Marine propeller is a mechanical component used to move the ship or boat across the water using the power generated and transmitted by the main engine of the ship. Power generated by the engine is transferred to the propeller via propeller shaft, which may or may not be connected to a gearbox. Propeller is a rotating fan-like structure, which comprises of hubs and a number of blades, and create pulling power by moving water backward or creating a column of water behind it.
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A pressure difference is created between the forward and rear surface of the blades due to that water is accelerated behind the blade. The marine propeller market is expected to witness robust growth during the forecast period. This is mainly due to various ongoing government investments in the shipbuilding industry and inland waterways. Ships may integrate with one or more than one propeller, depending on the size (gross tonnage) of the ship.
Growth in shipbuilding industry mostly in countries such as China, Japan, and South Korea majorly fuels the marine propeller market. In addition, rise in demand for resources such as coal, ore, and iron that leads to growth in international seaborne trade drives the market growth. However, stringent environmental rules & regulations, huge capital investment required for setting up new manufacturing facilities, and volatile raw material prices hamper the market growth.
The market is segmented based on propeller type, ship types, and geography. By propeller type the market is further divided into controllable pitch propeller, fixed pitch propeller, and others (adjusted bolted propeller and ducted propeller). By ship types, the market is categorized into cargo & container, tanker, bulk carrier, offshore vessel, passenger ship, and others (tugs and service ships). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Importantly, the research taps critical data about the niche segments, market share, size, and growth rate to offer business owners, field marketing executives, and stakeholders a competitive edge over others operating in the same industry. Deep dive into customer-focused aspects, including spending power, shifting customer preferences, and consumption patterns, further narrate a lot about the business processes in vogue and product utilization for the forecast period.
The major manufacturers covered in this report:
Rolls-Royce plc, Wrtsil, MAN Diesel & Turbo, Hyundai Heavy Industries Co., Ltd, MITSUBISHI HEAVY INDUSTRIES, LTD., SCHOTTEL, 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, and Teignbridge Propellers International Limited.
Scope of the Report:
The research on the Marine Propeller market concentrates on extracting valuable data on swelling investment pockets, significant growth opportunities, and major market vendors to help understand business owners what their competitors are doing best to stay ahead in the competition. The research also segments the Marine Propeller market on the basis of end user, product type, application, and demography for the forecast period 2014-2022. Detailed analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, which include charts, tables, and infographics.
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For more clarity on the real potential of the Marine Propeller market for the forecast period 2014–2022, the study provides vital intelligence on major opportunities, threats, and challenges posed by the industry. Additionally, a strong emphasis is laid on the weaknesses and strengths of a few prominent players operating in the same market. Quantitative assessment of the recent momentum brought about by events such as collaborations, acquisition and mergers, product launches and technology innovation empower product owners, as well as marketing professionals and business analysts make a profitable decision to reduce cost and increase their customer base.
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The research provides answers to the following key questions:
- What is the estimated growth rate of the market for the forecast period 2014–2022? What will be the market size during the estimated period?
- What are the key driving forces responsible for shaping the fate of the Marine Propeller market during the forecast period?
- Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Marine Propeller market?
- What are the prominent market trends influencing the development of the Marine Propeller market across different regions?
- What are the major threats and challenges likely to act as a barrier in the growth of the Marine Propeller market?
- What are the major opportunities the market leaders can rely on to gain success and profitability?
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