Dublin, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The "Marine Propellers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Marine Propellers Market to Reach $7.5 Billion by 2030
The global market for Marine Propellers estimated at US$5.1 Billion in the year 2022, is projected to reach a revised size of US$7.5 Billion by 2030, growing at a CAGR of 5% over the analysis period 2022-2030. Propellers, one of the segments analyzed in the report, is projected to record 5.7% CAGR and reach US$4.3 Billion by the end of the analysis period. Growth in the Thrusters segment is estimated at 4.3% CAGR for the next 8-year period. 
This report provides insights into the leisure marine industry's challenges, with a focus on the impact of slumping sales of recreational boats, watercraft, and yachts.The competitive scenario of the marine propellers market is examined, with data on the global key competitors' percentage market share in 2022. The report also assesses the competitive market presence of players worldwide in 2022, categorizing them as strong, active, niche, or trivial in the market.
Global market prospects and outlook are discussed, with a focus on the potential rebound of the shipbuilding industry post-pandemic. Key challenges impacting industry growth are analyzed, along with a breakdown of the market by type, application, and region. The report provides percentage breakdowns of sales for propellers, thrusters, and other types, as well as for merchant ships, naval ships, recreational boats, and other applications.
Regional analysis is also provided, ranking geographic regions by compound annual growth rate (CAGR) for value sales in the marine propellers market for the period 2020-2027. China is expected to record strong growth in the controllable pitch marine propellers market.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 6% CAGR
The Marine Propellers market in the U.S. is estimated at US$1.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2030 trailing a CAGR of 6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 508 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.1 Billion |
| Forecasted Market Value (USD) by 2030 | $7.5 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- The Propeller of The Future
- Steady Growth in Seaborne Trade Volumes Drives Demand for Marine Propellers
- World Seaborne Trade: Total Volume of Goods Loaded in Billion Tons for the Years 2010 through 2020
- Seaborne Trade Outlook: Projected Seaborne Trade Volume in Billion Tons for the Years 2020, 2025, 2030 and 2035
- Rise in Number of Container Ships and Gas Carrier Marine Freight Worldwide: An Opportunity for the Market
- Shipbuilding Activity Trends Influence Dynamics of Marine Propellers Market
- Dual-Fuel Combustion Engines Suitable for Deep Sea Fleet
- Rising Commercial Maritime Activity: Opportunity Indicator for Marine Propellers for Merchant Ships
- World Seaborne Trade (in Billions of Cargo Ton Miles) for the Years 2015, 2017 and 2019
- Naval Ships, a Dominant Application Segment: Geopolitical Conflicts & Quest for Military Supremacy Widen the Business Case
- Healthy Defense Spending to Amplify the Need for Naval Ship Propellers: Projected Defense Budget (In US$ Billion) for the Years 2019, 2021 and 2023
- Pandemic Affects the Military & Defense Sector
- Global Defense & Related Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Military Expenditure as a % of GDP in Select Countries
- Rising Naval Ship Orders Bodes Well for the Naval Ship Propeller Market
- Rise of Recreational Boating as a Hobby Spurs Opportunities for Growth in the Propellers Market
- Global % Share Breakdown of Boat Fleets in Operation by Type for the Year 2020
- World Cruise Passengers (in Millions) for the Years 2010, 2015 and 2019-2021E
- Easing of Restrictions Witness a Quick Recovery of Recreational Boating Bringing Hope & Cheer for the Propeller Industry
- Increased Indulgence in Boating Pleasure Opens New Growth Avenues for Boat Manufacturing, Parts/Components: Global Spending on Leisure Boats (In US$ Million) for Years 2020, 2023 & 2026
- Expected Growth in Demand for Superyachts Post Pandemic to Benefit Boat Manufacturing Activities
- Expected Gains in Yacht Building to Benefit OE Suppliers of Propeller Systems: Global Number of Superyachts 100 FT or Larger (In Units) for Years 2017, 2019, 2022 & 2024
- High Net Worth Individuals: A Key Customer Class
- Breakdown of Ownership of Yachts by Length: 2019
- Geographic Localization of Ultra High Net Worth Individuals: 2019
- Robust International Trade in Fisheries to Push Demand for Fishing Boats
- Rising Seafood Consumption Brings a String of Opportunities for Commercial Open Catch Fishing Equipment Including Boats: Global Per Capita Fish Consumption (in Kg Per Person) by Region for 2020 & 2027
- Focus on Modernizing Aging Fishing Boats & Expanding Fishing Fleets to Benefit All in the Boat Manufacturing Value Chain including Propellers
- Aging Fishing Boats Trigger Replacement Demand, Bringing in the Promise of Higher New Manufacturing Orders: Average Age of Fishing Boats & Vessels Worldwide (In Years) As of the Year 2020
- Select Boat Propellers Ruling the Roost in the Market
FOCUS ON SELECT PLAYERS(Total 127 Featured)
- Kawasaki Heavy Industries Ltd.
- Hyundai Heavy Industries Co., Ltd.
- Andritz AG
- AB Volvo
- Kongsberg Gruppen ASA
- Brunswick Corporation
- Engtek (Pte) Limited
- Mercury Marine
- Kahlenberg Industries, Inc.
- MAN Energy Solutions SE
- Masson Marine SAS
- Mecklenburger Metallguss GmbH
- Epropulsion Innovation (Hk) Limited
- Jastram Engineering Ltd.
- Cala Del Forte
For more information about this report visit https://www.researchandmarkets.com/r/gvxmvi
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