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Marine Gearbox Market Share

Report ID: GMI9775
Published Date: Jun 2024
Report Format: PDF

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Marine Gearbox Market Share

ZF Friedrichshafen AG, Rexroth (Bosch Group) and Rolls-Royce Power Systems AG holds a significant share of over 17% in marine gearbox industry, Rexroth invests in research and development to continually innovate and improve its marine gearbox offerings. They develop gearbox solutions featuring higher torque capacity, increased efficiency, and reduced noise and vibration levels, addressing the evolving needs of their customers.

ZF Friedrichshafen AG focuses on specific market segments within the marine industry, including commercial shipping, offshore vessels, and naval applications. They develop customized gearbox solutions that meet the unique requirements and operational challenges of customers in each segment.

Marine Gearbox Market Companies

Major companies operating in the marine gearbox industry are:

Baker Hughes
Dana Incorporated
Renk AG
Rexroth (Bosch Group)
Rolls-Royce Power Systems AG
Wärtsilä Corporation
ZF Friedrichshafen AG

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of marine gearbox reached USD 6.8 billion in 2023 and is set to witness 5% CAGR between 2024 and 2032, owing to the advancements in technologies and development of innovative products.

The single-engine segment accounted for over 68% share and is expected to exceed USD 7.4 billion by 2032, as single engine installations are naturally simpler and less costly than multi-engine designs.

Europe market held over 44% share in 2023, attributed to the increased disposable incomes and the growing interest in water-based leisure activities.

Baker Hughes, Dana Incorporated, Renk AG, Rexroth (Bosch Group), Rolls-Royce Power Systems AG, Wärtsilä Corporation, and ZF Friedrichshafen AG.