Press release
Marine Diesel Engines Market – Growth Opportunities and Challenges 2017-2024
Global Marine Diesel Engines Market is set to grow over 5% and surpass USD 7 billion by 2024. Upsurge in investment towards shipbuilding sector along with upsurge in demand for economically viable systems will augment marine diesel engines market. In the U.S., the shipbuilding industry contribution was over USD 37.3 billion in 2015 towards the country GDP. Increasing usage as an alternative engine coupled with high reliability will further complement the industry growth.
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Growing R & D in the direction of environment friendly technology along with increase in seaborne trade will propel the marine diesel engines market. As per the United Nations Conference on Trade and Development (UNCTAD), in 2014, the global seaborne trade expanded by 3.4% when compared to 2013. However, introduction of Emission Control Areas (ECA) regions and IMO emissions standards will act as a restraint for the industry.
Decline in crude oil prices coupled with positive outlook towards shipping sector will further propel the business landscape. Major shipbuilding hubs including South Korea, Japan, and China have witnessed an increase in demand of ship production including container vessels, tanker vessels, and bulk carriers owing to easy fuel availability and cost affordability.
High speed engines accounted for over 20% of the marine diesel engines market in 2016. Increasing orders for tug boats, freight carriers, and navy vessels will foster the industry outlook. Increasing demand for recreational vessels including ferries and cruise on account of enhancement in standard of living and increasing disposable income will positively encourage the medium speed engines market. MAN D&T in 2016, contracted with Star Cruise to deliver medium speed engines for cruise ships.
In 2016, marine diesel engines market from Germany was valued over USD 150 million. Increasing government strategies and initiatives towards development of engine technology will complement the industry outlook. As per the National Master Plan for Marine Technology (NMMT), shipbuilding industry in 2015 was valued at USD 19.9 billion and is predicted to reach USD 25.48 billion by 2018.
Increasing shipbuilding companies along with growing investments towards manufacturing of environmentally safe engines will positively impact the marine diesel engines market in China. In 2014, the government of China issued a financial package to simplify the money stock. In 2015, MAN D&T signed an agreement for ten-year with CSSC and CISC to produce low speed diesel engines in China.
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Key industry players include Wartsilla, MAN D&T, Teekay, NYK Lines, OSK Lines, COSCO, Kawasaki Kisen Kaisha and China Shipping Development.
Chapter 4. Marine Diesel Engines Market, By Technology
4.1. Marine Diesel Engines market share by technology, 2016 & 2024
4.2. Low Speed
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013-2024
4.3. Medium Speed
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013-2024
4.4. High Speed
4.4.1. Market estimates and forecast, 2013-2024
4.4.2. Market estimates and forecast, by region, 2013-2024
Chapter 5. Marine Diesel Engines Market, By Application
5.1. Marine Diesel Engines market share by application, 2016 & 2024
5.2. Merchant
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.2.3. Container Vessels
5.2.3.1. Market estimates and forecast, 2013-2024
5.2.3.2. Market estimates and forecast, by region, 2013-2024
5.2.4. Tankers
5.2.4.1. Market estimates and forecast, 2013-2024
5.2.4.2. Market estimates and forecast, by region, 2013-2024
5.2.5. Bulk Carriers
5.2.5.1. Market estimates and forecast, 2013-2024
5.2.5.2. Market estimates and forecast, by region, 2013-2024
5.2.6. Gas Carriers
5.2.6.1. Market estimates and forecast, 2013-2024
5.2.6.2. Market estimates and forecast, by region, 2013-2024
5.2.7. Roll On/Roll Off
5.2.7.1. Market estimates and forecast, 2013-2024
5.2.7.2. Market estimates and forecast, by region, 2013-2024
5.3. Offshore
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.3.3. Drilling Rigs and Ships
5.3.3.1. Market estimates and forecast, 2013-2024
5.3.3.2. Market estimates and forecast, by region, 2013-2024
5.3.4. Anchor Handling Vessel
5.3.4.1. Market estimates and forecast, 2013-2024
5.3.4.2. Market estimates and forecast, by region, 2013-2024
5.3.5. Offshore Research Vessels
5.3.5.1. Market estimates and forecast, 2013-2024
5.3.5.2. Market estimates and forecast, by region, 2013-2024
5.3.6. Floating Production Units
5.3.6.1. Market estimates and forecast, 2013-2024
5.3.6.2. Market estimates and forecast, by region, 2013-2024
5.3.7. Platform Supply Vessels
5.3.7.1. Market estimates and forecast, 2013-2024
5.3.7.2. Market estimates and forecast, by region, 2013-2024
5.4. Cruise and Ferry
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.4.3. Cruise Vessels
5.4.3.1. Market estimates and forecast, 2013-2024
5.4.3.2. Market estimates and forecast, by region, 2013-2024
5.4.4. Passenger Ferries
5.4.4.1. Market estimates and forecast, 2013-2024
5.4.4.2. Market estimates and forecast, by region, 2013-2024
5.4.5. Cargo Ferries
5.4.5.1. Market estimates and forecast, 2013-2024
5.4.5.2. Market estimates and forecast, by region, 2013-2024
5.4.6. Fast Ferries
5.4.6.1. Market estimates and forecast, 2013-2024
5.4.6.2. Market estimates and forecast, by region, 2013-2024
5.4.7. Yachts
5.4.7.1. Market estimates and forecast, 2013-2024
5.4.7.2. Market estimates and forecast, by region, 2013-2024
5.5. Navy
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Market estimates and forecast, by region, 2013-2024
Browse Full TOC @ https://www.gminsights.com/toc/detail/marine-diesel-engine-market
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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