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Market Research Report
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916653

Global Marine Engines Market - 2021-2028

Published: | DataM Intelligence | 180 Pages | Delivery time: 2 business days

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Global Marine Engines Market - 2021-2028
Published: July 26, 2021
DataM Intelligence
Content info: 180 Pages
Delivery time: 2 business days
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  • Description
  • Table of Contents
Description

Market Overview

The Global Marine Engines market size is expected to grow at a CAGR of XX% during the forecast period 2021-2028.

A marine is the kind of engine installed in a boat or ship for use in water bodies. There are basically two types of marine engines - for small vessels the automotive engines are adapted, and for large vessels the engines are specifically built depending on the purpose. Marine automobile engines are the types of automobile petrol or diesel engines that have been specifically modified for use in the marine environment. The differences include changes made for operating in a marine environment, safety, performance, and regulatory requirements.

Market Dynamics

Rise in the growth of maritime tourism worldwide

Growth and recovery of maritime tourism worldwide is a driving factor for the growth of marine engine market in the forecast period. The Organisation of Economic Co-operation and Development had projected that the tourism industry will become the largest ocean economy by 2030. However, the pandemic had severely affected the growth of the industry. According to World Resource Institute, 2021, oceans and coasts are at the heart of tourism, as 80% of all tourism takes place in coastal areas. The new realities have awakened a new approach to tourism, particularly from island and coastal nations.

In 2020 the High-Level Panel for a Sustainable Ocean Economy (Ocean Panel) made their objective of a sustainable tourism economy by 2030. They "Coastal and ocean-based tourism is sustainable, resilient, addresses climate change, reduces pollution, supports ecosystem regeneration and biodiversity conservation and invests in local jobs and communities." The guidance is expected to be followed by the government for recovery of the industry. The Tourism Action Coalition for a Sustainable Ocean created in response to the Ocean Panel's call to action will serve as a knowledge hub and action platform to drive sustainable coastal and ocean-based tourism.

Strict environmental rules and regulations globally and instabilities in oil & gas prices are the key restraints hindering the market growth worldwide. For instance, EPA has adopted exhaust emission standards for marine diesel engines installed in a variety of marine vessels ranging in size and application from small recreational vessels to tugboats and large ocean-going vessels.

Segment Analysis

Based on the engine, the marine engines market is divided into the auxiliary engine, propulsion engine, generator drive engines, and others. Others include diesel-electric engines. The global marine engine market size by propulsion engine segment was worth USD YY million in 2020 and is estimated to reach USD YY million by 2028, at a CAGR of YY% during the forecast period.

The propulsion engines market is expected to have the highest market share in the forecast period. In a 2021 press release by Yanmar, it was mentioned that to enhance the product line up of propulsion engines Kawasaki Heavy Industries Yanmar Power Technology and Japan Engine Corporation will focus on medium, high-speed 4-stroke engines and low-speed 2-stroke engines. The propulsion engines developed will be used for wide-range vessels.

The highly efficient and durable marine propulsion engines power various types of marine applications. Companies are focusing to introduce propulsion diesel engines. For instance, Yanmar produce and provide medium speed propulsion diesel engines between 374 and 4,500kW for commercial ship, workboats, and large fishing boats, etc. Adding to this, ABC engine has launched with a well-designed propulsion system ensures optimal performance at the lowest fuel consumption while complying with the existing and future emission regulations.

Geographical Analysis

The market can be segmented geographically into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. The Asia Pacific is expected to grab the major market share in the forecast period due to the presence of key manufacturing hubs for marine engines in major Asia Pacific economies like Japan, South Korea and China. There are collaborations for manufacturing in the region. For instance, in May 2021, Hindustan Aeronautics Limited, and Rolls-Royce signed a MoU which will provide support in installation, packaging, marketing and services support for Rolls-Royce MT30 marine engines in India. This will be the first time HAL and Rolls-Royce will be working together. There are also establishment of new companies in the region. For instance in 2020, Yanmar a diesel company from Japan had established a new marine company in Asia named Yanmar Marine International Asia (YMIA). The company activities will involve the development, production, sales and service of marine engines and propulsion units in the Asia region, including Japan.

