- Datum Electronics Ltd. has entered into a partnership with Intertech B.V. Under the agreement, Intertech will represent Datum’s products in different areas including torque transducers, marine shaft power meters, torque meters, torque sensors, and wind turbine condition monitoring systems. Datum Electronics also received a contract from Oldendorff Carriers to supply a shaft power meter system.
- Kongsberg Gruppen, the Norway-based supplier of high-technology systems, plans to acquire Rolls-Royce Commercial Marine. The acquisition includes marine products, systems, and aftermarket service business carried by subsidiaries of Rolls-Royce plc. The deal will have an enterprise value of GBP 500 million.
- Aalberts Industries NV acquired a 100% share of VAF Instruments B.V. The name of the company, management, products, and solutions of VAF will remain unchanged.
- Hoppe Marine GmbH has opened its new office in Singapore. Hoppe Singapore will provide sales and services to ship owners, operators, shipyards, and ship design offices in the region.
The marine shaft power meter market report provides a detailed profile of the leading players including Shoyo Engineering Co., Ltd, Hoppe Marine GmbH, Datum Electronics Limited, Kongsberg Maritime (Kongsberg Gruppen), Aquametro Oil & Marine AG, Trelleborg Marine Systems, Kyma A.S., VAF Instruments BV, and other prominent players.
Marine Shaft Power Meter Market Remain Consolidated among Tier 1 Players
Tier 1 players hold nearly 1/3rd of the share in the marine shaft power meter market. The success of tier 1 players can be attributed to the production of technologically advanced products and their robust distribution network. Leading players in the market are also focusing on strategic partnerships and mergers and acquisitions.
Tier 2 and tier 3 players are focusing on the development and launch of new products. The development of cost-effective products, leading to the reduction of fuel consumption is one of the key strategies of tier 2 and tier 3 players to retain their position in the marine shaft power meter market.
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Significant Growth in Marine Transport Driving Demand
Global maritime trade expanded at 4% in 2017, witnessing the fastest growth in five years, according to the United Nations Conference on Trade and Development (UNCTAD). Companies in Canada, Greece, and China are adding new containerships to their fleet. The growing prominence of developing countries in global seaborne trade flows in terms of both exports and imports is also creating significant opportunities for stakeholders.
The reduction of greenhouse gas emissions from ships remains a key focus area for the global shipping industry. The broader aims of reducing total annual greenhouse gas emission by at least 50% by 2050 will entail a change in the existing status-quo. To achieve target reduction in emissions, the use of marine shaft power meters and new devices by ship-owners and operators is growing significantly.
The growing use of watercraft for transportation and recreation is also driving the adoption of marine shaft power meters. On account of growing demand in the shipping industry, manufacturers are concentrating on developing new cost-efficient marine shaft power meters with higher safety and eco-friendly technologies.
Shipowners are considering the inclusion of efficiency measures such as optimizing shaft power and speed, and other measures to comply with MRV regulation that recently came into force in Europe.
Adoption of Smart Marine Shaft Power Meter Systems Growing
Fuel charges remain a key operational cost for the shipping industry, accounting for over 40% of shipping costs. Unsurprisingly, the focus has shifted to adopting energy-efficient products and solutions. Key players in the marine shaft power meter market are focusing on developing smart shaft power meters to gain critical data pertaining to propulsion shaft, engine, and propeller performance.
High accuracy, low maintenance, and optimization of energy is a key development focus area of manufacturers. Ship energy efficiency with a real-time optimization model has emerged as a cornerstone in marine shaft power meter manufacturing, which is paving lucrative opportunities for manufacturers.
A new touchscreen digital display system for data and diagnostics for marine shaft power meters by manufacturers has gained traction as part of a continuous product improvement program.
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High Cost of Development to Remain Longstanding Challenge
Growing demand for cost-efficient, technologically advanced, and high safety marine shaft power meters is an emerging challenge for manufacturers resulting in high development costs. Reducing product cost and improving system functionality features are major objectives of the manufacturers.
