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2022
Marine Shaft Power Meter Market

Marine Shaft Power Meter Market by Vessel Type (Passenger vessels, Cargo carriers, Tankers, Container Ships and others), and Display Type (Digital Display and Analog Display), By Application (OEMs and Aftermarket)): Global Opportunity Analysis and Industry Forecast, 2021–2030

A11737
Pages: NA
Sep 2022 | 1237 Views
Author(s) : Sonia Mutreja
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Marine Shaft Power Meter Market Outlook - 2030

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.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Vessel Type, display type, sales channel, and region

  Regions Covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific, LAMEA (Latin America, Middle East and Africa)

  Companies Covered

Hoppe Marine, Trelleborg Marine Systems, Kongsberg Maritie, Datum Electronics, Shoyo Engineering, Aalberts Industries (VAF Instruments), Kyma AS, Aquametro Oil & Marine.

 

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

  • To achieve target reduction in greenhouse gas emissions, the use of marine shaft power meter and new devices by ship-owners and operators is growing consistently which gives global marine shaft market an opportunity.
  • The growing prominence of developing countries in global seaborne trade flows in terms of both exports and imports is driving global marine shaft power meter market.
  • Rising demand for cost-efficient, technologically advanced, and safe marine shaft power meter is a challenge for manufacturers resulting in high development cost in cost competitive market.

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 Segments Covered

Segment

Sub-segment

  By Vessel Type

  • Passenger vessels
  • Cargo carriers
  • Tankers
  • Container ships
  • Others

  By Display Type

  • Digital display
  • Analogue display

  By Sales Channel

  • OEM
  • Aftermarket

  Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

 

Key Benefits of the Report

  • This study presents the analytical depiction of the marine shaft power meter industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the marine shaft power meter market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the marine shaft power meter market growth scenario.
  • The report provides a detailed marine shaft power meter market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the marine shaft power meter market research report:

  • Which are the leading market players active in the marine shaft power meter market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the marine shaft power meter market?
  • What are the projections for the future that would help in taking further strategic steps?

Key Market Segments & Key Market Players

Segments Sub-segments
By Vessel Type
  • Passenger vessels
  • Cargo carriers
  • Tankers
  • Container ships
  • Others
By Display Type
  • Digital display
  • Analogue display
By Sales Channel
  • OEM
  • Aftermarket
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Hoppe Marine, Trelleborg Marine Systems, Kongsberg Maritie, Datum Electronics, Shoyo Engineering, Aalberts Industries (VAF Instruments), Kyma AS, Aquametro Oil & Marine
 

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