What is Marine Propeller?
In the maritime sector, the vendors have already been facing a lot of challenges such as disruption in production due to slowdown in marine demand, workers went their homes due to COVID-19, steep drop in passenger traffic, and reduced shipping operations due to disrupted supply chain across the world. The United Kingdom marine propeller market is expected to grow at a moderate pace during the forecast period, according to the AMA study. Moreover, the rising demand for recreational boats and the rising demand from aftermarket & refurbishment of existing boats, vessels, or ships are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace once the COVID-19 pandemic is over in the future.
The market study is broken down by Type (Fixed Pitch Propeller and Controllable Pitch Propellers), by Application (Vessels, Luxury Yachts, Small & Mid-Sized Boats, Sail Boats, Fishing Boats and Others) and major geographies with country level break-up.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the market. The recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analysts at AMA Research estimates that Manufacturers from United Kingdom, United States will contribute to the maximum growth of Global Marine Propeller market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Austral Propeller (Australia), BaekSan Propeller Co., Ltd. (Sweden), BETA MARINE (United States), Berg Propulsion (Sweden), Blokland Non Ferro BV (Netherlands), Bob's Machine (United States), Bruntons Propellers (United Kingdom), Brunvoll (Norwway), CJR Propulsion Ltd. (United Kingdom), Clements Engineering (United Kingdom), Darglow Engineering (United Kingdom), Eliche Radice Spa (Italy), Eris Propellers (Turkey), Eval - E.G. Vallianatos S.A. (Greece), EWOL (Italy), FRANCE HELICES (France), GORI Propeller A/S (Denmark), Hyundai Heavy Industries Co., Ltd. (South Korea), Kiwi Feather Props Ltd (New Zealand), Masson Marine (France), Maucour Nantes France SA (France), Michigan Wheel (United States), Poseidon Propeller B.V. (Netherlands), Promac B.V. (Netherlans), Rolls-Royce Holdings (United Kingdom), Schaffran Propeller+SERVICE GmbH (Germany), Signature Propellers (United States), Solas Science & Engineering Co. (United States), VEEM Propellers (Australia), Vetus (Netherlands), Volvo Penta (Sweden) and West Mekan (Norway) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Marine Propeller market by Type, Application and Region.
On the basis of geography, the market of Marine Propeller has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. OEMs will boost the Marine Propeller market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. 3 Blade will boost the Marine Propeller market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Shaft, the sub-segment i.e. Thrust Shaft will boost the Marine Propeller market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Metals & Alloys will boost the Marine Propeller market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Stringent Government Regulations Regarding Bans on Marine Transportation Across the United Kingdom in the FY 2020 which has led to Negative Impact on the Demand for Marine Propellers in the UK
Market Trend
- Increasing Demand for Refurbishment of Old Generation Boats, Ships, or Vessels
Market Drivers
- Increasing Production of Recreational Boats Across the United Kingdom
- Rapid Changes in the Propulsion Systems Technology for Boats Demanding new Types of Propellers
Opportunities
- Increasing Demand for Luxury Yachts are Expected to Drive th Demand for Marine Propeller Across the United Kingdom
Restraints
- Fluctuations in Raw Materials Prices
Challenges
- Disrupted Marine Production in the FY 2020 Due to COVID-19 Pandemic
- Slow Recovery in Marine Traffic and Expected Delays in Boat/Ship Deliveries
Analyst View
The outbreak of COVID-19 all across the world has caused chaos and panic on a worldwide level which has led to ceasing of all normal daily life activites such as travel & transportation. Most of the industries have been affected by the pandemic in the FY 2020 which has impacted the maritime industry as well. The marine industry had already been facing worst circumstances as the workforces in the sectors had been shutt down for the safety & prevention of COVID-19 disease. Moreover, the ceased maritime transportation and shipping operations across the country has also impacted the production of marine ships & boats which has affected the marine propellers market in the country. Some of the other factors which has impacted the marine propellers market in United Kingdom directly or indirectly are port closures, lesser demand for cargos, disputes between owners & charters, discussion on clauses, and bankruptcy of different companies due to lack of fundings and reduced sales caused by the pandemic.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.