Marine shaft power meters are a key technology in monitoring vessel performance, and are gaining fast traction with the marine industry getting back to its feet after the shockwaves of the COVID-19 pandemic. Additionally, rise in cases of power failure and increase in overall maintenance costs are pushing the demand curve for marine shaft power meters upward. While the United Nations Conference on Trade and Development (UNCTAD) report published in November 2020 indicates maritime trade growth of 4.8% by the end of 2021, the latest updated report by Fact.MR provides insights on upcoming opportunities awaiting stakeholders in this industry.
According to the study, adoption of a variety of displays, both, digital and analogue, is catering to the growth of manufacturers, while high potential in countries such as the United States, Germany, Italy, France, China, and India will take the center stage for stakeholders over the forecast period of 2021 to 2031.
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Segmentation by Category
- Passenger Vessels
- Cargo Carriers
- Container Ships
- Other Cargo Ships
- Other Vessels
- Display type
- Sales Channel
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
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Report Benefits & Key Questions Answered
- Analogue Marine Shaft Power Meter Company & brand share analysis: The report offers in-depth Analogue Marine Shaft Power Meter brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
- Analogue Marine Shaft Power Meter Historical volume analysis: The report offers a comparative analysis between historic sales of Analogue Marine Shaft Power Meter and projected sales performance for 2021-2031
- Analogue Marine Shaft Power Meter Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
- Analogue Marine Shaft Power Meter Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
- Post COVID consumer spending on Analogue Marine Shaft Power Meter: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power
Competition in the global marine shaft power meter market is getting stronger with each passing year. In order to remain in key positions, market players are more frequently launching new products.
- VAF Instruments BV launched its new extensive range of shaft power thrust meters, shaft power torque meters, and others, in recent years.
- Kyma A.S. launched its new Kyma Shaft Power Meter, an instrument for continuous measurement of torque, thrust, revolutions, and power on a rotating shaft, in 2019.
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Key Takeaways from Study
- High demand for marine shaft power meters in cargo carriers
- Growing demand for digital displays to fuel sales
- OEM sales channel to have major contribution to growth of market
- The United States to lead in the world’s largest marine shaft power meter industry – North America
- Germany to dominate the world’s second-largest market – Europe
- China to remain the most lucrative country in the world’s fastest-growing market for marine shaft power meters – Asia Pacific
- France, Japan, India, the United Kingdom, Mexico, and a few other countries to maintain positive market outlooks throughout the forecast period
“With the global maritime industry coming back on its feet, requirement for marine shaft power meters is set to gain momentum over the coming years. Furthermore, rise in adoption in passenger vehicles, tankers, and container ships will contribute in raising the revenue of manufacturers,” says a Fact.MR analyst.