Marine Propeller Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The marine propeller market is segmented by Propeller Type (Fixed Pitch Propeller, Controllable Pitch Propeller and Others), by Number of Blade (3 Blade, 4 Blade, 5 Blade, Others), by Application (Passenger Vessels and Commercial/Cargo Vessels) and by Geography.

Market Snapshot

Marine Propeller Market_Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Europe
Largest Market: Asia Pacific
CAGR: >6 %

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Market Overview

The global marine propeller market is expected to register a CAGR of over 6.0%, during the forecast period, 2020-2025.

  • With growing international seaborne trade, new shipbuilding and repair market, and increasing maritime tourism are some of the primary factors that are driving the market growth.
  • Additionally, with growing technology and innovations in marine industry, the advent of highly advanced and energy- efficient marine propulsion system has resulted in maximum output with minimum fuel consumption. Thus, the design, material and operating efficiency have been the major aspect areas where the buyers have been majorly concerned about.
  • Asia-Pacific continues to lead the market owing to its high shipbuilding and seaborne trade activities, especially in the regions of China and South Korea.

· However, fluctuations in government policies, regulations and subsidies from region to region are likely to influence the global marine industry growth, which would eventually impact the marine propeller market during the forecast period.

Scope of the Report

A marine propeller contains rotating blades and produce thrust through these rotating blades. It is made up of sections of helicoidal surfaces acting together to rotate through the water with a screw effect. The number of blades in propeller decides the speed of ship. The more the blades present in the propeller the more is the speed. However, the decisions concerning number of blades in the marine propeller are influenced to a great extent by the need to minimize the vibration caused in the propeller.

The marine propeller market study has been segmented by Propeller Type, by Number of Blade, by Application and Geography.

By Propeller Type
Fixed Pitch Propeller
Controllable Pitch Propeller
Others
By Number of Blades
3 Blades
4 Blades
5 Blades
Others
By Application
Passenger Vessels
Commercial/Cargo Vessels
Geography
North America
Europe
Asia Pacific
South America
Middle East & Africa

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Key Market Trends

Fixed Pitch Propeller Continue to Witness Growth

Fixed pitch propeller blades are permanently attached to the hub. The fixed pitch type propellers are generally casted and hence the position of the pitch is permanently fixed and cannot be changed during the operation. These have been normally made from copper alloy.

Fixed pitch propellers have been identified as the robust and reliable as the system doesn’t incorporate any mechanical and hydraulic connection as in Controlled Pitch Propeller. The other benefits such as manufacturing, installation and operational costs are lower than controlled pitch propeller type.

However, the manoeuvrability of fixed-pitch propeller has not been as as good as controlled pitch propeller.

These types of propellers are fitted in a ship which does not have good manoeuvrability requirements.

Marine Propeller Market_trend1

Asia-Pacific is Likely to Lead the Market

Asia-Pacific continues to dominate marine propeller market, owing to increase in shipbuilding industries in China & South Korea and growth in number of joint ventures with international brands.

In recent years, China's shipbuilding industry has been rapidly strengthening. Compared with the world-class shipbuilding powerhouses, however, China's research and manufacturing capabilities in the field of high-tech and high value-added ships has been noticed insufficient, while the industry has excess manufacturing capacity. Thus, the companies in the country has been focusing on merging plans to operate as a big unit in order to capture the potential demand in the marine industry. For instance, China Shipbuilding Industry Corporation and China State Shipbuilding Corporation Limited merged into one corporation. This reorganized corporation has 147 scientific research institutes, enterprises and listed companies with total assets of CPY 790 billion (about USD 112.29 billion dollars) and 310,000 employees. It has the largest shipbuilding and repairing base in China and the most complete research and development capability in the field of shipping, allowing its marine equipment to meet the requirements of international technical standards and safety conventions.

Moreover, rise in seaborne trade of crude oil mostly from Middle East countries to Asia-Pacific is another factor that drives the Asia-Pacific marine propeller market.

Marine Propeller Market_Geography

Competitive Landscape

Some of the major players in the marine propeller market, includes Mecklenburger Metallguss GmbH (MMG), Wärtsilä Oyj Abp, MAN Energy Solutions, Hyundai Heavy Industries Co., Ltd, SCHOTTEL amongst others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Force's Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Propeller Type

      1. 5.1.1 Fixed Pitch Propeller

      2. 5.1.2 Controllable Pitch Propeller

      3. 5.1.3 Others

    2. 5.2 By Number of Blades

      1. 5.2.1 3 Blades

      2. 5.2.2 4 Blades

      3. 5.2.3 5 Blades

      4. 5.2.4 Others

    3. 5.3 By Application

      1. 5.3.1 Passenger Vessels

      2. 5.3.2 Commercial/Cargo Vessels

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia Pacific

      4. 5.4.4 South America

      5. 5.4.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share**

    2. 6.2 Company Profiles*

      1. 6.2.1 Kongsberg Gruppen

      2. 6.2.2 Wartsila Oyj Abp

      3. 6.2.3 MAN Energy Solutions

      4. 6.2.4 Hyundai Heavy Industries Co., Ltd

      5. 6.2.5 Mitsubishi Heavy Industries Ltd

      6. 6.2.6 Schottel

      7. 6.2.7 Mecklenburger Metallguss GmbH

      8. 6.2.8 Veem LTD.

      9. 6.2.9 Schaffran Propeller + Service GmbH

      10. 6.2.10 Nakashima Propeller Co., Ltd.

      11. 6.2.11 Brunswick Corporation (Mercury Marine)

      12. 6.2.12 Kawasaki Heavy Industries, Ltd

      13. 6.2.13 Changzhou Chonghai Marine Propeller Co.,Ltd

      14. 6.2.14 Teignbridge Propellers International Limited

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Marine Propeller Market market is studied from 2018 - 2026.

The Marine Propeller Market is growing at a CAGR of >6% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Mecklenburger Metallguss GmbH (MMG), Wärtsilä Oyj Abp, MAN Energy Solutions, Hyundai Heavy Industries Co., Ltd, SCHOTTEL are the major companies operating in Marine Propeller Market.

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