Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Azimuth Thrusters market is expected to register a phenomenal CAGR of 6.5% during the review period (2022 to 2027).
The azimuth thruster is a marine propeller located in pods that can be rotated in any direction. These propellers remove the usage of the rudder as it can be rotated to any horizontal plane. This system is considered to have an angular measurement during the spherical coordinate system and sometimes placed vertical or horizontal angle azimuth in different vessel types.
Azimuth thrusters are propulsion devices that offer high maneuverability to the ships allowing them to change their directions of travel rapidly. These thrusters rotate 360 degrees thus allowing easy movement in any direction. They also allow vessels to move forward, backward, and sideways with equal ease of use.
Globally, the azimuth thruster industry market is relatively concentrated as the manufacturing technology of azimuth thrusters is relatively high. And some enterprises, like SCHOTTEL Group and Rolls-Royce and Niigata Power Systems etc. are well-known for the wonderful performance of their azimuth thrusters and related services. At the same time, Europe, where most of the leading manufacturers come from the region, is remarkable in the global azimuth thruster industry because of their market share and technology status of azimuth thrusters.
Recent Development
It’s a new dawn for Project Sunrise as Qantas announces agreement for 12 Trent XWB-97 powered Airbus A350-1000 aircraft
Australian airline Qantas has committed to a deal for 12 Trent XWB-97 powered Airbus A350-1000s that will support its ambitions to operate the world’s longest commercial non-stop flights, allowing passengers to fly direct between London or New York to the Australian eastcoast cities of Sydney and Melbourne.
Rolls-Royce and Qantas have also committed to sign a TotalCare® service agreement for the Trent XWB-97 engines that will power the 12 aircraft, providing the airline with predictability and reliability for the services and maintentance of the new fleet.
By Type, it is segmented into:
By Applications, it is segmented into:
The market size in North America stood at USD 103.4 million in 2019. The dominance of this region is attributable to the rising focus on fuel consumption and the increasing number of ferries, fishing vessels, and cruise ships in North America.
Europe is expected to register the fastest growth in the market during the forecast period. The growth is ascribable to the presence of key players such as ABB Marine, Brunvoll, and KONGSBERG. The rising demand for small size and medium-size vessels for passenger transport, fishing, and other maritime applications is expected to drive the market in Europe.
Asia Pacific is expected to exhibit the largest azimuth thrusters market share during the forecast period. This growth is primarily owing to the rapid expansion of the shipbuilding industry in China, Japan, South Korea, and India. In addition to this, China shipbuilding would continue to show the largest market share during the forecast period. South America and the Middle East & Africa would register significant growth during the forecast period. Rising offshore wind farms activities from these regions is contributing towards the growth of the market.
The North American region is anticipated to hold the major market share in terms of revenue during the forecast period. The increase in demand for tugboats and offshore support vessels across various regions such as Eastern Canada and the Western US will drive this regional segment over the predictable time frame.
Scope of the Report covers Azimuth Thrusters Market with detailed analysis of the overall scenario for the market. It also highlights the business participants' environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Azimuth Thrusters Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.
Reports Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 6.5% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | SCHOTTEL Group, Rolls-Royce Holdings plc (OTC :RYCEY), iShares U.S. Medical Devices ETF (NYSEArca :IHI), Cat Propulsion, Brunvoll, Thrustmaster, Kawasaki, Steerprop |
Regions Covered | • North America • Europe • Asia-Pacific • Rest of the World |
Countries Covered | • US • Canada • Germany • France • UK • Italy • Spain • Rest of Europe • China • Japan • India • Australia • South Korea • Rest of Asia-Pacific • Middle East & Africa • Latin America |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 164 |
Customization Available | Yes, the report can be customized as per your needs |
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
What is the study period of this market?
The Azimuth Thrusters Market is studied from 2017 - 2027.
Who are the key players in Azimuth Thrusters Market?
SCHOTTEL Group, Rolls-Royce Holdings plc (OTC :RYCEY), iShares U.S. Medical Devices ETF (NYSEArca :IHI), Cat Propulsion, Brunvoll, Thrustmaster, Kawasaki, Steerprop, Wartsila Corporation, ABB Marine, Voith Turbo, ZF Friedrichshafen AG, Veth Propulsion, NGC, Jastram, Wuxi Ruifeng Marine, Hydromaster and others.
What are the significant types of Azimuth Thrusters Market?
Less than 1500KW, 1500KW-3500KW, More than 3500KW, Others
What are the major end-use applications of Azimuth Thrusters Market?
Tugboat, Offshore Support Vessel, Ferries and Freighter, Others.
What segments are covered in the Azimuth Thrusters Market report?
The Global Azimuth Thrusters Market is Segmented on the basic of Product, Application, and Geography.
How can I get a sample report/company profile for the Azimuth Thrusters Market?
The sample report for the Azimuth Thrusters Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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