Marine Fuel Injection System Market share is expected to reach US$ 6.89 Billion by year 2029 | FMI

The global marine fuel injection system market share stands at US$ 5.37 Billion as of now and is expected to reach US$ 6.89 Billion by the year 2029 at a CAGR of 3.6% between 2022 and 2029.

Marine fuel injection system is indispensable, as far as the shipping industry is concerned. It's primary functionality is that of providing an appropriate quantity of fuel to engine's cylinder at the stipulated time, that too, in proper amount. It's inevitable to ascertain the highest combustion efficiency in cylinder.

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The other factors accelerating the marine fuel injection system market include growing trade activities amongst countries, increase in exploration activities, and growing shipbuilding vertical.

Amongst offshore support vessels, commercial vessels, and inland waterways, commercial vessels hold the largest market share due to the private companies pitching in.

Aftermarket sector is expected to hold more than 60% of the market share. This could be reasoned with the common fact that after-usage services would be giving the customers a better view regarding marine fuel injection system market.

At the same time, it needs to be noted that marine fuel injection systems need massive investments. Ship and boat building are pricy. Herein, returns get delayed as shipbuilding process, on the whole, does consume so much of time. Also, the vertical is subject to recurring expenses due to the turnkey projects involved herein. Future Market Insights has etched through these findings and future perspectives in its latest market study entitled 'Marine Fuel Injection System Market'. The line of expertise in the form of analysts and consultants is there with its bottom-up approach.

Key Takeaways from Marine Fuel Injection System Market

North America holds the largest market share due to increase in frequency of seaborne trade at the international level along with strict regulations regarding marine emissions all across North America. Also, the number of commercial vessels are growing in the US.
Coming to Europe, the defense forces are being strengthened, which has actually increased deployment of naval ships in every country herein.
LATAM is subject to ever-increasing exploration activities.
The Asia-Pacific is expected to grow at the fastest rate in the marine fuel injection system market. This could be credited to the fact that China is subject to marine infrastructure's modernization.

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Competitive System

Winterthur, in January 2019, improved upon its investment regarding development of the flexible injection system.
Rolls-Royce, in April 2018, inked an agreement with Woodward Inc. for acquiring L-Orange (fuel injection specialist).
Volvo Penta, in June 2019, came up with next-gen D6 & D4 propulsion packages that have more than 100,000 units manufactured. The basic benefits include reliability, ore power, and curtailment of operating costs to 33%. The boat owners prefer these packages.
HyDIME (Hydrogen Diesel Injection in a Marine Environment) project, in October 2018, which does involve using hydrogen on direct basis into fuel supply, started getting funded by none other than Innovate UK. This project emphasizes on usage of hydrogen with powering the ferries through diesel. The project is being executed in the consortium that is supervised by Ferguson Marine Engineering, EMEC, High-Speed Sustainable Manufacturing Institute, and Orkney Islands Councils.
Liebherr International AG, in November 2018, did introduce its new-fangled hydraulic injection components for the market of China.
"Fuel injectors get exposed to high tear and wear, they could be replaced at periodic intervals for maintaining injection pressure needed in marine engines", says an analyst from Future Market Insights.

Key Companies Profiled

Cummins Inc.
Woodward, Inc.
Robert Bosch GmbH
Caterpillar Inc.
Delphi Automotive Plc
Yanmar Co. Ltd
Suzuki Motor Corporation
MAN SE
Liebherr International AG
DENSO Corporation
Rolls-Royce Power Systems AG
OMT - Officine Meccaniche Torino SpA
Heinzmann GmbH & Co. KG
Marren Fuel Injection
Walbro LLC
DUAP AG
Chongqing Hongjiang Machinery Company Limited
Synerject LLC
Firad S.p.A.
ChinahanJi Power Co., Ltd

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What does the Report inject?

The research study is based on sales channel (OEM and aftermarket (fuel injector, fuel valve, fuel pump, nozzles, and electronic control unit), by engine capacity (up to 2000 HP, 2000 - 10000 HP, 10000 - 20000 HP, 20000 - 50000 HP, 50000 - 80000 HP, and above 80000 HP), by application (service vessels, passenger vessels (cruise ships and ferries), cargo carriers (tankers, container ships, bulk carriers, and other cargo ships), fishing vessels, personal watercraft & sailboats, and likewise), and by engine type (2 stroke and 4 stroke).
With increase in seaborne trade all across, demand for marine fuel injection components like valves and pumps is on the rise and the status quo is expected to remain the same even going forward.
Marine Fuel Injection System Market by Category

By Sales Channel:

OEM
Aftermarket
Fuel Injector
Fuel Valve
Fuel Pump
Nozzles
Electronic Control Unit
By Engine Capacity:

Up to 2000 HP
2000 - 10000 HP
10000 - 20000 HP
20000 - 50000 HP
50000 - 80000 HP
Above 80000 HP

By Application:

Service Vessels
Passenger Vessels
Cruise Ships
Ferries
Cargo Carriers
Tankers
Container Ships
Bulk Carriers
Other Cargo Ships
Fishing Vessels
Personal Watercraft & Sailboats
Others

By Engine Type:

2 Stroke
4 Stroke

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.