Marine Propulsion Engines Global Market Report 2023

Description

“Marine Propulsion Engines Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on marine propulsion engines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for marine propulsion engines? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The marine propulsion engines market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Engine Type: 2-Stroke Engine; 4- Stroke Engine

2) By Ship Type: Cargo Or Container Ships; Tanker; Bulk Carrier; Offshore Vessel; Passenger Ship; Other Ship Types

3) By Power Range: 0-1,000 HP; 1,001-5,000 HP; 5,001-10,000 HP; 10,001-20,000 HP; Above 20,000 HP

4) By Fuel Type: Diesel; Heavy Fuel Oil; Natural Gas; Other Fuel Types

5) By Application: Commercial; Defense; Passenger

Companies Mentioned: Caterpillar; Daihatsu Diesel Mfg. Co. Ltd.; Hyundai Heavy Industries Co. Ltd.; Mitsubishi Heavy Industries Ltd.; Rolls-Royce Plc.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the marine propulsion engines market are Caterpillar, Daihatsu Diesel Mfg. Co. Ltd., Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc., Wartsila, Yanmar Holdings Co. Ltd., Scania, MAN Energy Solutions, Cummins Inc., AB Volvo Penta, General Electric, Masson Marine, Kawasaki Heavy Industries Ltd. and Fairbanks Morse Defense

The global marine propulsion engines market is expected to grow from $24.30 billion in 2022 to $25.40 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity pricesand supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The marine propulsion engines market is expected to reach $31.18 billion in 2027 at a CAGR of 4.1%.

The marine propulsion engines market consists of sales of wind propulsion systems, nuclear propulsion systemsand gas turbine propulsion systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributorsand retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Marine propulsion engines refer to a system that propels ships across the water while maintaining a higher level of safety for the marine environment. These enable fuel and operational flexibility, high efficiency, low emissionsand operational cost advantages.

Asia-Pacific was the largest region in the marine propulsion engines market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of marine propulsion engines are 2-stroke engines, 4- stroke engines. A two-stroke engine refers to a type of internal combustion engine that uses two piston strokes to complete a power cycle in just one crankshaft rotation. The various types of ships include cargo or container ships, tankers, bulk carriers, offshore vessels, passenger shipsand other ship types. The various power ranges include 0-1,000 HP, 1,001-5,000 HP, 5,001-10,000 HP, 10,001-20,000 HP, above 20,000 HP and various fuel types include diesel, heavy fuel oil, natural gasand other fuel types. These are used in various applications such as commercial, defenseand passenger.

The rise in international seaborne trade is expected to propel the growth of the marine propulsion engine market going forward. Seaborne trade refers to the kind of trade that uses ships to convey commodities across the sea. Ships are propelled across the water by means of marine propulsion systems, which also provide a higher level of safety for the marine ecosystem, are economicaland minimize emissions for the maritime industry, as a result, the rise in international seaborne trade increases the demand for marine propulsion engine market. For instance, in 2022, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization, marine trade increased by 1.4% and is expected to increase by 2.1% during 2023 to 2027. Further, containerized trade, increased by 1.2% in 2022 and is expected to increase by 1.9% in 2023. Therefore, the rise in international seaborne trade is driving the marine propulsion engine market.

Product innovations are the key trend gaining popularity in the marine propulsion engine market. Major companies operating in the marine propulsion engine market are focusing on developing innovative products to strengthen their position in the market. For instance, in September 2022, AB Volvo Penta, a US-based manufacturer of engines and complete power systems for boats, vesselsand industrial applications, launched variable-speed marine generator sets for marine electric propulsion. The unique feature of the generator set is its smaller battery banks and the ability to charge them while in motion, which makes the transition to hybrid-electric marine propulsion more affordable and practical. Volvo Penta is offering the range with models starting from the D8, 190 kWand ranging up to 545 KWe for the D16.

In June 2021, AB Volvo Penta, a US-based manufacturer of engines and complete power systems for boats, vesselsand industrial applications, acquired ZEM AS for an undisclosed amount. Through the acquisition of ZEM AS, Volvo Penta anticipates accelerating development projects and assisting ZEM's expansion through its existing network. It is anticipated that the two businesses would work together to increase and broaden Volvo Penta's capabilities in marine electromobility. ZEM AS is a Norway-based company operating in marine propulsion systems.

