Market Research Report
Marine Engines - Global Market Outlook (2017-2026)
|Marine Engines - Global Market Outlook (2017-2026)|
Published: April 1, 2019
Stratistics Market Research Consulting
Content info: 129 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Marine Engines Market is accounted for $12.91 billion in 2017 and is expected to reach $18.55 billion by 2026 growing at a CAGR of 4.1% from 2017 to 2026. Some of the factors such as increase in maritime tourism, growth in shipbuilding activities and rising usage of environment friendly LNG-fueled engines are favoring the market. However, strict environmental regulations coming into effect are hampering the market. Moreover, increasing demand for dual-fuel engines will provide ample opportunities for growth of the market.
Marine engines are used to provide power to marine vehicles like ships, submarines and boats. They are the engines which are installed in the marine vehicles. These engines consist of different components including crankshaft, liner, pistons, bedplate and head. They are constructed with corrosion inhibiting materials and their seals & bearings are especially designed for sea operating environment. Marine vehicles can be either commercial, defense or for personal use.
By Vessel, Commercial Vessel acquired significant share during forecast period due to rise in the international seaborne trade. The Bulk carriers in Commercial Vessels are used to transport loose dry cargoes such as ore, grains and cement. Based on Geography, Asia Pacific dominated the market growth due to increase in seaborne trade, rise in defense spending and flourishing shipbuilding industry.
Some of the key players in this market include Anglo Belgian Corporation, Dolphin Engines, Calcutt Boats Ltd, Caterpillar Marine Power Systems, Daihatsu Diesel Pro, Deutz Ag, GMT, IHI Corporation Ltd., Jason Engineering As, Scania, SIA Rigas Dizelis DG, STX Engine, GE Transportation, Cummins Inc. and Rolls-Royce Power Systems AG.
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in the above manner.