Azimuth Thrusters Market Size Worth $592.86 Million By 2032 | CAGR: 1.3%

The Global azimuth thrusters market size is expected to reach USD 592.86 million by 2032, according to a new study by Polaris Market Research. The report “Azimuth Thrusters Market Share, Size, Trends, Industry Analysis Report, By Type (Less than 1500 KW, 1500 KW-3500 KW, and More than 3500 KW); By Drive System; By Vessel; By End Use; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Market expansion is expected to fuel by ship owners using azimuth thrusters more frequently to increase speed. Azimuth thrusters deliver the necessary thrust in the intended direction in navy ships, improving maneuverability over rudder systems and fixed propellers. Thrusters are utilized mainly by marine vessels for dynamic positioning. These thrusters keep their locations by combating external impediments like wind and waves.

The speed of maritime ships has increased. They are primarily employed in tugs, workboats, cargo vessels, icebreakers, naval vessels, and offshore supply vessels. Ship owners are widely using these cutting-edge thrusters because they offer improved mobility. It promotes market expansion by providing both high operational dependability and simple maintenance.

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New trends in the market include the introduction of thrusters with cutting-edge technology and the creation of propulsion systems for naval vessels with minimal carbon emissions. Over the forecast period, the market is expected to expand significantly due to increased expenditure on acquiring new warships and increased capitalization on the modernization of naval vessels.

Azimuth Thrusters Market Report Highlights

• The market for the 1500 KW-3500 KW is expected to grow at a significant CAGR over the study period, primarily due to the use of the thrusters in the survey and cargo ships.
• The electric drive system segment is anticipated to be the largest due to the increasing demand for lightweight vessels.
• During the forecast period, the naval ships category is expected to maintain its market dominance due to an increase in the demand for submarines, surveillance ships, and tugboats.
• The OEM segment is expected to grow due to the booming investments in the naval sector, the acquisition of unique vessels, and the rapid expansion of the seaborne freight trade.
• Asia Pacific dominated the market in 2021 and held the greatest market share owing to the rapid expansion of the shipbuilding sector and the rising production of naval vessels by developing countries like China & India.
• The global key market players include ABB, Brunvoll, Caterpillar, Hydromaster, IHI Power Systems, Jastram, and Kawasaki Heavy Industries.

Polaris Market Research has segmented the Azimuth Thrusters report based on type, drive system, vessel type, end-use, application, and region:

Azimuth Thrusters, Type Outlook (Revenue - USD Million, 2019 - 2032)

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

Azimuth Thrusters, Drive System Outlook (Revenue - USD Million, 2019 - 2032)

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

Azimuth Thrusters, Vessel Type Outlook (Revenue - USD Million, 2019 - 2032)

• Offshore Drilling
• Naval Ships
• Recreational Boats
• Offshore Wind Farms (CTVs, SOVs)
• Others

Azimuth Thrusters, End Use Outlook (Revenue - USD Million, 2019 - 2032)

• OEM
• Aftermarket

Azimuth Thrusters, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa