Global Marine Propeller Market Report to 2030 - Technological Innovations in Marine Application Systems Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Marine Propeller Market by Propeller Type (Fixed Pitch Propeller and Controllable Pitch Propeller, and Others), Application, Number of Blades, Application, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the global marine propeller market was valued at $5.07 billion in 2020, and is projected to reach $8.52 billion by 2030, registering a CAGR of 5.5% from 2021 to 2030.

A Marine propeller is utilized for generation of thrust in order to move a ship. A Marine propeller comprises of several blades mounted on end of a drive shaft. Propellers can be made of different materials such as bronze, aluminum and steel. Moreover, a ship can be equipped with one, two and rarely three propellers depending upon requirement of vessels or ships.

A controllable pitch propeller or variable pitch propeller is one of the most advanced propellers in the shipbuilding industry. It can move its blade in the desired position by changing the pitch of the blades during the ship operation. It can move ships in the forward and astern direction both, without changing the direction of rotation of the engine. The factors that drive the controllable pitch propeller market are its superiority such as higher propulsion efficiency, better manoeuvrability, less wear & tear of blades, and significant NVH performance as compared to others. Moreover, rise in the number of large ships such as cargo or containers, bulk carriers, and tankers have further fueled the market growth.

The market is driven by 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. However, high maintenance cost and introduction of stringent environmental regulations are the factors acting as a hindrance in the growth of the marine propeller market. On Contrary, technological innovations in marine propulsion systems and growth in navy expenditure across the world are expected to create ample growth opportunities for the marine propeller market.

The report segments the global marine propeller market on the basis of type, material, number of blades, application, sales channel, and region. On the basis of type, the market is categorized into fixed pitch propeller (FPP), controllable pitch propeller (CPP), and others. The material segment is divided into aluminum, stainless steel, and others. Depending on number of blades, it is classified into 3 blades, 4 blades, 5 blades, and others. According to application, it is fragmented into merchant ships, naval ships, recreational boats, and others. By sales channel, it is bifurcated into original equipment manufacturer and aftermarket. Moreover, it summarizes the details about revenue generated across regions such as North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• This study presents the analytical depiction of the global marine propeller market analysis along with the current trends and future estimations to depict imminent investment pockets
• The overall marine propeller market opportunity is determined by understanding profitable trends to gain a stronger foothold
• The report presents information related to the key drivers, restraints, and opportunities of the global marine propeller market with a detailed impact analysis
• The current marine propeller market is quantitatively analyzed from 2020 to 2030 to benchmark financial competency
• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry

Market Dynamics

Drivers

• Greater Adoption of Electric Application Technology
• Increase in New Shipbuilding & Repair Activities
• Greater Demand for Sea-Based Logistics & Trade
• Growth in Demand for Maritime Travel & Tourism Activities

Restraints

• High Maintenance Cost
• Introduction of Stringent Environmental Regulations

Opportunities

• Technological Innovations in Marine Application Systems
• Growth in Navy Expenditure Across the World

Key Market Segments

By Type

• Fixed Pitch Propeller (FPP)
• Controllable Pitch Propeller (CPP)
• Others

By Material

• Aluminum
• Stainless Steel
• Others

By Number of Blades

• 3 Blades
• 4 Blades
• 5 Blades
• Others

By Application

• Merchant Ships
• Naval Ships
• Recreational Boats
• Others

By Sales Channel

• Original Equipment Manufacturer
• Aftermarket

By Region

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Russia
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key 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

For more information about this report visit https://www.researchandmarkets.com/r/v64god