The marine sector accounts for about 10% of the entire Chinese economy. As its importance grows, so too will the Marine Services industry.
San Francisco, CA (PRWEB) September 02, 2012
Increasing investment in pollution control projects by China's central and local governments has led to strong growth for the Marine Services industry in China. Over the five years through 2012, industry revenue has been increasing at an average annualized rate of 11.1% to total $238.2 million. China’s marine economy accounts for about 10.0% of the economy as a whole in China. Its importance is expected to grow in the future, which will bring more businesses to the industry.
There are about 300 enterprises operating in this industry, most of them with annual revenue of less than $750,000. The industry’s top players include Guangzhou Marine Geological Survey, Shanye Marine Services, and Yantai Shunda Ocean Engineering Service. The majority of marine services firms have a limited business scope and very few have developed dominant advantages in the national market. Foreign investment in the industry is currently low, however, as China's marine economy becomes more globalized, IBISWorld anticipates that more large foreign players will enter the industry. The foreign presence in this industry is mainly in the form of joint ventures that combine the local backgrounds of domestic firms with the technological strength of foreign investors.
Growing investment in marine engineering construction and marine pollution control programs will drive industry growth, IBISWorld anticipates. Greater investment into the Marine Services industry is also expected from governments, enterprises and research institutes into marine services research and development.
For more information, visit IBISWorld’s Marine Services in China industry report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
IBISWorld industry Report Key Topics
The Marine Services industry in China comprises establishments that provide a wide range of specialized marine and offshore services, including marine management, marine evaluation, marine and polar expeditions, marine weather forecasting, marine pollution control and other marine services. Marine scientific research is not included in this industry.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.