What is Watertight Door Market and How Does It Work Read? Read this Report
Key Insights
The global Watertight Door market was valued at USD 245.63 Million in 2020 and is projected to reach USD 698.03 Million by 2028, growing at a CAGR of 6.29% from 2021 to 2028.
Definition and Overview
Watertight doors are special types of doors found on ships that prevent the ingress of water from one compartment to another during flooding or accidents and therefore act as a safety barrier. It limits the spread of water inside the vessel.
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Regional Analysis Preview
On the basis of region, the global Watertight Door market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held the largest share of the global Watertight Door market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.
Global Watertight Door Market: Regional Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Key Findings:
- Hinged watertight doors are estimated to have a high share in the Global watertight doors market at a CAGR of 7% during the forecast period. These doors are used in many ships as a safety barrier. These include offshore vessels, container vessels, large passenger ships, and oil exploration vessels which propel the segment demand in the market.
- The hydraulic watertight doors segment is projected to grow at a CAGR of 5% during the forecast period. Manually operated doors are more crucial for safety reasons than electric or other doors in every naval vessel. If any major system failure occurred such as electricity failure or other, hand-operated watertight doors are useful to preserve the integrity of the ship.
- North America is projected to grow at a CAGR of 4.6% during the forecast period. A decrease in the traffic in major areas within the shipping lines and in the country is impacting product adoption. In addition, rising demand for commercial vessels and increasing shipbuilding pertaining to the battle forces will demand the watertight door market growth.
Competitive Landscape
The market comprises various small, medium, and large-sized players spread across all the regions. Some of the key companies operating in the global Watertight Door market are MML Marine Limited, REMONTOWA HYDRAULIC SYSTEMS Sp. z o.o., IMS Groups, AdvanTec Marine, SeaNet SA, Westmoor Engineering Ltd., Baier Marine Company Inc., Van Dam B.V., Ocean Group, Winel B.V.
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