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Marine Propeller Market Report
Marine Propeller Market Size, Share, Trend, Forecast, & Competitive Analysis.
Marine Propeller Market is likely to witness an impressive CAGR of 4.2% during the forecast period. Increased demand for marine propellers from the new shipbuilding & repair market, growth in international seaborne trade and maritime tourism are the major factors expected to bolster the global marine propeller market.
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Marine Propeller Market - Snapshot |
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Growth |
4.2% for the next five years |
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Major Application Type |
Merchant ships |
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Major Number of Blades Type |
5-blade |
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Dominant End-User Type |
OEM |
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Dominant Propulsion Type |
Sterndrive |
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Region with the highest demand |
Europe |
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Key Players |
Brunswick, Caterpillar, Kawasaki Heavy Industries, Man SE, Nakashima Propeller, Rolls-Royce, Schottel, Volvo, and Wartsila. |
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Based on the application type, the market is segmented as merchant ships, naval ships, recreational boats, and others. The merchant ships segment is expected to witness the highest growth during the forecast period. The growth of the segment can be attributed to the growing demand for imported goods. The International Chamber of Shipping (ICS) estimates, more than 50,000 merchant ships are engaged in transporting cargos internationally. In addition, as per the United Nations Conference on Trade and Development (UNCTAD), the Greek merchant fleet is considered to be the largest, globally encompassing 4,017 ships; it accounts for over 16% share of the world’s total tonnage.
Based on the number of blades type, the market is segmented as 3-blade, 4-blade, 5-blade, and others. The 5-blade segment is likely to register the highest growth during the forecast period, owing to the fact that 5-blade propellers offer improved propulsion efficiency and deliver lesser vibration as compared to 4-blade propellers.
Based on the end-user type, the market is segmented as OEM and aftermarket. The OEM segment is estimated to depict a higher growth in the coming five years. The market is driven by increased expenditure on shipbuilding activities by different regions globally. Further, OEMs offer line-fit and retrofit options, thereby saving the frivolous wastage of time, otherwise consumed in the installation of marine components post their delivery.
Based on the propulsion type, the market is segmented as inboard, outboard, sterndrive, and others. The sterndrive segment is estimated to portray the highest growth during the forecast period. The growth of the segment is owing to the growing demand for ships equipped with sterndrive propulsion systems. These systems incorporate an outboard unit that is attached to the inboard gas or diesel engine located at the rear of the boat.
In terms of regions, the marine propeller market in Europe is estimated to witness the highest growth during the forecast period. The market is driven by the European shipbuilding industry, which is engaged in the construction of intricate naval vessels, such as ferries, cruise ships, mega yachts, dredgers (offshore vessels), and submarines. Further, the European marine equipment industry offers a plethora of products that comprise diesel engines, propulsion systems, cargo handling systems, environmental safety systems, and related electronics. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Marine Propeller is the fan-like structure of a ship that is used for the purpose of propulsion with the engine energy. There can be one or more than one propeller in a ship depending upon the type.
Marine Propeller is made up of nickel-aluminum bronze, bronze, stainless steel, aluminum, and others. Merchant ships, naval ships, recreational boats, and others are the application areas where the marine propeller is used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Marine Propeller Market Report - Features |
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|---|---|
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Market Segmentation |
7 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
15 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
9 |
The marine propeller market is segmented into the following categories.
Some of the major players in the marine propeller market are-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
Marine Propeller is the fan-like structure of a ship that is used for the purpose of propulsion with the engine energy. There can be one or more than one propeller in a ship depending upon the type. Marine Propeller is made up of nickel-aluminum bronze, bronze, stainless steel, aluminum, and others. Merchant ships, naval ships, recreational boats, and others are the application areas where the marine propeller is used.
Marine Propeller Market is likely to witness an impressive CAGR of 4.2% during the forecast period.
In terms of regions, the marine propeller market in Europe is estimated to witness the highest growth during the forecast period.
Some of the major players in the marine propeller market are Brunswick, Caterpillar, Kawasaki Heavy Industries, Man SE, Nakashima Propeller, Rolls-Royce, Schottel, Volvo, and Wartsila.
The merchant ships segment is expected to witness the highest growth in the marine propeller market during the next five years.
The OEM segment is expected to depict a higher growth in the marine propeller market in the coming years.
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