The global marine fin stabilizer market is projected to reach USD 8.3 billion in 2023, fueled by the expanding marine industry. This trend is expected to create new opportunities, leading to a compound annual growth rate (CAGR) of 12.1% from 2023 to 2033, with the market anticipated to grow to approximately USD 26.1 billion by 2033.
Recent advancements in ship design technology have allowed naval architects to better analyze wave motions around a ship’s hull. These developments have significantly enhanced design techniques and methods to mitigate the effects of waves, ensuring safer and more comfortable voyages for both passengers and crew. This progress is a key driver of growth in the marine fin stabilizer market.
However, the market does face challenges from various types of motion experienced during voyages due to wind and water waves, which could hinder growth. Despite these challenges, ongoing technological innovations and the increasing demand for improved maritime comfort and safety are expected to propel the market forward.
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Key Takeaways from the Market Study
- The global marine fin stabilizer market expanded at a CAGR of 11.3% between 2018 and 2022.
- The market share of North America in 2022 was 27%.
- Germany is forecasted at a CAGR of 10.9% CAGR from 2023 to 2033.
- China is predicted at a CAGR of 6.8% CAGR from 2023 to 2033.
- Based on product type, the retractable segment is estimated to influence the global marine fin stabilizers with a market share of 70.1% in 2022.
- Based on vessel type, merchant vessel is projected to create a market share of 50.2% in 2022 of the market share.
“Increase in the overall demand for marine fin stabilizers is one of the key drivers of the marine fin stabilizer market”, – comments a Future Market Insights analyst.
Market Competition
Key players in the marine fin stabilizers market focus on research and development for new product designs of fin stabilizers for merchant vessels, fishing vessels, and coast guard ships. Many companies also focus on strengthening their geographic presence across the globe through partnerships and collaborations with other manufacturers.
- First order for LNG fuel gas supply systems was received by Mitsubishi Heavy Industries for their high-pressure marine engines for both low and high-pressure types.
- Kongsberg Maritime announced a contract with Finnish shipyard Rauma marine constructions (RMC) for delivering marine propulsion and steering equipment for passenger ferries.
Key Companies Profiled
- The Neptune
- Groupe Foure Lagadec
- Fincantieri S.p.A
- SKF Group
- Western Marine Electronics Inc.
- Imtra Corp
- Kongsberg Maritime (RRCM)
- The NAIAD Dynamics US Inc
- Mitsubishi Heavy Industries
- Quantum Marine Stabilizers
- Matn’s Stabilizers
- CMC Marine Srl
- ABT TRAC
- Rotorswing Marine United Kingdom
- WTSV Technologies
Global Marine Fin Stabilizer Market by Category
By Product Type:
- Retractable fin stabilizers
- Non- retractable fin stabilizers
- Anchor or rest stabilizers
By Vessel Type:
- Passenger Vessels
- Passenger & Vehicle Ferries
- Cruise Ships
- Yachts & Superyachts
- Naval and Coast Guard Vessels
- Fishing Vessels
- Merchant Vessels
By Fit Type:
- First Fit
- Retro Fit
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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