Market Overview:
The global rudder systems market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for bulk vessels, container ships, and passenger ships across the globe. Additionally, the increasing adoption of intelligent monitoring systems and twisted leading edge rudders are also contributing to the growth of this market. However, fluctuations in raw material prices may hamper the growth of this market in some regions during the forecast period. On basis on type,the global rudder systemsmarket is segmented into intelligent monitoring systemstwisted leading edge ruddersflap ruddersand others (including hydraulic steering gear). Intelligent monitoring systemstake up a major shareof th eglobal rudder systemsmarket due their ability tomaintain vessel stabilityand improve fuel efficiency by reducing drag forces onthe vessel hull . On basis on application,the global rudder systemsmarket is segmented into bulk vesselscontainer shipspassenger shipsand others (including ferries and yachts). Bulk vesselsaccount for themajorityof th eglobal Rudder Systems Marketdue their high cargo capacity as compared tonon-bulk vessels .
Product Definition:
A rudder system is a mechanism used to steer a ship, boat, or other watercraft. The rudder system typically consists of one or more rudders mounted at the stern of the vessel and controlled by cables or hydraulic lines. The primary purpose of a rudder system is to provide lateral control for the vessel, allowing it to be steered in different directions.
Intelligent Monitoring System:
Intelligent monitoring system is a tool that helps to monitor the health and efficiency of an aircraft's critical systems such as hydraulic, pneumatic, and mechanical. It also provides information about the performance of each component used in flight. The IMS offers various benefits such as reduced maintenance cost due to early failure detection, increased reliability & safety by providing comprehensive data on components' behavior under pressure or temperature etc., which are expected to drive market growth over the forecast period.
Twisted Leading Edge Rudders:
Leading edge rudders are a type of hydrofoil structure that is used in the design of ship or boat rudders. The shape of these hydrofoils generates minimum resistance to the water and hence provides high efficiency in terms of fuel consumption. Leading edge rudders are widely used as an alternative to conventional vertical and horizontal surfaces for improving steering characteristics, such as turning radius at low/medium speeds, maneuverability at high speeds, etc.
Application Insights:
Container ships were the largest application segment and accounted for a volume share of over 50.0% in 2017. Container ships are widely used for short sea transport between various ports across the world, thus making them highly maneuverable vessels. Containers have to be stowed securely while ensuring ease of access during unloading operations at both ends of a ship, which makes them susceptible to rollover accidents when operated by unskilled crew members or operating with inadequate equipment on board such as improper load securing procedures or insufficient number of crew members.
The bulk vessel segment is expected to grow at the fastest CAGR over the forecast period owing to their ability to operate in waters where container ships cannot due largelyto their size and deadweight capacity that enables them carry more cargo per voyage than other types of vessels can do.
Regional Analysis:
Asia Pacific is expected to be the largest regional market over the forecast period owing to growing trade activities across various sectors. Increasing maritime transport in this region is anticipated to fuel product demand, especially for container and bulk vessels. The increasing number of shipbuilding projects in China, India, South Korea and Japan are also projected to have a positive impact on industry growth over the next eight years.
Europe accounted for more than 25% of global revenue share in 2017 owing to high adoption rate of advanced rudders coupled with stringent regulations regarding water pollution by ships operating without intelligent systems installed.
Growth Factors:
- Increasing demand for data-driven decision making across enterprises
- Rudder Systems’ ability to provide actionable insights in real time
- Growing popularity of cloud-based solutions
- Rudder Systems’ strong partnerships with leading technology providers
- The company’s focus on innovation and customer satisfaction
Scope Of The Report
Report Attributes
Report Details
Report Title
Rudder Systems Market Research Report
By Type
Intelligent Monitoring System, Twisted Leading Edge Rudders, Flap Rudders
By Application
Bulk Vessels, Container Ships, Passenger Ships
By Companies
MM-Offshore GmbH, Wartsila, MAN Diesel & Turbo, Van der Velden Marine Systems, Becker Marine Systems, Wilderness Systems, Simplex-Turbulo, NGC Gears
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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Rudder Systems Market Report Segments:
The global Rudder Systems market is segmented on the basis of:
Types
Intelligent Monitoring System, Twisted Leading Edge Rudders, Flap Rudders
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
Bulk Vessels, Container Ships, Passenger Ships
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:
- MM-Offshore GmbH
- Wartsila
- MAN Diesel & Turbo
- Van der Velden Marine Systems
- Becker Marine Systems
- Wilderness Systems
- Simplex-Turbulo
- NGC Gears
Highlights of The Rudder Systems 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:
- Intelligent Monitoring System
- Twisted Leading Edge Rudders
- Flap Rudders
- By Application:
- Bulk Vessels
- Container Ships
- Passenger Ships
- 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 Rudder Systems 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
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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?
