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Marine Propulsion Engine Market 2019 Growth Opportunities and Current Trends

Marine Propulsion Engine Market

Marine Propulsion Engine Market

Marine Propulsion Engine Market size is expected to reach USD 13.31 billion by 2024; according to a new research report by Global Market Insights, Inc. Marine Propulsion Engine market research report includes in-depth coverage of the industry, with estimates &forecast in terms of revenue in USD million from 2013 to 2024

High demand for operationally dependable and fuel-efficient ships will drive the marine propulsion engine market share over the forecast timeline. Rapid innovation has led to the development of new energy efficient and high-performance products. Industry participants such as Rolls-Royce and Wartsila have continuously innovated and extended their product offerings to cater to growing demand for capacity handling.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/791

With decreasing demand for fuel bunkers, nuclear propulsion delivers more cargo space without refueling. Growing trend towards the development of the powerful engines in the shipping industry has been supplemented by the introduction of supertankers. Shift towards unconventional energy sources will fuel the marine propulsion market size over the forecast timeframe. Power derived from wind is free from exhaust pollutants. Solar power is also utilized as an auxiliary power source with the help of photovoltaic cells to generate electricity, thus driving the future of propulsion systems.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. BP
2. Caterpillar
3. Chevron
4. Cummins Inc.
5. ExxonMobil
6. Hydraulic Marine Systems
7. Hydrosta BV
8. Idemitsu Lubricants America
9. Ingeteam
10. Lukoil

Growing efforts toward enhancing engine capacities and introduction of larger cargo holding capacity containers has led to rapid innovation and development initiatives. Depleting shale and conventional gas reserves has increased demand for LNG (Liquefied Natural Gas) as marine fuel. It is used in reciprocating engines owing to its effective combustion capabilities.

Fuel cells will witness substantial growth opportunities due to high performance characteristics in auxiliary propulsion and low-power machinery. The shipping industry has diverted its focus on reducing consumption of fossil fuel by developing electric motors, thereby contributing to energy efficiency.

Make an inquiry for buying this report @ https://www.gminsights.com/inquiry-before-buying/791

Stringent emission regulations by International Convention for Prevention of Pollution (MARPOL) may hinder the marine propulsion engine market size over the forecast timeline. MARPOL regulations are principally applied for marine environment protection. Violations caused due to chemical spills, exhaust gases leading to air pollution, and contamination of oil and sewage waste may lead to severe penalties.

Significant investments by China and South Korea will drive Asia Pacific marine propulsion engine market share. The regional industry was valued at more than USD 4.5 billion in 2015 and will grow at 4.8% CAGR.

Marine propulsion engine market share is dominated by companies such as MAN Diesel, Rolls Royce, Mitsubishi, and Wärtsilä. The industry is characterized by long term contracts and frequent mergers &acquisitions to achieve competitive advantage.

Browse Full Reports: https://www.gminsights.com/industry-analysis/marine-propulsion-engine-market

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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