault ships.  Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The warship and naval vessels market research report is one of a series of new reports from The Business Research Company that provides warship and naval vessels market statistics, including warship and naval vessels industry global market size, regional shares, competitors with a warship and naval vessels market share, detailed warship and naval vessels market segments, market trends and opportunities, and any further data you may need to thrive in the warship and naval vessels industry. This warship and naval vessels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Vessel traffic management refers to a system that enables safe and efficient traffic management in a specified maritime area. Vessel traffic management contributes to the safety of life at sea, the efficiency of navigation, and the protection of the marine environment, including adjacent shore areas, work sites, and offshore installations, from possible adverse effects of maritime traffic. Vessel traffic management systems are installed in some of the busiest waters in the world and are making a valuable contribution to safer navigation, more efficient traffic flow, and the protection of the environment. The main types of systems in vessel traffic management are port management information systems, global maritime safety systems, river information systems, aton management and health monitoring systems, and others. The port control Port Management Information System (PMIS) is a comprehensive port automation solution that includes modules that may be set up to suit the requirements of the end customers. The different components include solutions and services that are employed in several sectors, such as the commercial sector and the defense sector. The global vessel traffic management market is segmented – 1) By System: Port Management Information System, Global Maritime Safety System, River Information System, ATON Management and Health Monitoring System, Other Systems 2) By Component: Solution, Service 3) By End User: Commercial Sector, Defense Sector The global vessel traffic management market size will grow from $4.46 billion in 2022 to $4.87 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of vessel traffic management market is expected to grow to $6.47 billion in 2027 at a CAGR of 7.4%. The rise in maritime traffic is expected to propel the growth of the vessel traffic management market going forward. Maritime traffic refers to all commercial shipping between two or more ports or moorings, excluding recreational boats, regular ferry services, coastal fishing, and inland waterway transportation. Vessel traffic needs an efficient system to guarantee the security of both infrastructure and vessels where software is readily available to give vessel traffic management the resources they require. Ship tracking through vessel traffic systems employs AIS, radar, and video surveillance to seamlessly integrate into one software that can be handled remotely, whether it's controlling marine traffic or protecting infrastructure. For instance, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization intended to promote the interests of developing states in world trade, in 2020, 815.6 million TEUs (twenty-foot equivalent units) of containers were handled in ports worldwide. Also, 94.3 million twenty-foot equivalent units (TEUs) were handled in the main European Union (EU) ports. Therefore, the rise in marine traffic is expected to drive the demand for the vessel traffic management market. Major players in the vessel traffic management market are Kongsberg Gruppen, Wartsila, Thales Group, Leonardo, Saab, Indra Sistemas, Rolta, Tokyo Keiki, L3harris Technologies, Signalis, ST Engineering, Marlan Maritime Technologies, Xanatos Marine Ltd., and Vissim. The development of advanced vessel traffic management is the key trend gaining popularity in the vessel traffic management market. Various governments across the globe are focused on developing new and advanced vessel traffic systems to safeguard marine safety for smooth trade activities. For instance, in August 2021, the government of Canada launched a system to improve trade at the port of Vancouver. The system will improve marine safety by reducing traffic, actively regulating marine traffic and reducing noise pollution. It will increase the efficiency and dependability of the flow of commodities and safeguard the local killer whale habitat. In January 2022, Leonardo, an Italy-based company that develops multi-domain operational capabilities in the aerospace, defense, and security sectors, acquired Hensoldt for a deal amount of $ 689 million. According to Leonardo, the deal is a step towards the company's goal of establishing a presence in the European market for defense electronics. Hensoldt is a UK-based company that provides state-of-the-art radar systems for the management, safety, and security of busy shipping lanes, ports, waterways, and coastlines. North America was the largest region in the vessel traffic management market in 2022. