New York, US, March 09, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Electronics business-consulting firm, has published a market intelligence and competitive landscape report on the “Marine Engines Market”. As per the report, the total market opportunity for the Marine Engines market was USD 11.48 Bn in 2021 and is expected to grow at 2.8 percent CAGR over the forecast period to reach USD 14.32 Bn by 2029.
| Market Size in 2021 | USD 11.48 Bn |
| Market Size in 2029 | USD 14.32 Bn |
| CAGR | 2.8 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 260 |
| No. of Tables | 125 |
| No. of Charts and Figures | 120 |
| Segment Covered | Type, Engine, Fuel Type, Capacity, and Ship Type |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Marine Engines Market Scope and Research Methodology
The report on Marine Engines Market provides a thorough analysis of the industry. Key highlights of the report include the market size and the growth rate. Key insights of the report include the major applications and drivers of the market, challenges to growth and opportunities for market growth. The report also covers a thorough regional analysis of the Marine Engines industry at local, regional and global level.
For a competitive analysis of the market, the report lists key players and new entrants in the market. Such analysis takes into account the major players in the market along with their business models and growth trends. Growth indicators that included the revenue generated, financial status of the company, technological advancements, social media presence, manufacturing locations, mergers and acquisitions, joint ventures. This enables the clients to understand the competitive landscape of the Marine Engines Market and the strategies used by the major competitors in the market.
The data for the analysis was collected using primary and secondary research. Primary research includes surveys, interviews, questionnaires and telephonic interviews. Secondary research included government sites, journals and paid and unpaid sources of information. Research tools such as SWOT, PESTLE and Porter’s Five Force analysis were employed for the analysis. The report thus acts as a toolkit for the clients to take data-driven decisions in the Marine Engines Market.
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Marine Engines Market Overview
Marine engines are heat engines used for converting heat, which is generated by burning fuel into useful work such as developing thermal energy and transforming it into mechanical energy. The major factors that are expected to create various marine engines market growth opportunities is the increasing e-commerce and digital trade across the world.
Marine Engines Market Dynamics
Marine shipping is the primary route for global trade, therefore, the increasing international marine transportation is one of the major drivers of the marine engines market growth. The marine engines market is also expected due to the increasing demand for gas-based marine engines. Natural gas is one of the cleanest types of fuel and it is majorly used in gas carriers. The market growth is expected to be hampered by the increasing adoption of clean energy technologies with stringent emission norms. The stringent emission norms introduced by several administrations to reduce the usage and emission of harmful substances from different sources are expected to limit the marine engines industry growth.
Marine Engines Market Regional Insight
The APAC region dominated the global marine engines market in 2021 and is expected to retain its dominance during the forecast period. The regional Marine Engines Market is majorly growing due to the growth in the shipbuilding industry and the increasing maritime trade activities in the APAC countries.
The marine engines market in the North America region is expected to grow at a high rate during the forecast period. The regional market growth is expected majorly due to the increasing seaborne trade across nations.
Marine Engines Market Segmentation
By Type:
- Two Stroke
- Four Stroke
By Engine:
- Propulsion Engine
- Auxiliary Engine
By Fuel Type:
- Heavy Fuel Oil
- Marine Diesel Oil
- Marine Gas Oil
- Others
By Capacity:
- Up to 1,000 HP
- 1,001–5,000 HP
- 5,001–10,000 HP
- 10,001–20,000 HP
- Above 20,000 HP
By Ship Type:
- Bulk Carriers
- General Cargo Ships
- Container Ships
- Ferries & Passenger Ships
- Oil Tankers
- Others
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Marine Engines Market Key Players include:
- GM Powertrain
- Caterpillar, Inc.
- Cummins Engines
- Wartsila Corporation
- Rolls Royce
- MAN Diesel & Turbo SE
- Wärtsilä
- Mitsubishi Heavy Industries
- Hyundai Heavy Industries Co., Ltd.
- Scania
- YANMAR CO., LTD.
- DAIHATSU DIESEL MFG.CO. LTD.
- Nigata Power Systems Co., Ltd.
- Fairbanks Morse Engine
- Masson-Marine
- General Electric Company
- Mercury Marine
- Sumitomo Heavy Industries
- Brunswick Corporation
- AB Volvo
- John Deere
- Daihatsu Diesel MFG. Co. Ltd.
- Dresser-Rand Group, Inc.
- Deutz AG
- STX
Key questions answered in the Marine Engines Market are:
- What is Marine Engines?
- What was the Marine Engines market size in 2021?
- What is the forecast period of Marine Engines market?
- What is the growth rate of the Marine Engines Market?
- Which are the factors expected to drive the Marine Engines market growth?
- What are the factors expected to restrain the Marine Engines market growth?
- Which segment dominated the Marine Engines market growth?
- What is the demand pattern for the Marine Engines market?
- Which region held the largest share in the Marine Engines market?
- Who are the key players in the Marine Engines market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Type, Engine, Fuel Type, Capacity, and Ship Type Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
General Aviation Engines Market: The total market size was valued at USD 60.80 Bn in 2021, and it is expected to reach USD 120.26 Bn by 2029, exhibiting a CAGR of 8.9 percent during the forecast period (2022-2029). Growing demand for air travel, several airlines are updating their fleets by acquiring new planes, which increases the need for new engines is expected to drive market growth.
Jet Engines Market: The total market size is expected to reach 94.39 Bn by 2029, at a CAGR of 5.01 percent during the forecast period. Rising preference for air travel, increasing use of jet engines in the military as well as commercial aviation are expected to drive the market growth.
Marine Cranes Market: The market size was valued at USD 3.29 Bn in 2021 and the total revenue is expected to grow at 15.59 percent through 2022 to 2029, reaching nearly USD 10.48 Bn. Rise in offshore exploration activities and production activities is expected to drive the market size.
Marine Engine Monitoring System Market: The total market size is expected to reach USD 1000.3 Mn by 2029, at a CAGR of 3.72 percent during the forecast period. Growth of marine communication and electronics technology solutions, surge in the adoption of various vessel and ship management is expected to drive the market growth.
Pneumatic Marine Fender Market: The total market size is expected to reach USD 11.48 Bn by 2029, at growth rate of 3.21 percent during forecast period. Increasing demand for maritime transportation and marine equipment is expected to drive the market growth.
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