The Global Marine Thrusters Market size is projected to grow from USD 1.4 billion in 2021 to USD X.X billion by 2028, at a CAGR of 7%. Major factors driving the growth of the marine thrusters market are increasing offshore rigs and ships globally, continuous development of new technologies for the propulsion system,s and increasing investment in renewable energy sources such as wind power plants.
Marine thrusters are devices used to generate thrust and propel a vessel through the water. There are different types of marine thrusters, including controllable pitch propellers (CPP) and fixed pitch propellers (FPP). Marine thrusters are commonly used on offshore rigs, ships, and other vessels. Marine thrusters are propulsion devices used on ships, submarines, and offshore platforms for the purpose of moving them through the water. Like any other mechanical unit, marine thrusters need to be regularly serviced to remain efficient in their performance. Unlike traditional propellers which have a 360-degree rotation arc, they can rotate between 0 degrees (no movement) and 180 degrees, making them a preferred choice for ships to change the direction of their movement. This is necessary when they need to dock in tight spaces or turn sharply on open water.
On the basis of Type, the global marine thrusters market is segmented into, Controllable Pitch Propeller (CPP), Fixed Pitch Propeller (FPP).
A controllable pitch propeller is a type of marine propulsion system that uses the pitch difference between the blades to create both speed and torque. The device has two sets of fixed pitched blades, one being stationary while another set attached to a rotating shaft is what determines its ability to change blade angles. This allows it to be used in either forward or reverse. The CPP can provide higher propulsive efficiency by optimization of blade angle, which consequently reduces fuel consumption and emissions.
FPP is a type of marine propulsion system that uses one or more blades to push the water in the opposite direction. The blades are set at an angle, this means that it can be fixed in position and does not rotate like CPPs. This allows for fewer moving parts which makes them easier to maintain when compared with CPPs. FPPs are commonly used in smaller vessels as they do not require a lot of power to operate. FPPs are also more fuel-efficient, making them a popular choice for many vessel operators. They are also cheaper to manufacture, which can be another contributing factor when it comes to choosing this type of propulsion system.
On the basis of Application, the global marine thrusters market is segmented into Offshore Rigs, Ships, and Others.
Offshore rigs are used in the exploration and production of oil and gas reserves from offshore areas. Marine thrusters play an important role in the efficient functioning of these rigs by helping them to maintain their position at sea. The installation and operation of marine thrusters on offshore rigs is a complex process that requires careful planning and execution. The type of thruster and its location on the rig must be carefully selected to ensure that it can meet the specific requirements of the application.
Marine thrusters are used in ships to provide vessels' main source of propulsion. They convert propellers power into thrust and propel the ship forward, backward, or sideways as required for its movement. Marine thrusters are also known as propulsors. CPP thrusters are mounted in a pod below the hull of the ship. They can be rotated to change the direction of thrust and so control the ship's direction. FPP thrusters are fixed in place on the hull but can still rotate around their vertical axis, allowing them to move forwards or backward without changing course.
On the basis of Region, the global marine thrusters market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead the global marine thrusters market in terms of revenue during the forecast period. The growth of the North American market can be attributed to the increasing demand for advanced maritime technology and equipment from countries such as the U.S., Canada, and Mexico.
The Asia Pacific marine thrusters market is expected to grow at a significant rate during the forecast period. The major factor contributing towards this growth can be attributed to the rise in investments made by various countries, such as Japan and China for the modernization of their maritime technology & equipment. There are around 80% of marine vessels that have been equipped with a pair of thrusters in Latin America. In terms of CPP, the use is at 40%, while FPP has stood at 30%. The marine thrusters market in Latin America is driven by the growing demand for vessels with reduced fuel consumption. Furthermore, Latin America is anticipated to witness high growth rates in countries such as Brazil and Mexico.
The growth of the global marine thrusters market can be attributed to various factors, such as the increase in demand for maritime transportation and the rise in the number of cruise ships. Furthermore, the growth of the oil and gas industry is expected to propel the demand for marine thrusters over the forecast period. The increasing popularity of yachts and other recreational vessels is also expected to boost the demand for marine thrusters.
Up Market Research published a new report titled “Marine Thrusters Market research report which is segmented by Types (Controllable Pitch Propeller (CPP), Fixed Pitch Propeller (FPP)), By Applications (Offshore Rigs, Ships, Others), By Players/Companies Wartsila, Rolls-royce, Schottel, Caterpillar Propulsion, Hundested, Kawasaki H I Marine, ZF (HRP), Brunvoll, Masson Marine, Nakashima, Hyundai Heavy Industries, MMG, DMPC, Voith, Thrustmaster, Veth, Hi-Sea Marine, SMMC Marine Drive Systems”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Marine Thrusters Market Research Report |
By Type | Controllable Pitch Propeller (CPP), Fixed Pitch Propeller (FPP) |
By Application | Offshore Rigs, Ships, Others |
By Companies | Wartsila, Rolls-royce, Schottel, Caterpillar Propulsion, Hundested, Kawasaki H I Marine, ZF (HRP), Brunvoll, Masson Marine, Nakashima, Hyundai Heavy Industries, MMG, DMPC, Voith, Thrustmaster, Veth, Hi-Sea Marine, SMMC Marine Drive Systems |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 224 |
Number of Tables & Figures | 157 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Controllable Pitch Propeller (CPP), Fixed Pitch Propeller (FPP) and By Application Offshore Rigs, Ships, Others.
Some of the companies that are profiled in this report are:
Marine Thrusters Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Marine Thrusters Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Marine Thrusters Market Report:
Some other reports from this category!