Marine Drive System Market Size to Grow Steadily during Forecast period 2017 - 2025

Modernization and technology-innovation have led to a lot of new trends in the Marine Drive System Market. These new trends are attracting consumers to use technologically advanced marine drive system, as opposed to the paddles and sails that were used earlier. Earlier, mechanical engines were used in marine propulsions. These have mostly been replaced by four-stroke and two-stroke diesel engines, gas turbine engines and outboard motors in faster ships. Nuclear reactors are increasingly being used to power marine vehicles.

Market Overview:

The basic mechanism behind a marine drive system is that the power is created by the engine, and that power is transferred into thrust by the drive system. Most of the marine power systems and Marine Drive System come as integrated modules. Marine Drive System generate thrust that moves a ship or boat forward. Small boats still use sails and paddles, but bigger boats and ships use electric engines and motors. Marine drive system manufacturers use a variety of components in the production of marine drive system. These components include stirling engines, steam engines, LNG engines, steam turbines, gas turbines and nuclear-powered steam turbines.

Market Dynamics:

With modernization in the Marine Drive System Market, wind and solar energy are increasingly being used to meet the auxiliary power requirements of the ships. Such Marine Drive System increase the efficiency of the ships. This new trend in the Marine Drive System Market is likely to drive the growth of the market as well. Marine Pollution Convention (MARPOL) has made regulations regarding carbon-di-oxide emissions and environment. Increased awareness about environmental laws and the advancement in technology has forced the Marine Drive System vendors to produce systems according to these laws. This factor has increased the popularity of Marine Drive System. Floating, Production, Storage, and Offloading (FPSO) vessels have shown significant growth trends. This growth is likely to drive the growth of the Marine Drive System Market. There is a great potential for growth in the Marine Drive System Market in the Asia Pacific and the Middle East and Africa regions.

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Volvo Penta Inboard Performance system is the newest innovation in the Marine Drive System market. The Volvo Penta Inboard Performance system is a type of drive system installed beneath the engines in the Marine Drive System. Marine Drive System with the Volvo Penta Inboard Performance system have forward-facing propellers that pull the water below the boat. Marine Drive System with Volvo Penta Inboard Performance system the increase the efficiency of the boat as well as increase the speed of the boat by up to 20 percent.

One of the other trends that have gained popularity in the Marine Drive System Market is the use of turbochargers in the marine engines. These types of Marine Drive System provide benefits such as easy replacement of parts and also reduce operational costs.

Market Segmentation:

Marine Drive System Market is segmented on the basis of the engine type, type of drive system, end user type, and region.

On the basis of the engine type, Marine Drive System Market is segmented into Inboard engines and Outboard engines.

On the basis of the type of drive system, Marine Drive System market is segmented into Jet Drives, Surface Piercing Drives, V drives, Pod Drives, Stern Drives and Straight Shafts

On the basis of the end user type, Marine Drive System market is segmented into Leisure ships, Commercial ships, Defense vessels, Tugboats & OSV’s, Ferries and defense vessels.

On the basis of the region type, Marine Drive System market is segmented into North America, Latin America, Europe, Asia-Pacific except Japan (APEJ), Middle-East and Africa (MEA) and Japan.

Most of the manufacturers of the Marine Drive System are present in the Europe region. This can be a driving factor for the Marine Drive System Market in the forecast period 2017 to 2025. The North America region is likely to witness growth in the Marine Drive System Market. This is due to the fact that this region has many maritime monitoring satellites that monitor oil spillage and carbon emissions from marine vehicles. Asia-Pacific region is also expected to show significant growth trends in the Marine Drive System Market. China is leading in the consumption and production of Marine Drive System.

Key Players:

The Marine Drive System Market is dominated by many key players. The players in the Marine Drive System Market compete in terms of product services, functionalities, features and quality of the Marine Drive System that they produce. Moreover, with the progress of technology, the manufacturers of Marine Drive System are offering products with new features and services. Governments of many countries have introduced strict regulations regarding the emissions of the vehicles. This is the reason why Marine Drive System manufacturers are developing and designing engines that run on alternative fuels such as algal oils and bio-methane.

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Companies such as Mercruiser and ZF produce Pod Drives, which are a type of Marine Drive System. Pod Drives such as ZF Marine 4000 and Mercruiser Cummins Zeus have created a lot of buzz in the Marine Drive System Market in the recent years. This is not without any reason the pod drives offer a lot of advantages.

Some of the prominent players in the Marine Drive System Market include Cummins, Wärtsilä, Hyundai Heavy Industries, Rolls-Royce, MAN Diesel and Turbo, Mitsubishi Heavy Industries, Siemens, Hydraulic Marine Systems, Volvo Penta, Masson Marine, Yamaha, Hydrosta, and Mercury Marine.

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This release was published on openPR.