Marine Engines Market is set to grow over 4% by 2024 | Some Top Key Players are Brunswick Corporation, Daihatsu Diesel, Cummins, Volvo Penta, IHI Corporation, Yanmar, Yamaha, Weichai, and Yuchai

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.

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.

MDO engines are widely acceptable by ship operators owing to their availability and favorable price levels. However, increasing emission control areas (ECAs) coupled with rising awareness toward emissions may act as an industry restraint. Introduction of norms and regulations to reduce marine pollution has led to an increase in demand for low-emission systems. Industry players, to follow the directive norms, have introduced their diversified product lines with advanced systems including catalytic reactors and scrubbers.

Germany accounted for over 18% of the Europe market share in 2017. Growing shipbuilding industry coupled with technological advancements to develop cleaner engines will positively impact the product penetration. The country’s focus on specialized vessels including river cruise ships, mega yachts, wind farm service, military and ro-pax will further complement the industry growth.

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Table of Content
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Commercial Boiler Industry Insights
Chapter 4. Global Commercial Boiler Market, By Fuel
Chapter 5. Global Commercial Boiler Market, By Application
Chapter 6. Global Commercial Boiler Market, By Capacity
Chapter 7. Global Commercial Boiler Market, By Technology
Chapter 8. Global Commercial Boiler Market, By Region
Chapter 9. Company Profiles

Marine engines market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2013 to 2024, for the following segments:

Marine Engines Market, By Fuel
• MDO
• MGO
• LNG
• Hybrid
• Others

Marine Engines Market, By Technology
• Low Speed
• Medium Speed
• High Speed

Marine Engines Market, By Propulsion
• 2-stroke
• 4-stroke

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