Home > Automotive > Marine > Passenger Vessel Propeller Market

Passenger Vessel Propeller Market Trends

Report ID: GMI8950
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

Passenger Vessel Propeller Market Trends

The passenger vessel propeller industry is propelled by trends toward innovations in hydrodynamic design and a shift toward electric propulsion. Advancements in hydrodynamic design are resulting in propellers with improved efficiency and performance, meeting the demand for fuel-efficient solutions. Furthermore, the industry is transitioning towards electric propulsion systems, including electric propellers, to reduce emissions and reliance on fossil fuels. These trends are reshaping the market landscape, offering sustainable and high-performance propeller solutions to cater to the evolving needs of the maritime industry.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of passenger vessel propeller reached USD 701.6 million in 2023 and is set to witness 4% CAGR between 2024 and 2032, owing to technological advancements and regulations advocating for eco-friendly propulsion systems.

The fixed pitch propellers (FPP) segment is set to exceed USD 300 million by 2032, owing to their reliability and cost-effectiveness.

Asia Pacific passenger vessel propeller industry held a revenue share of over 37% in 2023, attributed to the region's thriving shipbuilding industry.

Caterpillar Marine, Duke Propulsion Technologies, Hyundai Heavy Industries Engine & Machinery, MAN Energy Solutions SE, Mecklenburger Metallguss GmbH, Nakashima Propeller Co., Ltd., Schottel Group, Teignbridge Propellers International Ltd., VEEM Marine.