Mordor Intelligence forecasts the marine propeller market, valued at USD 4.48 billion in 2025, to reach approximately USD 6.17 billion by 2030, representing a compound annual growth rate of more than 6 percent.
The firm cites regulations by the International Maritime Organization, including the Energy Efficiency Existing Ship Index and the Carbon Intensity Indicator, as key drivers making propulsion efficiency a requirement for compliance and financing.
Volatility in alloy and composite feedstock costs is pressuring margins, but retrofitting activity remains significant as shipowners aim to avoid penalties linked to speed and voyage performance.
According to Mordor Intelligence, this is maintaining steady aftermarket opportunities even during periods of weak freight rates.
Industry trends highlighted include expansion in shipbuilding led by China and South Korea, specialized propeller demand for hybrid and battery-electric ferries, and the use of digital-twin design tools that reduce development cycles and enable customized production.
The report notes that the marine propeller market is closely tied to advancements in the marine propulsion engine market, which is projected to expand through 2030 as dual-fuel and alternative fuel systems gain ground. Diesel engines continue to dominate.
Asia-Pacific accounts for the largest market share, while Europe drives regulatory adoption.
Monitoring systems are expected to play an increasing role, with the marine engine monitoring system market projected to grow at a CAGR of 4 percent between 2025 and 2030.
Real-time data on vibration, fuel consumption, and wear are supporting predictive maintenance.
Demand for such systems is strongest in North America for defense and fleet renewal, with Europe and Asia-Pacific expanding adoption through regulatory requirements and shipyard modernization.
The market remains moderately fragmented. Players such as Nakashima, Schottel, and Veem focus on specialized designs, while larger integrated suppliers including Wärtsilä, Rolls-Royce, and ABB combine propellers with engines and monitoring systems.
Mordor Intelligence also points to opportunities in offshore oil, gas, and wind projects, naval modernization programs requiring quieter technologies, retrofit demand linked to regulatory deadlines, and digital integration supporting bundled contracts.
Mordor Intelligence Private Limited is a market research and consulting firm incorporated in India. It provides syndicated and custom research reports across a wide range of industries, supported by a network of analysts and regional specialists.