Marine Propulsion Engine Market is Expected to Reach Reach $12 Billion, By Leading Industry Players Caterpillar, Cummins Inc., Rolls-Royce Plc, Wrtsil, MAN Diesel & Turbo, Hyundai Heavy Industries Co., Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Scania, YANM

The marine propulsion engine market was valued at $9 billion in 2015 and is projected to reach $12 billion by 2022, growing at a CAGR of 4.1% from 2016 to 2022, according to a new report published by Allied Market Research. Diesel propulsion system segment is expected to maintain its dominance throughout the forecast period. Asia-Pacific accounted for the highest share of 51% in 2015, and is anticipated to maintain this trend.

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Marine propulsion engine creates thrust to move ship across the water by converting chemical energy to mechanical energy. Increase in production & sales of ships globally and rise in international seaborne trade drives the market growth. In addition, increase in demand for resources such as crude oil, coal, steel, and iron from developing countries is another driver for the growth of the market. However, stringent environmental rules & regulations and large capital investment required to set up new manufacturing facilities hamper the market growth. Moreover, rise in usage of inland waterways and advancement in technology, such as new alternative fuel propulsion engine, are expected to provide lucrative opportunities for new products and boost the market growth.

Increase in production & sales of ships globally and rise in international seaborne trade drive the market growth. In addition, increase in demand for resources such as crude oil, coal, steel, and iron from developing countries fuels the market growth. However, stringent environmental rules & regulations and large capital investment required to set up new manufacturing facilities hamper the market growth. Irrespective of these challenges, rise in usage of inland waterways and advancement in technology, such as new alternative fuel propulsion engine, are expected to provide various opportunities for new products and boost the market growth.

Diesel propulsion system is the most common marine propulsion system used in all types of vessel along with small and recreational boats. Moreover, diesel marine propulsion engine led the overall market, accounting for 70% in 2015. This is attributed to its benefits such as high reliability, economical nature, low maintenance cost, and easy availability of diesel globally.

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Asia-Pacific is the most lucrative marine propulsion engine market, owing to increase in shipbuilding industries in China & South Korea and growth in number of joint ventures with international brands. Moreover, rise in seaborne trade of crude oil mostly from Middle East countries to Asia-Pacific is another factor that drives the Asia-Pacific marine propulsion engine market.

LIST of TABLE

TABLE 1. GLOBAL MARINE PROPULSION ENGINE MARKET, BY POWER SOURCE, 2014-2022 ($MILLION)
TABLE 2. GLOBAL DIESEL PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 3. GLOBAL GAS TURBINE PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 4. GLOBAL NATURAL GAS PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 5. GLOBAL OTHERS PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 6. GLOBAL MARINE PROPULSION ENGINE MARKET, BY SHIP TYPES, 2014-2022 ($MILLION)
TABLE 8. GLOBAL CARGO OR CONTANIER PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 9. GLOBAL TANKER PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 10. GLOBAL BULK CARRIER PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 11. GLOBAL OFFSHORE VESSEL PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 12. GLOBAL PASSENGER SHIP PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 13. GLOBAL OTHERS PROPULSION ENGINE MARKET, REVENUE, BY REGION ($MILLION), 2014-2022
TABLE 14. MARINE PROPULSION ENGINE MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 15. NORTH AMERICA: MARINE PROPULSION ENGINE MARKET, BY POWER SOURCE, 2014-2022 ($MILLION)
TABLE 16. NORTH AMERICA: MARINE PROPULSION ENGINE MARKET, BY SHIP TYPE, 2014-2022 ($MILLION)
TABLE 17. NORTH AMERICA: MARINE PROPULSION ENGINE MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 18. EUROPE: MARINE PROPULSION ENGINE MARKET, BY POWER SOURCE, 2014-2022 ($MILLION)
TABLE 19. EUROPE: MARINE PROPULSION ENGINE MARKET, BY SHIP TYPE, 2014-2022 ($MILLION)
TABLE 20. EUROPE: MARINE PROPULSION ENGINE MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 21. ASIA-PACIFIC: MARINE PROPULSION ENGINE MARKET, BY POWER SOURCE, 2014-2022 ($MILLION)
TABLE 22. ASIA-PACIFIC: MARINE PROPULSION ENGINE MARKET, BY SHIP TYPE, 2014-2022 ($MILLION)
TABLE 23. ASIA-PACIFIC: MARINE PROPULSION ENGINE MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 24. LAMEA: MARINE PROPULSION ENGINE MARKET, BY POWER SOURCE, 2014-2022 ($MILLION)
TABLE 25. LAMEA: MARINE PROPULSION ENGINE MARKET, BY SHIP TYPE, 2014-2022 ($MILLION)
TABLE 26. LAMEA: MARINE PROPULSION ENGINE MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 27. CATTERPILLAR. COMPANY SNAPSHOT
TABLE 28. CATTERPILLAR: OPERATING SEGMENTS
TABLE 29. CUMMINS INC.: COMPANY SNAPSHOT
TABLE 30. CUMMINS INC.: OPERATING SEGMENTS
TABLE 31. DAIHATSU DIESEL MFG. CO., LTD.: COMPANY SNAPSHOT
TABLE 32. DAIHATSU DIESEL MFG. CO., LTD.: OPERATING SEGMENTS
TABLE 33. HYUNDAI HEAVY INDUSTRIES CO., LTD.: COMPANY SNAPSHOT
TABLE 34. HYUNDAI HEAVY INDUSTRIES CO., LTD: OPERATING SEGMENTS
TABLE 35. MAN SE (MAN DIESEL & TURBO). COMPANY SNAPSHOT
TABLE 36. MAN SE (MAN DIESEL & TURBO): OPERATING SEGMENTS
TABLE 37. MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 38. MITSUBISHI HEAVY INDUSTRIES, LTD.: OPERATING SEGMENTS
TABLE 39. ROLLS-ROYCE PLC: COMPANY SNAPSHOT
TABLE 40. ROLLS-ROYCE PLC: OPERATING SEGMENTS
TABLE 41. SCANIA: COMPANY SNAPSHOT
TABLE 42. SCANIA: OPERATING SEGMENTS
TABLE 43. WRTSIL: COMPANY SNAPSHOT
TABLE 44. WRTSIL: OPERATING SEGMENTS
TABLE 45. YANMAR CO., LTD.: COMPANY SNAPSHOT
TABLE 46. YANMAR CO., LTD.: OPERATING SEGMENTS

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