USD 534.24 million
Azimuth Thrusters Market Size, Share, and Growth Analysis
Azimuth Thrusters Market By Thruster Type (Retractable Azimuth Thrusters, Non-Retractable Azimuth Thrusters), By Power (Less than 1500KW, 1500KW-3500KW), By Drive System, By Vessel Type, By End-user, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15E2378 |
Region:
Global |
Published Date: February, 2025
Pages:
184
|Tables:
118
|Figures:
73
Format -
Azimuth Thrusters Market Insights
Azimuth Thrusters Market size was valued at USD 534.24 million in 2023 and is poised to grow from USD 541.72 million in 2024 to USD 605.45 million by 2032, growing at a CAGR of 1.4% during the forecast period (2025-2032).
The global azimuth thrusters market has witnessed significant developments in recent years, driven by a combination of factors. One key driver is the growing demand for enhanced maneuverability in various maritime applications. Azimuth thrusters offer a high degree of maneuverability, making them indispensable for vessels such as tugboats, offshore support vessels, and cruise ships, which require precise and efficient propulsion systems.
Additionally, the increasing focus on environmental sustainability has led to a rising interest in more energy-efficient and eco-friendly propulsion technologies, with azimuth thrusters often being favored for their fuel efficiency and reduced emissions.
Furthermore, ongoing advancements in technology have led to the development of more compact and powerful azimuth thrusters, expanding their applicability in a broader range of vessels. This evolving landscape underscores the significance of azimuth thrusters in modern maritime operations and suggests a promising future for the market as it continues to adapt to the evolving needs of the industry.
US Azimuth Thrusters Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Drive system
Fastest Growth
Drive system
Growth Rate
1.4% CAGR
Global azimuth thrusters Market ($ Bn)
Country Share for North America Region (%)
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Azimuth Thrusters Market Segments Analysis
Global Azimuth Thrusters Market is segmented by Thruster Type, Power, Drive System, Vessel Type, End-user and region. Based on Thruster Type, the market is segmented into Retractable Azimuth Thrusters, Non-Retractable Azimuth Thrusters, Tunnel Thrusters. Based on Power, the market is segmented into Less than 1500KW, 1500KW-3500KW and More than 3500KW. Based on Drive System, the market is segmented into Electric Drive System, Diesel Drive System and Hydraulic Drive System. Based on Vessel Type, the market is segmented into Naval Ships, Offshore Drilling, Recreational Boats, Offshore Wind Farms (CTVs, SOVs) and Others. Based on End-user, the market is segmented into OEM and Aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Azimuth Thrusters Market Analysis by Drive system
The dominating drive system in the global azimuth thrusters market is the Diesel Drive System segment. Diesel-driven azimuth thrusters are widely adopted in various maritime applications due to their reliability, high power output, and efficiency. Diesel engines provide the necessary propulsion for azimuth thrusters, making them suitable for a range of vessels, including large commercial ships and offshore platforms. These systems are favoured for their robust performance and proven track record in maritime operations.
However, the hydraulic drive system is currently experiencing the fastest growth. This trend can be attributed to its advantages in terms of efficiency and power. Hydraulic drive systems offer superior torque and speed control, allowing vessels to achieve precise and swift maneuvers, which is crucial in various maritime applications. Moreover, advancements in hydraulic technology have led to more compact and efficient components, reducing the overall footprint of the system and making it increasingly attractive to shipbuilders and operators looking for space-saving solutions.
Azimuth Thrusters Market Analysis by End user
In terms of end user, Original Equipment Manufacturers (OEMs) currently dominate the landscape. This dominance can be attributed to several factors. First and foremost, the maritime industry places a premium on reliability and performance, making OEMs the preferred choice for initial installations. Vessel manufacturers often opt for OEM azimuth thrusters to ensure seamless integration and optimal performance from the outset. Additionally, OEMs typically provide comprehensive warranty and support packages, giving end-users confidence in the longevity and maintenance of their propulsion systems.
However, the Aftermarket segment is experiencing faster growth compared to the OEM segment among end users. This trend can be attributed to several factors. First, as the maritime industry increasingly recognizes the importance of regular maintenance and upgrades to optimize vessel performance, there is a growing demand for aftermarket services and replacement parts. Ship operators are keen to extend the lifespan and efficiency of their existing fleets, making aftermarket services a vital component. Additionally, the aftermarket segment benefits from the need for retrofitting older vessels with more advanced and eco-friendly azimuth thrusters, driven by evolving environmental regulations.
Global azimuth thrusters Market By Type
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Azimuth Thrusters Market Regional Insights
Europe held a prominent position in the global azimuth thrusters market. Europe's dominance in this market can be attributed to several factors. Firstly, Europe boasts a well-established maritime industry, with a significant presence in shipbuilding and shipping operations. As a result, there is a consistent demand for azimuth thrusters to enhance the maneuverability and efficiency of vessels navigating the region's intricate waterways and busy ports. Furthermore, Europe has been proactive in implementing stringent environmental regulations, encouraging the adoption of more eco-friendly propulsion systems like azimuth thrusters.
Asia Pacific was emerging as the fastest-growing region in the global azimuth thrusters market. This growth was primarily attributed to the region's robust shipbuilding industry, particularly in countries like China and South Korea, where the demand for azimuth thrusters in various types of vessels, including container ships, offshore drilling rigs, and tugboats, was on the rise. Additionally, the expansion of offshore energy projects in the Asia Pacific region, such as offshore wind farms and oil exploration activities, further fueled the demand for azimuth thrusters.
