Marine Fin Stabilizer Market By Product (Retractable Fin Stabilizers, Non-Retractable Fin Stabilizers), Vessel Type (Fishing Vessels, Passenger Vessels, Merchant Vessels), Fit Type (First Fit, Retro Fit) & Region Forecast to 2019 - 2029
Marine Fin Stabilizer Market - Analysis, Outlook, Growth, Trends, Forecasts
- September 2019
- 285 pages
A Shift towards ‘Electrification’ and ‘Hydrodynamics’ for Enhanced Decision-Making and Control
The quest for straightforward operation of vessels is amplifying among the drivers of cruises and large vessels – a factor fueling the demand for electricity driven marine fin stabilizers. Helmsmen are able to handle the motion of fin stabilizers via a touch screen panel installed on the bridge and engine room control.
Adaptive mode of electricity driven marine fin stabilizers enable automatic adjustment of angle and speed. In addition, the operating system features a manual mode, allowing the captains to handle the marine fin stabilizers arduously.
The electricity driven marine fin stabilizers assist handling of 4 fins, thereby decreasing roll up completely during navigation, and substantially at anchor. The aspect of 360 degrees rotation permits fins to escape effortlessly while confronting submerged objects during cruise, minimizing the risk of holing the hull.
Fully proportional automatic Angle-Velocity-Acceleration (AVA) closed loop control system connects to hydraulic systems – anchor windlasses, and stabilizers into a single control panel for maximum control. Furthermore, the AVA systems helps the electro-hydraulic marine fin stabilizers to apply significant torque in a bid to fulfill cyclic loads on the fins.
Negotiating Roll Up Motion with Zero Speed Stabilization
Manufacturers are leveraging proprietary technology, including zero speed stabilization, for enhancing roll stability, at low and zero speeds. The foil expands in the zero speed stabilizing systems, providing increased surface area in unison with doubling lift force generation.
While in the underway mode, the foil retracts, decreasing the surface area and negotiating the drag. The zero speed stabilization embraces the ‘Magnus Effect’, a phenomenon where a rotating cylinder generates lift (stabilization) analogous to the rotational speed and direction.
The rotors are positioned more horizontally to the waterline, aiding in application of majority of lift force to tackle the roll motion. The dual purpose zero speed stabilization is fully retractable, resulting in lesser power consumption with high aspect foil ratio. Further, the patented solution is highly compatible with the existing marine fin stabilizers – a major lead.
East Asia to Offer Platter of Opportunities with Booming Shipbuilding Activities
Sustainable progress in shipbuilding activities in the East Asian countries including Japan, China, and South Korea is garnering noteworthy attention of market players. With oil & gas prices undergoing steady recovery across the globe, China is likely to observe mushrooming growth in seaborne trade with Middle East and the US, leading to increasing merchant fleet.
As such, manufacturers of marine fin stabilizers are setting their prime focus on Asian countries. Further, enterprisers are driven by the fact that the Chinese, Korean and Japanese yards secured tremendous increase in new shipbuilding orders.
Market Research Methodology - Perfected through Years of Diligence
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Proprietary Technology – A Key Tenet to Define Stakeholders’ Tactics
Government regulations across the world are issuing a clarion call for achieving sustainability, compelling players such as, SKF, to incline towards the manufacturing of marine fin stabilizer covers for tackling drag, and enhancing fuel efficiency. Market forces, including Quantum Marine Stabilizers, are targeting to focus on the development of zero speed marine fin stabilizers for anchor or rest capable of counteracting ship rolling while at rest or anchor.
Conventional marine fin stabilizers create significant drag during fast-paced voyages, resulting in greater fuel dependence. As such, market players are introducing curved marine fin stabilizers owing to intra range for yachts, and cruises.
Legacy marine fin stabilizers lack the ability to control the motion of fins, encouraging manufacturers to offer retrofitting services for revamping the control system units of the marine fin stabilizers. Furthermore, surging progress in the coastal tourism of ASEAN countries – Thailand, and Indonesia – is grabbing the eyes of participants.
How Growth Will Unfold
With maritime and coastal tourism facing an upward trajectory across the globe, the demand from cruise operators for suitable marine fin stabilizers is intensifying to assure convenience to the passengers onboard. The rising requirement for cargo vessels syncs with the moderate recovery of global oil & gas prices – a factor intriguing the marine fin stabilizer manufacturers
On the flip side, traditional marine fin stabilizers affect the speed of the cruise by a few knots due to drag, confining their application to large vessels. Performance oriented yacht manufacturers are turning turn to rival components – gyro stabilizers, retracting foils and rotors - on grounds of compact dimensions, and elimination of appendages.
Frequently Asked Questions About marine fin stabilizer market
How much was the global marine fin stabilizer market worth in 2018?
The global marine fin stabilizers market revenue was valued at US$100 Mn in 2018, and is poised to grow at a CAGR of 3.6% during the forecast period 2019-2029. The market is expected to catapult further with growing number of passenger and merchant vessels.
How is the market growth augmented by first fit installation?
First fit installations of marine fin stabilizers has been gaining momentum, as passenger safety and comfort continue to be a major concern. Rise in the number of cruise ship and luxury yacht are further influencing the first fit installation of marine fin stabilizers.
In what way electrification and hydrodynamics enhancing the decision-making control?
With electrification and hydrodynamics, it has become easier for the steersman to handle the motion of fin stabilizers through engine room control and touch screen panel installed on the bridge. Adaptive mode of electricity driven by marine fin stabilizers can enable automotive adjustments of speed and angle.
How is marine tourism creating opportunities for market growth?
Change in preference of the consumers for vacationing is driving the growth of the marine tourism sector. In North America and Europe, cruising has become an entrenched trend, driving the demand for cruise ships and luxury yachts. Hence, the growing demand for marine tourism activities is projected to be the major factor in creating opportunities for the market growth.
Which regional market is experiencing robust growth?
East Asia’s marine fin stabilizers market accounted for the largest revenue share of 76% in 2018 and is expected to maintain its dominance throughout 2029. Europe’s marine fin stabilizers market is also expected to grow at a rapid pace.
How are market players coping up to maintain their position?
Market players are continuously working on product development. They are introducing curved marine fin stabilizers for intra range of yachts and cruises. Manufacturers are also offering retrofitting services for revamping the control system units of the marine stabilizers.
- Retractable Fin Stabilizers
- Non-Retractable Fin Stabilizers
- Anchor Fin Stabilizers
- Fishing Vessels
- Passenger Vessels
- Navy & Coast Guard Vessels
- Merchant Vessels
- First Fit
- Retro Fit
- North America
- Latin America
- East Asia
- South Asia