Global Marine Engines Market Size with Growth Opportunities, Top Countries Data, Future Trends and Share with Revenue Forecast 2023-2032 | Cummins Inc., Caterpillar, Mitsubishi Heavy Industries Ltd., Volvo Penta, Yanmar Holdings Co Ltd

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per the Marine Engines market report by The Business Research Company, Growth in international marine freight transport is expected to drive the marine engine market. Marine freight transport refers to ships or cargo used to move goods from one location to another. Marine transport is cheaper and more feasible than railroad and air transportation for international transport. According to an article published by World Economic Forum, in 2021, approximately 90% of the world's products were transported by water transport.

The global marine engines market size grew from $9.48 billion in 2022 to $10.13 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The marine engines market size is expected to grow to $12.17 billion in 2027 at a CAGR of 4.7%.

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Major competitors in the Marine Engines Market Include Cummins Inc., Caterpillar, Mitsubishi Heavy Industries Ltd., Volvo Penta, Yanmar Holdings Co Ltd., Wärtsilä , Hyundai Heavy Industries Co Ltd., Daihatsu Diesel Mfg Co Ltd., MAN Energy Solutions, Volkswagen Group, WinGD, Siemens Energy, Wabtec, Isotta Fraschini Motori, CNPC Jichai Power Company Limited , Bergen Engines, Rolls-Royce Holdings, and Bergen Engines.

The Marine Engines Market Is Segmented -

• By Engine Type: Diesel Engine, Gas Turbine, Natural Engine, Other Engine Types
• By Ship Type: Oil Tankers, Bulk Carriers, General Cargo Ships, Container Ship
• By Fuel Type: Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil, LNG, Other Fuel Types
• By Stroke: Four Stroke, Two Stroke
• By Power Range: Up to 1,000 HP, 1,001-5,000 HP, 5,001-10,000 HP, 10,001-20,000 HP, Above 20,000 HP. Asia-Pacific was the largest region in the marine engines market in 2022.

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Marine engines refer to a heat engine used to transform heat energy into mechanical energy by burning fuel to propel a ship. It is installed or planned to be installed on a marine vessel. Marine engines are categorized as propulsion marine engine, which propels or guides the movement of a ship through the sea, and auxiliary marine engine refers to a propulsion-less marine engine.

The Table Of Content For The Marine Engines Market Include:

1. Executive Summary
2. Marine Engines Market Characteristics
3. Marine Engines Market Trends And Strategies
4. Marine Engines Market - Macro Economic Scenario
5. Marine Engines Market Size And Growth
……
26. Africa Marine Engines Market
27. Marine Engines Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Marine Engines Market
29. Marine Engines Market Future Outlook and Potential Analysis
30. Appendix

The "Global Marine Engines Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.

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