SHARE
Azimuth Thrusters Market

Azimuth Thrusters Market Forecasts to 2028 - Global Analysis By Type (Less than 1500KW, 1500KW-3500KW), Drive System (Hydraullic Drive System, Electric drive System), Vessel Type (Merchant & Naval Ships, Offshore Drilling) and By Geography

4.5 (17 reviews)
Published: September 2022 ID: SMRC21817
4.5 (17 reviews)
Published: September 2022 ID: SMRC21817

This report covers the impact of COVID-19 on this global market
Loading...

According to Stratistics MRC, the Global Azimuth Thrusters Market is accounted for $515.89 million in 2022 and is expected to reach $633.80 million by 2028 growing at a CAGR of 3.5% during the forecast period. 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.

According to the United Nations Conference on Trade and Development (UNCTAD) maritime transport report 2021, the international maritime trade is estimated to increase by 4.3%. In 2020, the global commercial shipping fleet increased by 3% and reached 99,800 ships of 100 gross tons and above. By January 2021, the capacity was nearly equivalent to 2.13 billion dead weight tons (dwt).

Market Dynamics:

Driver:

Capability to boost speed of naval ships

As it is widely used in marine vessels as they deliver the required thrust in suitable directions. They further deliver those ships with better maneuverability, unlike the rudder systems and fixed propellers. They are also used for the ships’ dynamic positioning in order to make them pass smoothly through harsh climatic conditions, such as waves and winds. Also, azimuth thrusters are capable of enhancing the speed of naval ships. Hence, they are adopted in icebreakers, workboats, cargo vessels, offshore supply vessels, and tugs.

Restraint:

High cost

Due to high maintenance cost connected with replacing the conventional thrusters hampers the growth of the market. There is huge cost engaged in modernization and upgrading of progressive thrusters. Hence, the requirement of promoted it in naval vessels obstructs the market growth.

Opportunity:

Increase in the investments for international seaborne trade

Development in maritime tourism, increased demand for azimuth thrusters from the new shipbuilding & repair market, etc. are creating ample opportunities for the market. Moreover, increasing maritime trade and maritime tourism will consequently have led to the rise in the demand for ships, which, in turns, motivates the market demand globally.

Threat:

Low product life

As its product is complicated and repairs should be done, carry out checks and some routine maintenance. Additionally, timely maintenance coupled with low product life is other major factors expected to threaten the growth of the global market over the forecast period.

Impact of Covid- 19

The current global outbreak of COVID-19, followed by lockdowns across several economies is impacting almost all industries. This crisis is expected to continue in the upcoming months due to currently suspended trade across various economies. The marine industry has been impacted severely owing to the COVID-19 pandemic. Investments in the shipbuilding sector have declined.

The Original Equipment Manufacturer (OEM) segment is expected to be the largest during the forecast period

The Original Equipment Manufacturer (OEM) segment is expected to be the largest during the forecast period, owing to increasing investments in the naval sector, procurement of new vessels, and rapid growth in the seaborne cargo trade. The rising number of procurement contracts between ship owners and OEMs boosts the segment growth.

The 1500KW-3500KW segment is expected to have the highest CAGR during the forecast period

The 1500KW-3500KW segment is expected to have the highest CAGR during the forecast period, owing to the increasing usage of these thrusters in survey & cargo vessels. Moreover, the increasing maritime trade is surging the number of cargo vessels worldwide.

Region with highest share:

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.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the rapid extension of the shipbuilding industry and growing attainment of naval vessels from developing nations such as China and India. Furthermore, rising demand for tugboats and offshore support vessels across countries such as China, India, Malaysia, etc.

Key players in the market

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.

Key Developments:

In September 2019: Kongsberg signed an agreement with Damen Shipyards to offer the Kongsberg Maritime solution to the SeaDream Yacht Club cruise line. It is fully integrated and valued at USD 21.5 million.

In May 2020: Richardson Devine Marine (RDM) launched its Incat Crowther design vessel to Sealink Tasmania, a leading ferry owner. SCHOTTEL provided its unique propulsion solutions to an all-aluminium ferry named Nairana.

Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises

Types Covered:
• Less than 1500KW
• 1500KW-3500KW
• More than 3500KW

Drive Systems Covered:
• Hydraullic Drive System
• Electric drive System
• Diesel Drive System

Vessel Types Covered:
• Merchant & Naval Ships
• Offshore Drilling
• Recreational Boats
• Offshore Wind Farms (Closed-Circuit Television (CCTV's), Share of voice SOV's)

Propeller Configurations Covered:
• Thrust Performance
• Shallow Draught Performance
• Sailing Performance

Transmissions Covered:
• Welded
• Retractable Thrusters
• Mechanical (L drive, Z drive)
• Hull Interfaces
• Electrical (Azipush, Azipull)
• Bolted

Applications Covered:
• Tugboat
• Recreational Boats
• Offshore Support Vessel
• Naval Ships
• Ferries and Freighter

End Users Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Azimuth Thrusters Market, By Type
5.1 Introduction
5.2 Less than 1500KW
5.3 1500KW-3500KW
5.4 More than 3500KW

6 Global Azimuth Thrusters Market, By Drive System
6.1 Introduction
6.2 Hydraullic Drive System
6.3 Electric drive System
6.4 Diesel Drive System

7 Global Azimuth Thrusters Market, By Vessel Type
7.1 Introduction
7.2 Merchant & Naval Ships
7.3 Offshore Drilling
7.4 Recreational Boats
7.5 Offshore Wind Farms (Closed-Circuit Television (CCTV's), Share of voice SOV's)

