Press release
Marine Diesel Engine Market | Global Trends, Growth and Key Companies Analysis - SOVFCOMFLOT, Sinokor Merchant Marine Co. Ltd., Shoei Kisen Co. Ltd., Scania, Rolls-Royce, Neptune Orient Lines, MSC Mediterranean Shipping Co. S.A., Mitsui O.S.K. Lines, MAN
The latest research report on Marine Diesel Engine market' by Market Study Report, LLC, presents a detailed analysis concerning market share, market valuations, revenue estimation, SWOT analysis, and regional spectrum of the business. The report further highlights key challenges and growth prospects of the market, while examining the business outlook comprising expansion strategies implemented by market leaders.Global marine diesel engine market is predicted to grow with a CAGR of 4% during the period of 2019-2025.Increasing import activities in developing nations and surging investments in shipping industry has boosted seaborne trade which in turn is driving the marine diesel engine industry growth. There has been an upsurge in the demand for advanced marine engines since they offer better efficiency, reduced fuel consumption, and low cost properties. This factor coupled with rising number of commercial vessels including bulk & gas carriers are fostering the demand for marine diesel engines across the globe.
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As per the regional analysis, the report cites that China marine diesel engine industry was worth USD 800 million in the year 2018 and is expected to register continuous growth in the forthcoming years. Increasing merchandise trade has led to rising demand for merchant ships in the country. This factor coupled with reduced charter rates and availability of raw material and cheap labor are augmenting the demand for marine diesel engines across China.
Increasing awareness pertaining to adverse effects of nitrogen and sulfur emissions along with rising adoption of sustainable units are further aiding the market expansion. Adding to this, rising RD&D activities along introduction of government regulations pertaining to depleting maritime pollution are stimulating the industry outlook.
In terms of technology, the report states that medium speed segment is expected to register substantial growth during the estimated timeframe. Growing maritime tourism and rising demand for cruises, ferries, and yachts are contributing towards the popularity of medium speed marine diesel engines across the globe.
Zodiac Martime, Yanmar Holdings Co. Ltd., Weichai Power Co. Ltd., Wärtsilä, Volvo Penta, Teeky Corp., STX Engine, SOVFCOMFLOT, Sinokor Merchant Marine Co. Ltd., Shoei Kisen Co. Ltd., Scania, Rolls-Royce, Neptune Orient Lines, MSC Mediterranean Shipping Co. S.A., Mitsui O.S.K. Lines, MAN Energy Solutions, Kawasaki Heavy Industries, John Deere, IHI Corporation Ltd., Hyundai Heavy Industries, Guangxi Yuchai Group, Evergreen Marine Corp., Euronav, DEUTZ AG, Daihatsu Diesel Mfg. Co. Ltd., Cummins Inc., COSCO Group, Caterpillar, BW Group, Brunswick Corp., BAHRI, Anglo Belgian Corp, and A.P. Moller - Maersk are the prominent companies operating in the marine diesel engine market.
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Question and Answers: Marine Diesel Engine Market
Question 1: Why is marine diesel engine market witnessing continuous growth?
Answer: According to the report, increasing import activities in developing nations and surging investments in shipping industry has boosted seaborne trade which in turn is driving the marine diesel engine industry growth. Marine diesel engine offers benefits such as enhanced fuel utilization and affordability. This factor coupled with rising number of commercial vessels including bulk & gas carriers are fostering the demand for marine diesel engines across the globe.
Increasing awareness pertaining to adverse effects of nitrogen and sulfur emissions along with rising adoption of sustainable units are further aiding the market expansion. Adding to this, rising RD&D activities along introduction of government regulations pertaining to depleting maritime pollution are stimulating the industry outlook.
Question 2: What type of technology will contribute towards the growth of marine diesel engine market?
Answer: The report states that medium speed segment is expected to register substantial growth during the estimated timeframe. Growing maritime tourism and rising demand for cruises, ferries and yachts are contributing towards popularity of medium speed marine diesel engines across the globe. Rising long distance trade along with growing demand for retrofitting of existing vessels facilitating the business scenario.
Question 3: How will China develop to be a lucrative growth ground for marine diesel engine market?
Answer: the report cites that China marine diesel engine industry was worth USD 800 million in the year 2018 and is expected to register continuous growth in the forthcoming years. Increasing merchandise trade has led to rising demand for merchant ships in the country. This factor coupled with reduced charter rates and availability of raw material and cheap labor are augmenting the demand for marine diesel engines across China.
Question 4: How is the competitive landscape of the marine diesel engine market defined?
Answer: Zodiac Martime, Yanmar Holdings Co. Ltd., Weichai Power Co. Ltd., Wärtsilä, Volvo Penta, Teeky Corp., STX Engine, SOVFCOMFLOT, Sinokor Merchant Marine Co. Ltd., Shoei Kisen Co. Ltd., Scania, Rolls-Royce, Neptune Orient Lines, MSC Mediterranean Shipping Co. S.A., Mitsui O.S.K. Lines, MAN Energy Solutions, Kawasaki Heavy Industries, John Deere, IHI Corporation Ltd., Hyundai Heavy Industries, Guangxi Yuchai Group, Evergreen Marine Corp., Euronav, DEUTZ AG, Daihatsu Diesel Mfg. Co. Ltd., Cummins Inc., COSCO Group, Caterpillar, BW Group, Brunswick Corp., BAHRI, Anglo Belgian Corp, and A.P. Moller - Maersk are the prominent companies operating in the marine diesel engine market.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Marine Diesel Engine Industry Insights
Chapter 4. Marine Diesel Engine Market, By Technology
Chapter 5. Marine Diesel Engine Market, By Application
Chapter 6. Marine Diesel Engine Market, By Region
Chapter 7. Company Profile
More Details on this Report At: https://www.marketstudyreport.com/reports/marine-diesel-engines-market-size-by-technology-low-speed-medium-speed-high-speed-by-application-merchant-container-vessels-tankers-bulk-carriers-gas-carriers-roll-on-roll-off-offshore-drilling-rigs-and-ships-anchor-handling-vessels-offshore-research-vessels-floating-production-units-platform-supply-vessels-cruise-and-ferry-cruise-vessels-passenger-ferries-cargo-ferries-fast-ferries-yachts-navy-industry-analysis-report-regional-outlook-u-s-canada-germany-italy-norway-uk-france-russia-denmark-chi
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