The countries covered in the marine propulsion engines market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The marine propulsion engines market research report is one of a series of new reports from The Business Research Company that provides marine propulsion engines market statistics, including marine propulsion engines industry global market size, regional shares, competitors with a marine propulsion engines market share, detailed marine propulsion engines market segments, market trends and opportunitiesand any further data you may need to thrive in the marine propulsion engines industry. This marine propulsion engines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Product Code: r6560

1. Executive Summary

2. Marine Propulsion Engines Market Characteristics

3. Marine Propulsion Engines Market Trends And Strategies

4. Marine Propulsion Engines Market - Macro Economic Scenario

4.1. COVID-19 Impact On Marine Propulsion Engines Market
4.2. Ukraine-Russia War Impact On Marine Propulsion Engines Market
4.3. Impact Of High Inflation On Marine Propulsion Engines Market

5. Marine Propulsion Engines Market Size And Growth

5.1. Global Marine Propulsion Engines Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
5.2. Global Marine Propulsion Engines Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market

6. Marine Propulsion Engines Market Segmentation

6.1. Global Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
2-Stroke Engine
4- Stroke Engine
6.2. Global Marine Propulsion Engines Market, Segmentation By Ship Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Cargo Or Container Ships
Tanker
Bulk Carrier
Offshore Vessel
Passenger Ship
Other Ship Types
6.3. Global Marine Propulsion Engines Market, Segmentation By Power Range, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
0-1,000 HP
1,001-5,000 HP
5,001-10,000 HP
10,001-20,000 HP
Above 20,000 HP
6.4. Global Marine Propulsion Engines Market, Segmentation By Fuel Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Diesel
Heavy Fuel Oil
Natural Gas
Other Fuel Types
6.5. Global Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Commercial
Defense
Passenger

7. Marine Propulsion Engines Market Regional And Country Analysis

7.1. Global Marine Propulsion Engines Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Marine Propulsion Engines Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Marine Propulsion Engines Market

8.1. Asia-Pacific Marine Propulsion Engines Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8.3. Asia-Pacific Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Marine Propulsion Engines Market

9.1. China Marine Propulsion Engines Market Overview
9.2. China Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
9.3. China Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Marine Propulsion Engines Market

10.1. India Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
10.2. India Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Marine Propulsion Engines Market

11.1. Japan Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.2. Japan Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Marine Propulsion Engines Market

12.1. Australia Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12.2. Australia Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Marine Propulsion Engines Market

13.1. Indonesia Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13.2. Indonesia Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Marine Propulsion Engines Market

14.1. South Korea Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14.2. South Korea Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Marine Propulsion Engines Market

15.1. Western Europe Marine Propulsion Engines Market Overview
15.2. Western Europe Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15.3. Western Europe Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Marine Propulsion Engines Market

16.1. UK Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16.2. UK Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Marine Propulsion Engines Market

17.1. Germany Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17.2. Germany Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Marine Propulsion Engines Market

18.1. France Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18.2. France Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Marine Propulsion Engines Market

19.1. Eastern Europe Marine Propulsion Engines Market Overview
19.2. Eastern Europe Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19.3. Eastern Europe Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Marine Propulsion Engines Market

20.1. Russia Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20.2. Russia Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Marine Propulsion Engines Market

21.1. North America Marine Propulsion Engines Market Overview
21.2. North America Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21.3. North America Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Marine Propulsion Engines Market

22.1. USA Marine Propulsion Engines Market Overview
22.2. USA Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22.3. USA Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Marine Propulsion Engines Market

23.1. South America Marine Propulsion Engines Market Overview
23.2. South America Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23.3. South America Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Marine Propulsion Engines Market

24.1. Brazil Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24.2. Brazil Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Marine Propulsion Engines Market

25.1. Middle East Marine Propulsion Engines Market Overview
25.2. Middle East Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25.3. Middle East Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Marine Propulsion Engines Market

26.1. Africa Marine Propulsion Engines Market Overview
26.2. Africa Marine Propulsion Engines Market, Segmentation By Engine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26.3. Africa Marine Propulsion Engines Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Marine Propulsion Engines Market Competitive Landscape And Company Profiles

27.1. Marine Propulsion Engines Market Competitive Landscape
27.2. Marine Propulsion Engines Market Company Profiles
- 27.2.1. Caterpillar
  - 27.2.1.1. Overview
  - 27.2.1.2. Products and Services
  - 27.2.1.3. Strategy
  - 27.2.1.4. Financial Performance
- 27.2.2. Daihatsu Diesel Mfg. Co. Ltd.
  - 27.2.2.1. Overview
  - 27.2.2.2. Products and Services
  - 27.2.2.3. Strategy
  - 27.2.2.4. Financial Performance
- 27.2.3. Hyundai Heavy Industries Co. Ltd.
  - 27.2.3.1. Overview
  - 27.2.3.2. Products and Services
  - 27.2.3.3. Strategy
  - 27.2.3.4. Financial Performance
- 27.2.4. Mitsubishi Heavy Industries Ltd.
  - 27.2.4.1. Overview
  - 27.2.4.2. Products and Services
  - 27.2.4.3. Strategy
  - 27.2.4.4. Financial Performance
- 27.2.5. Rolls-Royce Plc.
  - 27.2.5.1. Overview
  - 27.2.5.2. Products and Services
  - 27.2.5.3. Strategy
  - 27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Marine Propulsion Engines Market

29. Marine Propulsion Engines Market Future Outlook and Potential Analysis

30. Appendix

30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. The Business Research Company
30.6. Copyright And Disclaimer