Marine Switchboard Market Potential Growth, Challenges, COVID19 Impact Analysis and Major Key Players Analysis 2023

Global Marine Switchboard Market – Introduction

  • Marine switchboards are typically designed to control the power and electrical requirement of the shipping industry and to supply electricity and power to various vessels operating in sea water. It is difficult to carry out a number of electrically powered tasks in the sea or in naval industries as water and electricity together produce current which can prove dangerous for people working in the marine industry. Therefore, marine switchboards are a specialized switchboard manufactured with sophisticated and automated electrical specifications. Marine switchboards have an electrical interlocking system, multiple controlling mechanisms providing redundancy, are energy efficient with monitoring alarm, and supply adequate amount of voltage to circuit breakers.

Ease of use and customized design driving demand for marine switchboards

  • Metering and control units are made keeping in mind specifications of the marine industry for larger ships, tugboats, commercial fishing boats, research vessels, etc. It is essential to meet the particular requirements of power for vessels operating in the sea; therefore, a customized design is needed and calculation of power units are according to the temperature, chemical properties of water, and ergonomics, etc. These properties make it easier to operate for inexperienced crew members as well. Metering and control units are easy to view, and easy to understand as they are manufactured with large colored touchscreens and a digital metering power & energy system. Therefore, marine switchboards are gaining popularity, leading to their higher sales.

Marine engineered applications and higher degree of protection provided leading to advanced results for marine switchboards

  • Components of marine switchboards are built with mechanisms which prevent corrosion, fungus, and damage to switches and the processes are based on years of marine experience, aiming at implementing utmost security of crew members. The materials used for making switchboard enclosures are lightweight corrosion resistant material and are smaller in size compared to the typical switchboard designs. Long lasting powder coated cabinets for voltage and current supplying systems have enabled the implementation of marine engineering effectively. These additions made to marine switchboards have led to their rising sales and demand in the market.

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Marine Switchboard, K-Power - Kongsberg Maritime

North America considered the dominant region in the global marine switchboard market

  • In terms of geography, the global marine switchboard market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America accounted for major share of the global marine switchboard market in 2019. The market in North America is anticipated to expand at a significant rate during the forecast period due to growing naval bases in the region, increase in transportation and logistics via the shipping industry, and increased focused on marine hybrid systems to optimize energy while reducing emissions in countries such as the U.S., Canada, and Mexico, all of which is projected to fuel the demand for marine switchboards in the region.
  • The market in Asia Pacific is expected to expand at a substantial rate during the forecast period due to an increase in transportation of petroleum, and oil & natural gas in countries of the Middle East such as Iran, Iraq, and Saudi Arabia. Growing activities by the defense industry and increased focused on coastal security in China, South Korea, Japan, India etc. is projected to surge the demand for marine switchboards in the region. Furthermore, growth in the shipbuilding industry, and expansion of the navy in other countries of Southeast Asia is estimated to boost the use of marine switchboards in the near future.

Key Players Operating in the Marine Switchboard Market

Major manufacturing companies are competing with each other in the market. Prominent players such as Kongsberg Maritime, Larsen & Toubro Limited, Schneider Electric, and Bay Power Inc., are aiming at producing products which are safer and easier to handle by crew members. Companies are expanding by designing marine switchboards which help ships to manage their energy consumption and can facilitate the use of battery technology. Some of the key players operating in the global marine switchboard market include:

  • Kongsberg Maritime
  • Larsen & Toubro Limited
  • Schneider Electric
  • Bay Power Inc.
  • Lake Shore Electric Corporation
  • Industrial Electric Mfg
  • Elcome Integrated Systems Pvt. Ltd.
  • Fine Line Marine Electric
  • DEIF A/S

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Global Marine Switchboard Market – Research Scope

Global Marine Switchboard Market, by Type

  • Low Voltage Marine Switchboard
  • Medium Voltage Marine Switchboard
  • High Voltage Marine Switchboard

Global Marine Switchboard Market, by Voltage

  • Below 500 V
  • 500- 800 V
  • 800-1000 V
  • Above 1000 V

Global Marine Switchboard Market, by Power

  • Below 10000 W
  • 10000-40000 W
  • 40000-80000 W
  • Above 80000 W

Global Marine Switchboard Market, by Price Range

  • Low
  • Medium
  • High