8 Global Azimuth Thrusters Market, By Propeller Configuration
8.1 Introduction
8.2 Thrust Performance
8.3 Shallow Draught Performance
8.4 Sailing Performance

9 Global Azimuth Thrusters Market, By Transmission
9.1 Introduction
9.2 Welded
9.3 Retractable Thrusters
9.4 Mechanical (L drive, Z drive)
9.5 Hull Interfaces
9.6 Electrical (Azipush, Azipull)
9.7 Bolted

10 Global Azimuth Thrusters Market, By Application
10.1 Introduction
10.2 Tugboat
10.3 Recreational Boats
10.4 Offshore Support Vessel
10.5 Naval Ships
10.6 Ferries and Freighter

11 Global Azimuth Thrusters Market, By End User
11.1 Introduction
11.2 Original Equipment Manufacturer (OEM)
11.3 Aftermarket

12 Global Azimuth Thrusters Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa

13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies

14 Company Profiling
14.1 ZF Friedrichshafen AG
14.2 Wuxi Ruifeng Marine
14.3 Voith Turbo
14.4 Veth Propulsion
14.5 Thrustmaster
14.6 Steerprop
14.7 SCHOTTEL Group
14.8 Rolls-Royce
14.9 NGC
14.10 Kongsberg Gruppen ASA
14.11 Kawasaki
14.12 Jastram
14.13 IHI Power Systems Co., Ltd. (IPS).
14.14 Hydromaster
14.15 Caterpillar Inc.
14.16 Cat Propulsion
14.17 Brunvoll AS
14.18 ABB Marine

List of Tables
1 Global Azimuth Thrusters Market Outlook, By Region (2020-2028) (US $MN)
2 Global Azimuth Thrusters Market Outlook, By Type (2020-2028) (US $MN)
3 Global Azimuth Thrusters Market Outlook, By Less than 1500KW (2020-2028) (US $MN)
4 Global Azimuth Thrusters Market Outlook, By 1500KW-3500KW (2020-2028) (US $MN)
5 Global Azimuth Thrusters Market Outlook, By More than 3500KW (2020-2028) (US $MN)
6 Global Azimuth Thrusters Market Outlook, By Drive System (2020-2028) (US $MN)
7 Global Azimuth Thrusters Market Outlook, By Hydraullic Drive System (2020-2028) (US $MN)
8 Global Azimuth Thrusters Market Outlook, By Electric drive System (2020-2028) (US $MN)
9 Global Azimuth Thrusters Market Outlook, By Diesel Drive System (2020-2028) (US $MN)
10 Global Azimuth Thrusters Market Outlook, By Vessel Type (2020-2028) (US $MN)
11 Global Azimuth Thrusters Market Outlook, By Merchant & Naval Ships (2020-2028) (US $MN)
12 Global Azimuth Thrusters Market Outlook, By Offshore Drilling (2020-2028) (US $MN)
13 Global Azimuth Thrusters Market Outlook, By Recreational Boats (2020-2028) (US $MN)
14 Global Azimuth Thrusters Market Outlook, By Offshore Wind Farms (Closed-Circuit Television (CCTV's), Share of voice SOV's) (2020-2028) (US $MN)
15 Global Azimuth Thrusters Market Outlook, By Propeller Configuration (2020-2028) (US $MN)
16 Global Azimuth Thrusters Market Outlook, By Thrust Performance (2020-2028) (US $MN)
17 Global Azimuth Thrusters Market Outlook, By Shallow Draught Performance (2020-2028) (US $MN)
18 Global Azimuth Thrusters Market Outlook, By Sailing Performance (2020-2028) (US $MN)
19 Global Azimuth Thrusters Market Outlook, By Transmission (2020-2028) (US $MN)
20 Global Azimuth Thrusters Market Outlook, By Welded (2020-2028) (US $MN)
21 Global Azimuth Thrusters Market Outlook, By Retractable Thrusters (2020-2028) (US $MN)
22 Global Azimuth Thrusters Market Outlook, By Mechanical (L drive, Z drive) (2020-2028) (US $MN)
23 Global Azimuth Thrusters Market Outlook, By Hull Interfaces (2020-2028) (US $MN)
24 Global Azimuth Thrusters Market Outlook, By Electrical (Azipush, Azipull) (2020-2028) (US $MN)
25 Global Azimuth Thrusters Market Outlook, By Bolted (2020-2028) (US $MN)
26 Global Azimuth Thrusters Market Outlook, By Application (2020-2028) (US $MN)
27 Global Azimuth Thrusters Market Outlook, By Tugboat (2020-2028) (US $MN)
28 Global Azimuth Thrusters Market Outlook, By Recreational Boats (2020-2028) (US $MN)
29 Global Azimuth Thrusters Market Outlook, By Offshore Support Vessel (2020-2028) (US $MN)
30 Global Azimuth Thrusters Market Outlook, By Naval Ships (2020-2028) (US $MN)
31 Global Azimuth Thrusters Market Outlook, By Ferries and Freighter (2020-2028) (US $MN)
32 Global Azimuth Thrusters Market Outlook, By End User (2020-2028) (US $MN)
33 Global Azimuth Thrusters Market Outlook, By Original Equipment Manufacturer (Original Equipment Manufacturer (OEM)) (2020-2028) (US $MN)
34 Global Azimuth Thrusters Market Outlook, By Aftermarket (2020-2028) (US $MN)

Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

Select License Type

Allows one person to have access to the ordered product.The ordered product cannot be distributed to anyone else.
Allows the ordered product to be shared among a maximum of 5 people within your organisation.
Allows the product to be shared among all employees of your organisation at one particular location.
Allows the product to be shared among all employees of your organisation regardless of their geographical location.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials