Ship anchor market represents a highly concentrated landscape, with a few players dominating it. With ship anchor market being highly dependent on shipbuilding industry and marine sector, increasing number of ships are likely to signify the production rate of ship anchors across the globe. Moreover, owing to longer lifespan of ship anchors that goes upto 20 to 50years, demand supply of ship anchors is expected to increase at a significantly low rate, which in turn can impact on the overall revenue growth of ship anchor market. Amongst the prominent players in ship anchor market, Damen Group has been witnessed and holding a significant share in the global market with notable initiatives taken up by the company in maintaining environmental standards.
Damen Anchor & Chain Factory (AKF) Initiative
The ship anchor market player recently announced about its new initiative, thereby improving its environmental performance. Moreover, the ship anchor manufacturing company has been making sure that it stays firm towards its sustainability commitments. With ever-improved sustainability, the ship anchor company has taken immense efforts in taking up some unexpected initiatives such as the recent one, which is auction of the left-over surplus materials.
The company is projected to auction the left-over shipbuilding materials, in its extended efforts towards sustainability. There are higher possibilities where clients would be able to stock up on the spare parts in completely cost-efficient manner, which in turn is expected to offer some lucrative opportunities to the ship anchor market manufacturers.
Sustainability Initiative at its Peak
Manufacturers in ship anchor market can take a closer note on the matter that Damen is also working towards optimizing usage of materials that are ordered for the purpose of shipbuilding process, which dives in possibilities for long-term usage of ship anchor as well. In addition, the ship anchor market player is also expected to focus towards a better centralized control, with regards to purchasing power as well as advanced data storage of the purchased materials. Moreover, the ship anchor market player is also planning to take immense efforts in re-using the surplus materials, thereby catering to the circularity of their products on a major basis. Most of all, Damen Anchor & Chain Factory (AKF) will be working towards maximum efficiency and productivity at the company’s yards, thereby reducing wastage by an absolute minimum. This in turn is expected to help the ship anchor market player to make optimal usage of the purchased materials and this initiative is likely to enable in Damen Anchor & Chain Factory (AKF) in elevating its position in the ship anchor market across the globe as well.
Damen Shipyards Group Introduces New Design for Stimulating Operations
The ship anchor market player lately introduced its new design for FCS (Fast Crew Supplier) 3410 SATV (service accommodation and transfer vessel) that consists of various design features, which enables operational suitability in upgrading and evolving offshore wind market across North America. The patented design of the cutting-edge vessel helps with improvement in onboard and seakeeping comfort, which in turn draws in lucrative opportunities for manufacturers in ship anchor market as well, to enter into partnerships with Damen Shipyards Group on a long-term basis.
Notable Impacts on Ship Anchor Market
Increasing number of heavy-duty vessel activities are expected to lead towards dent of ship anchor, thereby resulting in leakage and significant impact on the global revenue sales of ship anchor market. Certainly, such factors are likely to impact on the growth prospects of ship anchor market as it can offer increasing production opportunities for the manufacturers, however can lead to lack of customer support as well. Regulatory bodies such as Michigan Department of Environmental Quality have been taking immense efforts in working towards prevention of oil spills and leakage of ship anchor, which can even turn out to be a major threat to public health.
Governments in certain countries such as Michigan are also working towards immediate granting approvals with regards to emergency orders for prohibiting the ships from dropping off the ship anchor in Straits of the Mackinac followed by a recent strike as well. The state has been planning to develop and engage only productive ship anchor, thereby formalizing rules over the usage of informal ship anchor in straits.
Currently, an on-going analysis has been in process that is expected to present all-inclusive analysis of ship anchor market for the forecast period, 2018-2028. To know more regarding the ship anchor market and its impactful developments and trends along with opportunistic areas, click here.