Market Overview:
The global semi-balanced ship rudder market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The growth of the global semi-balanced ship rudder market can be attributed to the increasing demand for maritime transportation across the globe. In addition, the increasing adoption of advanced technologies in maritime transportation is also expected to boost the growth of this market over the forecast period. On basis of type, cast iron material segment is anticipated to account for a major share in terms of revenue in 2018 and is projected register highest CAGR during forecast period. Stainless steel material segment accounted for second largest share as compared with other type segments and it will continue its dominance over next few years owing growing preference among end users towards corrosion resistance properties offered by stainless steel materials over cast iron materials. On basis application, cargo ships segment dominated overall market with highest revenue contribution followed by passenger ships segment in 2018; however container ships are expected witness highest CAGR over next decade owing rising demand from developing countries such as China and India .
Product Definition:
A semi-balanced rudder is a type of ship rudder that uses a balance weight to offset the mass of the rudder and its mountings. This helps to reduce the amount of force needed to move the rudder, making it easier for sailors to steer their ships. Semi- balanced rudders are found on many large vessels, including cruise ships and naval warships.
Cast Iron Material:
Cast iron material is a durable, strong and heavy metal that gets cast into the shape of various objects such as pipes, engines, wheels etc. It has applications in industries ranging from construction to transportation and consumer goods industry. The growth factor for cast iron material semi-balanced ship rudder market is construction sector growth in emerging countries such as India China and Brazil due to urbanization coupled with government support through FDI & Public Investment (PPS) along with infrastructure development at domestic level.
Stainless Steel Material:
Stainless steel material is used in semi-balanced ship rudders on account of its properties such as high strength, corrosion resistance and low maintenance. The product also offers ease of operation to the user due to its light weight.
The global stainless steel market is expected to witness significant growth over the forecast period owing to increasing demand from end-use industries including construction, automotive and packaging.
Application Insights:
The cargo ships, which are major application segment of the market, accounted for a revenue share of over 50.0% in 2017. The growth can be attributed to the expansion and development of China as a maritime trade hub and also due to an increase in overseas shipments. The demand for semi-balanced rudder is expected to grow on account of its ability to maneuver in both calm waters as well as choppy waters with ease and efficiency.
Passenger ships are anticipated to witness significant growth over the forecast period owing to increasing tourism activities across various regions including Latin America Pacific Asia Australia New Zealand Mexico Europe Russia Africa South America Middle East & Africa India China Japan Singapore Malaysia Thailand Vietnam Other North American countries have signed agreements with Cuba that will allow cruise ship visits from U.S.
Regional Analysis:
Asia Pacific dominated the global semi-balanced rudder market in terms of revenue with a share of over 40.0% in 2017. This is attributed to the rising trade activities and increasing maritime transport across this region, which has led to an increase in shipbuilding activities as well. Moreover, countries such as China and Japan are investing heavily in marine transportation infrastructure development projects for moving goods across long distances at low costs, thus driving the demand for semi-balanced rudders over the forecast period.
Europe is expected to witness significant growth during the forecast period owing to growing demand from shipbuilding sector on account of increasing requirement for building new ships or vessels primarily meant for carrying passengers or cargo rather than warships like destroyers and frigates used by navies mainly of Russia.
Growth Factors:
- Increasing demand for maritime transport: The global seaborne trade has been registering a steady growth in the past few years. This is primarily attributed to the increasing demand for goods and commodities from developing countries. As a result, the need for efficient and reliable maritime transportation services is also on the rise. This is benefiting the semi-balanced ship rudder market as well.
- Rising popularity of hybrid ships: A number of shipping companies are now opting for hybrid ships that run on both diesel and electric power sources. These vessels are more fuel-efficient and environment-friendly as compared to traditional ones running on diesel engines alone. This is further propelling the adoption of semi-balanced ship rudders across different segments of the shipping industry.
