Press release
Marine Engine Monitoring System Market Trend Expected to Guide During 2018 – 2028
The marine engine monitoring system is used to increase operational safety and to avoid loss of propulsion in the marine environment. The maintenance should be cautiously planned and it should match the sailing program. The advancements in data acquisition and remote monitoring solutions has positively enhanced the deployment of marine engine monitoring system.
Sensors play a vital role in the installation of marine engine monitoring system and the growth in wireless sensors associated with growth in communication solutions has enhanced the operational efficiency. Installation of marine engine monitoring system with automation solutions for predictive maintenance are supporting the case for fault detection at the early stages, thereby supporting the operational effectiveness.
The growth of technology in marine electronics and communication solutions has given the opportunity for the ship builders and owners to install marine engine monitoring system. In addition to that, the integration of technology that covers hydro-acoustics, navigation, control, automation and simulation solutions have successfully driven the global marine engine monitoring system market.
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Marine Engine Monitoring System Market: Market Dynamics
There has been a frequent growth in the installation of new gas engine orders in the Asia Pacific region which is expected to drive the market growth for marine engine monitoring system. The increasing number of commercial vessels and growth in ship building contracts has propelled the shipping industry and the global marine engine monitoring system market. In addition to that, the rise in sea borne trade between developing nations has created an opportunity for the deployment of marine engine monitoring system.
Rise in marine environment safety regulations has favored the hardware and software providers for the deployment of marine engine monitoring system. Customization of marine engine monitoring system for the safety of operations and cost reduction has driven the marine engine monitoring system market. The competiveness in the global marine engine monitoring system market is growing due to the entry of Asian players. The key challenge lies in the reading calculated at the port and at the sea which is volatile and it is important to choose the suitable marine engine monitoring system.
The remote or online marine engine monitoring system with propulsion remote control is driving the global market. The growth in cloud based monitoring and analysis with access to the internet and connect to the vessels LAN network has enhanced the adoption rate of marine engine monitoring system. Ensuring minimum network traffic will drive the global marine engine monitoring system market.
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Marine Engine Monitoring System Market: Market segmentation
The global marine engine monitoring system market can be segmented into type, and application.
On the basis of engine propulsion type, the global marine engine monitoring system market is segmented into:
Diesel Propulsion
Wind Propulsion
Gas Turbine Propulsion
Diesel Electric Propulsion
Gas Fuel Propulsion
Others
On the basis of deployment type, the global marine engine monitoring system market is segmented into:
On-site monitoring
Remote monitoring
On the basis of end use, the global marine engine monitoring system market is segmented into:
Passenger Vessels
Tankers
Cruise Ships
Naval Vessels
Oil & Gas Vessels
Marine Engine Monitoring System Market: Regional Outlook
The regions such as Europe and North America are leading the global marine engine monitoring system and it is expected to remain the same in the forthcoming period. The Asia Pacific region is however expected to show a higher growth trend in the same forecast timeline when compared to the other regions in the global marine engine monitoring system market. The growth in Asia pacific region will be majorly driven by the countries such as China, Taiwan, Indonesia and Malaysia.
Marine Engine Monitoring System Market: Key Market Participants
Some of the key market participants in the global marine engine monitoring system market are:
ABB
Caterpillar
Cummins
Emerson Electric
Hyundai Heavy Industries
Jason Marine
Kongsberg
KROHNE Marine
Mitsubishi Heavy Industries
NORIS Group
Scania
TecnoVeritas
Valmet
Wartsila
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