Flap Rudder Market - Regional Demand and Future Trends Analysis Report To 2027
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.
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.
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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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Partial Chapter of the Table of Content
Chapter 4. Flap Rudder Market, By Flap Material
4.1. Global market flap material insights
4.2. Metal
4.2.1. Market estimates and forecast, 2017 – 2027
4.2.2. Market estimates and forecast, by region, 2017 – 2027
4.3. Composites
4.3.1. Market estimates and forecast, 2017 – 2027
4.3.2. Market estimates and forecast, by region, 2017 – 2027
Chapter 5. Flap Rudder Market, By Fit
5.1. Global market fit insights
5.2. Linefit
5.2.1. Market estimates and forecast, 2017 – 2027
5.2.2. Market estimates and forecast, by region, 2017 – 2027
5.3. Retrofit
5.3.1. Market estimates and forecast, 2017 – 2027
5.3.2. Market estimates and forecast, by region, 2017 – 2027
Chapter 6. Flap Rudder Market, By Ship
6.1. Global market ship insights
6.2. Bulk carriers
6.2.1. Market estimates and forecast, 2017 – 2027
6.2.2. Market estimates and forecast, by region, 2017 – 2027
6.3. Oil & gas carriers
6.3.1. Market estimates and forecast, 2017 – 2027
6.3.2. Market estimates and forecast, by region, 2017 – 2027
6.4. Offshore vessels
6.4.1. Market estimates and forecast, 2017 – 2027
6.4.2. Market estimates and forecast, by region, 2017 – 2027
6.5. General cargo ships
6.5.1. Market estimates and forecast, 2017 – 2027
6.5.2. Market estimates and forecast, by region, 2017 – 2027
6.6. Container ships
6.6.1. Market estimates and forecast, 2017 – 2027
6.6.2. Flap Rudder Market estimates and forecast, by region, 2017 – 2027
6.7. Ferries & passenger ships
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