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Marine Engines Market Development Opportunities Accelerate in 2025 | Hyundai Heavy Industries, Caterpillar, MAN SE, Mitsubishi Heavy Industries, Volvo Penta

02-01-2021 12:12 PM CET | Industry, Real Estate & Construction

Press release from: MarketsandMarkets

Marine Engines Market Development Opportunities Accelerate

According to the new market research report "Marine Engines Market by Power (20) 000 hp, Vessel (Commercial, Offshore), Fuel (Heavy, Intermediate, Marine Diesel and Gas Oil), Engine (Propulsion & Auxiliary), Type, and Region - Global Forecast to 2025", is projected to grow from USD 11.8 billion in 2020 to USD 13.7 billion by 2025; it is expected to grow at a CAGR of 3.1% from 2020 to 2025.

https://www.marketsandmarkets.com/Market-Reports/marine-engine-market-261640121.html

The key factors driving the growth of the marine engine market include growth in international marine freight transport, growth in maritime tourism, and increasing adoption of smart engines for situational awareness and safety.

Browse 188 market data Tables and 51 Figures spread through 224 Pages and in-depth TOC on "Marine Engines Market - Global Forecast to 2025"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=261640121

The heavy fuel oil segment is expected to dominate the marine engines market, by fuel, during the forecast period.

The heavy fuel oil segment is expected to lead the marine engines market from 2020 to 2025. Heavy fuel oil is the commonly used fuel for marine engines across the globe. Inspite of the stringent emission controls and revisions in IMO standards, the demand for heavy fuel oil marine engines is expected to be the largest among all segments.

The propulsion engine segment is expected to be the fastest-growing marine engines market, by engine, during the forecast period.

The propulsion engine segment, by engine, in marine engines market is estimated to grow at the fastest rate during the forecast period. Propulsion engines are the main engines of ships, providing thrust and power to move and sail the oceans. Marine propulsion engines are a very important asset of ships as they are the prime mover of the ship. Thus, the demand for propulsion engines across various engine types is expected to increase with the increased demand for marine engines.

Ask for Sample Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=261640121

Asia Pacific likely to emerge as the largest marine engines market

In this report, the marine engines market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific is estimated to be the largest market for marine engines during the forecast period. Asia Pacific is global leader in shipbuilding industry both in terms of exports and imports. It is considered to be a lucrative region for maritime trade. Countries such as China, Japan, and South Korea are considered as the main manufacturing hubs for marine engines. Over the past few years, this region has witnessed rapid economic development as well as the growth of the manufacturing and energy sectors, thereby resulting in an increase in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide.

This research report categorizes the marine engines market based on
Based on Power Range:

Up to 1000 hp
1001 – 5000 hp
5001 – 10000 hp
10001 – 20000 hp
Above 20000 hp

Based on engine:

Propulsion Engine
Auxillary Engine

Based on Vessel:

Commercial Vessel
Offshore Support Vessel
Others

Based on the type:

Two-stroke
Four-stroke

Based on the Fuel:

Heavy Fuel oil
Intermediate Fuel Oil
Marine Diesel Oil
Marine Gas Oil
Other

Based on the Region:

North America
Europe
Asia Pacific
Middle East & Africa
South America

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=261640121

To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the marine engines market. Some of the key players are Hyundai Heavy Industries (South Korea), Caterpillar (US), MAN SE (Germany), Mitsubishi Heavy Industries (Japan), and Volvo Penta (Sweden). The leading players are adopting various strategies to increase their share in the marine engines market.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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