Global Marine Propeller Market is Estimated to Reach $5.7 Billion by 2025, Says Accurize Market Research
Global Marine Propeller Market report published by Accurize Market Research forecast that the global market is expected to reach $5.7 billion by 2025; growing at a CAGR of 2.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Growth in global seaborne trade and ongoing worldwide investments by government in the shipbuilding industry drive the growth of the market
Growth in global seaborne trade and ongoing worldwide investments by government in the shipbuilding industry and inland waterways fuels the demand for the global marine propeller market. Furthermore, increasing navy budgets worldwide and technical advancement in marine propulsion system also boost the growth of the market.
Market Segmentation
The global marine propeller market has been bifurcated on the basis of material, type, number of plates, propulsion, application, end user and geography. The material type segment is segmented into stainless steel, aluminium, bronze, nickel-aluminium bronze and other materials. By type, the market is segmented as propeller, thrusters and other types. 3-blades, 4-blades, 5-blades and other numbers of blades are the bifurcation of number of blade segment. Propulsion is categorized into inboard, outboard, sterndrive and other propulsions. Merchant ships, naval ships, recreational boats and other applications are covered under application segment. Further, end user segment is classified into OEM and aftermarket.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa.
Top players in the market
The key market players include Mitsubishi Heavy Industries, Ltd., Rolls-Royce plc, MAN Diesel & Turbo, Caterpillar Inc., Hyundai Heavy Industries Co., Ltd., Changzhou ChonghaiMarine Propeller Co., Ltd, MecklenburgerMetallgussGmbH, Nakashima Propeller Co., Ltd., Kawasaki Heavy Industries, Ltd., and Teignbridge Propellers International Limited, among others.
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