Marine Shaft Power Meter Market: Introduction
Marine shaft power meter is a device intended to measure the power generated by the engine and delivered to the propeller by measuring the torsion of the rotating shaft. Apart from measuring the horsepower, torque and RPM transmitted, the shaft power meter can also be used as ship performance monitoring system through input of information such as the speed of ship or vessel and the flow of fuel oil. The data obtained from the marine shaft power meter is essential for SSEMP and EU MRV regulations. Marine shaft power meter finds its essential application in the reduction of running cost of a vessel. It helps in fuel saving, improving maintenance scheduling, and in equipment protection. Increasing application of shaft power meter in avoiding over-stressing of the engine by comparing power output and fuel consumption is also fueling the demand for shaft power meter in marine vessels. Owing to various benefits the demand for marine shaft power meter is anticipated to witness significant growth in the near future. This in turns is estimated to contribute to the global market for marine shaft power meter during the forecast period.
Marine Shaft Power Meter Market: Dynamics
Rising global marine transport is one of the key factor driving the demand for marine shaft power meter. Increasing global concern regarding harmful air emissions is estimated to propel the demand for new devices and equipment with advanced technologies. This in turns is also one of the major factor propelling the demand for marine shaft power meter in order to obtain cleaner marine transport including commercial and passenger as well. As one of the important international trades in the world, seaborne transportation is estimated to play a pivot role in the world’s rapid industrialization and advancement, permitting the transportation of very large volumes of processed and raw materials as well as water, food and other products. This expected growth in the global seaborne trade will drive the demand for shipping containers, and consequently will drive the global marine shaft power meter market during the forecast period.
The manufacturers in the global marine shaft power meter market may go through certain challenges in order to fulfill the current demands of the customers which includes cost efficient product with higher safety and environment friendly technologies.
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Marine Shaft Power Meter Market: Segment
Global marine shaft power meter market can be segmented by display type, by sales channel and by application
By display type the global marine shaft power meter market can be segmented as
On the basis of display
By sales channel the global marine shaft power meter market can be segmented as
- OEM (Original Equipment Manufacturer)
By application the global marine shaft power meter market can be segmented as
- Passenger Vessels
- Cargo carriers
Marine Shaft Power Meter Market: Regional Outlook
Growing use of water crafts for commerce, transportation of cargo and passengers, military, recreation or for sports activities is expected to increase the demand for marine shaft power meter during the forecast period. Growing public attraction towards leisure boating in regions such as North America and Europe is estimated to drive the growth of marine shaft power meter market during the forecast period. Growing maritime tourism in some countries of Middle East and Africa, is increasing the demand of new ships which ultimately is anticipated to boost the market of marine shaft power meter in the near future. Recovery of shipbuilding activities in South Korea and steadily growing marine industry in China and Japan is estimated to significantly contribute to the Asia Pacific marine shaft power meter market in the coming years
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.