According to a recent Fact.MR study, over 1,900 units of marine shaft power meter are likely to be sold in 2019. Growth of the marine shaft power meter market can be attributed to various factors including
- Growing seaborne trade that relies heavily on cargo carriers
- Development of technically advanced and cost-effective solution and increasing demand for new marine shaft power meter to optimize fuel saving
- Imposition of new regulations on the shipping industry to reduce greenhouse gas emission
The study opines that cargo carriers hold relatively larger share of the marine shaft power meter market, than passenger vessels. More than 50% volume sales of the marine shaft power meter were held by cargo carriers in 2018. This can be attributed to efforts of ship owners in Germany, China, and Canada, toward strengthening their hold in the container space, in line with the upward trend of container-based shipping services in sea-borne trade.
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