Marine Propeller Market Growth Steady at 2.56% CAGR to 2022 led by Europe - RnRMarketResearch
PUNE, India, November 7, 2017 /PRNewswire/ --
The marine propeller market size will reach $5.37 billion by 2022 from $4.73 billion in 2017 at a CAGR of 2.56% during (2017-2022) driven by the growth in international seaborne trade, increased demand for marine propellers from the new shipbuilding & repair market, and growth in maritime tourism.
Browse 140 Market Data Tables and 55 Figures spread through 176 Pages and in-depth TOC on "Marine Propeller Market by Type (Propellers, Thrusters), Application (Merchant Ships, Naval Ships, Boats), Material (Stainless Steel, Aluminium, Bronze, Nickel-Aluminium Bronze), End User, Propulsion, Number of Blades, Region - Global Forecast to 2022" http://www.rnrmarketresearch.com/marine-propellers-market-by-number-of-blades-3-4-5-type-controllable-pitch-propeller-and-fixed-pitch-propeller-application-ship-defense-and-merchant-boat-inboard-engine-and-outboard-engine-market-report.html .
The marine propeller market in Europe is projected to grow at the highest CAGR during the forecast period. The marine propeller in Europe is expected to witness the highest growth from 2017 to 2022. Russia, France, the UK, Turkey, Norway, Italy, and Germany are key countries considered for market analysis in the European region. The presence of leading market players, such as Michigan Marine Propulsion International (UK), Bruntons Propellers (UK), and CJR Propulsion (UK), in this region has contributed to the growth of the marine propeller market in Europe.
The major players operating in the marine propeller market include Rolls-Royce (UK), Wartsila (Finland), Hyundai Heavy Industries (South Korea), MAN SE (Germany), and Caterpillar (US).
Based on end user, the OEM segment is estimated to lead the marine propeller market in 2017. Original Equipment Manufacturers (OEMs) offer line-fit and retrofit options, thereby saving the time consumed in the installation of marine components post their delivery. Prominent OEMs in the marine propeller market include Man SE (Germany), Rolls-Royce (UK), and Wartsila (Finland).
Make an Inquiry on Marine Propeller Market Global Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=368687 .
Based on type, the propellers segment is estimated to lead the marine propeller market in 2017. Propellers are an essential component of naval vessels, as they generate adequate thrust to propel the vessel. They are made of different alloys. The selection of propeller type and number of blades are dependent on the type of ship, wherein these systems are installed.
Based on application, the merchant ships segment is estimated to lead the marine propeller market in 2017. The demand for merchant ships to transport commodities worldwide is driving the growth of the merchant ships segment. According to the International Chamber of Shipping (ICS), there are over 50,000 merchant ships that transport cargos, internationally.
Based on number of blades, the 4-blade segment is estimated to lead the marine propeller market in 2017. 4-blade propellers offer improved propulsion efficiency and have less vibration as compared to 3-blade propellers. Moreover, 4-blade propellers are highly efficient and attain greater speed as compared to 3-blade propellers.
Inquire for Discount on "Marine Propeller Market Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/discount?rname=368687 .
Based on propulsion, the stern drive segment is estimated to lead the marine propeller market in 2017. The growth of the stern drive segment can be attributed to the increased demand for stern drive propulsion systems from the shipbuilding industry.
The research study segments the marine propeller market based on type, application, and number of blades, end user, propulsion, and material. These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia, and RoW (Rest of the World). The report provides in-depth market intelligence regarding key factors influencing the growth of the marine propeller market (drivers, restraints, opportunities, and industry-specific challenges). It analyzes micro markets with respect to individual growth trends, prospects, and their contribution to the marine propeller market.
Break-up of profile of primary participants for this report:
- By Company Type: Tier 1 - 55%, Tier 2 - 25% and Tier 3 - 20%
- By Designation: C Level - 75% and Director Level - 25%
- By Region: Asia - 45%, Europe - 30%, North America - 20% and RoW - 5%
Another research titled Inertial Navigation System Market Global Forecast to 2022 says, the inertial navigation system market is projected to grow from an estimated $9.54 billion in 2017 to $12.26 billion by 2022, at a CAGR of 5.15% during the forecast period. Based on application, the missile segment is projected to account for the largest share in the inertial navigation system market during the forecast period. North America is estimated to account for the largest share in the inertial navigation system market in 2017 and the Asia Pacific is projected to grow at the highest CAGR during the forecast period. Companies such as Honeywell International Inc. (US), Northrop Grumman Corporation (US), Safran Electronics & Defense (France), Thales Group (France), The Raytheon Company (US), General Electric Company (US), Rockwell Collins Inc. (US), Teledyne Technologies Inc. (US), VectroNav Technologies LLC. (US), LORD MicroStrain (US), Trimble Navigation Ltd. (US) have been profiled in this 162 pages research report available at http://www.rnrmarketresearch.com/inertial-navigation-system-market-by-product-marine-grade-navigation-grade-tactical-grade-and-commercial-grade-by-technology-mechanical-fiber-optic-gyro-fog-ring-laser-gyro-rlg-micro-ele-market-report.html .
Explore more reports on Automotive & Transportation Market at http://www.rnrmarketresearch.com/reports/automotive-transportation .
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