30-Sep-2021 | Zion Market Research
Major companies in marine propeller market are Rolls-Royce Holdings, Man ES Corporation, Mitsubishi Heavy Industries Ltd., Caterpillar Inc., Hyundai Heavy Industries Co. Ltd, Nakashima Propeller, Kawasaki Heavy Industries, Wartsila, Brunswick Corporation, Volvo and Mercury Marine amongst others. These players are set to bolster the development of global marine propellers market.
According to analysts at Zion Market Research, the global marine propeller market accounted for more than in USD 4,917.8 million 2020 and is expected to reach more than USD 5,823.3 million by 2028, growing at a CAGR 2.4% of from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Marine Propeller Market By Type (Controllable Pitch Propeller, Fixed Pitch Propeller , Ducted Propeller And Others) By Number Of Blades (3-Blade, 4-Blade, 5-Blade And Others), By Propulsion (Inboard, Outboard, Sterndrive And Others) By Material (Stainless Steel, Aluminium, Bronze, Nickel, Aluminium Bronze And Others) By Application (Merchant Ships, Naval Ships, Recreational Boats, Cargo Or Container Ships, Bulk Carrier, Offshore Vessel, Passenger Ship And Others), By End User (OEM And Aftermarket) And By Region: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.”
Growing International Marine Trade To Spur Growth
“The upsurge in international marine trade and water-based activities will garner the growth for marine propeller market in the years ahead,” says the author of this study. Apart from this, Increased defence expenditure by the nations is the main reason that has driven the growth of the global market. In addition, large merchant fleet size is also driving the global market growth. Similarly, increased job opportunities are also powering the growth of the global marine propellers market. Adding one more to the list, subsequently increased demand for merchant shipbuilding is also driving the global market growth. The growth of shipping industry owing to rise in manufacturing activities are feeling the marine propellor market. The rising investments in development of seashore development and marine shipment by the leading economies is boosting the marine propellor market.
Growth Of Shipbuilding Industries Support Asia-Pacific Growth
Regionally, Asia-Pacific has been one of leading the worldwide marine propellers market and is anticipated to continue to grow in the years to come, states the marine propeller market study. to the growth of shipbuilding industries in countries like China and South Korea. The international brand in these countries is forming joint ventures for development of shipbuilding industry. The rise in marine trading owing to development of manufacturing industry is fuelling the market demand. The growth manufacturing industry is leading intensive need for cost effective transport of raw material. The increase in marine trade of crude oil from middle east countries to Asia-Pacific is contributing to rise in Asia-Pacific trade.
Browse the full “Marine Propeller Market By Type (Controllable Pitch Propeller, Fixed Pitch Propeller , Ducted Propeller And Others) By Number Of Blades (3-Blade, 4-Blade, 5-Blade And Others), By Propulsion (Inboard, Outboard, Sterndrive And Others) By Material (Stainless Steel, Aluminum, Bronze, Nickel, Aluminum Bronze And Others) By Application (Merchant Ships, Naval Ships, Recreational Boats, Cargo Or Container Ships, Bulk Carrier, Offshore Vessel, Passenger Ship And Others), By End User (OEM And Aftermarket) And By Region: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/marine-propellers-market
The global marine propeller market is segmented as follows:
By Number Of Blades
By End User
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