Competitive Analysis

The Marine Engines market is competitive with numerous players in the market. Some of the major players include Mitsubishi Heavy Industries, Wartsila, Rolls-Royce, John Deere, GE Transportation, Man SE, Hyundai Heavy Industries, Caterpillar, Volvo Group and Deutz AG. The key players adopt various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Marine Engines Market.

For instance, in 2017, Mitsubishi Industries concluded an agreement to pursue integration of the marine diesel engine operations of MHI-MME and Kobe Diesel. The integration of the companies' marine diesel operations will establish a highly resilient and flexible business operating system which will be indispensable for the sustained growth of the UE engine business.

The companies are also creating products that follow the standards applied by different governments for emissions. For instance, in April 2021, the technology group Wartsila announced that it will introduce a combined engine plus selective catalytic reduction (SCR) packaged product with the aim to comply with China's marine engine emission standard. The standard will apply to inland waterway, coastal, river-sea, channel and fishing vessels operating in most rivers and around the country's major harbour areas.

Another instance, Rolls-Royce had announced that it has inked pact with Goa Shipyard Ltd (GSL) to manufacture technologically-advanced MTU Series 8,000 engines, used in offshore patrol vessels, in India.

The Volkswagen group-owned company, commercial vehicles, and engine manufacturer Scania has launched its marine engine platform with the high-output 16-liter V8, the powerful 13-liter and the new 9-liter engines in India.

In April 2019, Norwegian technology group Kongsberg Gruppen announced that it has completed its acquisition of Rolls-Royce Commercial Marine (RRCM).

Why Purchase the Report?

  • Visualize the composition of the Marine Engines in terms of various types of engines, fuel types, power ranges, types and their applications highlighting the key commercial assets and players.
  • Identify commercial opportunities in the Marine Engines market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of Marine Engines market-level 4/5 segmentation.
  • A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players
Table of Contents
Product Code: DMAT2165

Table of Contents

1. Marine Engines Market Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Marine Engines Market - Market Definition and Overview

3. Marine Engines Market - Executive Summary

  • 3.1. Market Snippet by Fuel Type
  • 3.2. Market Snippet by Power Range
  • 3.3. Market Snippet by Engine
  • 3.4. Market Snippet by Application
  • 3.5. Market Snippet by Type
  • 3.6. Market Snippet by Region

4. Marine Engines Market Dynamics

  • 4.1. Market Impacting Factors
  • 4.2. Drivers
    • 4.2.1. The rise in the growth of maritime tourism worldwide
    • 4.2.2. Increasing demand for dual-fuel engines
  • 4.3. Restraints
    • 4.3.1. Strict environmental rules and regulations globally
    • 4.3.2. Instabilities in oil & gas prices
  • 4.4. Opportunity
  • 4.5. Impact Analysis

5. Marine Engines Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Regulatory Analysis

6. Marine Engines Market - By Fuel Type

  • 6.1. Introduction
    • 6.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Fuel Type
    • 6.1.2. Market Attractiveness Index, By Fuel Type
  • 6.2. Marine Diesel Oil*
    • 6.2.1. Introduction
    • 6.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 6.3. Marine Gas Oil
  • 6.4. Heavy Fuel Time
  • 6.5. Intermediate Fuel Oil
  • 6.6. Others (LNG, Gasoline, Hybrid, Gas Turbine)

7. Marine Engines Market - By Power Range

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Power Range
    • 7.1.2. Market Attractiveness Index, By Power Range
  • 7.2. Up to 5,000 HP*
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 7.3. 5,000 HP to 15,000 HP
  • 7.4. Above 15,000 HP

