The Marine and Maritime Engine refers to the petrol, diesel engines or dual-fuel engines that have been used in the marine environment.Marine and maritime engine are responsible for propulsion of the vessel from one port to another. Whether it’s of a small ship plying in the coastal areas or of a massive one voyaging international waters, a marine engine of either 4-stroke or 2-stroke is fitted onboard ship for the propulsion purpose.
Industry Insights
Due to the COVID-19 pandemic, the global Marine and Maritime Engines market size is estimated to be worth US$ 21 billion in 2022 and is forecast to a readjusted size of US$ 26 billion by 2028 with a CAGR of 4% during the review period. While Bulk Carriers segment is altered to an 6% CAGR throughout this forecast period.
The major manufacturers that provide marine engines in the Asia-Pacific region include Hyundai Heavy Industries and China State Shipbuilding Corporation. The first two manufacturers account for about 50% of the market. Among them, the power of 10,000 to 20,000 kilowatts and 20,000 to 30,000 kilowatts accounted for 25% and 20%, respectively. The most widely used are bulk carriers and oil tankers, accounting for 44% and 28% respectively.
Key Drivers & Barriers
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Post-covid-19 Outlook
The readers in the section will understand how the Marine and Maritime Engines market scenario changed across the globe during the pandemic and post-pandemic. The study is done keeping in view the changes in aspects such as production, demand, consumption, supply chain. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.
Segmental Outlook
Key segments including type and application have been elaborated in this report. The consultants at OMR Market Research have studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows production and revenue data by type and application during the historical period (2017-2022) and forecast period (2023-2028).
Segment by Power
Less than 2000 KW
2000 to 5000 KW
5000 to 10000 KW
10000 to 20000 KW
20000 to 30000 KW
More than30000 KW
Segment by Application
Bulk Carriers
Oil Tankers
Container Ships
Gas Carriers
Chemical Tankers
Ferries And Passenger Ships
General Cargo Ships
Others
Regional Outlook
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular regioncountry. The readers will also get their hands on the revenue and production data of each region and country for the period 2017-2028. This information derived through comprehensive research will help the reader to get familiar with the potential value of the investment in a particular region.
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Competitive Scenario
In this section, the readers will gain an understanding of the key players competing. The experts at OMR Market Research have studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and production by manufacturers for the period 2017-2022. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.
Some of the prominent players reviewed in the research report include
Hyundai Heavy Industries
China State Shipbuilding Corporation
HSD Engine Co., Ltd
Mitsui E&S
Daihatsu Diesel
IHI Power Systems Co.,Ltd.
J-ENG
Wartsila
Man Energy Solution
Caterpillar
Yanmar
Frequently Asked Questions
Which product segment grabbed the largest share in the Marine and Maritime Engines market
How is the competitive scenario of the Marine and Maritime Engines market
Which are the key factors aiding the Marine and Maritime Engines market growth
Which are the prominent players in the Marine and Maritime Engines market
Which region holds the maximum share in the Marine and Maritime Engines market
What will be the CAGR of the Marine and Maritime Engines market during the forecast period
Which application segment emerged as the leading segment in the Marine and Maritime Engines market
What key trends are likely to emerge in the Marine and Maritime Engines market in the coming years
What will be the Marine and Maritime Engines market size by 2028
Which company held the largest share in the Marine and Maritime Engines market ?
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