A new market research report, published by Future Market Insights, on the marine fin stabilizer market analyses the global industry trends during 2014 – 2018 and forecasts market growth and opportunity assessment for the period, 2019 – 2029. The report covers latest trends, market dynamics, key success factors, macro-economic factors, forecast factors, industry value chain and competition analysis of key players. Retractable marine fin stabilizer is expected to account for major share of the manufacturers’ bottom lines, owing to its growing applications in passenger and merchant vessels. The report provides key insights into the marine fin stabilizer market and forecasts growth for the period of 2019 – 2029. The global marine fin stabilizer market was valued at ~US$ 100 Mn in 2018 and is projected to increase at a CAGR of ~3.6% during the projected period of 2019-2029.
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A new report on “Marine Fin Stabilizer Market” by FMI provides detailed insights on key factors affecting the growth of the marine fin stabilizer market, along with historical trends, future growth prospects, market dynamics, competition analysis and region wise market breakdown. The research report contains exhaustive market analysis, achieved by meticulous research with maximum precision.
First fit installations of marine fin stabilizers has always led the market, owing to passenger safety & comfort becoming a prerequisite. Although marine fin stabilizers have been in the market for almost 90 years, they were not widely adopted until the 2000s. They are installed on a variety of ships like passenger vessels, navy vessels and merchant vessels, but the rise in cruise ship and luxury yacht orders has resulted in increased demand for marine fin stabilizers. As a large proportion of older merchant ships and passenger vessels, still exist without marine fin stabilizers, operators have been opting to retrofit to upgrade safety measures and comfort levels.
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- Retractable Fin Stabilizers
- Non-Retractable Fin Stabilizers
- Anchor Fin Stabilizers
- Fishing Vessels
- Passenger Vessels
- Navy & Coast Guard Vessels
- Merchant Vessels
- First Fit
- Retro Fit
- North America
- Latin America
- East Asia
- South Asia
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Frequently Asked Questions About marine fin stabilizer market
How much was the global marine fin stabilizer market worth in 2018?
The global marine fin stabilizers market revenue was valued at US$100 Mn in 2018, and is poised to grow at a CAGR of 3.6% during the forecast period 2019-2029. The market is expected to catapult further with growing number of passenger and merchant vessels.
How is the market growth augmented by first fit installation?
First fit installations of marine fin stabilizers has been gaining momentum, as passenger safety and comfort continue to be a major concern. Rise in the number of cruise ship and luxury yacht are further influencing the first fit installation of marine fin stabilizers.
In what way electrification and hydrodynamics enhancing the decision-making control?
With electrification and hydrodynamics, it has become easier for the steersman to handle the motion of fin stabilizers through engine room control and touch screen panel installed on the bridge. Adaptive mode of electricity driven by marine fin stabilizers can enable automotive adjustments of speed and angle.
How is marine tourism creating opportunities for market growth?
Change in preference of the consumers for vacationing is driving the growth of the marine tourism sector. In North America and Europe, cruising has become an entrenched trend, driving the demand for cruise ships and luxury yachts. Hence, the growing demand for marine tourism activities is projected to be the major factor in creating opportunities for the market growth.
Which regional market is experiencing robust growth?
East Asia’s marine fin stabilizers market accounted for the largest revenue share of 76% in 2018 and is expected to maintain its dominance throughout 2029. Europe’s marine fin stabilizers market is also expected to grow at a rapid pace.
How are market players coping up to maintain their position?
Market players are continuously working on product development. They are introducing curved marine fin stabilizers for intra range of yachts and cruises. Manufacturers are also offering retrofitting services for revamping the control system units of the marine stabilizers.