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Marine Base Steering Gear Market Snapshot (2022-2032)

[250 Pages Report] The global marine base steering gear market size was valued at around US$ 1.6 Billion in 2020 and is likely to expand at a steady CAGR of 5% during the forecast period between 2022 and 2032. Demand for marine base steering gear is driven by rapid expansion of maritime industry across the globe.

Report Attributes Details
Marine Base Steering Gear Market Size (2020) US$ 1.6 Billion
Marine Base Steering Gear Market Estimated Growth Rate (2022 to 2032) 5%

Since ancient times, marine base steering gears have been an indispensable part of a ship’s machinery. They are unique equipment that help guide a vessel in open water. These marine base steering gears are integrated with rudder systems and play a key role in turning ships (both towards left or right) while in motion during sailing.

Rapid growth of maritime industry and surge in the number of marine ships or vessels is providing a major impetus to the growth of marine base steering gear market and the trend is likely to continue during the forecast period.

There are generally two types of marine base steering gears available in the market i.e., ram type and rotary vane type. Among these, ram type segment dominates the global marine bases steering gear market.

Ram type marine base steering gear is the most commonly used steering gear construction. This type of marine base steering gear produces a considerable high value of torque for a given applied power due to its unique arrangement.

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Which Are The Factors Augmenting The Growth Of Marine Base Steering Gear Market?

The swift growth of marine base steering gear market is attributable to the increasing demand for marine vessels for commercial and defense purposes, rising government investments in expanding shipbuilding industry, growing awareness about the benefits of using marine base steering gears, and technological advancements in marine base steering gears.

Marine base steering gears are equipment used to change the direction of the ships during sailing or maneuvering. They have become essential components of marine steering systems and provide movement of the rudder in response to a signal from the bridge to steer the ship.

Rapid growth in sea freight export along with increasing number of commercial and military vessels, the demand for marine base steering gears.

According to the United Nations Conference on Trade and Development (UNCTAD), world commercial fleet grew by 63 million dwt between January 2020 and January 2021. This will continue to provide tailwinds for the growth of marine base steering gear market.

Similarly growing popularity of rotary vane base steering gear among end users due to its various benefits including low vibration, less noise, cost-effectiveness, and flexible nature will further accelerate the growth of marine base steering gear market during the forecast period.

Furthermore, stringent military standards for designing steering gear to reduce vibration and noise along with rapid expansion of shipbuilding industry is expected to create lucrative opportunities for marine base steering gear manufacturers.

Governments across the world are taking various initiatives to develop and expand shipbuilding industry across their respective regions.  For instance, in 2022 Prime Minister of Australia, Scott Morrison announced a $4.3 billion investment in the development of a new dry-docking facility at Western Australia’s Henderson Shipyard to facilitate the construction and sustainment of large naval vessels as well as to support commercial shipbuilding and sustainment market. This will generate lucrative growth prospects within the marine base steering gear industry.

What Are The Challenges Faced By The Marine Base Steering Gear Industry?

Despite its optimistic stance, there are some obstacles that are limiting the growth of marine base steering gear market. Some of these obstacles include high cost of advanced marine base steering gear and poor availability of proper sea transport facilities in lower economies.

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How Is Flourishing Sea Transport Business In Asia Pacific Driving Marine Base Steering Gear Market?

Over the years, Asia Pacific has emerged as a promising market for marine base steering gear and the trend is likely to continue during the forecast period, owing to the increasing foreign investments, favorable government policies, booming sea transport business, strong presence of leading marine base steering gear manufacturers, and easy availability of products at lower prices.

Countries such as China, South Korea, and Japan are experiencing enormous demand for marine base steering gears due to thriving shipbuilding industry, rapid growth in export business, increasing investments in various initiates taken by governments to strengthen their naval defense.

As per United Nations Conference on Trade and Development (UNCTAD) 94% of the global shipbuilding occurred in China, Japan, and South Korea in 2020. Furthermore, half of the world fleet is owned by Asian companies. As marine base steering gear forms an integral part of vessels, rising in shipbuilding will eventually expand Asia Pacific marine base steering gear market during the assessment period.

What Makes Europe A Lucrative Market For Marine Base Steering Gear?

According to Future Market Insights, Europe marine base steering gear market is expected to register substantial growth during the forecast period, owing to the strong investments done in countries like Russia, France, Germany and other EU countries, presence of technologically advanced products, and increasing shipbuilding activities.

Similarly, booming seaborne trade across Europe and rise in the number of vessels will positively impact the marine base steering gear market during the assessment period. According to Eurostat, total gross weight of goods handled in European Union ports (inward and outward) reached around 4.0 billion tonnes in 2017.