Rudder systems are the primary means of controlling a ship's direction. They use a system of levers, pedals, and cables to turn the rudder in one or more directions.
Some of the major companies in the rudder systems market are MM-Offshore GmbH, Wartsila, MAN Diesel & Turbo, Van der Velden Marine Systems, Becker Marine Systems, Wilderness Systems, Simplex-Turbulo, NGC Gears.
The rudder systems market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Rudder Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Rudder Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Rudder Systems Market - Supply Chain
4.5. Global Rudder Systems Market Forecast
4.5.1. Rudder Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Rudder Systems Market Size (000 Units) and Y-o-Y Growth
4.5.3. Rudder Systems Market Absolute $ Opportunity
5. Global Rudder Systems Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Rudder Systems Market Size and Volume Forecast by Type
5.3.1. Intelligent Monitoring System
5.3.2. Twisted Leading Edge Rudders
5.3.3. Flap Rudders
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Rudder Systems Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Rudder Systems Market Size and Volume Forecast by Application
6.3.1. Bulk Vessels
6.3.2. Container Ships
6.3.3. Passenger Ships
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Rudder Systems Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Rudder Systems Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Rudder Systems Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Rudder Systems Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Rudder Systems Demand Share Forecast, 2019-2029
9. North America Rudder Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Rudder Systems Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Rudder Systems Market Size and Volume Forecast by Application
9.4.1. Bulk Vessels
9.4.2. Container Ships
9.4.3. Passenger Ships
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Rudder Systems Market Size and Volume Forecast by Type
9.7.1. Intelligent Monitoring System
9.7.2. Twisted Leading Edge Rudders
9.7.3. Flap Rudders
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Rudder Systems Demand Share Forecast, 2019-2029
10. Latin America Rudder Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Rudder Systems Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Rudder Systems Market Size and Volume Forecast by Application
10.4.1. Bulk Vessels
10.4.2. Container Ships
10.4.3. Passenger Ships
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Rudder Systems Market Size and Volume Forecast by Type
10.7.1. Intelligent Monitoring System
10.7.2. Twisted Leading Edge Rudders
10.7.3. Flap Rudders
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Rudder Systems Demand Share Forecast, 2019-2029
11. Europe Rudder Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Rudder Systems Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Rudder Systems Market Size and Volume Forecast by Application
11.4.1. Bulk Vessels
11.4.2. Container Ships
11.4.3. Passenger Ships
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Rudder Systems Market Size and Volume Forecast by Type
11.7.1. Intelligent Monitoring System
11.7.2. Twisted Leading Edge Rudders
11.7.3. Flap Rudders
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Rudder Systems Demand Share, 2019-2029
12. Asia Pacific Rudder Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Rudder Systems Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Rudder Systems Market Size and Volume Forecast by Application
12.4.1. Bulk Vessels
12.4.2. Container Ships
12.4.3. Passenger Ships
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Rudder Systems Market Size and Volume Forecast by Type
12.7.1. Intelligent Monitoring System
12.7.2. Twisted Leading Edge Rudders
12.7.3. Flap Rudders
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Rudder Systems Demand Share, 2019-2029
13. Middle East & Africa Rudder Systems Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Rudder Systems Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Rudder Systems Market Size and Volume Forecast by Application
13.4.1. Bulk Vessels
13.4.2. Container Ships
13.4.3. Passenger Ships
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Rudder Systems Market Size and Volume Forecast by Type
13.7.1. Intelligent Monitoring System
13.7.2. Twisted Leading Edge Rudders
13.7.3. Flap Rudders
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Rudder Systems Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Rudder Systems Market: Market Share Analysis
14.2. Rudder Systems Distributors and Customers
14.3. Rudder Systems Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. MM-Offshore GmbH
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Wartsila
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. MAN Diesel & Turbo
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Van der Velden Marine Systems
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Becker Marine Systems
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Wilderness Systems
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Simplex-Turbulo
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. NGC Gears
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook