Market Overview:
The global ship thrusters 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 luxury yachts and sailing boats, rising maritime trade, and growing port infrastructure development. The other azimuth thrusters segment is expected to grow at a higher CAGR than the lateral thrusters segment during the forecast period. Among applications, the yacht segment is projected to grow at a higher CAGR than other segments from 2018 to 2030. Geographically, North America is estimated to hold the largest share of the global ship thrusters market in 2018, followed by Europe and Asia Pacific.
Product Definition:
A ship thruster is a device used to provide propulsive force to a marine vessel. Thrusters are usually mounted in pairs on the rear of the vessel, and can be rotated to direct thrust in any chosen direction. The importance of ship thrusters is that they provide motive power for vessels, allowing them to move through water and thus fulfill their various functions.
Otherazimuth Thrusters:
Otherazimuth thrusters are used in ships to provide directional or rotational motion. These are different from the axial thrusters as they do not have a common shaft and operate independently. The other types of drive systems include radial and tangential, these also require multiple nozzles but instead of operating along the axis, they operate around the centerline of the ship.
Lateral Thrusters:
Lateral thrusters are devices that are used to provide a force in the lateral direction. They can be either mechanical or electric. The mechanism used to create the lateral force is different in both cases; however, they produce similar results. A typical example of a mechanical device would be an arrangement of vanes and blades mounted on a flexible shaft, which is driven by an electric motor through a reduction gearbox (if required).
Application Insights:
The market is segmented by application into yacht, sailing, tug and other. Yacht was the largest application segment in 2017 and is expected to maintain its lead over the forecast period. The growing demand for luxury yachts with state-of-the-art amenities has been a major factor driving the growth of this segment. Moreover, increasing government funding for maritime research & development activities coupled with rising awareness regarding safety at sea are further anticipated to propel product demand in this sector over the coming years.
Sailing accounted for a significant share of revenue on account of increased use in recreational boats as compared to commercial vessels. Growing participation across various events such as Sydney Hobart Yacht Race, Newport Bermuda Races and Auckland Sailing Weekends races are expected to drive product adoption during these events which will eventually boost industry growth across all applications significantly over the coming years.
Regional Analysis:
Asia Pacific dominated the global ship thrusters market in 2016 and is expected to continue its dominance over the forecast period. The presence of a large number of shipbuilding yards in countries, such as China and Japan, coupled with increasing maritime trade activities within this region is anticipated to drive the demand for thrusters. Furthermore, rising awareness regarding COVID-19 among passengers traveling by sea across various regions is further expected to increase demand for these devices.
The Asia Pacific regional market was closely followed by Europe which accounted for 23% of the overall revenue share in 2016 owing to stringent regulations imposed on marine transportation facilities within this region. Countries such as Norway and U.
Growth Factors:
- Increasing demand for maritime transportation: The global seaborne trade has been growing at a CAGR of around 4% in the past few years and is expected to grow further in the coming years, driven by factors such as globalization, rising middle-class population, and increasing trade among countries. This is expected to result in an increase in demand for ship thrusters over the forecast period.
- Technological advancements: Ship thruster manufacturers are constantly investing in R&D to develop new and more efficient technologies that can improve the performance of ship thrusters. This is resulting in increased efficiency and reduced fuel consumption, which is driving growth of the market.
- Growing popularity of hybrid ships: A number of shipping companies are now opting for hybrid ships that use both sail power and electric propulsion systems to reduce emissions and save on fuel costs. Ship thrusters play an important role in these hybrid ships by providing efficient electric propulsion systems, thereby contributing to market growth.
Scope Of The Report
Report Attributes
Report Details
Report Title
Ship Thrusters Market Research Report
By Type
Otherazimuth Thrusters, Lateral Thrusters
By Application
Yacht, Sailing, Tug, Other
By Companies
ABB, ZF Friedrichshafen AG, Alpatek B.V., Niigata Power Systems, Masson Marine, Poseidon Propulsion BV, C.M.T, ERIS PROPELLERS, Thrustmaster of Texas, Fountom Marine, VETH PROPULSION, Fischer Panda, Hydro Armor, Rolls-Royce, Dutch Thrustleader Marine Propulsion, Wartsila Corporation, Schottel, Jastram, Hydraulic Marine Systems, Hydromaster, Brunvoll, Van der Velden Marine Systems, Nakashima Propeller, Berg Propulsion, OCEAN YACHT SYSTEMS, REINTJES, Voith Turbo, YMV CRANE AND WINCH SYSTEMS
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Ship Thrusters Market Report Segments:
The global Ship Thrusters market is segmented on the basis of:
Types
Otherazimuth Thrusters, Lateral Thrusters
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
Yacht, Sailing, Tug, 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:
- ABB
- ZF Friedrichshafen AG
- Alpatek B.V.
- Niigata Power Systems
- Masson Marine
- Poseidon Propulsion BV
- C.M.T
- ERIS PROPELLERS
- Thrustmaster of Texas
- Fountom Marine
- VETH PROPULSION
- Fischer Panda
- Hydro Armor
- Rolls-Royce
- Dutch Thrustleader Marine Propulsion
- Wartsila Corporation
- Schottel
- Jastram
- Hydraulic Marine Systems
- Hydromaster
- Brunvoll
- Van der Velden Marine Systems
- Nakashima Propeller
- Berg Propulsion
- OCEAN YACHT SYSTEMS
- REINTJES
- Voith Turbo
- YMV CRANE AND WINCH SYSTEMS
Highlights of The Ship Thrusters 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:
- Otherazimuth Thrusters
- Lateral Thrusters
- By Application:
- Yacht
- Sailing
- Tug
- 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 Ship Thrusters 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?
Ship thrusters are engines that propel a ship through the water. They work by using a jet of water to push the ship forward.
Some of the major companies in the ship thrusters market are ABB, ZF Friedrichshafen AG, Alpatek B.V., Niigata Power Systems, Masson Marine, Poseidon Propulsion BV, C.M.T, ERIS PROPELLERS, Thrustmaster of Texas, Fountom Marine, VETH PROPULSION, Fischer Panda, Hydro Armor, Rolls-Royce, Dutch Thrustleader Marine Propulsion, Wartsila Corporation, Schottel, Jastram, Hydraulic Marine Systems, Hydromaster, Brunvoll, Van der Velden Marine Systems, Nakashima Propeller, Berg Propulsion, OCEAN YACHT SYSTEMS, REINTJES, Voith Turbo, YMV CRANE AND WINCH SYSTEMS.
The ship thrusters market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ship Thrusters 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. Ship Thrusters Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Ship Thrusters Market - Supply Chain
4.5. Global Ship Thrusters Market Forecast
4.5.1. Ship Thrusters Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Ship Thrusters Market Size (000 Units) and Y-o-Y Growth
4.5.3. Ship Thrusters Market Absolute $ Opportunity
5. Global Ship Thrusters 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. Ship Thrusters Market Size and Volume Forecast by Type
5.3.1. Otherazimuth Thrusters
5.3.2. Lateral Thrusters
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Ship Thrusters 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. Ship Thrusters Market Size and Volume Forecast by Application
6.3.1. Yacht
6.3.2. Sailing
6.3.3. Tug
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Ship Thrusters 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. Ship Thrusters 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 Ship Thrusters 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. Ship Thrusters 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 Ship Thrusters Demand Share Forecast, 2019-2026
9. North America Ship Thrusters 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 Ship Thrusters 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 Ship Thrusters Market Size and Volume Forecast by Application
9.4.1. Yacht
9.4.2. Sailing
9.4.3. Tug
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Ship Thrusters Market Size and Volume Forecast by Type
9.7.1. Otherazimuth Thrusters
9.7.2. Lateral Thrusters
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 Ship Thrusters Demand Share Forecast, 2019-2026
10. Latin America Ship Thrusters 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 Ship Thrusters 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 Ship Thrusters Market Size and Volume Forecast by Application
10.4.1. Yacht
10.4.2. Sailing
10.4.3. Tug
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Ship Thrusters Market Size and Volume Forecast by Type
10.7.1. Otherazimuth Thrusters
10.7.2. Lateral Thrusters
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 Ship Thrusters Demand Share Forecast, 2019-2026
11. Europe Ship Thrusters 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 Ship Thrusters 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 Ship Thrusters Market Size and Volume Forecast by Application
11.4.1. Yacht
11.4.2. Sailing
11.4.3. Tug
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Ship Thrusters Market Size and Volume Forecast by Type
11.7.1. Otherazimuth Thrusters
11.7.2. Lateral Thrusters
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
1.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Ship Thrusters Demand Share, 2019-2026
12. Asia Pacific Ship Thrusters 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 Ship Thrusters 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 Ship Thrusters Market Size and Volume Forecast by Application
12.4.1. Yacht
12.4.2. Sailing
12.4.3. Tug
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Ship Thrusters Market Size and Volume Forecast by Type
12.7.1. Otherazimuth Thrusters
12.7.2. Lateral Thrusters
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 Ship Thrusters Demand Share, 2019-2026
13. Middle East & Africa Ship Thrusters 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 Ship Thrusters 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 Ship Thrusters Market Size and Volume Forecast by Application
13.4.1. Yacht
13.4.2. Sailing
13.4.3. Tug
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Ship Thrusters Market Size and Volume Forecast by Type
13.7.1. Otherazimuth Thrusters
13.7.2. Lateral Thrusters
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 Ship Thrusters Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Ship Thrusters Market: Market Share Analysis
14.2. Ship Thrusters Distributors and Customers
14.3. Ship Thrusters Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. ZF Friedrichshafen AG
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Alpatek B.V.
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Niigata Power 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. Masson Marine
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Poseidon Propulsion BV
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. C.M.T
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. ERIS PROPELLERS
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Thrustmaster of Texas
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Fountom Marine
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. VETH PROPULSION
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Fischer Panda
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Hydro Armor
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Rolls-Royce
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Dutch Thrustleader Marine Propulsion
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Wartsila Corporation
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Schottel
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Jastram
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Hydraulic Marine Systems
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Hydromaster
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