Leading shipping companies in the region are constantly expanding their fleets to increase their revenue share. Rise in sales of cargo ships and vessels will further accelerate the growth of marine base steering gear market in Europe

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Market Competition

Some of the key manufacturers of marine base steering gear include Data Hidrolik, Wills Ridley Ltd, Rolls-Royce plc, Brusselle Carral Marine, Jastram Engineering Ltd., REMONTOWA HYDRAULIC SYSTEMS Sp. z o.o., KATSA OY, Palmarine, and Nufoss Services Pte Ltd.

These leading players are continuously focusing on introducing new marine base steering gear to meet the end user demands. Further, they have adopted growth strategies such as mergers, collaborations, acquisitions, and partnerships to expand their global presence,

Marine base steering gear products of companies like Royal Royce plc and Wills Ridley Ltd are gaining immense traction due to better quality and highly efficient nature.

Report Scope

Report Attributes Details
Growth Rate CAGR of 5% from 2022 to 2032
Base Year for Estimation 2021
Historical Data 2015 to 2020
Forecast Period 2022 to 2032
Quantitative Units Revenue in US$ Million and CAGR from 2022 to 2032
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered
  • Gear Type
  • Power Source
  • Region
Regions Covered
  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa
Key Countries Profiled
  • USA
  • Canada
  • Brazil
  • Argentina
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa
Key Companies Profiled
  • Data Hidrolik
  • Wills Ridley Ltd
  • Rolls to Royce plc
  • Brusselle Carral Marine
  • Jastram Engineering Ltd.
  • REMONTOWA HYDRAULIC SYSTEMS Sp. z o.o.
  • KATSA OY
  • Palmarine
  • Nufoss Services Pte Ltd.
Customization Available Upon Request

Key Segments Profiled In The Marine Base Steering Gear Industry Survey

By Gear Type:

  • Ram Type
  • Rotary Vane Type

By Power Source:

  • Hydraulic
  • Electro-hydraulic

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

At what rate will the global marine base steering gear market grow?

FMI projects the global marine base steering gear market to expand at around 5% CAGR over the assessment period.

Which region will offer lucrative opportunities for marine base steering gear manufacturers?

Europe is expected to offer lucrative opportunities for marine base steering gear manufacturers during the forecast period.

Who are the leading players in marine base steering gear market?

Data Hidrolik, Wills Ridley Ltd, Rolls-Royce plc, Brusselle Carral Marine, Jastram Engineering Ltd., REMONTOWA HYDRAULIC SYSTEMS Sp. z o.o., KATSA OY, Palmarine, and Nufoss Services Pte Ltd. are some prominent players in marine base steering market.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Marine Base Steering Gear Market Analysis 2017-2021 and Forecast, 2022-2032

    4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021

    4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Gear Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Gear Type, 2017-2021

