Leading players in the marine propeller market include Caterpillar (US), Hyundai Heavy Industries (South Korea), MAN SE (Germany), Rolls-Royce (UK), and Wartsila (Finland), among others. Contracts and agreements are key development strategies that collaboratively accounted for more than one-third share of all developments between 2013 and 2017.
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The marine propeller market is estimated to be USD 4.73 Billion in 2017 and is projected to reach USD 5.37 Billion by 2022, at a CAGR of 2.56% from 2017 to 2022. The objective of this study is to analyze, define, describe, and forecast the marine propeller market based on type, application, material, end user, propulsion, number of blades, and region.
The report also focuses on providing a competitive landscape of this market by profiling companies based on their financial positions, product portfolios, and growth strategies as well as analyzing their core competencies and market share to anticipate the degree of competition prevailing in the market.
2 Ecosystem of the Marine Propeller Market
3 Technological Trends
4 Fuel Efficient Propulsion Systems
5 Advanced Materials
6 Anti-Fouling Coatings
7 Strategic Benchmarking
8 Innovations & Patent Registrations
9 Regulatory Bodies Across Various Regions
The research methodology used to estimate and forecast the size of the marine propeller market began with capturing data on key vendor revenues. Secondary sources referred for this study included annual reports, Yahoo Finance, European Aviation Safety Agency, United Nations Conference on Trade and Development (UNCTAD), and press releases.
The bottom-up procedure was employed to arrive at the overall size of the marine propeller market by determining the revenue of key market players.
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The marine propeller market has been segmented on the basis of type, application, material, number of blades, end user, propulsion, and region. Rolls-Royce (UK), Wartsila (Finland), Hyundai Heavy Industries (South Korea), MAN SE (Germany), and Caterpillar (US) are key manufacturers of marine propellers.
Contracts, new product launches/developments, agreements, and acquisitions are major strategies adopted by key players in the marine propeller market.
Target Audience for this Report
- Manufacturers of Marine Propellers
- Component Manufacturers of Marine Propellers
- Government and Certification Bodies
The research study segments the marine propeller market based on type (propellers, thrusters, and others), application (merchant ships, naval ships, recreational boats, and others), number of blades (3-blade, 4-blade, 5-blade, and others), end user (OEM and aftermarket), propulsion (inboard, outboard, sterndrive, and others), and material (stainless steel, aluminium, bronze, nickel-aluminium bronze, and others).
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The marine propeller market is anticipated to witness significant growth in the near future, primarily driven by growth in international seaborne trade and increased demand for marine propellers from the new shipbuilding & repair market. Increased navy budgets worldwide, rise in usage of inland waterways, and technological innovations in marine propulsion systems are key opportunities of the market.
However, factors such as stringent environmental regulations and accident caused by propellers are restraining the growth of the market. Fluctuation in oil prices, shipping overcapacity, and low freight rates are key challenges of the market.
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