Global Azimuth Thrusters market report, market size, share, trends, analysis and forecast to 2028
Added: (Wed Dec 07 2022)
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Stratistics MRC’s Global Azimuth Thrusters Market value is expected to reach $633.80 million growing at a CAGR of 3.5% during 2022-2028.
An azimuth thruster is a alignment of marine propellers placed in pods that can be rotated to any horizontal angle (azimuth), making a rudder unnecessary. These give ships better manoeuvrability than a fixed propeller and rudder system.
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By geography, Europe is projected to hold the largest market share during the forecast period. This growth can be accredited to increasing in offshore oil and gas activities across countries such as Norway, the UK, France, Spain, etc., which is driving procurement of azimuth thrusters for tugboats & offshore support vessels in this province. Moreover, the presence of key OEMs such as Brunvoll, ABB Marine, and KONGSBERG. An increase in demand for small size and medium-sized vessels for fishing, passenger transport, and other maritime applications is expected to drive the market in Europe.
Some of the key players profiled in the Azimuth Thrusters Market include ZF Friedrichshafen AG Wuxi Ruifeng Marine Voith Turbo Veth Propulsion Thrustmaster, Steerprop, SCHOTTEL Group, Rolls-Royce, NGC, Kongsberg Gruppen ASA, Kawasaki, Jastram, IHI Power Systems Co., Ltd. (IPS)., Hydromaster, Caterpillar Inc., Cat Propulsion, Brunvoll AS, ABB Marine.
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