Marine Diesel Engines Market Application Growth Potential Analysis Report Profiling Companies Like Wartsila, NYK Line, Man D&T, Mitsui OSK Lines, Kawasaki Kisen Kaisha, COSCO, CMA CGM Holding

Market Study Report adds a new A tremendous increase in consumer spending and the rapidly developing transport industry have turned out to be pivotal factors for the growth of marine diesel engines market, with the rising popularity of ferries, commercial vessels and cruises for the period of 2017-2024 that shows the growth of the market is rising at a Steady CAGR to 2024.

Marine Diesel Engines Market size is set to exceed USD 7 billion by 2024, according to a new research report.

Growing demand for economic viable engines coupled with rise in seaborne trade will drive marine diesel engines market. According to United Nations Conference on Trade & Development (UNCTAD), global seaborne trade in 2014 expanded by 3.4% when compared to 2013. High reliability and alternative use as an auxiliary engine will further propel the business landscape.

Rise in investment towards shipbuilding sector coupled with increasing research and development towards environment friendly technology will stimulate the U.S. marine diesel engines market size. In 2015, the U.S. shipbuilding industry contributed over USD 37.3 billion in the country?s GDP. However, introduction of emission norms by MARPOL and IMO may act as industry restraint.

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Optimum utilization of fuel coupled with cost affordability will enhance marine diesel engines market share. Decline in crude oil price with a positive outlook toward shipbuilding industry may further stimulate the product demand. Major shipbuilding hubs including China and South Korea have witnessed an upsurge in the demand for these products owing to easy fuel availability and affordable pricing.

In 2016, Germany marine diesel engines market was valued over USD 150 million. Growing government initiatives and strategies including National Master Plan for Marine Technology (NMMT) will positively impact the industry size. According to NMMT, the revenue from shipbuilding industry in 2015 was USD 19.9 billion and is projected to reach USD 25.48 billion by 2018.

China marine diesel engines market will witness strong growth owing to increasing number of shipbuilding companies coupled with rising investment towards manufacturing ecologically safe diesel engines. In 2014, the Government of China issued a financial stimulus package which has facilitated the money stock. Fast reduction in interest rates of short-term instruments created profitable financing prospects for the shipbuilding industry. The China State Shipbuilding Corporation (CSSC) successfully issued bonds worth over USD 700 million with a 4.6% annual rate of return, significantly reducing financing costs.

Key players in the marine diesel engines market include Wartsila, NYK Line, Man D&T, Mitsui OSK Lines, Kawasaki Kisen Kaisha, COSCO, CMA CGM Holding, China Shipping Development, Teekay and A.P. M?ller-Maersk.

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Table of Content:

Chapter 1. Methodology and Scope
1.1. Methodology
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
1.2.1. Primary
1.2.2. Secondary
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
3.5.1. U.S.
3.5.1.1. MARPOL
3.5.2. UK
3.5.3. Japan
3.5.4. Europe
3.5.5. IMO
3.5.6. China
3.6. Shipbuilding industry trends & forecast
3.7. Global operated fleet, by Operators
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.1.1. Expansion in seaborne trade
3.8.1.2. Cost effective usage
3.8.1.3. Increasing maritime tourism
3.8.2. Industry pitfalls & challenges
3.8.2.1. 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

Outside scope of this report as disposable incomes continue to rise across the globe, leading to a spurt in travel enthusiasts, regional governments have been taking efforts to promote tourism, encouraging major cruise lines to undertake expansion activities. An upsurge in the international fleet size will not only enable travel companies to chart out more variety of cruises but also offer customers a broader range of destination choices, contributing towards the growth of the maritime tourism industry.

According to an article in the New Zealand Herald, the number cruise ship passengers in New Zealand had gone up by 17 percent over a 12-year period starting June 2017. The data further reveals that Australia, Britain and the U.S. constituted up to 72% of all the passengers, signifying the global potential for the development of cruise ship companies. Demand for medium speed diesel engines is expected to be catapulted over the next few years, as shipyards across the world are engaged in building of luxury liners, with a large number of ships in the pipeline ordered by several corporations. For instance, Carnival Cruise Lines has commissioned three new cruise ships that will provide multiple cruises and has another 3,954-passenger cruise ship slated to be launched in December 2019. Subsequently, the marine diesel engines market will gain remarkable momentum in the coming years as other cruise companies make similar attempts to expand their fleet sizes.

For more details about this report: https://www.marketstudyreport.com/reports/marine-diesel-engines-market-size-by-technology-low-speed-medium-speed-high-speed-by-application-merchant-container-vessels-tankers-bulk-carriers-gas-carriers-roll-on-roll-off-offshore-drilling-rigs-and-ships-anchor-handling-vessels-offshore-research-vessels-floating-production-units-platform-supply-vessels-cruise-and-ferry-cruise-vessels-passenger-ferries-cargo-ferries-fast-ferries-yachts-navy-industry-analysis-report-regional-outlook-u-s-canada-germany-italy-norway-uk-france-russia-denmark-chi

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