Marine Engine Market – Overview:-
The development of new technologies and manufacturing process in marine engine market have addressed the environmental regulations pertaining emission of harmful gases. Characteristics like fuel efficiency, easy maintenance, high performance, durability, quiet operation, and low harmful emissions make marine engines ideal for marine applications.
Growing demand for luxury vessels such as cruise and yachts, as a result of increasing disposable income amongst the individuals has been a major sponsor to the increasing demand in the marine engine market. The global rise in demand for commercial vessels such as bulk carriers and gas carriers has significantly contributed to the rapid growth of the marine engine market.
The global Marine Engine Market is expected to expand at 4.5% CAGR during the forecast period.
Industry Segment Overview:-
The rise in commercial shipbuilding industry and commercial sea-borne activities has augmented for the growth. Based on the fuel, the market is segmented into heavy fuel oil, intermediate fuel oil, marine diesel oil, marine gas oil and other fuels. Heavy fuel oil had been dominating the market in 2016 and is projected to be the fastest-growing fuel over the next five years. Heavy fuel oil are inexpensive as well as they are extensively available. However, with stringent emission norms coming into effect, there will be an increase in the demand for cleaner-fuels such as Intermediate Fuel Oil, Marine Diesel Oil, and Marine Gas Oil.
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- Daihatsu Diesel MFG. Co. Ltd.
- Dresser-Rand Group, Inc.
- Deutz AG
- GE Transportation
- Yanmar Co., Ltd.
- Scania AB
- John Deere
- Caterpillar Inc.
- Cummins Inc.
- Rolls-Royce Power Systems AG
- Man Diesel & Turbo Se
- Wärtsilä Corp
- Mitsubishi Heavy Industries, Ltd.
- Brunswick Corporation
- AB Volvo
Regional Analysis of Marine Engine Global Market:-
Countries such as Croatia, Denmark, Finland, France, Germany, Greece and Italy are the prominent shipbuilding nations in Europe. The growing maritime activities and tourism in the European region have created productive market for shipping industries and subsequently marine engine manufactures. North America witnessed a stagnant growth in 2016 and is anticipated to maintain the growth over the forecast period. U.S. held for the largest share in North America with more than 80% of the market share in 2016 and is expected to maintain its dominance over the forecast period.
Major Points From Table Of Content:-
TABLE OF CONTENT
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
4 Market Dynamics
5 Global Marine Engine Market, By Power
6 Global Marine Engine Market, By Application
7 Global Marine Engine Market, By Fuel
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8 Global Marine Engine Market, By Region
8.2 North America
8.2.1 Market Estimates & Forecast, 2017-2023
8.2.2 Market Estimates & Forecast By Power , 2017-2023
8.2.3 Market Estimates & Forecast By Application, 2017-2023
8.2.4 Market Estimates & Forecast By Fuel, 2017-2023
18.104.22.168 Market Estimates & Forecast, 2017-2023
22.214.171.124 Market Estimates & Forecast By Power , 2017-2023
126.96.36.199 Market Estimates & Forecast By Application, 2017-2023
188.8.131.52 Market Estimates & Forecast By Fuel, 2017-2023
184.108.40.206 Market Estimates & Forecast, 2017-2023
220.127.116.11 Market Estimates & Forecast By Power , 2017-2023
18.104.22.168 Market Estimates & Forecast By Application, 2017-2023
22.214.171.124 Market Estimates & Forecast By Fuel, 2017-2023
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