Global Marine Thrusters Market by Type (Controllable Pitch Propeller (CPP), Fixed Pitch Propeller (FPP)), By Application (Offshore Rigs, Ships, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
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).
Controllable Pitch Propeller (CPP):
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.
Fixed Pitch Propeller (FPP):
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:
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.
Ships:
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.
Growth Factors For The Global Marine Thrusters Market:
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 Scope
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.
Global Marine Thrusters Market Report Segments:
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:
- 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
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:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Marine Thrusters Market
Overview of the regional outlook of the Marine Thrusters Market:
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.
Highlights of The Marine Thrusters Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Marine Thrusters Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Controllable Pitch Propeller (CPP)
2. Fixed Pitch Propeller (FPP)
7. By Application:1. Offshore Rigs
2. Ships
3. Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
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:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Marine Thrusters Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Thrusters Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine Thrusters Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Thrusters Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine Thrusters Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine Thrusters Market Size & Forecast, 2018-2028
4.5.1 Marine Thrusters Market Size and Y-o-Y Growth
4.5.2 Marine Thrusters Market Absolute $ Opportunity
Chapter 5 Global Marine Thrusters Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Marine Thrusters Market Size Forecast by Type
5.2.1 Controllable Pitch Propeller (CPP)
5.2.2 Fixed Pitch Propeller (FPP)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine Thrusters Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Marine Thrusters Market Size Forecast by Applications
6.2.1 Offshore Rigs
6.2.2 Ships
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Thrusters Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine Thrusters Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Marine Thrusters Analysis and Forecast
9.1 Introduction
9.2 North America Marine Thrusters Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Marine Thrusters Market Size Forecast by Type
9.6.1 Controllable Pitch Propeller (CPP)
9.6.2 Fixed Pitch Propeller (FPP)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Marine Thrusters Market Size Forecast by Applications
9.10.1 Offshore Rigs
9.10.2 Ships
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Marine Thrusters Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Thrusters Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Marine Thrusters Market Size Forecast by Type
10.6.1 Controllable Pitch Propeller (CPP)
10.6.2 Fixed Pitch Propeller (FPP)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Marine Thrusters Market Size Forecast by Applications
10.10.1 Offshore Rigs
10.10.2 Ships
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Marine Thrusters Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Thrusters Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Marine Thrusters Market Size Forecast by Type
11.6.1 Controllable Pitch Propeller (CPP)
11.6.2 Fixed Pitch Propeller (FPP)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Marine Thrusters Market Size Forecast by Applications
11.10.1 Offshore Rigs
11.10.2 Ships
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Marine Thrusters Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Thrusters Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Marine Thrusters Market Size Forecast by Type
12.6.1 Controllable Pitch Propeller (CPP)
12.6.2 Fixed Pitch Propeller (FPP)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Marine Thrusters Market Size Forecast by Applications
12.10.1 Offshore Rigs
12.10.2 Ships
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Marine Thrusters Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Thrusters Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Marine Thrusters Market Size Forecast by Type
13.6.1 Controllable Pitch Propeller (CPP)
13.6.2 Fixed Pitch Propeller (FPP)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Marine Thrusters Market Size Forecast by Applications
13.10.1 Offshore Rigs
13.10.2 Ships
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine Thrusters Market: Competitive Dashboard
14.2 Global Marine Thrusters Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Wartsila
14.3.2 Rolls-royce
14.3.3 Schottel
14.3.4 Caterpillar Propulsion
14.3.5 Hundested
14.3.6 Kawasaki H I Marine
14.3.7 ZF (HRP)
14.3.8 Brunvoll
14.3.9 Masson Marine
14.3.10 Nakashima
14.3.11 Hyundai Heavy Industries
14.3.12 MMG
14.3.13 DMPC
14.3.14 Voith
14.3.15 Thrustmaster
14.3.16 Veth
14.3.17 Hi-Sea Marine
14.3.18 SMMC Marine Drive Systems