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Global Azimuth Thrusters Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Report, Forecast 2022-2027

The new report by Expert Market Research titled, ‘Global Azimuth Thrusters Market Size, Share, Trend, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global azimuth thrusters market, assessing the market based on its segments such as types, drive systems, applications, and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/azimuth-thrusters-market/requestsample 

The key highlights of the report include:

Market Overview (2017-2027)

  • Forecast CAGR (2022-2027): 5%

The global azimuth thrusters industry is expected to be driven by the growing need to maintain robust and efficient shipping fleets. Some major market drivers include an increase in investments for international seaborne trade, expansion in marine tourism, increased demand for azimuth thrusters from the new shipbuilding and repair sector, and so on.

Furthermore, increased marine trade and maritime tourism would result in increased demand for ships, which will fuel global market demand. Alternatively, a growing trend in the global market is a technological innovation in the maritime industry’s propulsion systems. This aspect is expected to fuel the worldwide market’s expansion to a large amount over the forecast period.

Industry Definition and Major Segments

Azimuth thrusters are propulsion devices with innovative propulsion mechanisms that outperform all classic and conventional propulsion systems. They are a type of propeller configuration in which the propeller is housed in ship pods that can rotate in any horizontal direction.

By type, the market is segmented into:

  • Less than 1500KW
  • 1500KW-3500KW
  • More than 3500KW

By drive system, the market is classified into:

  • Diesel Drive System
  • Electric Drive System
  • Hydraulic Drive System
  • Others

By application, the market is classified into:

  • Tugboat
  • Naval Ships
  • Recreational Boats
  • Offshore Support Vessel
  • Ferries and Freighter
  • Others

On the basis of region, the market is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

Among drive system segments, the electric drive segment is expected to account for the largest share in terms of revenue in the global market, owing to increasing demand for effective and efficient propulsion mechanisms. The naval ships segment, among application segments, is expected to account for a significant market share in the global market in terms of value attributable to the increased investment in the marine industry.

Azimuth PM thrusters are environmentally friendly; other benefits include a compact design, high energy efficiency, low maintenance, and less noise and vibration. Such benefits offered by advancements in technology are expected to stimulate market growth.

Key Market Players

The major players in the market are Kongsberg Gruppen ASA, ABB Ltd., SCHOTTEL Group, Brunvoll AS, ZF Friedrichshafen AG, and Caterpillar Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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