Market Overview:
The global retractable azimuth thruster market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for retractable azimuth thrusters in oil & gas and marine applications. Additionally, the growing demand for electric retractable azimuth thrusters is also contributing to the growth of this market. North America is expected to lead the global retractable azimuth thruster market during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
A retractable azimuth thruster is a type of propulsion system used on ships and boats. It is a small, propeller-driven device that can be retracted into the boat or ship when not in use. This helps to keep the deck clear and makes the vessel more streamlined for travel. The importance of a retractable azimuth thruster lies in its ability to provide extra power when needed, while also taking up minimal space on board.
Hydraulic:
A hydraulic azimuth thruster is a type of retractable land-based marine propulsion engine which uses hydraulic energy generated by the ship’s engines to provide directional control while underway. The system includes a set of hydranets mounted on an swivel mount, connected by cables to the shaft, and powered through electric motors.
Electric:
An electric azimuth thruster is a type of retractable wheel-based drive system. It uses an electric motor as a power source to propel the vehicle forward by means of four or more wheels, which are normally driven through gears. The propulsion force is applied to the rear wheels via a reduction in diameter (or increase) in the main shaft, which can be achieved by using differentials or torque converters.
Application Insights:
The oil & gas segment is expected to emerge as the fastest-growing application segment over the forecast period owing to rising demand for high efficiency and environmentally friendly technologies. The introduction of retraction drives has led to a significant reduction in operational costs, which makes it competitive with other energy sources such as diesel or gasoline.
The marine application segment accounted for a share of 15% in 2017 and is projected to grow at CAGR around 11.0% from 2018 to 2030. The growth can be attributed primarily to increasing demand for retractable azimuth thrusters in recreational boats, yachts and superyachts on account of its ecofriendly nature, cost-effectiveness and ease of operation without the need for any kind of crewmember¢â‚¬â„¢s assistance during sailing time.
Regional Analysis:
Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The regional market is characterized by increasing demand from countries, such as China, India, South Korea, Japan and Australia. Increasing investments in offshore oil & gas reserves are anticipated to drive product demand over the next eight years.
The North America ret retractable azimuth thruster market was valued at USD X million in 2017 owing to high penetration of these devices on commercial vessels across U.S., Canada and Mexico coastlines for pushing back against ice buildup during winter season Voyage performance enhancement has been a key factor influencing purchase decision of these devices among end-users along with their ability to reduce fuel consumption by up to 20%.
Growth Factors:
- Increasing demand for technologically advanced and energy efficient marine propulsion systems
- Growing popularity of azimuth thrusters for high-speed vessels and passenger ferries
- Rising number of maritime accidents due to engine failure or malfunctioning propellers
- Proliferation of large cruise ships and container vessels that require more powerful thrusts for maneuverability
- Development of new materials and technologies that can improve the efficiency, performance, and lifespan of retractable azimuth thrusters
Scope Of The Report
Report Attributes
Report Details
Report Title
Retractable Azimuth Thruster Market Research Report
By Type
Hydraulic, Electric
By Application
Oil & Gas, Marine
By Companies
Wartsila, Kongsberg, Thrustmaster of Texas, Veth Propulsion, Brunvoll, Kawasaki Heavy Industries, Pleuger Industries
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
189
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Retractable Azimuth Thruster Market Report Segments:
The global Retractable Azimuth Thruster market is segmented on the basis of:
Types
Hydraulic, Electric
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas, Marine
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Wartsila
- Kongsberg
- Thrustmaster of Texas
- Veth Propulsion
- Brunvoll
- Kawasaki Heavy Industries
- Pleuger Industries
Highlights of The Retractable Azimuth Thruster Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hydraulic
- Electric
- By Application:
- Oil & Gas
- Marine
- 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 Retractable Azimuth Thruster 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 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A retractable azimuth thruster is a type of propulsion system that uses the reaction of a propellant and an exhaust gas to create thrust. The thruster is activated by moving the exhaust gas through a nozzle, which causes the propellant to react and produce thrust.
Some of the key players operating in the retractable azimuth thruster market are Wartsila, Kongsberg, Thrustmaster of Texas, Veth Propulsion, Brunvoll, Kawasaki Heavy Industries, Pleuger Industries.
The retractable azimuth thruster market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Retractable Azimuth Thruster 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 Retractable Azimuth Thruster Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Retractable Azimuth Thruster 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 Retractable Azimuth Thruster 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 Retractable Azimuth Thruster Market Size & Forecast, 2020-2028 4.5.1 Retractable Azimuth Thruster Market Size and Y-o-Y Growth 4.5.2 Retractable Azimuth Thruster Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Hydraulic
5.2.2 Electric
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Oil & Gas
6.2.2 Marine
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Retractable Azimuth Thruster 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 Retractable Azimuth Thruster 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Hydraulic
9.6.2 Electric
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 Market Size Forecast by Applications
9.10.1 Oil & Gas
9.10.2 Marine
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Hydraulic
10.6.2 Electric
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 Market Size Forecast by Applications
10.10.1 Oil & Gas
10.10.2 Marine
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Hydraulic
11.6.2 Electric
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 Market Size Forecast by Applications
11.10.1 Oil & Gas
11.10.2 Marine
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Hydraulic
12.6.2 Electric
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 Market Size Forecast by Applications
12.10.1 Oil & Gas
12.10.2 Marine
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Hydraulic
13.6.2 Electric
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) Market Size Forecast by Applications
13.10.1 Oil & Gas
13.10.2 Marine
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 Retractable Azimuth Thruster Market: Competitive Dashboard
14.2 Global Retractable Azimuth Thruster Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Wartsila
14.3.2 Kongsberg
14.3.3 Thrustmaster of Texas
14.3.4 Veth Propulsion
14.3.5 Brunvoll
14.3.6 Kawasaki Heavy Industries
14.3.7 Pleuger Industries