Fin stabilizer systems are rotor fins mounted on the bottom of the ship’s hull to resist and reduce excessive ship roll due to wind or waves. Technological advancements, coupled with the concerted efforts to reduce trade barriers, have increased the international and interregional trade activities in the last two decades. This increase in trade activity has surged the demand for bulk carriers and other ocean transportation vessels across the globe. Apart from this, rising geopolitical tension and increasing disputes among various economies have subsequently increased the naval fleet across the globe, further driving the market growth.
Greece to Dominate the Global Shipping Industry
Europe held a prominent share in the fin stabilizer market in 2019 and is anticipated to witness healthy growth in the coming years as the region is backed by the presence of economies such as Greece, Norway, Germany, the U.K, and Denmark that are among the top ten ship owing nations in the world. Apart from this, well-established shipping industry, increasing competition, rising freight rates, and increasing exports drive regional market growth. Greece dominated the global shipping industry in 2019, accounting for around 18% of the total fleet market.
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Fin Stabilizer Systems Market: Segmentation
By Product Type
By Vessel Type
Fin Stabilizer Systems Market: Regions Covered
Central and South America and the Caribbean
The Middle East
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now