Marine Propeller Market- Global Segments and Forecast upto 2022
Albany, NY -- (SBWIRE) -- 08/11/2015 -- Marine propellers are designed in a fan-like structure and are used to propel ships on the power from the main engine of the ship. The mechanical systems of marine propellers transmit rotational motion of the propeller itself into the thrust required to move ships forward. The speed of the vessel is based on the number of blades in the propeller. The marine propeller market is expected to expand at a double-digit CAGR during 2015 to 2022.
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Marine propellers for stern drive and outboard type of boats are made from stainless steel or aluminum and have significant corrosion resistance. Propellers for larger boats are made from some malleable alloy, such as bronze. Marine propellers have blades that are wider in relation to their diameter than that of aircraft propellers. There are 3-, 4-, and 5-blade propellers and each of these have special characteristics. Marine propellers are optimized to push the water backwards with the same amount of force that pushes the vessel forwards. Propellers are usually located near the stern of a ship.
Controllable Pitch Propellers in Demand Due to Low Maintenance and High Efficiency
Segmentation of the global marine propeller market is based on type, application, geography, and material used. The various marine propeller types in the global marine propeller market are fixed pitch propellers and controllable pitch propellers. Controllable pitch propellers require less maintenance and work efficiently for fan rotation and full range of rotational speed. The pitch is defined as the forward movement of a propeller during rotation. The pitch decides the performance of the boat or ship. The types of materials used in marine propellers are stainless steel, bronze, and aluminum.
Applications of marine propellers are categorized into recreational boats, submarines, and defense and merchant ships. On the basis of geography, the global marine propeller market is segmented into North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific.
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Technological Developments Drive Demand
Marine propellers have experienced considerable technological developments in recent years. Newer versions of marine propellers are designed to reduce consumption of diesel or other non-renewable energy sources. Hybrid marine propulsion systems are used to reduce fuel intake. Newer marine propulsion systems include lithium batteries, solar panels, and wind propulsion systems. The use of hybrid technology can provide important market opportunities for the global marine propellers market.
Asia Pacific Prime Market due to Intense R&D Programs and Increased Use in Ships
Augmented demand and wide ranging production in countries such as China is accelerating the marine propeller market in Asia Pacific and this region is expected to witness rapid growth over the next few years. The freeing up of trade in Asia Pacific countries has fueled the marine propeller market. Additionally, technological innovations and strong backing to R&D programs are resulting in amplified exports through container ships in Asia Pacific countries and this has led to increased demand for marine propellers.
The key market players for marine propellers are Rolls-Royce Holdings (U.K.), Mitsubishi Heavy Industries, Ltd. (Japan), Caterpillar Inc. (U.S) Hyundai Heavy Industries Co. Ltd (South Korea), and Man Se Corporation (Germany), among others.
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