Marine engines market is expected to grow at a significant CAGR during the forecast period. The marine engine is a mechanical device that is applicable to serve the propulsion of marine vessels and watercraft. It was a type of propeller or engine that are implanted or manufactured on various ships to perform their actions. The marine engine comprises an internal combustion engine and onboard, ships to deliver efficient energy to the propulsion system, generators, auxiliary equipment and vessels. The engine was manufactured and designed with resistance against corrosion, water and chemical harms to safeguard the material.
The increasing implementation of smart engines, growth in marine freight transport among the international region and gradual increase in maritime tourism are some major factors attributed to driving the market growth of the global marine engines market. The increasing demand for dual-fuel engines and hybrid engines is further expected to drive the market growth of the global marine engines market during the forecast period.
The increasing demand for efficient power, highly economic and maximum mileage capacity for marine engines and growing need for fuel-efficient engines propels the growth of the global marine engines market. Additionally, the rising development in maritime industries, increasing government initiatives and investment in manufacturing and production of marine engines and rising technological advancement to gain desirable function and enhanced productivity are some major dynamics that were anticipated to induce lucrative growth opportunities for the global marine engines market and exhibit highest market growth during the forecast period.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered-
- By Power Range
- By Engine
- By Vessel
- By Type
- By Fuel
- Competitive Landscape- Hyundai Heavy Industries, Caterpillar, MAN SE, Mitsubishi Heavy Industries, Volvo Penta.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from pre-COVID forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Marine Engines Market by Segment
By Power Range
- Up to 1000 hp
- 1001 – 5000 hp
- 5001 – 10000 hp
- 10001 – 20000 hp
- Above 20000 hp.
By Engine
- Propulsion Engine
- Auxillary Engine
By Vessel
- Commercial Vessel
- Offshore Support Vessel
- Others
By Type
- Two-stroke
- Four-stroke
By Fuel
- Heavy Fuel Oil
- Intermediate Fuel Oil
- Marine Diesel Oil
- Marine Gas Oil
- Others
A full Report of Marine Engines Market is Available at: https://www.omrglobal.com/industry-reports/marine-engine-market
Marine Engines Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
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