DUBLIN--(BUSINESS WIRE )--The "Marine Stove Oven Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
It is anticipated that the global market for Marine stove ovens will expand at a CAGR of 5% during the forecast period of 2022 - 2030. As a result of an increased emphasis on maintaining high standards of sanitation and food quality, there has been a rise in the number of passenger ships and cargo ships placing orders for stove ovens. On board most ships, there is a facility known as a marine stove-oven that can both cook and heat meals. Additionally, it can be utilized for the purpose of cooking or heating food on board ships.
Stringent Regulations Motivating the Growth of Marine Stoves Market
The expansion of international Marine trade combined with the rising demand for high-quality meals on board ships remains as the key driver. Shipbuilders and shipping companies are making significant investments in ships that use alternative fuels such as LNG instead of heavy fuel oil or diesel as a result of environmental regulations related to noise pollution from engines as well as emissions from vessels operating in sea locations.
These regulations aim to reduce the amount of air pollution caused by ships. Over the course of the forecast period, rising government initiatives regarding environment protection norms while operating large cargo ships at sea locations, in addition to an increasing emphasis on compliance with noise reduction laws, are driving vessel builders and shipowners to invest in low emission fuel options, such as natural gas (LNG) combustion technology. This is the case because of the increasing emphasis on compliance with noise reduction laws.
North America Expanding at a Healthy Rate
Because of the rising demand for high-quality food onboard boats, the market for marine stove ovens in the North American region is anticipated to expand at a large rate over the next several years. This demand can be satisfied by employing ovens that run on either gas or electricity. The increasing demand to automate cooking procedures on ships in order to increase operational efficiency and cut costs is another factor that can be contributed to the expansion of the industry.
Additionally, stringent government regulations regarding noise pollution from diesel engines are driving the use of alternative fuels such as LNG (Liquefied Natural Gas), which emit fewer pollutants when burned in comparison to traditional fuel used in the commercial shipping industry. These regulations are driving the use of alternative fuels in the commercial shipping industry.
Latin America Dominates the Market
During the time period covered by this projection, Latin America is anticipated to hold the highest share of the market for marine stove ovens. The expansion can be ascribed to an increase in demand from passenger and cargo ships as a result of the availability of inexpensive fuel sources such as LNG. In comparison to diesel or heavy oil, LNG is regarded as being friendlier to the environment.
Europe to be the Second Largest Market
By the year 2030, it is anticipated that Europe would hold the second-largest proportion of the global market for marine stove ovens. The expansion can be attributed to high investments and government initiatives related to environmental regulations. These factors are driving vessel builders and shipowners to invest in ships with an increased number of alternative energy sources such as engines that are fuelled by LNG. These engines help reduce air pollution caused by diesel-powered vessels without compromising the efficiency with which they carry out their duties.
By Marine Stove/Oven Type (2020-2030; US$ Million)
By Vessel Type (2020-2030; US$ Million)
Region Segment (2020-2030; US$ Million)
3. Marine Stove Oven Market: Business Outlook & Market Dynamics
4. Marine Stove Oven Market: By Marine Stove/Oven Type, 2020-2030, USD (Million)
5. Marine Stove Oven Market: By Vessel Type, 2020-2030, USD (Million)
6. North America Marine Stove Oven Market, 2020-2030, USD (Million)
7. UK and European Union Marine Stove Oven Market, 2020-2030, USD (Million)
8. Asia Marine Stove Oven Market, 2020-2030, USD (Million)
9. Latin America Marine Stove Oven Market, 2020-2030, USD (Million)
10. Middle East and Africa Marine Stove Oven Market, 2020-2030, USD (Million)
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900