Scope Of The Report
Report Attributes
Report Details
Report Title
Semi- Balanced Ship Rudder Market Research Report
By Type
Cast Iron Material, Stainless Steel Material, Other
By Application
Cargo Ships, Passenger Ships, Container Ships, Tankers, Fishing Vessel, Other
By Companies
Damen Marine Components, Becker Marine Systems GmbH, Teignbridge Propellers International Ltd., Nufoss Services Pte Ltd., Mecklenburger Metallguss, Torqeedo GmbH, Hamworthy KSE, Breezemarine, Hazelhurst Management T/A Alpha
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
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Semi- Balanced Ship Rudder Market Report Segments:
The global Semi- Balanced Ship Rudder market is segmented on the basis of:
Types
Cast Iron Material, Stainless Steel Material, Other
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
Cargo Ships, Passenger Ships, Container Ships, Tankers, Fishing Vessel, Other
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:
- Damen Marine Components
- Becker Marine Systems GmbH
- Teignbridge Propellers International Ltd.
- Nufoss Services Pte Ltd.
- Mecklenburger Metallguss
- Torqeedo GmbH
- Hamworthy KSE
- Breezemarine
- Hazelhurst Management T/A Alpha
Highlights of The Semi- Balanced Ship Rudder 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:
- Cast Iron Material
- Stainless Steel Material
- Other
- By Application:
- Cargo Ships
- Passenger Ships
- Container Ships
- Tankers
- Fishing Vessel
- Other
- 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 Semi- Balanced Ship Rudder 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.
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
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 semi-balanced ship rudder is a type of rudder that is not perfectly balanced. This means that there is a slight imbalance in the weight of the blade on either side of the rudder. The purpose of this imbalance is to provide more control over the direction and speed of the ship.
Some of the major players in the semi- balanced ship rudder market are Damen Marine Components, Becker Marine Systems GmbH, Teignbridge Propellers International Ltd., Nufoss Services Pte Ltd., Mecklenburger Metallguss, Torqeedo GmbH, Hamworthy KSE, Breezemarine, Hazelhurst Management T/A Alpha.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Semi- Balanced Ship Rudder 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 Semi- Balanced Ship Rudder Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Semi- Balanced Ship Rudder 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 Semi- Balanced Ship Rudder 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 Semi- Balanced Ship Rudder Market Size & Forecast, 2020-2028
4.5.1 Semi- Balanced Ship Rudder Market Size and Y-o-Y Growth
4.5.2 Semi- Balanced Ship Rudder 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 Cast Iron Material
5.2.2 Stainless Steel Material
5.2.3 Other
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 Cargo Ships
6.2.2 Passenger Ships
6.2.3 Container Ships
6.2.4 Tankers
6.2.5 Fishing Vessel
6.2.6 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Semi- Balanced Ship Rudder 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 Semi- Balanced Ship Rudder 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 Cast Iron Material
9.6.2 Stainless Steel Material
9.6.3 Other
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 Cargo Ships
9.10.2 Passenger Ships
9.10.3 Container Ships
9.10.4 Tankers
9.10.5 Fishing Vessel
9.10.6 Other
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 Cast Iron Material
10.6.2 Stainless Steel Material
10.6.3 Other
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 Cargo Ships
10.10.2 Passenger Ships
10.10.3 Container Ships
10.10.4 Tankers
10.10.5 Fishing Vessel
10.10.6 Other
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 Cast Iron Material
11.6.2 Stainless Steel Material
11.6.3 Other
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 Cargo Ships
11.10.2 Passenger Ships
11.10.3 Container Ships
11.10.4 Tankers
11.10.5 Fishing Vessel
11.10.6 Other
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 Cast Iron Material
12.6.2 Stainless Steel Material
12.6.3 Other
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 Cargo Ships
12.10.2 Passenger Ships
12.10.3 Container Ships
12.10.4 Tankers
12.10.5 Fishing Vessel
12.10.6 Other
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 Cast Iron Material
13.6.2 Stainless Steel Material
13.6.3 Other
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 Cargo Ships
13.10.2 Passenger Ships
13.10.3 Container Ships
13.10.4 Tankers
13.10.5 Fishing Vessel
13.10.6 Other
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 Semi- Balanced Ship Rudder Market: Competitive Dashboard
14.2 Global Semi- Balanced Ship Rudder Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Damen Marine Components
14.3.2 Becker Marine Systems GmbH
14.3.3 Teignbridge Propellers International Ltd.
14.3.4 Nufoss Services Pte Ltd.
14.3.5 Mecklenburger Metallguss
14.3.6 Torqeedo GmbH
14.3.7 Hamworthy KSE
14.3.8 Breezemarine
14.3.9 Hazelhurst Management T/A Alpha
