According to study, “World
Marine Engine Market Research Report 2024(covering USA, EU, China,
South East Asia, Japan and etc)” the key companies operating in the world
marine engine market are MANDiesel & Turbo SE, Mitsubishi Heavy Industries
Marine Machinery & Engine, Wartsila, Marine Engines, Perkins,Yanmar
Holdings, Cummins Inc., Scania AB,DUKE Engines, ISUZU, Deutz AG, Doosan, Weichai
Holding Group, CSIC, Mercury Marine, John Deere,GETransportation, Canaline
Engines,UTC Aerospace Systems, Brunswick Corporation, Rolls-RoycePower Systems
AG,YUCHAI, CSIC, CC,SDEC, Wartsila Corp., Zhongji Hitachi Zosen, AB Volvo Group,
Weichai, RongAn Power, Hyundai Heavy Industries, Caterpillar Inc., Daihatsu
Diesel MFG. Co. Ltd., Dresser-Rand Group, Inc.
Marine engines are type of machines, designed to
transform one form of energy into mechanical energy in the marine environment. These
are made for the operating in a marine environment, performance, safety, and
for regulatory requirements. These are utilized to provide power to marine
vessels such as offshore support vessels, commercial vessels, and other
vessels. These engines consist of components for instance crankshaft, pistons, liner,
bed plate, and head, which are constructed with corrosion inhibiting materials.
Some essential characteristics are included easy
maintenance, fuel efficiency, high performance, quiet operation, durability, and
low harmful emissions.
Based on type, marine engine market is segmented
into generator drive engines, propulsion engines and auxiliary engines. Based
on stroke type, market is segmented into two stroke and four stroke. Based on
power, market is segmented into op to 1000 HP, 1001 HP to 5000 HP, 5001 HP to
10,000 HP, 10,001 HP to 20,000 HP and above 20,000 HP. Based on fuel type,
market is segmented into intermediate fuel oil, marine gas oil, marine diesel
oil, heavy fuel oil and other fuels. Based on technology, market is segmented
into low speed technology, medium speed technology and high speed technology.
In addition, based on application, market is segmented into offshore support
vessels, commercial vessels, recreational and others. Offshore support vessels
includeplat form supply vessel (PSV), anchor handling tug supply vessel (AHTS)
and multi-purpose support vessels (MPSV).
Commercial vessels include tankers, container vessels, bulk carriers, and
roll on/roll off. Additionally, recreational segment includes ferries, cruise
ships and yachts.
The marine engine market is driven by increase in penetration
of smart engines for situational awareness & safety, followed by growth in
international marine freight transport,increase in demand for luxury vessels
such as yachts and cruise, economic steadiness, advent of technologically
advanced & extremely reliable engines, rise in maritime tourism, increase
in disposable income amongst the individuals, and rise in demand for commercial
vessels for instance bulk carriers& gas carriers.. However, dependence on
heavy fuel as the primary fuel, fluctuations in oil & gas prices and stringent
environmental regulations may impact the market. Moreover, rise in demand for
dual-fuel engines and increase in naval budgets are key opportunities for
market.
Based on geography, China, South East Asia and Japan
holds major share in marine engine market owing to rapid growth in shipbuilding
activities. The EU and USA are expected to witness higher growth rate due to
rise in maritime activities & tourism and presence of largest manufacturers
over the forecast period.
For more information on the research
report, refer to below link:
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