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How is Recovery of the Maritime Industry Key to Growth of Marine Shaft Power Meter Manufacturers – Exclusive Study by Fact.MR

Marine shaft power meters

Marine Mechanical Gearbox

Marine shaft power meters are a key technology in monitoring vessel performance, and are gaining fast traction with the marine industry getting back to its feet after the shockwaves of the COVID-19 pandemic. Additionally, rise in cases of power failure and increase in overall maintenance costs are pushing the demand curve for marine shaft power meters upward. While the United Nations Conference on Trade and Development (UNCTAD) report published in November 2020 indicates maritime trade growth of 4.8% by the end of 2021, the latest updated report by Fact.MR provides insights on upcoming opportunities awaiting stakeholders in this industry.

According to the study, adoption of a variety of displays, both, digital and analogue, is catering to the growth of manufacturers, while high potential in countries such as the United States, Germany, Italy, France, China, and India will take the center stage for stakeholders over the forecast period of 2021 to 2031.

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Key Takeaways from Study

“With the global maritime industry coming back on its feet, requirement for marine shaft power meters is set to gain momentum over the coming years. Furthermore, rise in adoption in passenger vehicles, tankers, and container ships will contribute in raising the revenue of manufacturers,”says a Fact.MR analyst.

Demand Rising for High Safety Marine Shaft Power Meters

Demand for high safety marine shaft power meters is getting prominent across diverse applications such as cargo carriers, passenger vessels, and other cargo ships, due to their highly sought-after properties such as,

Who is Winning in this Space?

The global marine shaft power meter market is expanding steadily after getting over the restraints due to the COVID-19 pandemic. In order to excel in this industry, key players are launching broader category of products.

For instance,

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