Sales of the marine shaft power meter is highly reliant upon cost competitiveness as the majority of the sales are to shipbuilders working on fixed price build contracts. Introducing new technologies and features along with the cost competitiveness in the market is one of the biggest challenges for marine shaft power meter manufacturers.
Adoption of new component development technologies, reducing the complexity of overall system design along with reducing the cost and time required for the manufacturing process is one of the key focus areas of manufacturers. Companies are also focusing on reducing the circuit board size to achieve significant cost reduction.
Market players are further focusing on improving flexibility, with shaft power system tailoring to meet specific customer requirements, thereby, improving sales potential.
The marine shaft power meter helps to accurately measure the power transmitted through the shaft. This enables measuring the actual power delivered by engine to propeller or a generator.
Shaft power meter in a marine system is gaining traction by reducing running cost from equipment production, improved maintenance scheduling, and fuel saving. It measures speed, shaft torque, and power. It is suitable for all commercial vessels with both single or multiple shaft installations.
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About the Report
The report on the marine shaft power meter market offers key insights, in-depth analysis, along with the historic data and forecast on the market. Important factors impacting the marine shaft power meter market growth are also covered in the report.
Market dynamics including drivers, latest trends, challenges, and growth opportunities in the marine shaft power meter market across different regions is also included in the report.
The study on the marine shaft power meter market also focuses on the segment-wise analysis and region-wise analysis of the marine shaft power meter market. Competitive analysis along with the details on the leading market players is also provided in the report.
New developments along with the current scenario in the marine shaft power meter market are also included in this report.
The report on the marine shaft power meter market provides a segment-wise analysis of the market.
The marine shaft power meter market is segmented on the basis of application, sales channel, and display type. These segments are further divided into sub-segments to offer insights and in-depth analysis of the market.
Based on the application, the marine shaft power meter market is segmented into passenger vessels, cargo carriers (tankers, container ships, and other cargo carriers), and other vessels.
On the basis of display type, the marine shaft power meter market segmentation includes, digital display and analogue display. Based on the sales channel, the marine shaft power meter market is segmented into OEM and aftermarket sales channel.
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Additional Questions Answered
Along with the exclusive insights on the marine shaft power meter market, the report also provides answers to some of the important questions on the marine shaft power meter market.
- Which display type is likely to gain the highest revenue share in the marine shaft power display market?
- What will be the market share of North America in the marine shaft power meter market?
- What will be the volume share of cargo carriers in the marine shaft power meter market?
- Which sales channel is expected to hold maximum revenue share in the marine shaft power meter market?
- What factors are anticipated to hamper the growth of the marine shaft power meter market?
The extensive research methodology is used to develop marine shaft power meter market report. Important data and information is provided by the researchers on the market along with the historical data and forecast.
Analysts have used primary as well as secondary research methodologies to gather exclusive data and information on the marine shaft power meter market. The data collected on the market is cross-checked with valid data sources and with insights provided during interviews with industry experts.
The report also offers details on the current scenario in the marine shaft power meter market along with the trends and opportunities. Competitive landscape along with details on companies is included in the report to help readers plan business strategies.
The latest report on the marine shaft power meter market by Fact.MR offers actionable insights, along with the in-depth analysis of the marine shaft power meter market. Historical data and forecast on the market is also covered in the report. Major factors influencing the growth of the marine shaft power meter market are highlighted in the study. The report provides micro and macro-economic factors playing important role in the marine shaft power meter market.
Market dynamics such as the latest trends, opportunities, drivers, and key challenges in the marine shaft power meter market are also included in this report.
The report also focuses on segment-wise analysis and region-wise analysis including key countries in the market. Competitive landscape in the marine shaft power meter market is also provided in this report.
Chapter 1- Executive Summary
This chapter of the report provides market summary along with analysis summary on the marine shaft power meter market. Opportunity assessment and mega trends in the marine shaft power meter market is also offered in this chapter.
