Marine Propulsion Engine Market 2018 Key Players are MAN Diesel & Turbo, Wärtsilä, Mitsubishi, Caterpillar, Yamaha, Volvo Penta, Sinopec, Shell, Idemitsu, Hydrosta BV, Hydraulic Marine Systems, Exxon Mobil Corp, Cummins

Market Overview:-

Growing demand for operationally consistent and fuel efficient ships is expected to increase global marine propulsion engine market size over the coming years. Increasing use of renewable sources of energy such as wind energy, solar energy etc., for enhancing efficiency and reducing carbon emissions is projected to promote industry growth in near future. According to Global Market Insights, Inc., “Marine Propulsion Engine market size worth USD 9 billion in 2015, is anticipated to reach USD 13.3 billion by 2024, registering a CAGR of 4.3% over 2016-2024.” High emphasis on improving diesel engine capacity of the ships with large cargo carrying capability is predicted to boost the industry trends over the next few years. Today, shipping industry is largely focusing on developing new type of electric motors which will improve fuel efficiency and reduce environmental pollution.

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Major marine propulsion engine products include natural gas, diesel, fuel cell, steam turbine, wind & solar, and gas turbine engines. Wind & solar marine propulsion engine market, which contributed over 3.5 % of the overall revenue in 2015, is expected to grow at a rate of 5.9% over 2016-2024. The growth can be credited to favorable government policies supporting the product applications in shipping industry due to its eco-friendly nature. Diesel propulsion engine market price worth USD 6 billion in 2015, is expected to register a CAGR of 4.2% over the coming eight years.

Top Key Players:-     

The key players of global Marine Propulsion Engine Market are MAN Diesel & Turbo, Wärtsilä, Mitsubishi, Caterpillar, Yamaha, Volvo Penta, Sinopec, Shell, Idemitsu, Hydrosta BV, Hydraulic Marine Systems, Exxon Mobil Corp, and Cummins.

Regional Segmentations:-

Asia Pacific marine propulsion market size worth USD 4.5 billion in 2015, is predicted to record substantial gains of 4.8% over 2016-2024 owing to heavy investments by private players as well as the government.  South Korea and China are predicted to make significant contributions to the regional share over the coming years.

North America market is expected to witness a significant growth over the coming eight years owing to the large use of LNG as a marine or ship fuel. U.S. is predicted to be a key revenue contributor of the region.

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Major Points of Table Of Content:-

Chapter 1.    Methodology and Scope

1.1.   Research Methodology

1.1.1.     Initial data exploration

1.1.2.     Statistical model and forecast

1.1.3.     Industry insights and validation

1.2.   Data Sources

Chapter 2.   Executive Summary

2.1.   Marine propulsion engine industry 3600 synopsis, 2013 - 2024

2.1.1.     Business trends

2.1.2.     Regional trends

2.1.3.     Product trends

Chapter 3.   Marine Propulsion Engine Industry Insights

3.1.   Industry segmentation

3.2.   Industry Size and forecast, 2013 - 2024

3.3.   Industry ecosystem analysis

3.4.   Technological landscape

3.5.   Industry Impact forces

3.5.1    Growth drivers

3.5.1.1   Rising demand for operationally-dependable and efficient ships

3.5.1.2   Introdution of nuclear propulsion engines

3.5.1.3   Rising LNG prominence

3.5.1.4   Growing prefrence for non-conventional energy sources

3.5.2    Industry pitfalls & challenges

3.5.2.1   Strict emission standards

3.5.2.2   Renewable energy sources limitations for primary propulsion

3.6.   Growth potential analysis

3.7.   Porter’s analysis

3.8.   Key competitor landscape

3.9.   PESTEL analysis

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The growth can be attributed to rapid advancements in various technologies such as fuel injection technology, firing pressures, brake mean effective pressure, and turbo charging efficiency. Gas turbine propulsion market share worth USD 900 million in 2015, is anticipated to witness a high surge over 2016-2024 due to accelerated sprint operation mode provided by these turbines. They also find extensive applications in naval and defense sectors.  Fuel cell propulsion market is predicted to witness a substantial growth over the coming years as the product offers high growth potential for ship impulsion and can boost the performance of low-powered auxiliary impulsion machinery. Furthermore, high demand for electric transmission is predicted to increase the use of fuel cells over the next few years.

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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