Global Marine Interiors Market is projected to reach USD 4.65 Billion and register a CAGR of 11.2% from 2020 to 2026.
The developed seaborne trade and the maritime tourism industry globally is driving the growth of the market. Furthermore, growth in the refurbishment market is fueling the growth of the marine interiors market.
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An increase in the demand for passenger ships with advanced interiors
Growth Opportunities in the Market
Ceilings & wall panels segment expected to register high growth: The ceilings & wall panels segment accounted for the largest market share in 2019 and is expected to exhibit a high CAGR during the review period. The ceilings & wall panels are the vital components of the ship interiors. Moreover, with the development of lightweight and easy to install panels, the growth of this segment is expected boost in the review period.
Passenger area segment expected to register a high growth rate: The passenger area segment accounted for the largest market share in 2019 and is expected to exhibit a high CAGR during the review period. The increasing demand for passenger ships with advanced interiors for maritime tourism is driving the growth of the segment. The public area segment is expected to register the highest CAGR during the forecast period.
Commercial ship segment expected to register the higher growth rate: The commercial ship segment is expected to exhibit a high CAGR during the review period. Increasing investments in the development of advanced passenger vessels and increasing demand for cargo vessels are expected to boost the demand for advanced interiors.
Other Prominent Players