LeapZipBlog: Steve Blade's blog: Marine Shaft Power Meter Market: Growing Seaborne Trade that Relies Heavily on Cargo Carriers

Marine Shaft Power Meter Market: Growing Seaborne Trade that Relies Heavily on Cargo Carriers

June 27, 2019 by Steve Blade  

 The latest report on the marine shaft power meter market by Fact.MR offers actionable insights, along with the in-depth analysis of the marine shaft power meter market. Historical data and forecast on the market is also covered in the report. Major factors influencing the growth of the marine shaft power meter market are highlighted in the study. The report provides micro and macroeconomic factors playing important role in the marine shaft power meter market. Market dynamics such as the latest trends, opportunities, drivers, and key challenges in the marine shaft power meter market are also included in this report. The report also focuses on segment-wise analysis and region-wise analysis including key countries in the market. Competitive landscape in the marine shaft power meter market is also provided in this report.

According to a recent Fact.MR study, over 1,900 units of marine shaft power meter are likely to be sold in 2019. Growth of the marine shaft power meter market can be attributed to various factors including

  • Growing seaborne trade that relies heavily on cargo carriers
  • Development of technically advanced and cost-effective solution and increasing demand for new marine shaft power meter to optimize fuel saving
  • Imposition of new regulations on the shipping industry to reduce greenhouse gas emission

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To sustain consumer preference amidst staggering competition, prominent players in marine shaft power meter market are also engaged in developing long term contracts with end-users. To cite an instance, UK based Datum Electronics has recently attained a new contract from Oldendroff Carriers to supply sophisticated shaft power torque meters for optimized ship performance monitoring system, complying with the latter's judicious fuel consumption vision besides realigning with emission control protocols. These recent developments are poised to diversify growth potential in marine shaft power meter market in subsequent times. Further in the ambit of competition spectrum, global provider of fiber optic monitoring systems, Light Structures has recently concluded an acquisition deal of Korea based Global Marine Engineering to diversify its offerings in marine shaft power meter market.

APEJ to Retain its Hegemony in Marine Shaft Power Meter Market

APEJ is expected to hold pole position in the marine shaft power meter market in 2019, with volume sales envisaged to surpass 1,000 units. Revenues from the marine shaft power meter market in Japan are expected to be relatively lower than APEJ. These regions with their flourishing shipping industry and increasing marine trade offer potential growth opportunities for marine shaft power meter manufacturers.

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The study further states, “Complementing efforts by the shipping industry to address greenhouse gas emission, International Maritime Organization (IMO) has set an emission reduction target. These targets have been introduced in form of mandatory energy-efficiency requirements. This is resulting in the growing demand for marine shaft power meter system by the shipping companies to improve efficiency and reduce fuel consumption. Meanwhile, recently released MRV regulation in Europe has made it mandatory to shipping companies to get their emission report verified and receive Document of Compliance (DOC) to prevent any penalty.”

Marine Shaft Power Meter Market: Competition Landscape

This section of the report offers a detailed section on key contributors in marine shaft power meter market. A dashboard view of each of the mentioned profiles complete with detailed insights on their respective SWOT analysis along with detailed assessment of their product portfolio, market contribution, as well as recent developments have been slated to aid readers’ understanding about the competition spectrum.

The report allows readers to maneuver competitive and tactical business strategies based on aforementioned insights and ensure sustained revenue pools in marine shaft power meter market.

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