Marine Steering Systems Market size to grow by USD 203.2 Mn; Market to have fragmented structure – Technavio

NEW YORK, Nov. 16, 2022 /PRNewswire/ — The “Marine Steering Systems Market by End-user and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The report expects the market size to grow by USD 203.2 million, accelerating at a CAGR of 7.87% during the forecast period. The global marine steering systems market is competitive and has the presence of a limited number of well-established vendors. The key vendors in the market are currently increasing their investments in R&D and focusing on expanding their customer base. The competitive environment of the market will intensify with advances in technology, government regulations, and the entry of new competitors. Most of the advances in the market are due to the increasing number of powerboat and ship sales and increasing interest in water-based recreational activities in the US, Canada, Brazil, Australia, and Europe. The market will experience consolidation because of increased competition. To survive and succeed in this competitive environment, vendors need to distinguish their products and services through product differentiation, cost differentiation, or a mix of both. Such factors will positively impact the growth of the market during the forecast period. Gain more insights into the vendor landscape. Download a Free PDF Report Sample

Marine Steering Systems Market 2022-2026: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our marine steering systems market report covers the following areas:

Marine Steering Systems Market 2022-2026: Segmentation

The global marine steering systems market is segmented as below:

• End-user 
• Cargo Ships
• Navy
• Cruise Ships
• Others

Cargo ships are the prime end-users in the market. The steering system generates a torsional force at a certain scale which is then, in turn, transmitted to the rudder stock that turns the rudder. The intermediate steering systems of a modern-day ship can be multifarious, with each small component having its unique function. For instance, the first entirely electric cargo ship in China has a capacity of 2,200 tons and a range of 80 kilometers. Approximately 200,000 container loads of cargo can be transported aboard a large container ship. It is estimated that the engine itself weighs 2,300 tons. These factors will positively impact the growth of the cargo ships segment during the forecast period.

• Geography 
• North America
• Europe
• APAC
• South America
• Middle East and Africa

40% of the market growth will come from North America during the forecast period. The US observed the most robust sales from pontoon boats, new ski boats, personal watercraft, powerboats, and aluminum fishing boats. Wakeboards, ski boats, and personal watercrafts also witnessed an increase in sales in 2021. The demand for marine steering systems in the US primarily comes from the states of Florida, Michigan, California, and Wisconsin. In North America, the market has been heavily reliant on the US. The US Navy is planning to restructure its ships and increase its fleet size to 372 crewed ships and 140 small vessels by 2026, which will help boost the demand for marine steering systems in the region during the forecast period. Identify potential segments and regions in the market. Download a Free Sample Report

Marine Steering Systems Market 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Marine Steering Systems Market, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research reports on the Marine Steering Systems Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

AB Volvo, ARTZAINAK Group, Brunswick Corp., Dometic Group AB, HyDrive Engineering Pty Ltd., Hypro Developments Ltd., Kobelt Manufacturing Co. Ltd., Lewmar Ltd., Mavi Mare and Mancini SRL, Northrop Grumman Corp., Pretech Co Inc., Robert Bosch GmbH, Techno Italia Kft, Twin Disc Inc., VETUS BV, West Marine, Wills Ridley Ltd., and ZF Friedrichshafen AG are some of the major market participants.

Although the growth of commercial shipping will offer immense growth opportunities, economic factors affecting sales of boats will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Discover market potential and make informed business decisions based on qualitative and quantitative evidences highlighted exclusively in this market study. Buy Now!

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Marine Steering Systems Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist marine steering systems market growth during the next five years
• Estimation of the marine steering systems market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the marine steering systems market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of marine steering systems market vendors

Related Reports:

• The automotive steering wheel market share is expected to increase to 28.97 million units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.17%. The increasing use of steering-mounted electronics makes wheels more intuitive is notably driving the automotive steering wheel market growth, although factors such as the development of cars without steering wheels may impede the market growth.
• The automotive steering motor market share is expected to increase by USD 524.32 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.08%. The key developments is notably driving the automotive steering motor market growth, although factors such as increasing cost pressure from the demand side may impede the market growth.

