Impact of Existing and Emerging Marine Propulsion Engine Market Trends 2017-2027
Focus on renewable energy fuelling the marine propulsion engine market
A growing need for dependent and fuel-efficient ships is anticipated to be the main driver of the marine propulsion engine market. There has been rapid innovation in the industry that has led to the development of new high-performance engines that are more fuel-efficient than their predecessors. Leading companies in the marine propulsion engine market are continuously innovating and extending their product offerings to handle the growing demand for greater capacity handling. This is mainly due to a rise in international seaborne trade caused by a globalised world with heavy interdependence and interconnectivity.
The second major factor that is likely to impact the marine propulsion engine market is the focus on renewable energy sources. Global warming and an impending energy crisis are some of the biggest challenges faced by the world in the 21st century. Commercial and transport ships notorious for causing a lot of pollution and accidental oil spills not only damage the regional natural ecosystem but also negatively impact the company’s goodwill and market image. That is why energy sources such as solar energy, wind energy, electric energy and hydroelectric energy are becoming more important than ever before. The development of electric motors that can power ships and reduce fossil fuel consumption will definitely have a positive impact on the marine propulsion engine market. The depletion of shale gas and conventional reserves will increase the demand for LNG, particularly as a marine fuel.
Request For Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-2804
Regulatory hurdles – the biggest challenge to the marine propulsion engine market
Uncontrollable CO2 emissions from conventional engine systems have led to the implementation of stringent environmental regulations and various taxes such as carbon tax to help reduce the impact of climate change. The marine pollution convention (MARPOL) regulations help prevent sewage, oil and chemical spill contamination along with air pollution caused by marine propulsion engine exhaust fumes. Non-adherence to these governmental rules and regulations may lead to severe penalties running into billions of dollars. This can stifle the growth of the marine propulsion engine market particularly as smaller domestic companies may not be able to comply.
Asia Pacific is the key marine propulsion engine market to watch
Asia Pacific accounts for a major portion of the marine propulsion engine market and is anticipated to maintain its dominance throughout the forecast period. This is primarily because of key nations China, Japan and South Korea that have become manufacturing powerhouses heavily dependent on external trade. China is already the world’s largest exporter and would naturally require a greater number of commercial ships, thus having a positive impact on the demand for marine propulsion engines. In addition to trade, countries across the world have begun beefing up their navies to combat ocean piracy. Asian navies, in particular, are rapidly building their defence capabilities and this should increase the size of the marine propulsion engine market across the Asia Pacific region.
Request For TOC@ http://www.futuremarketinsights.com/toc/rep-gb-2804
Marine propulsion engine market: key players
Some of the key players in the marine propulsion engine market are Caterpillar, Hyundai Heavy Industries Co. Ltd., General Electric Company, and Masson Marine.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
This release was published on openPR.
Permanent link to this press release:
You can edit or delete your press release Impact of Existing and Emerging Marine Propulsion Engine Market Trends 2017-2027 here
News-ID: 546710 • Views: 538
More Releases from Future Market Insights
How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring
More Releases for Marine
Agar Agar Manufacaturer - Marine Hydrocolloids
Agar Agar Food Grade (China Grass) Agar Agar is used as 100% vegetarian substitute for Gelatin (manufactured from animal bones and skin) in the food industry. The usage is fast gaining ground due to the worldwide shift for products of vegetable origin. Agar Agar has been used for many centuries as high performance gelling agent. Its ability to produce clear colourless, odourless, and natural gels without the support of other colloids has
Marine Navigation Systems Market Growth
In this report, we studies the present scenario (with the base year being 2017) and the growth prospects of global Marine Navigation Systems market for 2018-2023. Key Questions Answered in this report: What will the Marine Navigation Systems Market the growth rate be in 2023? What are the key factors driving the Global Marine Navigation Systems Market with a focus on the Global market? What are the key market trends in Marine Navigation Systems
Marine Diesel Engines Market
MaketStudyReport.com adds a New Marine Diesel Engines Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 5% CAGR to 2024. Marine Diesel Engines Market size is set to exceed USD 7 billion by 2024, according to a new research report. Growing demand for economic viable engines coupled with rise in seaborne trade will drive marine diesel engines market. According to United
Global Marine Grease Market 2017 - Chevron, Castrol, Lubmarine, BP Marine
Apex Market Reports, recently published a detailed market research study focused on the "Marine Grease Market" across the global, regional and country level. The report provides 360° analysis of "Marine Grease Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Marine Grease industry, and estimates the future trend of Marine Grease market
Marine Antifouling System Market 2017 - CMS Marine, ENWA Sandnes, Globus Benelux …
Apex Research, recently published a detailed market research study focused on the "Marine Antifouling System Market" across the global, regional and country level. The report provides 360° analysis of "Marine Antifouling System Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Marine Antifouling System industry, and estimates the future trend of Marine