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Marine Engines Market worth 11.06 Billion USD by 2020

 



(MoneyNewsWire.Net, June 27, 2016 ) The report “Marine Engine Market by propulsion (2 stroke, 4 stroke, diesel electric & others), by power 000’ HP (up to 20, 20-40, 40-60, 60-80 & above 80), by vessels (commercial, offshore support, & inland waterways) by fuel & by region - Global Forecast to 2020”, defines and segments the global marine engines market with an analysis and forecast of the market size.

Browse 91 market data tables and 61 figures spread through 171 Pages and in-depth TOC on "Marine Engine Market - Global Forecast to 2020"

Download PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=261640121

The marine engines market is expected to grow from an estimated USD 9.10 Billion in 2015 to USD 11.06 Billion by 2020, at a CAGR of 4.0% during the forecast period. Rise in international seaborne trade and growing need for efficient & reliable power for propelling ships are driving the marine engines market across the globe.

Higher functional advantages drive the growth of diesel electric engines

Among the three major types of propulsion systems, diesel electric engines are considered to be the best alternative when compared to other conventional propulsion systems, such as two stroke engines. This segment is estimated to grow at a higher rate when compared to two stroke and four stroke propulsion systems due to stringent environmental norms to reduce harmful gas emissions.

Increasing preference for LNG and its hybrid fuels

The report also segments the marine engines market on the basis of fuel used, which includes HFO, IFO, MDO, MGO, and others. HFO-based marine engines have been widely accepted in the past few years, but LNG-based marine engines are at an emerging stage. Increasing emission control regulations and recent revisions in IMO standards have led to an increasing use of low sulfur oils such as MDO and MGO, replacing the use of bunker oil (HFO). However, most marine engines use HFO as it is a conventional fluid and is more economical than other marine engine fuels. In future, LNG and its hybrid fuel is expected to grow at a higher CAGR compared to other fuels during the forecast period.

Asia-Pacific is the dominant market for marine engines

In this report, the marine engines market has been analyzed with respect to five regions, namely, North America, South America, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific will continue to dominate the market with growth in the shipbuilding market in China, Japan, South Korea, and India.

To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the marine engines market including Caterpillar Inc. (U.S.), GM Powertrain (Italy), Rolls Royce (U.K.), Wartsila Corporation (Finland), and Mercury Marine (U.S.) among others. Dominant players are trying to penetrate developing economies and adopting various methods to grab the market share.

MarketsandMarkets broadly segments the marine engines market on the basis of application, by propulsion mechanism, by power capacity, by fuel, and by location. The study covers more than 25 vessel types including bulker, containership, general cargo, reefer, tanker, tugs, chemical carrier, LNG carrier, LPG carrier, product carrier, special carrier, and other carrier.

Speak to Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=261640121

Stakeholders:

The stakeholders for the report include:

• OEMs/Marine Engine Manufacturers - Caterpillar Inc. (U.S.), GM Powertrain (Italy), Rolls Royce (U.K.), Wartsila Corporation (Finland), and Mercury Marine (U.S.) among others
• Shipbuilding Companies- These include Mitsubishi Heavy Industries (Japan), Samsung Heavy Industries (South Korea), Hyundai Heavy Industries (South Korea), China State Shipbuilding Corporation (China), and Sumitomo Heavy Industries (Japan) among others

Enquiry (Ask for Customized Report Matching Your Exact Requirement): http://www.marketsandmarkets.com/requestCustomization.asp?id=261640121

About MarketsandMarkets

MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.


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