Market Size of China Controllable Pitch Marine Propeller Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.93 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Controllable Pitch Marine Propeller Market Analysis
The Chinese controllable pitch marine propeller market was valued at USD 415.97 million in 2021 and is expected to reach USD 607.21 million in 2027 by registering a CAGR of 5.93% during the forecast period (2022 - 2027).
In 2020, the COVID-19 pandemic hindered the growth of the controllable pitch marine propeller market in China as the shipbuilding activities were on halt due to lockdown measures and a halt in international maritime transportation. However, since the second half of 2020, as the international logistics activities started to become normal, the demand for ships and vessels witnessed an increase, driving the demand for marine propellers.
With that, the global logistic industry is gaining back its pace, which will increase marine transportation, for it is a relatively budget-friendly way to transport goods and parcels. Alongside, maritime tourism is also on the rise, which will further drive the demand for various ships.
As China is the world's largest shipbuilder, the Chinese controllable pitch marine propeller market is anticipated to witness significant growth during the forecast period. For instance, in 2021, China accounted for a 43.1% global share in the number of orders delivered and 48.8% of the global orders.
The Chinese controllable pitch marine propeller market is fairly consolidated. Some of the major players include Wartsila Oyj Abp, UC Marine (China) Company Limited, MAN Energy Solutions SE, and Hyundai.
China Controllable Pitch Marine Propeller Industry Segmentation
A marine propeller is a machine with a rotating hub attached to several blades that produce thrust when supplied with rotational force. Of various types, the controllable pitch marine propeller is among the most advanced as the pitch of the blades can be varied. The pitch of the blades controls the amount of thrust produced by the propeller. The steeper angle of attack translates to more thrust by the propeller.
The Chinese controllable pitch marine propeller market is segmented by number of blades (two and three blades, four blades, and five blades), application (passenger vessels and commercial/cargo vessels), and ship type (tug and push boats, ferries, ice breakers, and other ship types). The report offers market size and forecast in USD million for all the above segments.
| By Number of Blades | |
| Two and Three Blades | |
| Four Blades | |
| Five Blades |
| By Application | |
| Passenger Vessels | |
| Cemmercial/Cargo Vessels |
| By Ship Type | |
| Tug and Push Boats | |
| Ferries | |
| Ice Breakers | |
| Other Ship Types |
China Controllable Pitch Marine Propeller Market Size Summary
The Chinese controllable pitch marine propeller market is poised for substantial growth, driven by the country's status as the world's largest shipbuilder and the resurgence of global logistics and maritime tourism. The market, which experienced a temporary setback due to the COVID-19 pandemic, has rebounded as international logistics activities normalized, boosting the demand for ships and, consequently, marine propellers. The cost-effectiveness of maritime transportation continues to make it a preferred choice for global trade, with seaways accounting for a significant portion of goods transported worldwide. This trend is expected to drive the demand for new ships, thereby increasing the need for controllable pitch propellers. The market is characterized by a consolidation of major players, including Wartsila Oyj Abp, UC Marine (China) Company Limited, and Hyundai, among others.
The demand for controllable pitch marine propellers in China is further bolstered by the country's extensive shipbuilding capabilities, with numerous registered shipyards producing a diverse range of vessels. The market is particularly influenced by the popularity of two- and three-blade propellers, which are favored for small passenger boats and ships due to their lower manufacturing costs and high-speed operation. The rise in orders for LNG vessels from countries like Japan and Qatar underscores the growing market potential. The market's consolidation is evident with key players such as Zhenjiang Supersoar Marine Machinery Co. Ltd and Dalian Marine Propeller Co. Ltd leading the industry. As the demand for maritime logistics and small vessels continues to rise, the Chinese controllable pitch marine propeller market is expected to expand significantly in the coming years.
China Controllable Pitch Marine Propeller Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Number of Blades
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2.1.1 Two and Three Blades
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2.1.2 Four Blades
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2.1.3 Five Blades
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2.2 By Application
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2.2.1 Passenger Vessels
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2.2.2 Cemmercial/Cargo Vessels
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2.3 By Ship Type
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2.3.1 Tug and Push Boats
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2.3.2 Ferries
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2.3.3 Ice Breakers
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2.3.4 Other Ship Types
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China Controllable Pitch Marine Propeller Market Size FAQs
What is the current China Controllable Pitch Marine Propeller Market size?
The China Controllable Pitch Marine Propeller Market is projected to register a CAGR of 5.93% during the forecast period (2024-2029)
Who are the key players in China Controllable Pitch Marine Propeller Market?
Zhenjiang Supersoar Marine machinery Co. Ltd, UC Marine (China) Company Limited, Dalian Marine Propeller Co. Ltd (China Shipbuilding Industry Company Limited), Hyundai Heavy Industries Co. Ltd and Chongqing Acir Marine Co. Ltd are the major companies operating in the China Controllable Pitch Marine Propeller Market.
