Marine Propulsion Engine Market Growing at the Highest CAGR of 4.1% - Competitive Analysis of Leading Market Players - Caterpillar, Cummins Inc., Rolls-Royce Plc, Wrtsil, MAN Diesel & Turbo, Hyundai Heavy Industries Co., Ltd., MITSUBISHI HEAVY INDUSTRIES,

Marine propulsion engine is a machine, which provides power to ships to move across the water. Adoption rate of alternative fuel propulsion system is high as compared to conventional diesel propulsion system, owing to their advantages such as low CO2 emission, flexibility, and significant NVH performance. Moreover, increase in carbon footprint has fueled the demand for natural gas and fuel cell marine propulsion engine. Asia-Pacific holds the significant share in market due to growth in shipbuilding industry in China & South Korea.

Global marine propulsion engine market is expected to reach $12 billion by 2022, growing at a CAGR of 4.1% from 2016 to 2022. Marine propulsion engines is a machine that burn fuel to create thrust, which helps ships to move across water. The marine propulsion engine market is expected to witness robust growth during the forecast period owing to various ongoing government investments in shipbuilding industry and inland waterways. Ships are integrated with one or more than one propulsion engines, depending on their size (gross tonnage). Moreover, in the early stage of marine propulsion, steam turbines were used; however, due to advancement in technology, diesel or alternative fuel engine and gas turbine have greater penetration.

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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.

Power source segment is divided into diesel, gas turbine, natural gas, and others (steam turbine, renewable energy, hybrid, and fuel cell). In 2015, diesel propulsion engine accounted for the largest revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to high efficiency and low cost of engine as compared to others. However, natural gas-powered engine segment is expected to witness the highest growth rate of 7.1%, owing to stringent emission rules and regulations.

By ship type, the market is categorized into cargo or container ship, tanker, bulk carrier, offshore vessel, passenger ship, and others (tugs & service ships). In 2015, cargo or container ship accounted for the largest market share due to rise in international seaborne trade of non-bulk cargo such as vehicles, food products, and electronics items. Bulk carrier segment is anticipated to show highest growth rate among ships type, owing to rise in demand of resources such as ore, coal, grains and other similar products in loose form.

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Asia-Pacific accounted for majority of revenue in 2015, and is expected to maintain its dominance, followed by Europe and North America. This is attributed to the rise in shipbuilding industry of South Korea and China.

Key players in the marine propulsion engine market are focused to expand their business operations in the emerging countries with new product launches as a preferred strategy. The major players profiled in this report include Caterpillar, Cummins Inc., Rolls-Royce Plc, Wrtsil, MAN Diesel & Turbo, Hyundai Heavy Industries Co., Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Scania, YANMAR CO., LTD., DAIHATSU DIESEL MFG.CO., LTD., Nigata Power Systems Co., Ltd., Fairbanks Morse Engine, Masson-Marine, and General Electric Company.

