Asia Pacific Marine Engines Market to cross $8 bn by 2024: Cummins, John Deere, Hyundai Motor India Ltd., DEUTZ AG, Wärtsilä, MAN Energy Solutions, Mitsubishi, Yamaha Motor Corporation, USA, Caterpillar Inc., Scania Group, Rolls-Royce and Brunswick Corp

According to the Graphical Research new growth forecast report titled “Asia Pacific Marine Engines Market analysis based on Fuel, Power, Technology, Propulsion, Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 8 billion by 2024.

Shifting focus toward the development for non-conventional fuels coupled with the high acceptance of marine outboard engines will drive the LNG marine engines market size. Easy availability along with cost efficiency of LNG as bunker fuel when compared with HSFO will enhance the product penetration. In addition, increasing regulatory pressure on ship vendors pertaining to the practice of clean fuels will propel the demand for sustainable engines.

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Asia Pacific Marine Engines Market is predicted to exceed USD 8 billion by 2024. Growing international merchandise trade driven by the global foreign direct trade investments will thrust the industry growth. Regulatory norms introduced by respective government authorities pertaining to the prevention of marine pollution and maritime safety & security will further stimulate the marine engines market share. Furthermore, the presence of majority of ship manufacturers across the region will boost the product adoption.

China marine engines market will account for USD 2 billion by 2024. Increasing government mandates to promote the use of LSFO along with extensive product development pertaining to marine diesel engines will complement the industry landscape. Stringent protocols established by government authorities pertaining to rising environmental concerns will augment the product demand. For instance, in August 2016, China’s Ministry of environmental Protection and AQSIQ, jointly introduced the emission standards for marine engines used in domestic shipping.

Ongoing technological advancement in the propulsion products to maximize energy efficiency and power output will drive the 1,000-5,000 HP marine engines market growth. Shifting focus toward the development of feasible electric motors to limit greenhouse gas emissions will stimulate the product demand.

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Regulatory agencies across the region have adopted policy measures which are encouraging the implementation of low emission units, positively impacting Asia Pacific marine engines market share. Introduction of global sulphur cap with 0.5% will directly affect the marine industry of the region further, increasing the demand of clean fuel engines.

Key industry players across the Asia Pacific marine engines market include Anglo Belgian, Cummins, Wärtsilä, Hyundai, Deutz, MAN Energy Solutions, Mitsubishi, Yamaha, Yanmar, Yuchai, Caterpillar, Scania, Weichai, Rolls Royce, John Deere, Brunswick Corporation and IHI Corporation.

Segments We Cover:

APAC Marine Engines Market Statistics, By Fuel
MDO
MGO
LNG
Hybrid
Others

APAC Marine Engines Market Trends, By Power
< 1,000 HP
1,000-5,000 HP
5,000-10,000 HP
10,000-20,000 HP
> 20,000 HP

APAC Marine Engines Market Growth, By Technology
Low Speed
Medium Speed
High Speed

APAC Marine Engines Market Analysis, By Propulsion
2-stroke
4-stroke

APAC Marine Engines Market Forecast, By Application
Commercial
Offshore
Recreational
Navy
Others

The above information has been provided for the following countries:
China
Japan
India
South Korea
Australia
Vietnam
Singapore

Browse key industry insights from this 2018 report @
https://www.graphicalresearch.com/industry-insights/1038/asia-pacific-marine-engines-market

About Graphical Research:

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