Market Size of China Controllable Pitch Marine Propeller Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.93 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Controllable Pitch Marine Propeller Market Analysis
The Chinese controllable pitch marine propeller market was valued at USD 415.97 million in 2021 and is expected to reach USD 607.21 million in 2027 by registering a CAGR of 5.93% during the forecast period (2022 - 2027).
In 2020, the COVID-19 pandemic hindered the growth of the controllable pitch marine propeller market in China as the shipbuilding activities were on halt due to lockdown measures and a halt in international maritime transportation. However, since the second half of 2020, as the international logistics activities started to become normal, the demand for ships and vessels witnessed an increase, driving the demand for marine propellers.
With that, the global logistic industry is gaining back its pace, which will increase marine transportation, for it is a relatively budget-friendly way to transport goods and parcels. Alongside, maritime tourism is also on the rise, which will further drive the demand for various ships.
As China is the world's largest shipbuilder, the Chinese controllable pitch marine propeller market is anticipated to witness significant growth during the forecast period. For instance, in 2021, China accounted for a 43.1% global share in the number of orders delivered and 48.8% of the global orders.
The Chinese controllable pitch marine propeller market is fairly consolidated. Some of the major players include Wartsila Oyj Abp, UC Marine (China) Company Limited, MAN Energy Solutions SE, and Hyundai.
