DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Marine Propeller Market by Propeller Type and Ship Type - Global Opportunity Analysis and Industry Forecast, 2014-2022" report to their offering.
The global market is expected to garner $268 billion by 2022, registering a CAGR of 4.3% during the period 2016 - 2022. Passenger car segment is expected to maintain its dominant position throughout the forecast period. Asia-Pacific would continue to lead, accounting around 44% share of the world automotive axle & propeller shaft market in 2015.
Purpose of automotive axle is to transfer the driving torque from the differential to the vehicle's driving wheels whereas propeller shaft transfer the torque from gearbox to differential. Propeller shafts are widely used in vehicles where the distance between engine and differential is large. Increase in production of vehicles and increasing demand for comfort while driving the vehicle boosts the market growth. However, volatile prices of raw material used for manufacturing axle & propeller shaft such as steel, aluminum, and alloy of carbon restrain the market growth. Irrespective of these challenges, increase in demand for fuel efficient vehicle is expected to provide opportunity for the key market players in this market to provide low cost and fuel efficient components. Increase in adoption of all wheel drive (AWD) vehicles mostly in North America and Europe has further spurred the demand for axles and propeller shafts.
Asia-Pacific accounted for the majority of revenue in 2015 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increased adoption of electric vehicle and increase in sales of vehicles in the developing countries, such as China, India, Singapore, and Malaysia.
- Rolls-Royce plc
- MAN Diesel & Turbo
- Hyundai Heavy Industries Co., Ltd
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Mecklenburger Metallguss GmbH
- VEEM LTD.
- SCHAFFRAN PROPELLER + SERVICE GMBH
- NAKASHIMA PROPELLER Co., Ltd.
- Caterpillar Inc.
- Kawasaki Heavy Industries, Ltd.
- Changzhou Chonghai Marine Propeller Co.,Ltd
- Teignbridge Propellers International Limited
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Marine Propeller Market, By Propeller Type
Chapter 5 Marine Propeller Market, By Ship Type
Chapter 6 Global Marine Propeller Market, By Region
Chapter 7 Related Industry Insights
Chapter 8 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/gwb7df/marine_propeller