(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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