    5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Gear Type, 2022-2032

        5.3.1. Ram Type

        5.3.2. Rotary Vane Type

    5.4. Y-o-Y Growth Trend Analysis By Gear Type, 2017-2021

    5.5. Absolute $ Opportunity Analysis By Gear Type, 2022-2032

6. Global Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Power Source

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Power Source, 2017-2021

    6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Power Source, 2022-2032

        6.3.1. Hydraulic

        6.3.2. Electro-hydraulic

    6.4. Y-o-Y Growth Trend Analysis By Power Source, 2017-2021

    6.5. Absolute $ Opportunity Analysis By Power Source, 2022-2032

7. Global Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Region

    7.1. Introduction

    7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021

    7.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032

        7.3.1. North America

        7.3.2. Latin America

        7.3.3. Europe

        7.3.4. Asia Pacific

        7.3.5. MEA

    7.4. Market Attractiveness Analysis By Region

8. North America Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Country

    8.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021

    8.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032

        8.2.1. By Country

            8.2.1.1. U.S.

            8.2.1.2. Canada

        8.2.2. By Gear Type

        8.2.3. By Power Source

    8.3. Market Attractiveness Analysis

        8.3.1. By Country

        8.3.2. By Gear Type

        8.3.3. By Power Source

    8.4. Key Takeaways

9. Latin America Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Country

    9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021

    9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032

        9.2.1. By Country

            9.2.1.1. Brazil

            9.2.1.2. Mexico

            9.2.1.3. Rest of Latin America

        9.2.2. By Gear Type

        9.2.3. By Power Source

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Gear Type

        9.3.3. By Power Source

    9.4. Key Takeaways

10. Europe Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Country

    10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021

    10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032

        10.2.1. By Country

            10.2.1.1. Germany

            10.2.1.2. U.K.

            10.2.1.3. France

            10.2.1.4. Spain

            10.2.1.5. Italy

            10.2.1.6. Rest of Europe

        10.2.2. By Gear Type

        10.2.3. By Power Source

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Gear Type

        10.3.3. By Power Source

    10.4. Key Takeaways

11. Asia Pacific Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Country

    11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021

    11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032

        11.2.1. By Country

            11.2.1.1. China

            11.2.1.2. Japan

            11.2.1.3. South Korea

            11.2.1.4. Malaysia

            11.2.1.5. Singapore

            11.2.1.6. Australia

            11.2.1.7. New Zealand

            11.2.1.8. Rest of APAC

        11.2.2. By Gear Type

        11.2.3. By Power Source

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Gear Type

        11.3.3. By Power Source

    11.4. Key Takeaways

12. MEA Marine Base Steering Gear Market Analysis 2017-2021 and Forecast 2022-2032, By Country

    12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021

    12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032

        12.2.1. By Country

            12.2.1.1. GCC Countries

            12.2.1.2. South Africa

            12.2.1.3. Israel

            12.2.1.4. Rest of MEA

        12.2.2. By Gear Type

        12.2.3. By Power Source

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Gear Type

        12.3.3. By Power Source

    12.4. Key Takeaways

13. Key Countries Marine Base Steering Gear Market Analysis

    13.1. U.S.

        13.1.1. Pricing Analysis

        13.1.2. Market Share Analysis, 2021

            13.1.2.1. By Gear Type

            13.1.2.2. By Power Source

    13.2. Canada

        13.2.1. Pricing Analysis

        13.2.2. Market Share Analysis, 2021

            13.2.2.1. By Gear Type

            13.2.2.2. By Power Source

    13.3. Brazil

        13.3.1. Pricing Analysis

        13.3.2. Market Share Analysis, 2021

            13.3.2.1. By Gear Type

            13.3.2.2. By Power Source

    13.4. Mexico

        13.4.1. Pricing Analysis

        13.4.2. Market Share Analysis, 2021

            13.4.2.1. By Gear Type

            13.4.2.2. By Power Source

    13.5. Germany

        13.5.1. Pricing Analysis

        13.5.2. Market Share Analysis, 2021

            13.5.2.1. By Gear Type

            13.5.2.2. By Power Source

    13.6. U.K.

        13.6.1. Pricing Analysis

        13.6.2. Market Share Analysis, 2021

            13.6.2.1. By Gear Type

            13.6.2.2. By Power Source

    13.7. France

        13.7.1. Pricing Analysis

        13.7.2. Market Share Analysis, 2021

            13.7.2.1. By Gear Type

            13.7.2.2. By Power Source

    13.8. Spain

        13.8.1. Pricing Analysis

        13.8.2. Market Share Analysis, 2021

            13.8.2.1. By Gear Type

            13.8.2.2. By Power Source

    13.9. Italy

        13.9.1. Pricing Analysis

        13.9.2. Market Share Analysis, 2021

            13.9.2.1. By Gear Type

            13.9.2.2. By Power Source

    13.10. China

        13.10.1. Pricing Analysis

