Marine Beacon Market landscape and its growth prospects 2017-2027
Marine beacons are basically a type of simple light emitting navigational aids used in surfaces of seas, rivers or oceans to guide the seafarers to maneuverer the ship or boat accordingly and also warns about the presence of an obstacle ahead. The marine beacons are especially helpful in night time navigation where visibility comes down to minimum. The marine beacons are simple in construction containing a strong and efficient light source whose visibility ranges 1 to 2 kilometres and built such a way to repel the effects of harsh marine environments. The marine beacon market is a highly fragmented and unorganised market with many small players involved in its manufacture that ultimately takes up a large market share. A majority of manufacturers of this product are located to a close proximity to potential waterways such as seas or rivers to reduce product transportation costs and delivery times to its clients.
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Marine Beacon Market Dynamics
In the recent years, Globalization has paved a way for the sales of goods from its local manufacturing location to overseas markets which has led to burgeoning growth in International trade activities. From the logistics point of view, goods can be transported by means of air, land and sea, however, sea transportation is the most common channel preferred in the present scenario owing to high volume of goods per trip and low cost involved. This factor is highly beneficial for the growth of the marine beacon market owing to requirements for safer and faster navigation. The growth of marine beacon market is further aided by renewed interest in sea tourism activities especially in the North American and European region owing to increase in the number of seaside beaches, slipways and port side harbours.
Though marine beacon market is anticipated to grow substantially in the upcoming years, absolute growth of the market is restrained by factors such as lack of well organised manufacturers and lack of qualified personnel for its installation in seas and rocky waters. Other restraints that can potentially hamper the growth of marine beacon market in the upcoming years is fragmented supply chain network which can lead to inefficient distribution of the product.
Marine BeaconMarket: Segmentation
Marine BeaconMarket can be segmented as follows;
By Product type, the Marine Beacon market can be segmented as:
- LED Marine Beacon
- Halogen Marine Beacon
By Application the market can be segmented as:
By Power Source, the market can be segmented as:
- Solar Charged
- AC Charged
Marine BeaconMarket: Regional Outlook
The marine beacon market can be co-related to the maritime transport across the globe. The North America region can be anticipated to hold a very high potential for the market to flourish owing to large number of import and export activities taking place via the waterways requiring strategic and proper placement of high powered marine beacons to guide the navigators. The same holds true for the Asia Pacific region, in particular China which is an export oriented economy supplying its products all around the world, holding new grounds for investments in marine beacon market. The Middle East & Africa region can be considered as a stopover region or the centre point between the eastern and western economic regions making it an ideal place for the goods transportation ships for a stopover for maintenance and repair works. Hence, the region has come to be known as an important trading location which can positively influence a growth of the marine beacon market.
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Marine Beacon Market: Market Participants
Examples of some of the major players in the Global Marine Beacon market, identified across the value chain include:
- Ocean Signal Ltd.
- ACR Electronics, Inc.
- Floatex Srl
- Moflash Signalling Ltd.
- SABIK Marine
- Sealite Pty. Ltd.
- Grupo Lindley
- JFC Manufacturing Co., Ltd.
- CR Control Systems, Inc.
- Mobilis SAS
- Planet Ocean Ltd.
- Xylem Inc.
- Hi-Sea Marine Equipment Import & Export Co., Ltd.
- Vega Industries Ltd.