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the vessel traffic management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the vessel traffic management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The vessel traffic management market includes revenues earned by entities by improving the maritime safety and efficiency of navigation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The vessel traffic management market research report is one of a series of new reports from The Business Research Company that provides vessel traffic management market statistics, including vessel traffic management industry global market size, regional shares, competitors with vessel traffic management market share, detailed vessel traffic management market segments, market trends, and opportunities, and any further data you may need to thrive in the vessel traffic management industry. This vessel traffic management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Offshore support vessels are specialty ships designed for operating on the ocean, serving multiple purposes. They serve as platform support, anchor handling, construction, maintenance, and anything from bringing equipment to rigs to repairing offshore wind turbines and more. The main types of offshore support vessel markets are anchor-handling tug supply vessels, platform support vessels, multipurpose support vessels, emergency response or standby vessels, rescue vessels, crew vessels, seismic vessels, and chase vessels. An anchor-handling tug supply vessel is a type of supply ship that helps in installing oil rigs in mid-sea and also for rescue purposes. These vessels also serve as emergency response and rescue vessels (ERVs) and as supply transports. The various services include technical services, inspections, surveys, and others. The various water depth includes shallow water, deep water and ultra-deep-water. The various application includes oil and gas applications, and offshore applications. The global offshore support vessel market is segmented – 1) By Type: Anchor-handling tug supply vessels, Platform Support Vessels, Multipurpose Support Vessels, Emergency Response or Standby and Rescue Vessels, Crew Vessels, Seismic Vessels, Chase Vessels 2) By Service: Technical Services, Inspection and Survey, Other Services 3) By Water Depth: Shallow water, Deepwater, Ultra-Deepwater 4) By Application: Oil and Gas Applications, Offshore Applications The global offshore support vessel market size will grow from $24.18 billion in 2022 to $26.03 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The offshore support vessel market size is expected to grow to $31.62 billion in 2027 at a CAGR of 5.0%. Increasing exploration and production activities for oil and gas are expected to propel the growth of the offshore support vessel market. A substantial presence of proven oil reserves in various countries is set to increase production activities. Innovations from such reserves are transforming into demand for well drilling and production activities, which, in turn, are maintaining the offshore support vessel market growth. Increasing oil and gas exploratory activities in the golden triangle, including the Gulf of Mexico, Brazil, and West Africa, are anticipated to drive offshore E&P activities in the region. For instance, in March 2022, according to a survey report published by S&P Global, a US-based publicly traded corporation, production, capital expenditures, employment, and overall operating costs all increased dramatically in Q1 in the oil and gas exploration industry. In addition, nearly 52% of respondents reported an increase in oil production, along with 47% reporting an increase in natural gas production during the quarter of 2022. Therefore, increasing exploration and production activities for oil and gas are driving the growth of the offshore support vessel market. Major players in the offshore support vessel market are Solstad Offshore ASA, Seacor Marine Holdings, Swire Pacific Offshore, Tidewater, Havila Shipping, Maersk, Siem Offshore, Bourbon Corporation SA, and Havila Shipping ASA. New product innovations have emerged as the key trend gaining popularity in the offshore support vessel market. Major companies operating in the offshore support vessel sector are introducing new products to reinforce their position. For instance, in December 2020, Siem Offshore's PSV, a Norway-based company that manufactures offshore vessels, launched its first hybrid vessel, Siem Symphony. This vessel is fitted with a 600-kWh chargeable battery pack as an additional power supply, which helps to lower the fuel consumption of the vessel. These hybrid vessels are effective during standby mode. In July 2020, Seacor Marine, a US-based international ship manufacturing company, acquired Seacosco for a deal amount of USD28.15 million. This acquisition will expand Seacor’s existing portfolio of support vehicles and solutions and boost the company's capabilities. The acquisition helps Seacor’s Marine strategy to transform their operations by advancing the technological capabilities and giving their customers the best possible solutions with high efficiency. Seacosco is a US-based offshore support vessel company. Asia-Pacific was the largest region in the offshore support vessel market in 2022. North America is expected to be the fastest growing market in the forecast period. The regions covered in the offshore support vessel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the offshore support vessel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The offshore support vessel market consists of sales of well intervention vessels, and accommodation vessels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The offshore support vessels market research report is one of a series of new reports from The Business Research Company that provides offshore support vessel market statistics, including offshore support vessel industry global market size, regional shares, competitors with an offshore support vessel market share, detailed offshore support vessel market segments, market trends and opportunities, and any further data you may need to thrive in the offshore support vessel industry. This offshore support vessel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.