Table Of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments
• Exhibit 24: Chart on End-user – Market share 2021-2026 (%)
• Exhibit 25: Data Table on End-user – Market share 2021-2026 (%)

• 5.2 Comparison by End-user
• Exhibit 26: Chart on Comparison by End-user
• Exhibit 27: Data Table on Comparison by End-user

• 5.3 Cargo ships – Market size and forecast 2021-2026
• Exhibit 28: Chart on Cargo ships – Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Cargo ships – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Cargo ships – Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Cargo ships – Year-over-year growth 2021-2026 (%)

• 5.4 Navy – Market size and forecast 2021-2026
• Exhibit 32: Chart on Navy – Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Navy – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Navy – Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Navy – Year-over-year growth 2021-2026 (%)

• 5.5 Cruise ships – Market size and forecast 2021-2026
• Exhibit 36: Chart on Cruise ships – Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Cruise ships – Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Cruise ships – Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Cruise ships – Year-over-year growth 2021-2026 (%)

• 5.6 Other – Market size and forecast 2021-2026
• Exhibit 40: Chart on Other – Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Other – Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Other – Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Other – Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by End-user
• Exhibit 44: Market opportunity by End-user ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America – Market size and forecast 2021-2026
• Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 7.4 Europe – Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 7.5 APAC – Market size and forecast 2021-2026
• Exhibit 58: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 7.6 South America – Market size and forecast 2021-2026
• Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa – Market size and forecast 2021-2026
• Exhibit 66: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 7.8 US – Market size and forecast 2021-2026
• Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)

• 7.9 China – Market size and forecast 2021-2026
• Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)

• 7.10 UK – Market size and forecast 2021-2026
• Exhibit 78: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 7.11 Germany – Market size and forecast 2021-2026
• Exhibit 82: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 7.12 France – Market size and forecast 2021-2026
• Exhibit 86: Chart on France – Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on France – Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on France – Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on France – Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Brunswick Corp.
• Exhibit 97: Brunswick Corp. – Overview
• Exhibit 98: Brunswick Corp. – Business segments
• Exhibit 99: Brunswick Corp. – Key offerings
• Exhibit 100: Brunswick Corp. – Segment focus

• 10.4 Dometic Group AB
• Exhibit 101: Dometic Group AB – Overview
• Exhibit 102: Dometic Group AB – Business segments
• Exhibit 103: Dometic Group AB – Key offerings
• Exhibit 104: Dometic Group AB – Segment focus

• 10.5 Kobelt Manufacturing Co. Ltd.
• Exhibit 105: Kobelt Manufacturing Co. Ltd. – Overview
• Exhibit 106: Kobelt Manufacturing Co. Ltd. – Product / Service
• Exhibit 107: Kobelt Manufacturing Co. Ltd. – Key offerings

• 10.6 Lewmar Ltd.
• Exhibit 108: Lewmar Ltd. – Overview
• Exhibit 109: Lewmar Ltd. – Product / Service
• Exhibit 110: Lewmar Ltd. – Key offerings

• 10.7 Mavi Mare and Mancini SRL
• Exhibit 111: Mavi Mare and Mancini SRL – Overview
• Exhibit 112: Mavi Mare and Mancini SRL – Product / Service
• Exhibit 113: Mavi Mare and Mancini SRL – Key offerings

• 10.8 Northrop Grumman Corp.
• Exhibit 114: Northrop Grumman Corp. – Overview
• Exhibit 115: Northrop Grumman Corp. – Business segments
• Exhibit 116: Northrop Grumman Corp. – Key news
• Exhibit 117: Northrop Grumman Corp. – Key offerings
• Exhibit 118: Northrop Grumman Corp. – Segment focus

• 10.9 Robert Bosch GmbH
• Exhibit 119: Robert Bosch GmbH – Overview
• Exhibit 120: Robert Bosch GmbH – Business segments
• Exhibit 121: Robert Bosch GmbH – Key news
• Exhibit 122: Robert Bosch GmbH – Key offerings
• Exhibit 123: Robert Bosch GmbH – Segment focus

• 10.10 VETUS BV
• Exhibit 124: VETUS BV – Overview
• Exhibit 125: VETUS BV – Product / Service
• Exhibit 126: VETUS BV – Key offerings

• 10.11 Wills Ridley Ltd.
• Exhibit 127: Wills Ridley Ltd. – Overview
• Exhibit 128: Wills Ridley Ltd. – Product / Service
• Exhibit 129: Wills Ridley Ltd. – Key offerings

• 10.12 ZF Friedrichshafen AG
• Exhibit 130: ZF Friedrichshafen AG – Overview
• Exhibit 131: ZF Friedrichshafen AG – Business segments
• Exhibit 132: ZF Friedrichshafen AG – Key news
• Exhibit 133: ZF Friedrichshafen AG – Key offerings
• Exhibit 134: ZF Friedrichshafen AG – Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 135: Inclusions checklist
• Exhibit 136: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 137: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 138: Research methodology
• Exhibit 139: Validation techniques employed for market sizing
• Exhibit 140: Information sources

• 11.5 List of abbreviations
• Exhibit 141: List of abbreviations

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