The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Marine Propeller Market.

It was estimated prior to this unanticipated outbreak that the Marine Propeller Market will grow 4.2% CAGR. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

For a more detailed breakdown of the COVID-19 impact on the Marine Propeller Market, request a free sample of the report here: https://www.stratviewresearch.com/Request-Sample/795/marine-propeller-market.html

Marine Propeller Market Segment Analysis:

Based on the application type, the market is segmented as merchant ships, naval ships, recreational boats, and others. The merchant ships segment is expected to witness the highest growth during the forecast period. The growth of the segment can be attributed to the growing demand for imported goods. The International Chamber of Shipping (ICS) estimates, more than 50,000 merchant ships are engaged in transporting cargos internationally. In addition, as per the United Nations Conference on Trade and Development (UNCTAD), the Greek merchant fleet is considered to be the largest, globally encompassing 4,017 ships; it accounts for over 16% share of the world’s total tonnage. 

Based on the number of blades type, the market is segmented as 3-blade, 4-blade, 5-blade, and others. The 5-blade segment is likely to register the highest growth during the forecast period, owing to the fact that 5-blade propellers offer improved propulsion efficiency and deliver lesser vibration as compared to 4-blade propellers. 

Based on the end-user type, the market is segmented as OEM and aftermarket. The OEM segment is estimated to depict a higher growth in the coming five years. The market is driven by increased expenditure on shipbuilding activities by different regions globally. Further, OEMs offer line-fit and retrofit options, thereby saving the frivolous wastage of time, otherwise consumed in the installation of marine components post their delivery.  

Based on the propulsion type, the market is segmented as inboard, outboard, sterndrive, and others. The sterndrive segment is estimated to portray the highest growth during the forecast period. The growth of the segment is owing to the growing demand for ships equipped with sterndrive propulsion systems. These systems incorporate an outboard unit that is attached to the inboard gas or diesel engine located at the rear of the boat. 

In terms of regions, the marine propeller market in Europe is estimated to witness the highest growth during the forecast period. The market is driven by the European shipbuilding industry, which is engaged in the construction of intricate naval vessels, such as ferries, cruise ships, mega yachts, dredgers (offshore vessels), and submarines. Further, the European marine equipment industry offers a plethora of products that comprise diesel engines, propulsion systems, cargo handling systems, environmental safety systems, and related electronics. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Some of the major players in the marine propeller market are Brunswick, Caterpillar, Kawasaki Heavy Industries, Man SE, Nakashima Propeller, Rolls-Royce, Schottel, Volvo, and Wartsila. 

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

Based on the research, a proper report is crafted with the following key features:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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