This Marine Steering Systems market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Marine Steering Systems market.
Marine Steering Systems Market: Introduction
Marine steering systems are as important as the propellers in any ship or submarine. As the propellers are useful for giving thrust and motion to the giant ships, marine steering systems make the ships/submarines change their course or direction as and when required. When a ship is made to steer at the left hand side it is called as, “turning to the port side” and when it is made to steer to the right, it is called as, “turning to the starboard side”. The main components in a typical Marine steering system are telemotor, control unit and power unit.
These being the prime components of a marine steering system, are coupled with rudders which actually gets the job done for the sailor or helmsman. This system works in this way: The steering unit consists of a telemotor which has a transmitter which the steering wheel. This wheel when turned, signals to the receiver mounted in the steering gear compartment and the signals are shared with the control unit which further commands the prime mover i.e. the power unit to operate the rudders. A negative signal is needed from the rudder through hunting gear to cut off the power unit. This is how the steering gear mechanism in Marine steering systems work.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The marine steering systems are available widely in three formats. Hydraulic, electric and mechanical steering systems. Although, some ships use semi-electric steering gear mechanisms. The marine steering systems are extensively used in boats, ships and submarines. There’s a huge need for the steering systems in marine applications. Although the systems available are efficient enough and self-steering gears are being developed, there’s a scope for improvisation in the field of navigation. A smarter system which can implement the usage of GPS and steer automatically as per the route decided.
Marine Steering Systems Market: Market Dynamics
Marine steering systems are mandatory for any marine vehicle. Be it a motor boat, ship, cruise, or a submarine. Most of the heavy and large shipments are preferred to be transported by sea routes rather than air as it is far cheaper in this way. Cruise tourism is growing all around the world and this certainly counts to the growing market for marine equipment. Additionally, the investments in marine defense systems around the world are also pleasing markets for the marine steering systems manufacturers as each year, the governments of various nations fund their navies to add new ships to their fleet. These factors can be considered as the marine steering systems market drivers and the tourism part as a growing market trend. A major contribution to the marine vehicles industry is made by merchant navies, coast guards and the naval forces of the world. The boats and cruises are employed mainly for tourism purposes. Each year, the ships and submarines with all the navies across the world need maintenance and new fleets are being introduces by various nations. This certainly call for a huge market for the marine steering systems market.
The growing B2B communications across various countries around the world have increased the rate of imports and exports through the years and the same is expected to increase in the years coming. This has promoted the growth of marine transportation thereby increasing the scope for more advanced and better marine steering systems as the things need to reach places more quickly. As the application of marine steering systems has increased, the maintenance of the same has also raised which gives a call to a better market. But, there are certain restraints accounting to the loss of revenue in the case of conventional marine steering system manufacturers. With the growing market for smart steering systems, the mechanical and hydraulic steering systems are at loss.
Marine Steering Systems Market: Regional Outlook
The main regions which play an important role in developing scope for the upcoming market trends are those which have reasonable sea ports and water bodies. Such regions are mainly in APAC, Parts of South America, Middle East, ANZ and Western Europe including Scandinavian countries. Among the nations worldwide, China has the most number of busiest sea ports for cargos. China can be considered as a very prominent market for the sales and maintenance of marine steering systems. Along with China, Singapore and Hong Kong also show competitive sea trade numbers followed by UAE.
The top navies of the world namely, U.S. Navy with 480 marine vehicles including 288 warships and 72 submarines, Chinese Navy with 129 marine vehicles, Russia with 144 of them, Royal Navy with 91 marine equipment along with India with 89 marine equipment project to be potential markets for the marine steering systems. Fisheries and maritime transport around the world also show the same trend either by replacing the parts or entire ships.
Marine Steering Systems Market: Key Players
- SeaStar Solutions
- S.A.P Supplies
- Mercury Marine
- West Marine
- Bosch Rexroth
- Wills Ridley Ltd
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Marine Steering Systems Market: Segmentation
On the basis of product type, global marine steering systems market can be segmented as:
- Ram Type Steering System
- Rotary vane Type Steering System
On the basis of application, global marine steering systems market can be segmented as:
- Hydraulic Steering Systems
- Electric Steering Systems
- Mechanical Steering Systems
- Semi-Electric Steering Systems
On the basis of means of steering, global marine steering systems market can be segmented as:
- Manual (Full-followup)
- NFU (Non-Followup)
On the basis of end-user, global marine steering systems market can be segmented as:
- Naval Vessels
- Coast Guard Vessels
- Cargo Ships
- Maritime Transport
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
Frequently Asked Questions
What research methodology is used to develop the Marine Steering Systems Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Marine Steering Systems Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Marine Steering Systems Market report?
In addition to up-to-date market figures and customized of the Marine Steering Systems Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.