Europe Flap Rudder Market Is Expected To Cross USD 25 Mn By 2027
Category: #business  By Ronak Bora  Date: 2021-10-27
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Europe Flap Rudder Market Is Expected To Cross USD 25 Mn By 2027

The Europe flap rudder market will register revenue of more than $25 million by 2027, which is attributable to the increasing prominence of fishing operations and marine tourism. Upcoming offshore projects like Penguins redevelopment and Neptune Deep in Romania will also result in surging offshore activities and the need for sea vessels across the region.

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The global flap rudder market is projected to gain remarkable momentum over the foreseeable future, owing to the escalating maritime trade activities worldwide. The shipbuilding sector has been rapidly expanding over the past years, on account of the favorable economic conditions, rising seaborne trade, and rapid urbanization.

Furthermore, the integration of automation in the modular shipbuilding technique will boost the shipbuilding industry and in turn, amplify the demand for rudders with flap. This rapid rise in product demand is also due to various usage advantages such as high lift capabilities, along with the efficient maneuvering requirements in the sector.

Apart from shipbuilding, the fishing sector has been witnessing high growth, as the consumption of seafood has been growing exponentially. An efficient flap rudder and steering system has the capability to withstand strong currents, waves, and wind. These aforesaid factors, alongside the changing dietary habits, will make significant contributions to the industry outlook in the coming years. The global flap rudder market size is anticipated to register $214.6 million in revenue by 2027.

In terms of segmentation by flap material, the metal segment will expand at a considerable growth rate over the forecast spell, which is attributable to its myriad benefits such as cost-effectiveness, easy workability, and superior strength.

On the other hand, the composites material segment is likely to witness a major upsurge, as it can significantly reduce the weight of the rudders as well as improve the overall efficiency of its shapes and designs. Other factors such as cost-competitiveness and low maintenance costs of this material will boost segmental growth.

On the basis of fit, the global flap rudder market from the linefit segment is poised to exhibit a CAGR of over 4% through 2027, as a result of the rapid developments of new ship vessels. Moreover, the retrofit segment is slated to proliferate at a rapid pace in years to come, owing to the robust demand for rudder conversions.

Despite the rising popularity of the flap rudder design, its high repair and maintenance costs may hinder the flap rudder industry expansion over the projected timeframe. Additionally, the shipbuilding industry has been witnessing a steep decline in ship orders and new ship vessels delivery due to the ongoing COVID-19 pandemic. The industry will, however, return to normalcy as the shipbuilding sector is anticipated to regain traction in the next few years.

The competitive landscape of the flap rudder market comprises of companies such as Nakashima Propeller Co., Ltd., De Waal BV, Damen Marine Components, Wuxi Delin Marine Equipment Co., Becker Marine Systems GmbH, and Kongsberg Maritime, among others. These firms are implementing strategies such as innovative product launches and business expansions to strengthen their foothold across the globe.

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Some Point from Table of Contents:

Data Tables

TABLE 1    Flap rudder industry 360° synopsis, 2017 – 2027

TABLE 2    Global flap rudder market estimates & forecast (USD Million), 2017 – 2027

TABLE 3    Global flap rudder industry revenue estimates & forecast by flap material, (USD Million), 2017 – 2027

TABLE 4    Global flap rudder market revenue estimates & forecast by fit, (USD Million), 2017 – 2027

TABLE 5    Global flap rudder industry revenue estimates & forecast by ship, (USD Million), 2017 – 2027

TABLE 6    Global flap rudder industry revenue estimates & forecast by region, (USD Million), 2017 – 2027

TABLE 7    List of key flap material manufacturers

TABLE 8    Industry impact forces

TABLE 9    Strategy dashboard

TABLE 10    Global metal flap rudder industry estimates & forecast (USD Million), 2017 – 2027

TABLE 11    Global metal flap rudder market revenue estimates & forecast by region, (USD Million), 2017 – 2027

TABLE 12    Global composite flap rudder industry estimates & forecast (USD Million), 2017 – 2027

TABLE 13    Global composite flap rudder industry revenue estimates & forecast by region, (USD Million), 2017 – 2027

TABLE 14    Global flap rudder market estimates & forecast for linefit (USD Million), 2017 – 2027

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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