Marine Engines Market Trend Analysis, Latest Revenue Figures

 The Marine Engines Market size is projected to reach a CAGR of 3.9% from 2022 to 2028.

Marine propulsion is the system or mechanism used to generate thrust that allows a small boat or even a ship to move across waterways. Modern ships are usually equipped with mechanical systems consisting of an electric motor turning a propeller, or even pump-jets or an impeller, and they use reciprocating engines as the main source of power.

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Growth in international marine freight transport, growth in maritime tourism, and increasing adoption of smart engines for situational awareness and safety are some of the factors that have supported long-term expansion for Marine Engines Market.

Recent Developments

In August 2021, Yanmar Marine International commenced installations of its new high horsepower 6LF diesel engines, with outstanding results reported from the first project completed in Europe. In the milestone installation, certified Yanmar dealer Motonáutica Balear in Mallorca repowered Magnum 40 motorboat Adriana with two Yanmar 6LF530 models and upgraded the electronics and controls.

In February 2019, MAN Diesel & Turbo SE won the contract to supply the engines for a new harbor tug in Spain, which would be operated by P&O Reyser in the Port of Barcelona, which is expected to enter service from mid-2020.

Prominent Players

• MAN Diesel & Turbo

• Wartsila

• Hyundai Heavy Industries Co. Ltd

• Daihatsu Diesel Mfg. Co. Ltd

• Caterpillar

• Mitsubishi Heavy Industries

• Volvo Penta

• Rolls-Royce

• Cummins

• GE Transportation

• Deutz AG

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Asia Pacific to Dominate the Market

Asia Pacific is expected to be the largest marine engines market during the forecast period. Asia Pacific comprises China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific.

Marine Engines Market Segmentation:

On the basis of Range

·        Up to 1000 hp

·        1001 – 5000 hp

·        5001 – 10000 hp

·        10001 – 20000 hp

·        Above 20000 hp

On the basis of Engine

·        Propulsion Engine

·        Auxiliary Engine

On the basis of Vessel

·        Commercial Vessel

·        Offshore Support Vessel

·        Others

On the basis of Type

·        Two-stroke

·        Four-stroke

On the basis of Fuel   

·        Heavy Fuel oil

·        Intermediate Fuel Oil

·        Marine Diesel Oil

·        Marine Gas Oil

·        Other

Based on region:

·        Asia Pacific

·        North America

·        Europe

·        South America

·        Middle East & Africa

The Report helps to identify the opportunities in Global Regions:

·        North America (the United States, Canada, and Mexico)

·        Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)

·        Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))

·        South America (Brazil etc.)

·        The Middle East and Africa (North Africa and GCC Countries)

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• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.

• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

In addition to the market data for Marine Engines Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.

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