8. Marine Engines Market - By Engine

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Engine
    • 8.1.2. Market Attractiveness Index, By Engine
  • 8.2. Auxiliary Engine*
    • 8.2.1. Introduction
    • 8.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 8.3. Propulsion Engine
  • 8.4. Generator Drive Engines
  • 8.5. Others (Diesel Electric Engine)

9. Marine Engines Market - By Application

  • 9.1. Introduction
    • 9.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.1.2. Market Attractiveness Index, By Application
  • 9.2. Offshore Support Vessel*
    • 9.2.1. Introduction
    • 9.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 9.3. Commercial Vessel
  • 9.4. Inland Waterways Vessel
  • 9.5. Others (Recreational, Pure Car Carrier)

10. Marine Engines Market - By Type

  • 10.1. Introduction
    • 10.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 10.1.2. Market Attractiveness Index, By Type
  • 10.2. Two-Stroke*
    • 10.2.1. Introduction
    • 10.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 10.3. Four-Stroke

11. Marine Engines Market - By Region

  • 11.1. Introduction
    • 11.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
    • 11.1.2. Market Attractiveness Index, By Region
  • 11.2. North America
    • 11.2.1. Introduction
    • 11.2.2. Key Region-Specific Dynamics
    • 11.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Fuel Type
    • 11.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Power Range
    • 11.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Engine
    • 11.2.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 11.2.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 11.2.8. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 11.2.8.1. U.S.
      • 11.2.8.2. Canada
      • 11.2.8.3. Mexico
  • 11.3. Europe
    • 11.3.1. Introduction
    • 11.3.2. Key Region-Specific Dynamics
    • 11.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Fuel Type
    • 11.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Power Range
    • 11.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Engine
    • 11.3.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 11.3.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 11.3.8. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 11.3.8.1. Germany
      • 11.3.8.2. U.K.
      • 11.3.8.3. France
      • 11.3.8.4. Italy
      • 11.3.8.5. Spain
      • 11.3.8.6. Rest of Europe
  • 11.4. South America
    • 11.4.1. Introduction
    • 11.4.2. Key Region-Specific Dynamics
    • 11.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Fuel Type
    • 11.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Power Range
    • 11.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Engine
    • 11.4.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 11.4.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 11.4.8. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 11.4.8.1. Brazil
      • 11.4.8.2. Argentina
      • 11.4.8.3. Rest of South America
  • 11.5. Asia Pacific
    • 11.5.1. Introduction
    • 11.5.2. Key Region-Specific Dynamics
    • 11.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Fuel Type
    • 11.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Power Range
    • 11.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Engine
    • 11.5.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 11.5.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 11.5.8. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 11.5.8.1. China
      • 11.5.8.2. India
      • 11.5.8.3. Japan
      • 11.5.8.4. Australia
      • 11.5.8.5. Rest of Asia Pacific
  • 11.6. Middle East and Africa
    • 11.6.1. Introduction
    • 11.6.2. Key Region-Specific Dynamics
    • 11.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Fuel Type
    • 11.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Power Range
    • 11.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Engine
    • 11.6.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 11.6.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

12. Marine Engines Market Competitive Landscape

  • 12.1. Competitive Scenario
  • 12.2. Market Positioning/Share Analysis
  • 12.3. Mergers and Acquisitions Analysis

13. Marine Engines Market Company Profiles

  • 13.1. Mitsubishi Heavy Industries*
    • 13.1.1. Company Overview
    • 13.1.2. Product Portfolio and Description
    • 13.1.3. Key Highlights
    • 13.1.4. Financial Overview
  • 13.2. Wartsila
  • 13.3. Rolls-Royce
  • 13.4. John Deere
  • 13.5. GE Transportation
  • 13.6. Man SE
  • 13.7. Hyundai Heavy Industries
  • 13.8. Caterpillar
  • 13.9. Volvo Group
  • 13.10. Deutz AG ("List not exhaustive")

14. Marine Engines Market - DataM

  • 14.1. Appendix
  • 14.2. About Us and Services
  • 14.3. Contact Us