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Marine Engines Market Key Players are Anglo Belgian Corporation, Brunswick Corporation, Caterpillar Inc., Cummins Inc., Rolls-Royce, Daihatsu Diesel Mfg. Co., Ltd., DEUTZ AG, IHI Corporation, John Deere, Arteche, Shanghai Diesel Engine Co., Ltd., Scania G

08-16-2018 03:04 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Marine Engines Market

Marine Engines Market

Thriving on the cusp of the fierce stringency in regulatory framework, marine engines market today stands as one of the most challenging yet remunerative business spaces. One of the various supervisory measures swaying the marine engine industry trends is the mandatory roll outs enforced by the IMO (International Maritime Organization) under MARPOL Annex VI, with regards to limiting NOx and Sulphur oxides emission from ship exhausts. In response to these protocols, engine manufacturers are brainstorming innovative solutions that are not only efficient but also environmentally viable.

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Growth Drivers:
1. Expansion in seaborne trade
2. Increasing maritime tourism
3. Technological advancement in marine engines

In a recent turn of events across the marine engines market, Wärtsilä, the Finnish tech giant has recently made to the headlines with the news of its recent order regarding environmentally viable dredger for Damen Shipyards Group. Reportedly, Wärtsilä would manufacture these engines deploying SCR (selective catalytic reduction) technology to limit the toxic emissions, making it absolutely in compliance with IMO’s Tier III regulatory standards. Boasting of a portfolio of 103-meter length and 4975 gross tonnage, Wärtsilä’s dredger is likely to be one of the most sustainable ships of its kind in the marine industry.

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Increasing maritime trade activities is yet another vital factor having a strong impact on shaping the marine engines market trends. As per estimates, overall sea borne container trade accounted for almost 60% world seaborne trade in 2017, having held a valuation of nearly USD 12 trillion. In fact, the United Nations Conference on Trade & Development claims that the shipping industry, in 2017, almost procured 70% of the world trade share by revenue and 80% in terms of volume. In effect, it is quite apparent that the robust expansion in trading activities have catapulted marine engines industry size, which recorded a valuation of USD 10 billion in 2017.

Regionally, Asia Pacific has emerged to be one of the most lucrative growth grounds for marine engines market expansion, given the presence of large number of engine manufacturers in the region. Add to it, increased R&D budget toward enhancement of shipping industry in tandem with increased maritime trade across China and Indonesia has further proliferated APAC marine engines market share. In 2017, Asia Pacific procured almost 60% of the global marine engines market size.

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.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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You can edit or delete your press release Marine Engines Market Key Players are Anglo Belgian Corporation, Brunswick Corporation, Caterpillar Inc., Cummins Inc., Rolls-Royce, Daihatsu Diesel Mfg. Co., Ltd., DEUTZ AG, IHI Corporation, John Deere, Arteche, Shanghai Diesel Engine Co., Ltd., Scania G here

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