Global azimuth thrusters Market By Region
- Largest
- Fastest
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Azimuth Thrusters Market Dynamics
Azimuth Thrusters Market Drivers
Environmental Sustainability Driving Adoption
- Stricter regulations on emissions and a growing awareness of the ecological impact of maritime operations have compelled shipbuilders and operators to seek more energy-efficient and environmentally friendly propulsion solutions. Azimuth thrusters, known for their fuel efficiency and reduced emissions, align well with these sustainability goals. This has led to a rising demand for azimuth thrusters as a preferred propulsion system, especially in regions where environmental regulations are stringent, ultimately propelling the growth of the global azimuth thrusters market.
Azimuth Thrusters Market Restraints
High Cost Associated with Maintenance
- High maintenance cost associated with replacing the conventional thrusters hampers the growth of the market. Advanced thrusters have Z-drive configurations with direct diesel engine drives and L-drive configurations with electric drives from the overhead. There is a high cost involved in modernization and upgrading of advanced thrusters Therefore, the necessity of upgraded azimuth thrusters in naval vessels hampers the market growth.
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Azimuth Thrusters Market Competitive Landscape
The global azimuth thrusters market features a highly competitive landscape marked by several established players and a growing number of emerging entrants. These companies are continually engaged in research and development efforts to enhance the performance and efficiency of azimuth thruster systems. They also focus on expanding their global footprint by forming strategic partnerships, collaborations, and mergers and acquisitions to broaden their customer base and market reach.
Moreover, the market's competitiveness is intensified by the constant innovation in azimuth thruster technology, as manufacturers aim to meet evolving customer demands for greater maneuverability, reduced environmental impact, and improved operational efficiency.
This dynamic competitive environment ensures that customers have access to a wide array of azimuth thruster options, catering to diverse maritime applications and needs.
Top Players in Azimuth Thrusters Market
- ABB Ltd. (Switzerland)
- Kawasaki Heavy Industries, Ltd. (Japan)
- KONGSBERG Gruppen ASA (Norway)
- SCHOTTEL GmbH (Germany)
- Wärtsilä Corporation (Finland)
- Caterpillar Inc. (USA)
- Rolls-Royce Holdings plc (UK)
- Thrustmaster of Texas, Inc. (USA)
- Steerprop Ltd. (Finland)
- Voith Turbo GmbH & Co. KG (Germany)
- ZF Friedrichshafen AG (Germany)
- Brunvoll AS (Norway)
- IHI Power Systems Co., Ltd. (Japan)
- Hydromaster Propulsion Ltd. (Netherlands)
- Jastram GmbH & Co. KG (Germany)
- Veth Propulsion by Twin Disc (Netherlands)
- Niigata Power Systems Co., Ltd. (Japan)
- Thrustleader Marine Power System (Netherlands)
- Fountom Marine (China)
- Chongqing Guanheng Technology & Development Co., Ltd. (China)
Azimuth Thrusters Market Recent Developments
- In April 2022, Kongsberg secured two contracts in the naval vessel sector. The first contract was with Integrated Wind Solutions (IWS) for the delivery of two Commissioning Service Operation Vessels (CSOVs) equipped with an integrated equipment solution. The second contract involved partnering with Sembcorp Marine to supply a Wind Turbine Installation Vessel (WTIV) complete with a comprehensive technology package.
- In January 2022, Kongsberg entered into an agreement with Samar Shipyards to provide US255SFP and US205SFP thrusters for installation on newly constructed Azimuth Stern Drive (ASD) tugboats intended for Svitzer.
Azimuth Thrusters Key Market Trends
- Growing Adoption of Electric Azimuth Thrusters: With a rising emphasis on sustainability and the reduction of greenhouse gas emissions in the maritime sector, electric azimuth thrusters have gained significant traction. These thrusters offer several advantages, including improved energy efficiency, reduced noise levels, and lower environmental impact compared to traditional hydraulic or mechanical systems. As shipowners and operators seek to comply with stricter emission regulations and reduce their carbon footprint, the demand for electric azimuth thrusters is on the rise. This trend reflects a broader industry shift towards cleaner and more sustainable propulsion technologies, shaping the future of the global azimuth thrusters market.
Azimuth Thrusters Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global Azimuth thrusters market analysis, the market is currently experiencing a notable shift in dynamics driven by a combination of factors. One prominent factor is the maritime industry's increasing focus on sustainability and environmental responsibility.
Stricter regulations regarding emissions and a growing awareness of the ecological impact of maritime operations have prompted shipbuilders and operators to seek more eco-friendly propulsion solutions. In response, azimuth thrusters have gained favor due to their reputation for fuel efficiency and reduced emissions. Moreover, technological advancements have resulted in more compact and powerful azimuth thrusters, expanding their applicability across a wider range of vessels, from tugboats to cruise ships.
Additionally, the market's competitive landscape remains dynamic, with established players and emerging entrants continuously investing in research and development to meet evolving customer demands for improved maneuverability and efficiency. This evolving market landscape underscores the significance of azimuth thrusters in modern maritime operations and suggests a promising outlook for the market as it aligns with the industry's evolving sustainability goals. However, it's essential for industry stakeholders to remain vigilant and adaptable to stay competitive in this dynamic environment.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 534.24 million |
| Market size value in 2032 | USD 605.45 million |
| Growth Rate | 1.4% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Azimuth Thrusters Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Azimuth Thrusters Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Azimuth Thrusters Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Azimuth Thrusters Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Azimuth Thrusters Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Azimuth Thrusters Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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