Marine Engines Industry Growth
Marine Engines Market Trends Global Industry Analysis, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast to 2024
Market Study Report adds Global Marine Engines market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.
Marine Engines market is predicted to exceed USD 13 billion by 2024. Positive outlook toward marine industry along with rising seaborne trade will drive the business growth. In line with developments in the world economy, demand for shipping services witnessed robust growth. According to UNCTAD, in 2016, the global maritime trade volumes increased by 2.6% with container trade accounting for more than 23% of the global marine trade.
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MGO marine engines market is set to witness growth owing to the paradigm shift by shipowners toward adoption of eco-friendly fuel coupled with introduction of regulations and norms by IMO under the MARPOL. Generation of the lowest fuel concentration of SOx and NOx is one of the distinct feature propelling the product demand.
The U.S. marine engines market is anticipated to exceed USD 1 billion by 2024. Ongoing research activities to develop systems in compliance to the environmental norms will augment the industry landscape. In addition, ongoing retrofitting activities across shipping yards toward the deployment of low emission systems will further complement the product demand.
Large-scale adoption of vessels including tankers, bulk carriers and cargo will fuel the low-speed marine engines market growth. Global rise across seagoing vessel trade coupled with cost efficient fuel utilization will encourage the product demand. Furthermore, increasing adoption of these products across merchant and container vessels will stimulate the business growth.
Recreational marine engines market is projected to grow owing to rising disposable income coupled with improving standard of living. Increasing demand for comfort and luxury, resulting in growing investments toward cruise vessels will subsequently boost the industry landscape. Positive outlook toward tourism industry as a result of resurgent economic growth post-recession will further enhance the business landscape.
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Positive outlook towards shipbuilding industry along with technological innovations to develop clean fuel engines is set to stimulate Germany marine engines market growth. Shifting focus toward cruise ships, wind farm service, mega yachts, military and ro-pax will boost the product penetration.
Two-stroke marine engines market is projected to witness strong growth on account of technological advancements for the improvement in operational efficiency to comply with the environmental norms. These systems have thermal efficiency as high as over 50% and offers higher power even at low rotational speed.
Notable industry players include Brunswick, Anglo Belgian, Caterpillar, Daihatsu Diesel, Cummins, Deutz, Shanghai Diesel, John Deere, MAN D&T, Rolls Royce, STX, Scania, Volvo Penta, IHI Corporation, Yanmar, Yamaha, Yuchai and Weichai.
Table of Contents
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Marine Engines Industry Insights
Chapter 4. Marine Engines Market, By Fuel
Chapter 5. Marine Engines Market, By Power
Chapter 6. Marine Engines Market, By Technology
Chapter 7. Marine Engines Market, By Propulsion
Chapter 8. Marine Engines Market, By Application
Chapter 9. Marine Engines Market, By Region
Chapter 10. Company Profiles
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Gas Turbine Marine Engines market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
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