Press release
Comprehensive Look and Growth of the Marine Engine Market With Its Evolution By 2030
Marine Engine Market
Presently, the global marine engine industry is dominated by Asia-Pacific followed by Europe, North America, and LAMEA. Asia-Pacific is expected to maintain significant growth in the global market particularly by China, South Korea, and Japan, owing to few distinct advantages such as increase in shipbuilding and marine component production in the region, owing to cheaper wages, strong government backing, and strong forward & backward linkage industries.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.alliedmarketresearch.com/request-sample/1579
Key factors driving development of the global marine engine market include rapid GDP growth, strong economic growth, increase in global seaborne trade, surge in demand for marine freight transportation vessels, high demand of two stroke marine engines, and rise in water sports & leisure activities. However, rise in adoption of fully electric vessels and fluctuations in transportation and inventory costs are some noteworthy trends that hamper growth of the market.
Sales of marine engine is directly associated with shipbuilding and marine vessels sales activities across the globe. COVID-19 crisis is causing uncertainty in the marine engine market by delaying supply chains, hampering business growth and generating uncertain demand scenarios.
By fuel type, the marine engine market is segregated into heavy fuel oil, intermediate fuel oil and others. The heavy fuel oil accounted for the highest revenue in 2020, as heavy fuel oil is widely adopted across various marine vessels, owing to their cost-effectiveness.
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/1579
COVID-19 Impact Analysis
The COVID-19 impact on the marine engine market is unpredictable, and is expected to remain in force for a few years.
The COVID-19 outbreak forced governments across the globe to implemented stringent lockdown and ban import-export of essential raw materials items for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for marine engines.
As a result of interrupted supply chains and production schedules caused by the COVID-19 pandemic, boat and engine manufacturers faced enormous losses in the first and second quarters of 2020.
Moreover, nationwide lockdown forced parts manufacturing facilities to partially or completely shut their operations
However, the world is gradually returning to normalcy in daily business activities by taking appropriate measures to halt virus spread. Increase in vaccination and decreasing fatality has improved the market scenario for ship refurbishment and shipbuilding, which is expected to boost demand for the global marine engine market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง - https://www.alliedmarketresearch.com/request-for-customization/1579
Key Findings Of The Study
By ship type, the ferries and passenger ships segment is expected to register a significant growth during the forecast period.
By capacity, the 500 To 1000 Hp segment is projected to lead the global marine engine market.
By fuel type, the others segment is projected to lead the global marine engine market
Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The key players operating in the global marine engine market include Caterpillar Inc., Cummins Inc., Hyundai Heavy Industries Co., Ltd, MAN Energy Solutions, Mercury Marine, Mitsubishi Heavy Industries Ltd, Rolls Royce plc, Volvo Penta, Wartsila, and Yanmar Holdings Co., Ltd.
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Comprehensive Look and Growth of the Marine Engine Market With Its Evolution By 2030 here
News-ID: 3166203 • Views: โฆ
More Releases from Allied Market Research
Mobile Application Security Market Growing at 26.3% CAGR Reach USD 37.1 Billion โฆ
Allied Market Research published a new report, titled, "Mobile Application Security Market Growing at 26.3% CAGR Reach USD 37.1 Billion by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determineโฆ
MarTech Market Witnessing CAGR of 18.5% Hit USD 1.7 Trillion by 2032
The global marketing technology market is experiencing growth due to several factors, including the increasing digital transformation, the surge in demand for personalized experience, and the proliferation of automation and efficiency. However, data privacy and compliance, and the high cost of implementation are expected to hamper market growth. Furthermore, the growing integration of AI and ML technologies and the increase in demand for real-time marketing are anticipated to provide lucrativeโฆ
Feedback Management Software Market Growing with CAGR of 12.9% Reach USD 28.7 Bi โฆ
Allied Market Research published a new report, titled, "Feedback Management Software Market Growing with CAGR of 12.9% Reach USD 28.7 Billion by 2031 ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry andโฆ
Digital Educational Publishing Market Growing at 15.9% CAGR Reach USD 41.5 Billi โฆ
The Market report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
The global Digital Educational Publishing Market was valued at $9.9 billion in 2021, and is projected to reach $41.5 billion by 2031, growing atโฆ
More Releases for Marine
Marine Fender Market Hits New High | Major Giants Bridgestone Corporation, Fende โฆ
HTF MI recently introduced Global Marine Fender Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2025-2032). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence.
Major companies in Marine Fender Market are:
Acir Marine (United States), Bridgestone Corporation (Japan), Fendercare Marine (United Kingdom), Maha Tech Asia Pte Ltdโฆ
Marine Lighting Market Forecasted for Strong Growth from 2025 to 2032 | Phoenix โฆ
The marine lighting market is estimated to be valued at USD 449.8 Mn in 2025 and is expected to reach USD 654.3 Mn by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2032.
A new report from CoherentMI, titled "Marine Lighting Market 2025-2032," offers an in-depth examination of the industry, including valuable insights into the Marine Lighting Market's performance. The report covers competitor dynamics, regionalโฆ
Marine Switchboards Market | ABB, Atlas Marine Systems, Clean Marine Switchboard โฆ
The global marine switchboards market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the marine switchboards market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of theโฆ
Marine Asset Management Services Market Boosts Massive Revenue by 2030| Oceanic โฆ
The latest study released on the Global Marine Asset Management Services Market by GMV Research evaluates market size, trend, and forecast to 2030. The Marine Asset Management Services market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities, and upcoming challenges and aboutโฆ
Marine Doors market: Players tapping Emerging Markets | MML Marine, Baier, Freem โฆ
"The global Marine Doors Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Marine Doors Market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and opportunities of the globalโฆ
Ocean Engineering Equipment Market Business Opportunities 2026 - Top Companies a โฆ
The Ocean Engineering Equipment Market research added by UpMarketResearch.com, offers a comprehensive analysis of growth trends prevailing in the global business domain. This report also provides definitive data concerning market, size, commercialization aspects and revenue forecast of the industry. In addition, the study explicitly highlights the competitive status of key players within the projection timeline while focusing on their portfolio and regional expansion endeavors.
Request Exclusive Free Sample PDF of Thisโฆ
