Global Ship/boat Keel Market: Introduction
The ship/boat keel is basically a flat blade sticking down into the water from a ship or boat bottom. Ship/boat keel has two functions – keel prevents the boat from being blown sideways by the wind, and holding the ballast that keeps the ship/boat right-side up. The two popular choices of material for ballast ship/boat keels are lead and iron.
Lead has distinct advantages over iron in its higher density (and thus lower volume for a given weight) and its resistance to corrosion. However, cast iron ship/boat keel has two important advantages over lead including significant mechanical properties and substantially lower cost. The ship/boat keel must be strong enough to go ground without undue concern about unseen, collateral damage from keel bolt sheering.
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For OEM boat builders, recent fluctuations in metal prices, combined with an exceptionally challenging market for sailboats, have tilted the advantage toward iron. Subsequently, that shift has left traditional lead ship/boat keel manufacturers scrambling to redefine their market.
Low gas prices are likely to play a pivotal role in the development of ship/boat keel market in North America and Europe. Subsequently, the aim of the study is to analyze the most recent trends, dynamics, and potential strategies in the global ship/boat Keel market.
Global Ship/boat Keel Market: Dynamics
The prominent demand drivers for the ship/boat keels are tourism expansion and vessel replacements. Another structural feature in the marine industry includes the excess capacity and excess supply of shipyards and vessels. Also, port infrastructure developments and extensive range of projects are expected to encourage the demand for ship/boat keels in the forthcoming years.
Subsequently, mirroring the high demand for ship/boat keels in the region. Although the relationship between economic output and cruise tourism seems to be shifting, with an observed decline in the growth ratio of trade to the gross domestic product (GDP) over recent years. Thus, impacting the demand for ship/boat keels in the near future. The high volatility of local demand and unpredictability of non-resident visits to coastal regions through time makes maritime and coastal tourism.
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Global Ship/boat Keel Market: Segments
The global ship/boat keel market can be segmented on the basis of sales channel, keel type, material, and region
On the basis of the sales channel, the global ship/boat Keel market can be segmented as:
- OEM
- Aftermarket
On the basis of the keel type, the global ship/boat Keel market can be segmented as:
- Conventional Trapezoidal-Type
- Modern Fin Keels with Bulbs
- Lifting or Demountable Fin
On the basis of the material, the global ship/boat keel market can be segmented as:
- Lead
- Metal/Iron
Global Ship/boat Keel Market: Regional Outlook
Italy, Germany, and France are the prominent ship/boat keel markets across the European region against the backdrop of strong manufacturing foothold and extensive fleet size. Furthermore, Northern Europe retains a significant percentage of recreational boat builders, thereby, encouraging the demand for ship/boat keel/. With the growth of many new forms of outdoor recreational activity, the boating and cruising industry are set to flourish over the coming years.
Cruise tourism is also a key contributor to the growth of the recreational boat industry. According to statistics published by the Ministry of the Tourism in India, in the year 2015 India attracted over 8 million foreign tourists and registered foreign exchange earnings with a growth of 9.6% compared to the previous year.
Vietnam and other ASEAN countries are also attracting considerable investment from foreign investors into domestic yards because of the support from the regional government. Additionally, GCC countries, as a result of strategic location, are the vital geographies in terms of trade augment the demand for ship/boat keels. Consequently, driving the regional demand for ship/boat Keels over the coming years.
Global Ship/boat Keel Market: Key Participants
List of some of the prominent market participants in the global ship/boat keel market discerned across the value chain include:
- Mars Metal Company
- APM srl
- CARIBONI S.R.L.
- OneSails International
- Delphia Yachts
- RS Sailing
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