Marine Engines Market Comprehensive Analysis, Growth Forecast from 2018 to 2024

(MENAFN- America News Hour) Market Study Report adds new research on Marine Engines market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Marine Engines market also includes an in-depth study of the industrys competitive scenario.

Marine Engines market is predicted to exceed USD 13 billion by 2024.

Positive outlook toward marine industry along with rising seaborne trade will drive the business growth. In line with developments in the world economy, demand for shipping services witnessed robust growth. According to UNCTAD, in 2016, the global maritime trade volumes increased by 2.6% with container trade accounting for more than 23% of the global marine trade. MGO marine engines market is set to witness growth owing to the paradigm shift by shipowners toward adoption of eco-friendly fuel coupled with introduction of regulations and norms by IMO under the MARPOL. Generation of the lowest fuel concentration of SOx and NOx is one of the distinct feature propelling the product demand. The U.S. marine engines market is anticipated to exceed USD 1 billion by 2024. Ongoing research activities to develop systems in compliance to the environmental norms will augment the industry landscape. In addition, ongoing retrofitting activities across shipping yards toward the deployment of low emission systems will further complement the product demand.

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Notable industry players include Brunswick, Anglo Belgian, Caterpillar, Daihatsu Diesel, Cummins, Deutz, Shanghai Diesel, John Deere, MAN D & T, Rolls Royce, STX, Scania, Volvo Penta, W?rtsil, IHI Corporation, Yanmar, Yamaha, Yuchai and Weichai.

Large-scale adoption of vessels including tankers, bulk carriers and cargo will fuel the low-speed marine engines market growth. Global rise across seagoing vessel trade coupled with cost efficient fuel utilization will encourage the product demand. Furthermore, increasing adoption of these products across merchant and container vessels will stimulate the business growth. Recreational marine engines market is projected to grow owing to rising disposable income coupled with improving standard of living. Increasing demand for comfort and luxury, resulting in growing investments toward cruise vessels will subsequently boost the industry landscape. Positive outlook toward tourism industry as a result of resurgent economic growth post-recession will further enhance the business landscape.

Positive outlook towards shipbuilding industry along with technological innovations to develop clean fuel engines is set to stimulate Germany marine engines market growth. Shifting focus toward cruise ships, wind farm service, mega yachts, military and ro-pax will boost the product penetration. Limited maintenance and lightweight unit requirement are the prime imperative factors that will enhance the medium speed marine engines market. In addition, growing maritime tourism along with rising demand for cruise ships and ferries will positively impact the industry outlook. As per FCCA, in 2015, cruise ships voyaged over 23 billion passengers across the globe.

Two-stroke marine engines market is projected to witness strong growth on account of technological advancements for the improvement in operational efficiency to comply with the environmental norms. These systems have thermal efficiency as high as over 50% and offers higher power even at low rotational speed.

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Table of Content

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Marine engines Market Industry Insights

Chapter 4. Marine Engines Market, By Fuel

Chapter 5. Marine Engines Market, By Power

Chapter 6. Marine Engines Market, By Technology

Chapter 7. Marine Engines Market, By Propulsion

Chapter 8. Marine Engines Market, By Application

Chapter 9. Marine Engines Market, By Region

Chapter 10.    Company Profiles

10.1. Anglo Belgian Corporation

10.2. Brunswick Corporation

10.3. Caterpillar

10.4. Cummins Inc

10.5. Daihatsu Diesel Mfg. Co., Ltd.

10.6. Rolls-Royce

10.7. DEUTZ AG

10.8. IHI Corporation Ltd.

10.9. John Deere

10.10. Arteche

10.11. Shanghai Diesel Engine Co., Ltd.

10.12. Scania

10.13. MAN Diesel & Turbo

10.14. STX Engine

10.15. Volvo Penta

10.16. Wartsila

10.17. Weichai Power Co., Ltd.

10.18. Guangxi Yuchai Group

10.19. Yanmar Holdings Co., Ltd

10.20. Yamaha

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