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Marine Propellers Market Size, Business Analysis and Major Companies in Industry

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Aashi Kohli
Marine Propellers Market Size, Business Analysis and Major Companies in Industry

According to a report published by Fortune Business Insights, titled “Marine Propeller Market Size, Share and Global Trend By Type  (Propellers, Thrusters, and Others), By Application (Merchant Ships, Recreational Boats, Naval Ships, and Others), By Number of Blades (3-blade, 4-blade, 5-blade, and Others), By Propulsion (Inboard, Outboard, Sterndrive, and Others), By Material (Stainless Steel, Aluminium, Bronze, Nickel-Aluminium Bronze, and Others), By End User (OEM, and Aftermarket) and Regional Forecast, 2020-2027,” the market was worth USD 4.84 billion in 2019 and will exhibit a CAGR of 4.69% during the forecast period, 2020-2027.

The global marine propellers market size is projected to reach USD 5.34 billion by the end of 2027. The presence of several large scale manufacturers has created a healthy market competition in recent years. 

Marine propellers are widely used in maritime applications. They are an integral part of navy vessels and are used to propel the ship in a particular direction. They are also responsible for the speed of the vehicle. These propellers are an accumulation of several mechanical parts, including shafts and blades. Recent advancements in the physical parts associated with these propellers and the material used in manufacturing will bode well for the growth of the overall market in the coming years.

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