Icelandic ocean technology sector grows by 13%

These companies design and manufacture fishing gear, packaging equipment, processing equipment and software for the fishing industry and sell their products under their own brand. Today, the firms that belong to this sector amount to around 70 in total.

The growth of the fisheries and fish processing industry was limited in 2012 according to Statistics Iceland. The income growth of the ocean technology sector succeeded expectations as the firms mostly expected a 5-10% increase in income when contacted one year ago.

The ocean technology sector is growing faster than the fishing industry and gross domestic product. These firms have shown substantial growth potentials and will need to have secure access to capital in the coming years in order to expand and market themselves internationally.

Marel and Hampidjan remain the largest ocean technology firms in Iceland. The 20 largest companies within the Icelandic ocean cluster are:

1. Marel hf.
2. Hampiðjan hf.
3. Skaginn hf.
4. Ísfell ehf.
5. Héðinn hf.
6. Kælismiðjan Frost ehf.
7. Prentsmiðjan Oddi hf.
8. Promens Dalvík ehf.
9. Samhentir kassagerð ehf.
10. Wise ehf.
11. Trefjar ehf.
12. Naust Marine ehf.
13. Vaki Fiskeldiskerfi hf.
14. PromensTempra ehf.
15. 3X Technology ehf.
16. Baader Ísland ehf.
17. Samey ehf.
18. Marorka ehf.
19. Valka ehf.
20. Sjóvélar ehf.

The report can be viewed here.