Press release
Marine Engines Market Analysis Focusing on Top Key Players Caterpillar, Daihatsu Diesel, Cummins, Deutz, Shanghai Diesel, John Deere, MAN D&T, Rolls Royce, STX, Scania, Volvo Penta
The U.S. marine engines market is anticipated to exceed USD 1 billion by 2024. Ongoing research activities to develop systems in compliance to the environmental norms will augment the industry landscape. In addition, ongoing retrofitting activities across shipping yards toward the deployment of low emission systems will further complement the product demand.
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Notable industry players include Brunswick, Anglo Belgian, Caterpillar, Daihatsu Diesel, Cummins, Deutz, Shanghai Diesel, John Deere, MAN D&T, Rolls Royce, STX, Scania, Volvo Penta, W?rtsil, IHI Corporation, Yanmar, Yamaha, Yuchai and Weichai.
Marine Engines market is predicted to exceed USD 13 billion by 2024. Positive outlook toward marine industry along with rising seaborne trade will drive the business growth. In line with developments in the world economy, demand for shipping services witnessed robust growth. According to UNCTAD, in 2016, the global maritime trade volumes increased by 2.6% with container trade accounting for more than 23% of the global marine trade.
Recreational marine engines market is projected to grow owing to rising disposable income coupled with improving standard of living. Increasing demand for comfort and luxury, resulting in growing investments toward cruise vessels will subsequently boost the industry landscape. Positive outlook toward tourism industry as a result of resurgent economic growth post-recession will further enhance the business landscape.
Large-scale adoption of vessels including tankers, bulk carriers and cargo will fuel the low-speed marine engines market growth. Global rise across seagoing vessel trade coupled with cost efficient fuel utilization will encourage the product demand. Furthermore, increasing adoption of these products across merchant and container vessels will stimulate the business growth.
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MGO marine engines market is set to witness growth owing to the paradigm shift by shipowners toward adoption of eco-friendly fuel coupled with introduction of regulations and norms by IMO under the MARPOL. Generation of the lowest fuel concentration of SOx and NOx is one of the distinct feature propelling the product demand.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Marine Engines Industry Insights
Chapter 4 Marine Engines Market, By Fuel
Chapter 5 Marine Engines Market, By Power
Chapter 6 Marine Engines Market, By Technology
Chapter 7 Marine Engines Market, By Propulsion
Chapter 8 Marine Engines Market, By Application
Chapter 9 Marine Engines Market, By Region
Chapter 10 Company Profiles
For More Details On this Report: https://www.marketstudyreport.com/reports/marine-engines-market
Related Report:
United States Military Marine Engines Market Report 2018
In this report, the United States Military Marine Engines market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
https://www.marketstudyreport.com/reports/united-states-military-marine-engines-market-report-2018/?utm_source=RR-AN
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