Industry Background:
Azimuth thrusters are placed on the pods which can be rotated in the horizontal directions. It gives better maneuverability as compared to fixed propellers. It is used in displacement vessels for propulsion and steering and has the applications such as ship docking, ship escort and positioning. Azimuth thrusters are available from low power such as 55kW to high power such as 8MW. Also, it has z drive configuration and L drive configuration with direct diesel engine drive and electric drive respectively. Further, it replaces the conventional propulsion as well as rudder steering systems and comes with interface for auto pilot systems. According to the organisation of economic corporation and developments, China is the largest ship building country which is followed by Korea, Japan and European Union. These East Asian countries has represented 86% of all Compensated Gross Tonnage (CGT) in 2017.This growth is primarily driven by Increasing Investments for International Seaborne Trade
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Marine sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Rolls-Royce (United Kingdom), SCHOTTEL Group (Germany), ABB (Switzerland), Caterpiller Propulsion (Sweden), ZF Friedrichshafen AG (Germany), IHI Power Systems Co., Ltd. (IPS). (United States), Brunvoll (Norway), Thrustmaster (United States), Kawasaki (Japan) and Steerprop (Finland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2022, Kongsberg has two contracts for the supply of naval vessels. One with Integrated Wind Power Solutions (IWS) to supply integrated equipment solutions to two CSOVs (Commissioning Service Operation Vessels). The second contract was to supply a comprehensive technology package to Sembcorp Marine and the Wind Turbine Installation Vessel (WTIV)., In 2022, Kongsberg has contracted with Sanmar Shipyards to provide US255SFP and US205SFP thrusters for installation on a new Azimuth Stern Drive (ASD) tugboat that the Turkish shipyard is building for Svitzer. and On 2nd July ABB has completed the acquisition of GE industrial solutions. This acquisition helps the company to strengthen the position in electrification and expansion in North America market.
Rolls Royce has launched a permanent magnet azimuth thrusters. It is launched at nor shipping maritime exhibition in Oslow.
Azimuth Thrusters Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Investments for International Seaborne Trade
- Rising Production of New Ships and Demand in Repair Market is leading to Demand of Azimuth Thrusters
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Influencing Trends | - Increased Focus on the Development and Launch of Next Generation Azimuth Thrusters
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Restraints | - Maintenance of Azimuth Thrusters Leads to Increased Costs
- Low product life may hamper the market
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Road Blocks / Challenges | - Presence of a Large number of Vendors in the Global Market Can Enhance Competition and Create Challenges
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Gaps & Opportunities | - Increasing Maritime Tourism is Boosting the Market
- Technological Advancements in Propulsion Systems
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Azimuth Thrusters Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Azimuth Thrusters Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Azimuth Thrusters players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Azimuth Thrusters Study Sheds Light on
The Azimuth Thrusters Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Azimuth Thrusters industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Azimuth Thrusters industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.