|07-13-2018 03:16 PM CET - Logistics & Transport||
Marine Diesel Engines Market Top Players are A.P. Møller-Maersk, Wartsila, Man D&T, NYK, Mitsui OSK, COSCO, MSC Mediterranean Shipping, Anangel Shipping, Kawasaki Kisen Kaisha, China Shipping, Teekay, Carnival, China Merchants CMA CGM, BW, Euronav NV, Si
Press release from: Global Market Insights, Inc.
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 marine diesel engines industry growth.
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.
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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.
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.
Offshore application accounted for over 18% in global marine diesel engines market share in 2016. Increasing demand for offshore vessels including FPSO, drill ships and rigs owing to rise in shale exploration will augment the business landscape. Upsurge in demand for tankers, container vessels, bulk carriers, and gas carriers will fuel the marine diesel engines industry for merchant application. According to the Eurostat’s in 2015, Germany ports handled 126 million tons of container cargo.
Marine diesel engines industry key players include Wartsilla, MAN D&T, Teekay, NYK Lines, OSK Lines, COSCO, Kawasaki Kisen Kaisha and China Shipping Development.
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Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definition, scope & forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Marine Diesel Engines industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Technology trends
2.1.4. Application trends
Chapter 3. Marine Diesel Engines Market Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distribution landscape
3.4. Innovation landscape
3.5. Regulatory landscape
3.6. Shipbuilding industry trends & forecast
3.7. Global operated fleet, by Operators
3.8. Industry impact forces
3.8.1. Growth drivers
18.104.22.168. Expansion in seaborne trade
22.214.171.124. Cost effective usage
126.96.36.199. Increasing maritime tourism
3.8.2. Industry pitfalls & challenges
188.8.131.52. Stringent regulations against emissions
3.9. Growth potential analysis
3.10. Technology Landscape
3.10.1. Low speed
3.10.2. Medium speed
3.10.3. High speed
3.11. Porter's analysis
3.12. Company market share, 2016
3.12.1. Strategy dashboard
3.12.2. Mergers & acquisitions landscape
3.13. PESTEL analysis
About Global Market Insights:
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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