Market Drivers and Challenges
The report identifies the increase in maritime trade and fleet size as one of the major factors driving the growth of the market. In addition, other factors including the growth in demand for naval vessels and surge in use of LNG as marine fuel will further accelerate the growth of the market. However, challenges including the MARPOL regulations, volatility in crude oil and natural gas prices and low demand and oversupply of marine vessels will impede the market growth.
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Market Segmentation
The marine propulsion engine market is segmented as:
- By Type
o Diesel
o Gas - By Geography
o APAC
o Europe
o North America
o MEA
o South America
The diesel type segment led the market share in 2020 and will continue to retain its dominance in the market. In terms of geography, 69% of the growth will originate from APAC. China, Japan, and South Korea will emerge as the key revenue-generating economies of this region. This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Market Scope
The marine propulsion engine market covers the following areas:
Marine Propulsion Engine Market Sizing
Marine Propulsion Engine Market Forecast
Marine Propulsion Engine Market Analysis
Companies Mentioned
- AB Volvo
- BAE Systems Plc
- Beta Marine Ltd.
- Caterpillar Inc.
- Cummins Inc.
- General Electric Co.
- Mitsubishi Heavy Industries Ltd.
- Rolls-Royce Plc
- Wartsila Corp.
- Yanmar Holdings Co. Ltd.
Related Reports:
Marine Outboard Engines Market by Engine Power and Geography – Forecast and Analysis 2021-2025
Marine Engines Market by Type and Geography – Forecast and Analysis 2021-2025
|
Marine Propulsion Engine Market Scope |
|
|
Report Coverage |
Details |
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Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 3.87% |
|
Market growth 2021-2025 |
USD 1.34 billion |
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Market structure |
Fragmented |
|
YoY growth (%) |
2.85 |
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Regional analysis |
APAC, Europe, North America, MEA, and South America |
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Performing market contribution |
APAC at 69% |
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Key consumer countries |
China, South Korea (Republic of Korea), Japan, Germany, and US |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
AB Volvo, BAE Systems Plc, Beta Marine Ltd., Caterpillar Inc., Cummins Inc., General Electric Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Wartsila Corp., and Yanmar Holdings Co. Ltd. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
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