        13.10.2. Market Share Analysis, 2021

            13.10.2.1. By Gear Type

            13.10.2.2. By Power Source

    13.11. Japan

        13.11.1. Pricing Analysis

        13.11.2. Market Share Analysis, 2021

            13.11.2.1. By Gear Type

            13.11.2.2. By Power Source

    13.12. South Korea

        13.12.1. Pricing Analysis

        13.12.2. Market Share Analysis, 2021

            13.12.2.1. By Gear Type

            13.12.2.2. By Power Source

    13.13. Malaysia

        13.13.1. Pricing Analysis

        13.13.2. Market Share Analysis, 2021

            13.13.2.1. By Gear Type

            13.13.2.2. By Power Source

    13.14. Singapore

        13.14.1. Pricing Analysis

        13.14.2. Market Share Analysis, 2021

            13.14.2.1. By Gear Type

            13.14.2.2. By Power Source

    13.15. Australia

        13.15.1. Pricing Analysis

        13.15.2. Market Share Analysis, 2021

            13.15.2.1. By Gear Type

            13.15.2.2. By Power Source

    13.16. New Zealand

        13.16.1. Pricing Analysis

        13.16.2. Market Share Analysis, 2021

            13.16.2.1. By Gear Type

            13.16.2.2. By Power Source

    13.17. GCC Countries

        13.17.1. Pricing Analysis

        13.17.2. Market Share Analysis, 2021

            13.17.2.1. By Gear Type

            13.17.2.2. By Power Source

    13.18. South Africa

        13.18.1. Pricing Analysis

        13.18.2. Market Share Analysis, 2021

            13.18.2.1. By Gear Type

            13.18.2.2. By Power Source

    13.19. Israel

        13.19.1. Pricing Analysis

        13.19.2. Market Share Analysis, 2021

            13.19.2.1. By Gear Type

            13.19.2.2. By Power Source

14. Market Structure Analysis

    14.1. Competition Dashboard

    14.2. Competition Benchmarking

    14.3. Market Share Analysis of Top Players

        14.3.1. By Regional

        14.3.2. By Gear Type

        14.3.3. By Power Source

15. Competition Analysis

    15.1. Competition Deep Dive

        15.1.1. Data Hidrolik

            15.1.1.1. Overview

            15.1.1.2. Product Portfolio

            15.1.1.3. Profitability by Market Segments

            15.1.1.4. Sales Footprint

            15.1.1.5. Strategy Overview

                15.1.1.5.1. Marketing Strategy

                15.1.1.5.2. Product Strategy

                15.1.1.5.3. Channel Strategy

        15.1.2. Brusselle Carral Marine

            15.1.2.1. Overview

            15.1.2.2. Product Portfolio

            15.1.2.3. Profitability by Market Segments

            15.1.2.4. Sales Footprint

            15.1.2.5. Strategy Overview

                15.1.2.5.1. Marketing Strategy

                15.1.2.5.2. Product Strategy

                15.1.2.5.3. Channel Strategy

        15.1.3. Jastram Engineering Ltd.

            15.1.3.1. Overview

            15.1.3.2. Product Portfolio

            15.1.3.3. Profitability by Market Segments

            15.1.3.4. Sales Footprint

            15.1.3.5. Strategy Overview

                15.1.3.5.1. Marketing Strategy

                15.1.3.5.2. Product Strategy

                15.1.3.5.3. Channel Strategy

        15.1.4. Wills Ridley Ltd

            15.1.4.1. Overview

            15.1.4.2. Product Portfolio

            15.1.4.3. Profitability by Market Segments

            15.1.4.4. Sales Footprint

            15.1.4.5. Strategy Overview

                15.1.4.5.1. Marketing Strategy

                15.1.4.5.2. Product Strategy

                15.1.4.5.3. Channel Strategy

        15.1.5. REMONTOWA HYDRAULIC SYSTEMS Sp. z o.o.

            15.1.5.1. Overview

            15.1.5.2. Product Portfolio

            15.1.5.3. Profitability by Market Segments

            15.1.5.4. Sales Footprint

            15.1.5.5. Strategy Overview

                15.1.5.5.1. Marketing Strategy

                15.1.5.5.2. Product Strategy

                15.1.5.5.3. Channel Strategy

        15.1.6. Rolls-Royce plc

            15.1.6.1. Overview

            15.1.6.2. Product Portfolio

            15.1.6.3. Profitability by Market Segments

            15.1.6.4. Sales Footprint

            15.1.6.5. Strategy Overview

                15.1.6.5.1. Marketing Strategy

                15.1.6.5.2. Product Strategy

                15.1.6.5.3. Channel Strategy

        15.1.7. KATSA OY

            15.1.7.1. Overview

            15.1.7.2. Product Portfolio

            15.1.7.3. Profitability by Market Segments

            15.1.7.4. Sales Footprint

            15.1.7.5. Strategy Overview

                15.1.7.5.1. Marketing Strategy

                15.1.7.5.2. Product Strategy

                15.1.7.5.3. Channel Strategy

        15.1.8. Nufoss Services Pte Ltd.

            15.1.8.1. Overview

            15.1.8.2. Product Portfolio

            15.1.8.3. Profitability by Market Segments

            15.1.8.4. Sales Footprint

            15.1.8.5. Strategy Overview

                15.1.8.5.1. Marketing Strategy

                15.1.8.5.2. Product Strategy

                15.1.8.5.3. Channel Strategy

        15.1.9. Palmarine

            15.1.9.1. Overview

            15.1.9.2. Product Portfolio

            15.1.9.3. Profitability by Market Segments

            15.1.9.4. Sales Footprint

            15.1.9.5. Strategy Overview

                15.1.9.5.1. Marketing Strategy

                15.1.9.5.2. Product Strategy

                15.1.9.5.3. Channel Strategy

16. Assumptions & Acronyms Used

17. Research Methodology

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