Global Marine Fin Stabilizer Market Size study, by Product Type (Retractable fin stabilizers, non-retractable fin stabilizers, Anchor or rest stabilizers) by Vessel Type (Passenger Vessels, Naval and Coast Guard Vessels, Fishing Vessels, Merchant Vessels) by Fit Type (First Fit, Retro Fit) and Regional Forecasts 2022-2028Global Marine Fin Stabilizer Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028.
Fin stabilizers provide resistance to the excess rolling of a ship in either direction and are helpful in better fuel and speed performance on rough seas, crew safety and operational efficiency. The stabilizers on a ship extend beyond both sides of the vessel under the water, preventing it from excessive rolling from side to side. This assists the ship in cutting through the water more effectively. Growing marine fleet size in post covid era and rising R&D activities and new product launches are key drivers for the growth of Marine Fin Stabilizer market.
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For instance, according to Baltic and International Maritime Council (BIMCO) (Bagsvaerd, Denmark based world’s largest international shipping association)- As of 2020 the LNG tanker fleet currently count 593 ships, and 85% of the fleet can be found within the cargo carrying capacity range of 100,000-200,000 cubic meters. Furthermore, as per projections LNG fleet would witness a compound annual growth rate (CAGR) of 6.7% between 2021 and 2025 and would reach to 819 ships at the end of 2025. In recent events in September 2020 SKF group, a Swedish bearing and seal manufacturing company has launched electrically powered, non-retractable, fin stabilizers, designed for luxury yachts measuring 55 metres.
Furthermore, in October 2021, Kongsberg Maritime company, has collaborated with Finnish shipyard Rauma Marine Constructions (RMC) to deliver propulsion and steering equipment. Also, with increasing cross border trade and growing maritime tourism in emerging economies, the adoption & demand for Marine Fin Stabilizer is likely to increase the market growth during the forecast period. However, decline in Maritime trade due to pandemic restrictions impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Marine Fin Stabilizer Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share owing to growing cross border trade and presence of leading manufacturers in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as growing Maritime Trade in the region would create lucrative growth prospects for the Marine Fin Stabilizer Market across Asia-Pacific region.
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Major market player included in this report are:
The Neptune
Groupe Foure Lagadec
Fincantieri S.p.A
SKF Group
Western Marine Electronics Inc.
Imtra Corp
Kongsberg Maritime (RRCM)
The NAIAD Dynamics US Inc
Mitsubishi Heavy Industries
Quantum Marine Stabilizers
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Retractable fin stabilizers
Non- retractable fin stabilizers
Anchor or rest stabilizers
By Vessel Type:
Passenger Vessels
Naval and Coast Guard Vessels
Fishing Vessels
Merchant Vessels
By Fit Type:
First Fit
Retro Fit
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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- Investigate the COVID 19 outbreak’s effects.
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- Initiatives with a strategic focal point on the pinnacle vendors.
- PEST learn about of the 5 principal market regions.
Here the file gives small print on import and export, production, earnings, and important gamers throughout all areas examined. It covers vital manufacturers, tremendous market segments, the vary of items on provide in the world market, years are taken into account, and lookup goals.
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