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Marine Gearbox Market Trends

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

Marine Gearbox Market Trends

The marine gearbox is witnessing significant technological advancements. New materials, lubricants, and gearbox designs are resulting in a considerable increase in efficiency. This also results in decreased fuel usage for vessels, which is a significant gain given the growing cost of fuel and tougher environmental laws. More fuel-efficient gearboxes may dramatically cut a ship's operational expenses over time, making them a desirable investment for shipbuilders.
 

Advancements in gear design, lubrication systems, and control technologies are resulting in gearboxes that deliver better power transfer, smoother operation, and more responsiveness. This correlates to improved overall vessel performance, including greater cruise speeds, increased towing capacity, and improved agility, particularly for difficult maneuvers in congested ports in adverse conditions.
 

For instance, in September 2022, Caterpillar Marine launched two new solutions, the Cat MPC100 and MPC300 solutions. These systems provide reliable and precise control of engines and transmissions, even in harsh marine environments. They offer ergonomic control levers with customizable tops to blend with yacht interiors, extensive integration capabilities to control additional yacht systems such as displays, and built-in redundancy and backup control to ensure uninterrupted operation.

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.

Marine Gearbox Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 300
  • Countries covered: 22
  • Pages: 250
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