LIST of FIGURES

FIGURE 1. TOP WINNING STRATEGIES: PERCENTAGE DISTRIBUTION (2013-2016)
FIGURE 2. TOP WINNING STRATEGIES: NATURE and TYPE
FIGURE 3. TOP INVESTMENT POCKETS in GLOBAL MARINE PROPULSION ENGINE MARKET, BY POWER SOURCE
FIGURE 4. PORTERS FIVE FORCES ANALYSIS
FIGURE 5. MARKET SHARE ANALYSIS, 2015
FIGURE 6. GLOBAL MARINE PROPULSION ENGINE MARKET SHARE, BY POWER SOURCE, 2014 & 2022 (%SHARE)
FIGURE 7. GLOBAL DIESEL PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 8. GLOBAL DIESEL PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 9. GLOBAL GAS TURBINE PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 10. GLOBAL GAS TURBINE PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 11. GLOBAL NATURAL GAS PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 12. GLOBAL NATURAL GAS PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 13. GLOBAL OTHERS PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 14. GLOBAL OTHERS PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 15. GLOBAL MARINE PROPULSION ENGINE MARKET SHARE, BY SHIP TYPE, 2014 & 2022 (%SHARE)
FIGURE 16. GLOBAL CAROGO OR CONTANIER SHIP PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 17. GLOBAL CARGO OR CONTANIER PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 18. GLOBAL TANKER PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 19. GLOBAL TANKER PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 20. GLOBAL BULK CARRIER PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 21. GLOBAL BULK CARRIER PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 22. GLOBAL OFFSHORE VESSEL PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 23. GLOBAL OFFSHORE VESSEL PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 24. GLOBAL PASSENGER SHIP PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 25. GLOBAL PASSENGER SHIP PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 26. GLOBAL OTHERS PROPULSION ENGINE MARKET, COMPARATIVE REGIONAL MARKET SHARE ANALYSIS (%), 2014 & 2022
FIGURE 27. GLOBAL OTHERS PROPULSION ENGINE MARKET, REVENUE, ($MILLION), 2014-2022
FIGURE 28. GLOBAL MARINE PROPULSION ENGINE MARKET SHARE, BY REGION, 2014 & 2022 (%SHARE)
FIGURE 29. NORTH AMERICA: MARINE PROPULSION ENGINE MARKET SHARE BY POWER SOURCE (% SHARE), 2014 & 2022
FIGURE 30. NORTH AMERICA: MARINE PROPULSION ENGINE MARKET SHARE, BY SHIP TYPE (% SHARE), 2014 & 2022
FIGURE 31. NORTH AMERICA: MARINE PROPULSION ENGINE MARKET, REVENUE ($MILLION), 2014-2022
FIGURE 32. U.S.: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 33. CANADA: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 34. MEXICO: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 35. EUROPE: MARINE PROPULSION ENGINE MARKET SHARE BY POWER SOURCE (% SHARE), 2014 & 2022
FIGURE 36. EUROPE: MARINE PROPULSION ENGINE MARKET SHARE, BY SHIP TYPE (% SHARE), 2014 & 2022
FIGURE 37. EUROPE: MARINE PROPULSION ENGINE MARKET, REVENUE ($MILLION), 2014-2022
FIGURE 38. GERMANY: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 39. ROMANIA: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 40. ITALY: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 41. NORWAY: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 42. REST of EUROPE: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 43. ASIA-PACIFIC: MARINE PROPULSION ENGINE MARKET SHARE BY POWER SOURCE (% SHARE), 2014 & 2022
FIGURE 44. ASIA-PACIFIC: GLOBAL MARINE PROPULSION ENGINE MARKET SHARE, BY SHIP TYPE (% SHARE), 2014 & 2022
FIGURE 45. ASIA-PACIFIC: MARINE PROPULSION ENGINE MARKET, REVENUE ($MILLION), 2014-2022
FIGURE 46. CHINA. MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 47. JAPAN: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 48. SOUTH KOREA: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 49. REST of ASIA-PACIFIC: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 50. LAMEA: MARINE PROPULSION ENGINE MARKET SHARE BY POWER SOURCE (% SHARE), 2014 & 2022
FIGURE 51. LAMEA: MARINE PROPULSION ENGINE MARKET SHARE, BY SHIP TYPE (% SHARE), 2014 & 2022
FIGURE 52. LAMEA: MARINE PROPULSION ENGINE MARKET, REVENUE ($MILLION), 2014-2022
FIGURE 53. LATIN AMERICA: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 54. MIDDLE EAST: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 55. AFRICA: MARINE PROPULSION ENGINE MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 56. CATTERPILLAR: COMPANY SNAPSHOT
FIGURE 57. CUMMINS INC.: COMPANY SNAPSHOT
FIGURE 58. DAIHATSU DIESEL MFG. CO., LTD.: COMPANY SNAPSHOT
FIGURE 59. HYUNDAI HEAVY INDUSTRIES CO., LTD: COMPANY SNAPSHOT
FIGURE 60. MAN SE (MAN DIESEL & TURBO): COMPANY SNAPSHOT
FIGURE 61. MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
FIGURE 62. ROLLS-ROYCE PLC: COMPANY SNAPSHOT
FIGURE 63. SCANIA: COMPANY SNAPSHOT
FIGURE 64. WRTSIL: COMPANY SNAPSHOT
FIGURE 65. YANMAR CO., LTD.: COMPANY SNAPSHOT

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