Global Marine Steering Gear System Market Research Report 2022

Marine Steering Gea system refers to equipment designed to help in effectively maneuvering the boat traveling on the surface of water bodies. The system acts as an actuating mechanism and link between the rudder and the steering wheel controlled by the helmsmen located on the deck of the boat. The Marine Steering Gea system is comprised of the helm, steering cable, wheel, and cable connections, which all connect wheel to the engine. The helm is the most critical part, which converts the wheel’s rotary motion push-pull motion on the cable. This ultimately moves propeller right, left or amidships. Majorly helms are rotary types that are used with gears to turn the rudder. Moreover, there are different types of steering such as hydraulic steering, manual steering, electro-hydraulic steering, and electric steering.
Industry Insights

Due to the COVID-19 pandemic, the global Marine Steering Gear System market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Manual Steering accounting for % of the Marine Steering Gear System global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Passenger Vessels segment is altered to an % CAGR throughout this forecast period.

North America Marine Steering Gear System market is estimated at US$ million in 2021, while Europe is forecast to reach US$ million by 2028. The proportion of the North America is % in 2021, while Europe percentage is %, and it is predicted that Europe share will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. As for the Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.

The global major manufacturers of Marine Steering Gear System include HyDrive Engineering Pty Ltd., Lewmar Limited, Vetus B.V., SeaStar Solutions, Lecomble & Schmitt, Excel Controlinkage Pvt. Ltd., Kobelt Manufacturing Co. Ltd., Techno Italia Kft. and Twin Disc, Incorporated, etc. In terms of revenue, the global 3 largest players have a % market share of Marine Steering Gear System in 2021.

Key Drivers & Barriers

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Post-covid-19 Outlook

The readers in the section will understand how the Marine Steering Gear System market scenario changed across the globe during the pandemic and post-pandemic. The study is done keeping in view the changes in aspects such as production, demand, consumption, supply chain. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.

Segmental Outlook

Key segments including type and application have been elaborated in this report. The consultants at QY Research have studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows production and revenue data by type and application during the historical period (2017-2022) and forecast period (2023-2028).

Segment by Type

Manual Steering

Hydraulic Steering

Electric Power Steering

Segment by Application

Passenger Vessels

Commercial Vessels

Military Vessels

Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and production data of each region and country for the period 2017-2028. This information derived through comprehensive research will help the reader to get familiar with the potential value of the investment in a particular region.

Production by Region

North America

Europe

China

Japan

Consumption by Region

North America

United States

Canada

Europe

Germany

France

U.K.

Italy

Russia

Asia-Pacific

China

Japan

South Korea

India

Australia

China Taiwan

Indonesia

Thailand

Malaysia

Latin America

Mexico

Brazil

Argentina

Competitive Scenario

In this section, the readers will gain an understanding of the key players competing. The experts at QY Research have studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and production by manufacturers for the period 2017-2022. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:

HyDrive Engineering Pty Ltd.

Lewmar Limited

Vetus B.V.

SeaStar Solutions

Lecomble & Schmitt

Excel Controlinkage Pvt. Ltd.

Kobelt Manufacturing Co. Ltd.

Techno Italia Kft.

Twin Disc, Incorporated

ZF Friedrichshafen AG

Northrop Grumman Sperry Marine B.V.

Uflex

Overton

S.A.P Supplies

Go2marine

Mercury Marine

West Marine

Bosch Rexroth

Wills Ridley Ltd

Data Hidrolik

Jastram Engineering Ltd

Brusselle Carral Marine

REMONTOWA HYDRAULIC SYSTEMS

Rolls-Royce plc

KATSA OY

Nufoss Services Pte Ltd.

Palmarine

Frequently Asked Questions

Which product segment grabbed the largest share in the Marine Steering Gear System market?

How is the competitive scenario of the Marine Steering Gear System market?

Which are the key factors aiding the Marine Steering Gear System market growth?

Which are the prominent players in the Marine Steering Gear System market?

Which region holds the maximum share in the Marine Steering Gear System market?

What will be the CAGR of the Marine Steering Gear System market during the forecast period?

Which application segment emerged as the leading segment in the Marine Steering Gear System market?

What key trends are likely to emerge in the Marine Steering Gear System market in the coming years?

What will be the Marine Steering Gear System market size by 2028?

Which company held the largest share in the Marine Steering Gear System market?