Marine Shaft Power Meter Market By Application (Passenger Vessels, Cargo Carriers, Tankers, Container Ships, Other Cargo Ships), By Display type (Analogue, Digital), By Sales Channel (OEM, Aftermarket), By Region- Global Market Insights 2021 to 2031
Being an integral part of measuring real-time torque, speed, and power of marine shafts, marine shaft power meters hold high potential. While the COVID-19 pandemic substantially declined demand growth for this industry, currently, it’s going through a recovery phase with signs of further expansion. The latest edition of the marine shaft power meter market study by Fact.MR offers a thorough analysis of the latest trends and shifted demand-supply patterns for the post-pandemic years. The study also expands on the previous competitive landscape section, and readers will get to know the key strategies of established players as well as new entrants in this space.
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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.
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
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“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.
Demand Rising for High Safety Marine Shaft Power Meters
Demand for high safety marine shaft power meters is getting prominent across diverse applications such as cargo carriers, passenger vessels, and other cargo ships, due to their highly sought-after properties such as,
- Higher accuracy with horse power measurements
- Enhanced and more reliable performance in measuring torque, speed, and thrust
- Improved maintenance scheduling and fuel saving
- Excellent outcome in protecting equipment
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Who is Winning in this Space?
The global marine shaft power meter market is expanding steadily after getting over the restraints due to the COVID-19 pandemic. In order to excel in this industry, key players are launching broader category of products.
- Shoyo Engineering Co., Ltd launched its new SEC Shaft Horsepower Meter, equipped with a metal strip vibration method, a couple of years back.
- Hoppe Marine GmbH launched its new MAIHAK Shaft Power Meter, Fuel Consumption Measurement Solutions, and others, during the last 5 years.
Segmentation by Category
- Passenger Vessels
- Cargo Carriers
- Container Ships
- Other Cargo Ships
- Other Vessels
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the global marine shaft power meter market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of application (passenger vessels, cargo carriers, tankers, container ships, other cargo ships, and other vessels), display type (analogue and digital), and sales channel (OEM and aftermarket), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
The Marine Shaft Power Meter Market report answers important questions which include:
- What are some of the latent areas of investments in the Marine Shaft Power Meter market?
- Which region is expected to emerge as showing the most attractive growth rate during the forecast period and which factors will be crucial to its growth?
- What trends are likely to change the status quo of the positions held by leading players of the Marine Shaft Power Meter Market in the not-so-distant future?
- Which product/service/technology segments holds game-changing potential to dramatically shape the competitive dynamic in the Marine Shaft Power Meter market?
- What are the strategies adopted by top players to retain their stronghold in the Marine Shaft Power Meter market?
- Which strategic moves will new entrants adopt to gain a strong foothold in the Marine Shaft Power Meter market?
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