Marine engines market

Market Overview:
Marine engines are machines which supply power to various vessels, generators, auxiliary
equipment, and propulsion systems that are pivotal for maritime activities and vehicles. Various
kinds of marine engines are available which serve purposes of different marine vehicles and
systems. The global marine engines market was close to USD 12.05 billion by revenue, at the
end of 2018 and is estimated to rise at a CAGR of 3.94% to reach USD 14.62 billion over the
review period.
Market drivers and restraints:
Increase in the number of leisure marine travelers, the immense growth of the global seaborne
transport market, technological advancements and highly reliable engines, economic stability,
and increasing disposable incomes are the key factors which have driven the global marine
engines market in the last few years. Strict government regulations relating to emissions from
naval vessels, escalated awareness among customers about the requirement to adopt greener
fuels, and draining reserves of traditional fuels are likely to fuel the expansion of the market in
future.
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Report segmented as:
By power:
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Up To 1,000 Hp
1,001 Hp To 5,000 Hp
5,001 Hp To 10,000 Hp
10,001 Hp To 20,000 Hp
Above 20,000 Hp
By application:
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Commercial Vessels
Offshore Support Vessels
Other Vessels
By fuel:
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Heavy Fuel Oil
Intermediate Fuel Oil
Marine Diesel Oil
Marine Gas Oil
Other Fuels
Geographical analysis:
Based on geography, the global Marine engines market is segmented into Middle East & Africa,
North America, South America, Europe, and Asia Pacific. Asia Pacific is the biggest market for
marine engines owing to the flourishing shipbuilding in countries like South Korea, India, China,
and Japan.
Important market players:
The major players in the marine engines market are AB Volvo, Brunswick Corporation,
Caterpillar Inc., Cummins Inc., Daihatsu Diesel MFG. Co. Ltd., Deutz AG, Dresser-Rand Group,
Inc., GE Transportation, John Deere, Man Diesel & Turbo Se, Mitsubishi Heavy Industries, Ltd.,
Rolls-Royce Power Systems AG, Scania AB, Wärtsilä Corp, and Yanmar Co., Ltd.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation
of the market. It helps us understand the market better through size anticipation and CAGR
calculation to estimate the next market. It has a broader segmentation for better
understanding of the enterprising of the market at a low level by segregating the market into
smaller sectors.
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custom reports to meet your specific research needs and assist you in making well-informed
decisions.
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