Report Code: A11737 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Marine Shaft Power Meter Market
Request Now !A marine shaft power meter is the key technology that measures real time torque, power, and speed of marine shaft. Marine shaft power meter works using a strain gage to measure torque and a tachometer to measure shaft speed. Power is calculated by combining speed and torque in a simple equation. Global maritime trade has witnessed the fastest growth in last five years, according to the United Nations Conference on Trade and Development (UNCTAD). Growth and expansion in maritime trade will lead to lucrative growth of whole marine industry. The growing use of water crafts for trade and leisure recreation is also driving the adoption of marine shaft power meter market. Fleet owners are considering inclusion of efficiency measures such as optimizing shaft power and speed, and other measures to meet mandatory MRV regulation that recently came into force in Europe. Hence the global marine shaft power meter market will grow considerably from 2021-2030.
COVID-19 Impact analysis
The lockdown period after the outbreak of the COVID-19 pandemic has impacted marine shaft power meter market tremendously. The manufacturing and production units were shut during lockdown in most of the countries which resulted to decline in the production and demand for marine shaft power meter. Almost 80% of the global trade is carried by sea routes. Due to imposition of lockdown and COVID-19 containment policies, trade via sea route was also halted for the time being. Open-ups will help marine shaft power meter market to regain the growth and brighter future prospects. Significant growth can be observed during the forecast period.
Top Impacting Factors
Market Trends
Stringent emission norms to reinforce the demand
Reduction of greenhouse gas emission from fleets remains a key area for the global shipping industry. The broader aims of reducing total annual greenhouse gas emission by minimum of 50% in next 3 decades will entail a change in existing status-quo. To achieve target reduction in emissions, the use of advance marine shaft power meter and new devices by fleet-owners and operators is growing significantly. Owners of ships are considering inclusion of efficiency measures such as optimizing shaft power and speed, and other measures to comply with MRV regulation that recently came into force in European commission.
Marine trade pushing the market
Global maritime trade expanded at 4% in 2017, with being the fastest growth in five years, according to the United Nations Conference on Trade and Development (UNCTAD). Companies in countries such as Greece, Canada and China are adding new container ships to their fleet. The growing eminence of developing countries in global seaborne trade flows in both exports and imports is also creating significant opportunities for stakeholders more specifically OEMs.
Key Benefits of the Report
Questions answered in the marine shaft power meter market research report:
Marine Shaft Power Meter Market Report Highlights
Aspects | Details |
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By Vessel Type |
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By Display Type |
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By Sales Channel |
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By Region |
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Key Market Players | Kongsberg Maritie, Kyma AS, Aalberts Industries (VAF Instruments), Trelleborg Marine Systems, Shoyo Engineering, Datum Electronics, Aquametro Oil & Marine, Hoppe Marine |
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