South America Marine Propellers Market: Industry Analysis and Forecast (2024-2030)

South America Marine Propellers Market Definition:

A bladed marine propeller generates thrust with the help of these blades. The number of blades in a propeller determines the ship's speed. Controllable pitch propellers (CPP), fixed pitch propellers (FPP), tunnel thrusters, azimuth thrusters, and other types of marine propellers are available on the market. The increased demand for marine propellers from the repair and new shipbuilding markets, as well as increasing maritime tourism, are some of the primary drivers fueling the marine propeller market in the forecast periods.

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.

Further, the South America Marine Propellers market is segmented by No. Of Blades, Application, and geography. On the basis of No. Of Blades, the South America Marine Propellers market is segmented into 3 Blades, 4 Blades, 5 Blades & Others. Based on the Application, the market is segmented under the Merchant Ships, Naval Ships, Recreational Boats & Others. By geography, the market covers the major countries in South America i.e., Brazil, Columbia, Venezuela, Chile, and Rest of South America For each segment, the market sizing and forecasts have been done on the basis of value in USD Million.

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South America Marine Propellers Market Dynamics:

Increased In Demand For Sea-Based Logistics & Trade:

Because of its cost-effectiveness, sea-based logistics and trade is a convenient 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.

Introduction of Stringent Environmental Regulations

Several environmental legislation, strategies, and subsidy programs differ per country, depending on the intensity of harmful gas emissions such as SOx, NOx, and CO2. In 2005, the International Maritime Organization (UK) issued MARPOL Annex VI standards, which established NOx emission limitations and regulated the use of low-sulfur fuels. These rules apply to vessels and ships operating on US seas as well as those operating within 200 nautical miles of the South American coast, often known as the South American Emission Control Area (ECA). Ship component manufacturers are concentrating on the development of marine propulsion systems that comply with various environmental laws enacted by governments across the world.

COVID 19 Impact on South America Marine Propellers Market:

Due to lower orders for new ships, the Covid-19 epidemic disrupted supply chains and hindered economic activity. The market experienced some losses as a result of reduced trade activities and ship production. But, as the need for manufactured consumer products rises post-pandemic, so will the demand for maritime propellers increases.

South America Marine Propellers Market Segment Analysis:

By Application, South America Marine Propellers Market is segmented into Merchant Ships, Naval Ships, Recreational Boats & Others. Merchant Ships dominated the market in 2023 with more than 51% share of the market. The segment's growth is due to the increased demand for imported goods. More than 50,000 commercial ships are involved in international freight transportation, according to the International Chamber of Shipping (ICS). The Greek commercial fleet is also the world's largest, according to the United Nations Conference on Trade and Development (UNCTAD), with 4,017 ships accounting for nearly 16% of   tonnage.

South America Marine Propellers Market Regional Insights:

Argentina dominated the South American Marine Propellers Market in 2023. One of the major reasons affecting the area market’s growth is that Argentina is the major producer of marine propellers in Latin America. They mostly manufacture three- and four-blade propellers for mid-size passenger ships. In the region, both fixed and moveable shafts are manufactured. The majority of marine propellers are made of aluminium with varying alloy coatings. For freight and military ships, certain shipbuilding companies additionally produce 5- blade 6-blade propellers.

Regional Outlook:

• South Africa produces the most marine propellers in the African continent. They primarily produce propellers for fishing boats that require a fixed shaft, two-blade propeller. They also make propellers for passenger and freight ships in the mid-range. Some firms also manufacture premium ship propellers. Durban and Cape Town, in particular, have emerged as the South African center for Marine Propellers. Investors are considering Ghana and Nigeria as locations for their facilities due to the low cost of labor.
• Brazil also produces small fishing ships on a limited basis. The final assembly of the propeller is also done by several businesses in Brazil. To produce and assemble propellers, the businesses in Brazil follow strict environmental regulations.

South America 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.

The objective of the report is to present a comprehensive analysis of the   South America Marine Propellers market to the stakeholders in the industry. The report provides trends that are most dominant in the   South America 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   South America 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   South America 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   South America 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   South America 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   South America Marine Propellers market. The report also analyses if the   South America 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   South America Marine Propellers market. Economic variables aid in the analysis of economic performance drivers that have an impact on the   South America Marine Propellers market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the   South America Marine Propellers market is aided by legal factors.

South America Marine Propellers Market Scope:

South America Marine Propellers Market Key Players:

• Michigan Wheel Holdings LLC (U.S.)
• Wärtsilä Corporation (Finland)
• VEEM Propellers Ltd. (Australia)
• Andritz AG (Austria)
• 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)