Chapter 2- Marine Shaft Power Meter Market Overview
This section of the report offers brief introduction to the marine shaft power meter market. Product specific definition of marine shaft power meter is also included in this chapter. The report also provides details on the scope of the report along with the market taxonomy.
Chapter 3- Key Indicator Assessment
This chapter offers market outlook on the shipbuilding industry along with the growth in the key regions and countries. Important details on the leading shipbuilding companies is also included in the report. Demand outlook on marine vessels based on the key regions is provided in the chapter. The report also focuses on the marine transportation sector outlook in key regions.
Chapter 4- Market Dynamics
Macro-economic factors influencing the demand are provided in this chapter of the report. Impact analysis along with the key growth drivers in the marine shaft power meter market are also included in the report.
The chapter also focuses on industry challenges along with the forecast factors and relevance of impact. PESTAL analysis, supply chain analysis, and Porter’s five force analysis of the marine shaft power meter market are also covered in the report.
Chapter 5- Marine Shaft Power Meter Market- Price Point Analysis
This chapter in the report provides price forecast till 2028 along with the price point assessment by region and vessel type.
Chapter 6- Marine Shaft Power Meter Market Analysis and Forecast
This section of the report offers the global market outlook including market value and volume forecast and analysis. Segment-wise analysis of the marine shaft power meter market is also included in the report. Key segments in the market are sales channel, application, and display type.
The key segments in the marine shaft power meter market are again bifurcated into the sub-segments. Data in terms of value, volume, CAGR, and year-on-year growth on each segment is covered in this chapter.
Chapter 7- North America Marine Shaft Power Meter Market Analysis
This chapter of the report includes introduction and market outlook on the marine shaft power meter market in North America. Country-wise analysis including demand assessment and value and volume share of key countries in North America is offered in this chapter.
The report also provides In-depth analysis of the marine shaft power meter market in North America based on application, display type, and supply chain.
Chapter 8- Marine Shaft Power Meter Market in Latin America
This chapter focuses on the ongoing scenario in the marine shaft power meter market in Latin America.
The report highlights all the major factors driving the marine shaft power meter in key countries in the region. Market volume and value share by major countries in Latin America is also offered in the report.
Chapter 9- Europe Marine Shaft Power Meter Market Analysis
The report covers all the trends, opportunities, and factors driving the marine shaft power meter market in Europe.
Value and volume forecast on each segment including display type, sales channel, and application in Europe is included in this chapter. Important information on the key countries contributing to the growth of the marine shaft power meter in Europe are also provided in the report.
Chapter 10- Marine Shaft Power Meter Market in CIS & Russia
This chapter in the report offers business outlook in the marine shaft power meter market in CIS & Russia. Factors impacting demand and supply in the region are also covered in this report.
Chapter 11- Japan Marine Shaft Power Meter Market Analysis
This section of the report offers outlook on the market in Japan. Market dynamics including challenges, drivers, opportunities, and trends in the marine shaft power meter market in Japan are focused in the report. Market share based on the key segments including sales channel, display type, and application in Japan is offered in this chapter.
Chapter 12- Marine Shaft Power Meter Market in APEJ
This chapter of the report provides key insights on the marine shaft power meter market in APEJ. Country-wise analysis including value and volume share by countries is included in the report.
Chapter 13- MEA Marine Shaft Power Meter Market Analysis
This chapter focuses on the factors influencing the growth of the marine shaft power meter market in MEA. Year-on-year growth along with the volume and revenue share by key countries in the marine shaft power meter market in MEA is included in this chapter.
Chapter 14- Competitive Analysis
The report offers market structure including all the leading players operating in the marine shaft power meter market. A dashboard view of the key companies and company share analysis is also provided in this chapter.
Chapter 15- Company Profile
This chapter in the report provides detailed profiles of the key players in the marine shaft power meter market. Presence across globe, product overview, SWOT analysis, and key financials of all the key companies is included in the chapter.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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