Over The Past Years, The Marine Shaft Power Meter Industry Has Exhibited Steady Growth

According to a recent Fact.MR study, over 1,900 units of a marine shaft power meter are likely to be sold in 2019. The growth of the marine shaft power meter market can be attributed to various factors including

• Growing seaborne trade that relies heavily on cargo carriers
• Development of technically advanced and cost-effective solution and increasing demand for new marine shaft power meter to optimize fuel saving
• Imposition of new regulations on the shipping industry to reduce greenhouse gas emission

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The study opines that cargo carriers hold a relatively larger share of the marine shaft power meter market than passenger’s vessels. More than 50% of volume sales of the marine shaft power meter were held by cargo carriers in 2018. This can be attributed to the efforts of ship owners in Germany, China, and Canada, toward strengthening their hold in the container space, in line with the upward trend of container-based shipping services in sea-borne trade.

Seaborne trade will continue to expand worldwide on the back of competitive freight cost, as carriers increasingly invest in large container vessels for realizing the supply and demand balance. Freight carriers are also making significant investments in green technologies, to comply with new regulations, and meet the logistics demands of companies that seek sustainable transport solutions.

The Fact.MR study estimates robust sales of the marine shaft power meter in cargo ships and tankers, along with steady demand from passenger vessels, including high-speed crafts, fishing vessels, and cruise liners. Adoption of marine shaft power meters in passenger vessels is underpinned by the requirement of optimum fuel consumption, and investigating engine performance, and shaft power measurement solutions.

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APEJ to Retain its Hegemony in Marine Shaft Power Meter Market

APEJ is expected to hold pole position in the marine shaft power meter market in 2019, with volume sales envisaged surpassing 1,000 units. Revenues from the marine shaft power meter market in Japan are expected to be relatively lower than APEJ. These regions with their flourishing shipping industry and increasing marine trade offer potential growth opportunities for marine shaft power meter manufacturers.

Developing countries in APEJ such as China and South Korea are highly lucrative markets for marine shaft power meter collectively accounting for over four-fifth volume share, finds Fact.MR study. The ongoing recovery of shipbuilding activities is a key factor driving demand for marine shaft power meters in these APEJ countries.

Segmentation by Category

• Application

  • Passenger Vessels
  • Cargo Carriers
  • Tankers
  • Container Ships
  • Other Cargo Ships
  • Other Vessels

• Display type

  • Analogue
  • Digital

• Sales Channel

  • OEM
  • Aftermarket

• Region

  • North America
  • Latin America
  • Europe
  • Middle East and Africa (MEA)
  • East Asia
  • South Asia
  • Oceania

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Crucial insights in the Marine Shaft Power Meter Market research:

• Underlying macro- and microeconomic factors impacting the growth of the Marine Shaft Power Meter Market Basic overview of the Marine Shaft Power Meter Market including market definition, classification, and applications.
• Scrutinization of each Marine Shaft Power Meter Market player based on mergers & acquisitions, R&D projects, and product launches.
• Adoption trend of Marine Shaft Power Meter Market across various industries.
• Important regions and countries offering lucrative opportunities to Metal Packaging Coatings Market stakeholders.

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