Propelling Progress : Market Analysis and Opportunities in the Marine Propeller Industry Forecast, 2021-2030

According to a recent report published by Allied Market Research, titled, "Marine Propeller Market Size, Share, Competitive Landscape and Trend Analysis Report, by Propeller Type, Application, Number of Blades, Application and Sales Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030."

The global marine propeller market was valued $5,076.0 million in 2020 and is projected to reach $8,524.3 million in 2030, registering a CAGR of 5.5%.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/1946

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

AB Volvo
Brunswick Corporation
Kawasaki Heavy Industries, Ltd.
KSOE (Hyundai Heavy Industries Co., Ltd.)
MAN Energy Solutions
Nakashima Propeller Co., Ltd.
Rolls-Royce Plc
Schottel Group
VEEM Ltd.
Wartsila Oyj Abp

Asia-Pacific is expected to dominate the marine propeller market, owing to its high shipbuilding & seaborne trade activities and growth in maritime tourism activities. Rise in industrialization and urbanization in developing countries, presence of large number of leading players, and highly concentrated shipbuilding industry in China, Japan, and South Korea further strengthens growth of this region.

Electric propulsion technology in ships is gaining momentum as several shipbuilding companies are focusing on building greener ships, which would be based on clean energy. Electric propulsion technology enables gas turbines to generate three-phase electricity to run electric motors, which, in turn, rotates the propellers. This electric propulsion technology is expected to aid in reducing green house gas effect as well as contribute in reduction in weight of ship.

On the basis of application, the marine propeller market is segregated into merchant ships, naval ships, recreational boats, and others. Rise in demand for containerships has been observed after the COVID-19 pandemic. This surge in demand for containership is attributed to rushing of several e-commerce companies to stock up after a year of pandemic related supply chain disruptions. This growing demand for containerships is creating demand for new merchant ships to be built with more capacity, which also creates demand for equipment related to shipbuilding such as propellers, engines, and shafts.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/marine-propeller-market/purchase-options

Significant factors impacting growth of the marine propeller market comprises greater adoption of electric propulsion technology, increase in new shipbuilding & repair activities, greater demand for sea-based logistics & trade, and growth in demand for maritime travel & tourism activities. Moreover, factors such as high maintenance cost and introduction of stringent environmental regulations are expected hamper the market growth. Futhermore, technological innovations in marine propulsion systems and growth in navy expenditure across the world are expected to create new growth opportunities for the marine propeller market during the forecast period.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By type, the controllable pitch propeller segment is anticipated to exhibit significant growth in the near future.

By material, the aluminum segment is expected to register a significant growth during the forecast period.

By number of blades, the 5 blade propeller segment is anticipated to exhibit significant growth in the near future.

By application, the naval ships segment is expected to register a significant growth during the forecast period.

By sales channel, the aftermarket segment is anticipated to exhibit significant growth in the near future.

By region, Europe is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/1946

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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