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.
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Top Companies Analyzed for Marine Propeller Market are –
- Financial Highlights
- Hyundai Heavy Industries
- Man SE
- Kawasaki Heavy Industries
- Brunswick, Volvo
- Nakashima Propeller
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Based on type, the propellers segment is estimated to lead the marine propeller market in 2017.Propellersare an essential component of naval vessels, as they generate adequate thrust to propel the vessel. They are made of different alloys.
The selection of propeller type and number of blades are dependent on the type of ship, wherein these systems are installed.
Based on application, the merchant ships segment is estimated to lead the marine propeller market in 2017. The demand for merchant ships to transport commodities worldwide is driving the growth of the merchant ships segment.
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According to the International Chamber of Shipping (ICS), there are over 50,000 merchant ships that transport cargos, internationally.
The marine propeller in Europe is expected to witness the highest growth from 2017 to 2022. Russia, France, the UK, Turkey, Norway, Italy, and Germany are key countries considered for market analysis in the European region.
The presence of leading market players, such as Michigan Marine Propulsion International (UK), Bruntons Propellers (UK), and CJR Propulsion (UK),in this region has contributed to the growth of the marine propeller market in Europe.
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- Manufacturers of Marine Propellers
- Component Manufacturers of Marine Propellers
- Government and Certification Bodies
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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). These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia, and RoW (Rest of the World).
The report provides in-depth market intelligence regarding key factors influencing the growth of the marine propeller market (drivers, restraints, opportunities, and industry-specific challenges). It analyzes micro markets with respect to individual growth trends, prospects, and their contribution to the marine propeller market.
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