The Global Marine Propeller Market Size Was Valued At USD 3.48 Billion In 2021. The Market Is Projected To Grow From USD 3.60 Billion In 2022 To USD 5.68 Billion By 2030, Exhibiting A CAGR Of 6.76% During The Forecast Period. Global Marine Propeller Market Reports give a Key study on the industry status of the Marine Propeller Industry Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. The research report also covers the Market Size, Price, Sales, Revenue, Market share, Gross Margin, growth rate, and cost structure. The report aims to give an additional sample of the latest scenario, economic slowdown, and Covid-19 impact on overall Industry.
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The COVID-19 pandemic has been shocking and has never happened before. As a result, the demand for marine propellers is lower than expected in all areas compared to before the pandemic. Our research shows that the global market was 21.84% smaller in 2020 than in 2019.
A marine propeller is hard to make because it has blades that spread out and a shaft that goes through the blades. When building a naval ship with a central hub, the rotating blades move the ship. A navy ship can have up to five or six radiating blades, depending on how fast it needs to go and how well it needs to turn.
Marine propulsion systems that can track data in real time will be good for the market. But the price of oil and gas is changing, which makes it harder for the market to grow. In March 2019, Rolls-Royce Holdings and Cantiere Navale Vittoria, an Italian shipbuilder, signed a contract for a marine propulsion system for offshore patrol vessels.
Competitive Landscape and Global Market Share Analysis:
AB Volvo (Sweden), Brunswick Corporation (U.S.), Kongsberg Gruppen (Norway), Mecklenburger Metallguss GmbH (Germany), Bruntons Propellers Ltd. (U.K.), Hyundai Heavy Industries Co., Ltd. (South Korea), Kawasaki Heavy Industries, Ltd. (Japan), MAN SE (Germany), NAKASHIMA PROPELLER Co., Ltd. (Japan), Rolls-Royce plc (U.K.), SCHOTTEL Group (Germany), Michigan Wheel Holdings LLC (U.S.), Wärtsilä Corporation (Finland), VEEM Propellers Ltd. (Australia), Andritz AG (Austria), Others
Market Segmentation:
By Type:
- Propellers
- Thrusters
- Others
By Application:
- Merchant Ships
- Naval Ships
- Recreational Boats
- Others
By Number of Blades:
- 3-blade
- 4-blade
- 5-blade
- Others
By Propulsion:
- Inboard
- Outboard
- Sterndrive
- Others
By Material:
- Stainless Steel
- Aluminum
- Bronze
- Nickel-Aluminum Bronze
- Others
By End-User:
- OEM
- Aftermarket
- Others
The report on the Marine Propeller market covers the following region (country) analysis:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Regional Insights:
This market is split into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific market was worth $1.21 billion in 2021. This is because of growing demand for frigates and corvettes from emerging economies like India and China to improve coordination in the naval fleet, several procurement initiatives, and the demand for modern amenities on cruise ships. South Korea is the only country in Asia and the Pacific that makes more merchant ships than any other country. More and more older ships are getting upgrades to their marine propeller design systems, which is making the market grow.
The market in Europe will grow a lot over the next few years. France, Germany, the United Kingdom, and Russia all have a lot of people who work in marine interiors. This makes it more likely that people on cruise ships will want to go on yachts.
Between 2022 and 2029, North America will grow a lot. This growth is because dry cargos in the U.S. have been updated to allow for real-time data exchange. This was made possible by the area’s thriving marine industry, the presence of the largest marine lines, the rise in investment in the marine sector, and the rise in the number of companies that make marine propellers. Also, the high demand for specialised boats in Canada’s maritime tourism is likely to help the market.
In the rest of the world, the market will grow a lot between 2022 and 2029. People in the area have a lot of money, there are more travel and business opportunities, passenger tastes are changing, people want more modern amenities, and the number of shipbuilding industries is growing.
Following are the major TOC of the Marine Propeller Market:
Chapter 1: Marine Propeller Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Global Marine Propeller Market Competition by Manufacturers
Chapter 4: Global Production, Profits (Value) by Region
Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions
Chapter 6: Global Price Trend by Type, Revenue (Value), Production
Chapter 7: Manufacturing Cost Analysis
Chapter 8: Global Market Analysis by Application
Chapter 9: Industrial Chain and Downstream Buyers, Sourcing Strategy
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Marine Propeller Market Forecast
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Key Reasons to Purchase Marine Propeller Market report:
The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges and strategic inputs to overcome the market threats.
In-depth market analysis and an overview of the global Marine Propeller Market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
Reader can acquire a better interpretation of the Marine Propeller Market forecast’s future view and opportunities from the report.
The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
To gain an understanding of the market strategies by the leading market players in the Marine Propeller
The report analyses the most important driving and restraining factors in the industry, as well as their impact on global market growth.
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