Global Azimuth Thrusters market will reach 780 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/5

An azimuth thruster is a configuration of marine propellers placed in pods that can be rotated to any horizontal angle (azimuth), making a rudder unnecessary. These give ships better maneuverability than a fixed propeller and rudder system.

At present, the manufactures of Azimuth Thrusters are concentrated in Europe and Japan. Europe is the largest production area in the world, which occupied about 72.89% in 2016. The following areas are Japan, China and the USA. The global leading players in this market are Rolls-Royce, SCHOTTEL Group, Niigata Power Systems , Cat Propulsion, Brunvoll, etc.

Despite the presence of competition problems, due to the increasing demand of leading-edge, effective products, investors are still optimistic about this area, the future will still have more new investment enter the field. In the next five years, the consumption volume will keep increasing, as well as the consumption value.

The Azimuth Thrusters market was valued at 690 Million US$ in 2017 and is projected to reach 780 Million US$ by 2025, at a CAGR of 1.5% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Azimuth Thrusters.

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