Europe: Ship Propeller Market 2025

Ship Propeller Market Size in Europe

In 2022, the Europe ship propeller market decreased by -40.4% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed a perceptible increase. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Ship Propeller Production in Europe

In value terms, ship propeller production rose to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild shrinkage. The pace of growth was the most pronounced in 2013 when the production volume increased by 19%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Ship Propeller Exports

Exports in Europe

In 2022, overseas shipments of ships’ or boats’ propellers and blades therefor were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, ship propeller exports soared to $X in 2022. Over the period under review, exports, however, showed a slight decline. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Germany (X tons), distantly followed by Spain (X tons), Norway (X tons), Denmark (X tons), Italy (X tons), the Netherlands (X tons), Portugal (X tons), Belgium (X tons) and the UK (X tons) represented the key exporters of ships’ or boats’ propellers and blades therefor, together generating 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Denmark (with a CAGR of +17.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest ship propeller supplying countries in Europe were Germany ($X), Spain ($X) and Norway ($X), together accounting for 52% of total exports. Italy, the Netherlands, Belgium, Portugal, the UK and Denmark lagged somewhat behind, together accounting for a further 36%.

In terms of the main exporting countries, the UK, with a CAGR of +7.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, reducing by -15.1% against the previous year. Overall, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by 34% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+1.2%), while the other leaders experienced a decline in the export price figures.

Ship Propeller Imports

Imports in Europe

In 2022, overseas purchases of ships’ or boats’ propellers and blades therefor increased by 14% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of 15%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, ship propeller imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The Netherlands represented the largest importing country with an import of about X tons, which recorded 31% of total imports. Spain (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Italy (10%), Norway (6.7%), Finland (6.1%), Denmark (4.8%) and Belgium (4.5%). The following importers - Russia (X tons), Sweden (X tons), France (X tons), Poland (X tons), the UK (X tons) and Germany (X tons) - together made up 18% of total imports.

From 2012 to 2022, average annual rates of growth with regard to ship propeller imports into the Netherlands stood at +10.5%. At the same time, Poland (+13.6%), Russia (+8.3%), Spain (+4.1%), the UK (+2.8%) and Belgium (+1.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Europe, with a CAGR of +13.6% from 2012-2022. Finland, Norway and Italy experienced a relatively flat trend pattern. By contrast, France (-1.0%), Sweden (-4.9%), Denmark (-6.8%) and Germany (-10.7%) illustrated a downward trend over the same period. While the share of the Netherlands (+18 p.p.), Spain (+2.7 p.p.), Poland (+1.9 p.p.) and Russia (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Italy (-2.1 p.p.), Sweden (-3.5 p.p.), Germany (-5.7 p.p.) and Denmark (-6.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X), Spain ($X) and Italy ($X) constituted the countries with the highest levels of imports in 2022, with a combined 38% share of total imports. Belgium, Sweden, Germany, Finland, Norway, France, the UK, Russia, Poland and Denmark lagged somewhat behind, together comprising a further 54%.

Among the main importing countries, Poland, with a CAGR of +8.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, which is down by -4.1% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 19%. As a result, import price reached the peak level of $X per ton, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform