Middle East and Africa Marine Propellers Market: Industry Analysis and Forecast (2024-2030)

Middle East and Africa Marine Propellers Market Definition:

To move a ship, a Marine propeller is used to generate thrust. A Marine propeller is made up of many blades that are attached to a motor shaft. Propellers are available in a variety of materials, including bronze, aluminium, and steel. Also, depending on the needs of the vessel or ship, a ship might be equipped with one, two, or even three propellers.

A maritime propeller is made up of rotating blades that provide propulsion. It's made up of screw-like portions of helicoidal surfaces that work together to rotate through the water. The propeller's number of blades determines the ship's speed. The propeller's speed increases as the number of blades increases.

Further, the Middle East and Africa Marine Propellers Market are segmented by Propulsion Type, By No. Of Blades, and geography. Based on Propulsion Type, the Middle East and Africa Marine Propellers Market are segmented under Inboard, Outboard Sterndrive & Others. Based on the No. Of Blades, the market is segmented into 3 Blades, 4 Blades, 5 Blades & Others. By geography, the market covers the major countries in Middle East and Africa i.e., South Africa, Nigeria, Saudi Arabia, UAE, Kuwait, Egypt, and Rest of Middle East and Africa For each segment, the market sizing and forecasts have been done on the basis of value in USD Million.

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Middle East and Africa Marine Propellers Market Dynamics:

Increase in Demand for Sea-Based Logistics & Trade

Because of its cost-effectiveness, sea-based logistics and trade is a practical way of shipping commodities from one country to another. In comparison to air logistics, sea logistics is less expensive. Also, since the COVID-19 pandemic, there has been an increase in demand for sea-based logistics and trade, owing to increased consumer demand for e-commerce products. Another factor driving the rising demand for sea-based logistics and trade is that some e-commerce companies have been hurrying to stock up following a year of supply chain interruptions caused by the pandemic.

COVID 19 Pandemic on Middle East and Africa Marine Propellers Market:

The oil market in Middle Eastern countries was also affected by the COVID 19 pandemics, as petrol and diesel usage were low during the period. This has a direct impact on the market for marine propellers in that region.

Shipping Overcapacity:

The oversupply of shipping boats compared to demand is known as shipping overcapacity. One of the key factors that have led to maritime overcapacity is the expectation of an ongoing increase in trading activities, for which new vessels are acquired to meet predicted demand. To replace obsolete vessels, new energy-efficient vessels are being designed. However, due to their poor scrapping value, a number of the old vessels have not been dismantled. These vessels are sold on the market, adding to the already oversupplied market's tonnage. Despite growth in international seaborne trade, the shipping industry's overcapacity has resulted in a decrease in new vessel orders. As a result, the decline in new shipbuilding orders is expected to provide a significant barrier to the marine propeller market's growth.

Middle East and Africa Marine Propellers Market Segment Analysis:

By Propulsion Type, The Middle East & Africa Marine Propellers market is divided into inboard, outboard, sterndrive, and other propulsion types. During the forecast period, the sterndrive segment had dominated the market in 2023 with more than 51% of the share in the market & expected to increase the most. The increased demand for ships with sterndrive propulsion systems is driving the segment's growth. These systems include an outboard motor that is connected to the boat's inboard gas or diesel engine at the back.

Middle East and Africa Marine Propellers Market Regional Insights:

Saudi Arabia dominated the market in 2023. This is due to the high volume of trade in the Middle East is one of the primary growth drivers for Marine Propellers market. The Suez Canal, which is located in the Middle East, facilitates a considerable amount of trade between Asian and European countries. The following development driver is that they mostly export crude oil to numerous countries, which necessitates the use of a specific type of propeller to transport those crude oils.

Middle East and Africa Marine Propellers Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

The market's major companies have a significant impact because most of them have extensive networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

Regional Outlook:

• The Middle East is the world's largest producer of oil, they require high-quality, high-efficiency maritime propellers to avoid transportation errors. Oman and Yemen are the manufacturing hubs for Marine Propellers in the Middle East. For high power, they primarily build and employ a 6-blade propeller. They also use various alloys to keep the propeller from rusting.
• Marine propellers for luxury yachts are also being produced in the United Arab Emirates and Saudi Arabia. Marine Propellers are also exported to a number of other countries. Yemen also produces a variety of three- and four-blade propellers. The propellers are likewise driven by a moveable shaft.

The objective of the report is to present a comprehensive analysis of the Middle East and Africa Marine Propellers Market to the stakeholders in the industry. The report provides trends that are most dominant in the Middle East and Africa Marine Propellers Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Middle East and Africa Marine Propellers Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Middle East and Africa Marine Propellers Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Middle East and Africa Marine Propellers Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Middle East and Africa Marine Propellers Market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Middle East and Africa Marine Propellers Market. The report also analyses if the Middle East and Africa Marine Propellers Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Middle East and Africa Marine Propellers Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Middle East and Africa Marine Propellers Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Middle East and Africa Marine Propellers Market is aided by legal factors.

Middle East and Africa Marine Propellers Market Scope:

Middle East and Africa Marine Propellers Market Key Players: 

• AB Volvo (Sweden)
• Brunswick Corporation (U.S.)
• Kongsberg Gruppen (Norway)
• Mecklenburger Metallguss GmbH (Germany)
• Bruntons Propellers Ltd. (U.K.)
• Hyundai Heavy Industries Co., Ltd. (South Korea)
• Kawasaki Heavy Industries, Ltd. (Japan)
• MAN SE (Germany)
• NAKASHIMA PROPELLER Co., Ltd. (Japan)
• Rolls-Royce plc (U.K.)
• SCHOTTEL Group (Germany)
• Michigan Wheel Holdings LLC (U.S.)
• Wärtsilä Corporation (Finland)
• VEEM Propellers Ltd. (Australia)
• Andritz AG (Austria)