Marine Industries Global Market Analysis - Marine Institute

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20 MARINE INDUSTRIES GLOBAL MARKET ANALYSIS dredging reducing the need for onshore pits bringing certain environmental benefits. Historically the sector has displayed steady growth through to 2004, from €2.3 billion in 1999.The forecast is for growth, averaging 2.7% leading to a value of €3.1 billion in 2009. 3.7 MANUFACTURING 1999–03 2004 2005–09 Irish Market €M 2 0 2 UK Market €M 1,001 234 928 Europe Market €M 63,913 13,143 52,076 World Market €M 183,440 37,746 155,017 SHIPBUILDING Page 107 (€38bn in 2004, €30bn in 2009) The shipbuilding industry was valued at €38 billion in 2004, with Europe’s €13 billion share being significant, some one third of this. 1,430 shipbuilders and repairers are listed worldwide, but there is a history of overinvestment and subsidy. As a result, Asia dominates the ‘bulk’ vessel market, but the emergence of China as a shipbuilder now threatens the main players, Japan & Korea. Europe is associated with higher tech, low volume vessels (cruise, offshore, etc), but the high value of the Euro has major impact on EU shipbuilders and their suppliers. Ireland is not a significant player. From a value of €31.9 billion in 1999 the sector peaked (in Euro terms) in 2002 at €40 billion.This peak, we believe, will be followed by a return to long-term lower growth trends, with a market value similar at the end of the forecast period, to the start of the historic period.Therefore, the forecast annual growth rate for 2005–2009 in Euros is –4%, representing the return to previous levels of activity. 1999–03 2004 2005–09 Irish Market €M 1 0 1 UK Market €M 571 133 529 Europe Market €M 94,721 16,675 73,263 World Market €M 355,826 72,871 358,315 MARINE EQUIPMENT Page 111 (€73bn in 2004, €70bn in 2009) This is a very large market (€73 billion in 2004) and although other smaller sectors could also be included there are two main segments: • Shipbuilding, where items such as propulsion systems & machinery total €21bn with over 5,000 suppliers listed worldwide. • Oil & gas sector, where capital items such as platforms, pipelines, subsea equipment, etc. total €49bn and over 6,000 suppliers are listed worldwide. The market was worth €64 billion in 1999. Since then, the sector has displayed slight fluctuations, but a general trend of growth, with forecast value of €70 billion for
MARINE INDUSTRIES GLOBAL MARKET ANALYSIS 21 2009, representing a slight decline of 0.6% annually from 2005 following a peak of €74 billion in 2006.This is due to a forecast slight decline in shipbuilding. There is growing technology content and hundreds of high-tech sub-sectors, many of which offer opportunities. MARINE IT Page 113 (€3.4bn in 2004, €3.4bn in 2009) In 2004 the world value of Marine IT was €3.6 billion. Europe’s share was €1.4 billion, amounting to nearly 40% of the world market. There are more than 500 suppliers of ‘marine computing’ worldwide (mainly SMEs, plus many leisure sector players). IT hardware & software applies to, and is embedded in all aspects of marine activity so it is difficult to value.The major sectors are ship operations (e.g. integrated bridge), equipment support (e.g. engine management), marine operations (e.g. cargo handling) and design. 1999–03 2004 2005–09 Irish Market €M 43 18 78 UK Market €M 648 217 917 Europe Market €M 3,794 1,382 5,872 World Market €M 9,780 3,570 16,012 Marine IT has grown substantially from €1.3 billion in 1999.There is an overall longterm increase in IT content in the marine sector and it could hold significant potential for Ireland. Globally, the sector is set for its long-term steady growth to continue; however, after a peak in 2004, annual growth is forecast at –0.9%, although total period growth 2005–2009 is 7%. MARINE BIOTECHNOLOGY Page 113 (€2.2bn in 2004, €2.6bn in 2009) In 2004 the global value of marine biotechnology was €2.2 billion. As the sector is in the early stages of its development, there is at present insufficient information on which to base country or regional segmentation of these estimates. 80% of living organisms are found only in aquatic ecosystems, yet little is known about their biochemical characteristics.This is a new sector with considerable interest being shown by the US, Japan, the UK and others.There have been some initial successes (the US Sea Grant programme, with small investments, developed five drugs “with market potential of $2bn p.a.”) and considerable long-term potential beyond the timeframe of this report. 1999–03 2004 2005–09 Irish market €M – – – UK market €M – – – Europe market €M – – – World market €M 11,350 2,190 11,848
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Strategic Planning and Development
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