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Marine Diesel Engine Market Trends, Growth Demand, Industry Analysis, Forecast To 2023-2032
Marine Diesel Engine Market
The Business Research Company's Marine Diesel Engine Global Market Report 2023 identifies increased seaborne trade as the major driver for the Marine Diesel Engine market's growth in the forecast period. Seaborne trade refers to the transportation of goods abroad between two countries. Shipping is the most fuel-efficient means of transporting goods and marine diesel engines are used for seaborne trades as they are cheap, non-flammable, and energy efficient; hence the increased seaborne trade is a key driver of the marine diesel engine market.
The global marine diesel engine market size is expected to grow from $7.32 billion in 2022 to $7.83 billion in 2023 at a compound annual growth rate (CAGR) of 6.99%. 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 and affecting many markets across the globe. The global marine diesel engine market size is expected to reach $10.51 billion in 2027 at a CAGR of 7.65%.
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Major competitors in the Marine Diesel Engine market are Caterpillar, Cummins Inc., HHI Engine & Machinery, Deere & Company, MAN Energy Solutions, AB Volvo Penta, YANMAR Marine International.
A key trend in the Marine Diesel Engine market includes product innovation. Major companies operating in the marine diesel engine market are focusing on developing new products. For instance, in August 2020, Caterpillar, a US-based manufacturer of construction, transportation, and energy equipment, launched Cat C32B, a new marine diesel engine. The unique feature of this engine is the advanced unit injection fuel system, which delivers multiple injections per injection event and provides a 25% noise reduction at low speeds, and the most recent version of Cat's ADEM electronic engine control module (ADEM 6). The Cat C32B diesel engine develops 2,000 hp at 2,300 rpm, with an output power of 2,025 hp.
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The Marine Diesel Engine market is segmented -
• By Type: Auxiliary, Propulsion
• By Speed: Low-Speed, Medium-Speed, High-Speed
• By Stroke: 2-Stroke, 4-Stroke
• By Power: 20,000 HP
• By Application: Merchant, Offshore, Cruise And Ferry, Navy, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Marine Diesel Engine market.
The Business Research Company's "Global Marine Diesel Engine Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Marine Diesel Engine Market Include:
1. Executive Summary
2. Marine Diesel Engine Market Characteristics
3. Marine Diesel Engine Market Trends And Strategies
4. Marine Diesel Engine Market - Macro Economic Scenario
5. Marine Diesel Engine Market Size And Growth
…………………………………………………………………………………..
26. Africa Marine Diesel Engine Market
27. Marine Diesel Engine Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Marine Diesel Engine Market
29. Marine Diesel Engine Market Future Outlook and Potential Analysis
30. Appendix
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