Market Overview:
The global marine gensets market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for merchant ships, ocean vessels, and defense ships across the globe. Additionally, factors such as rising fuel prices and stringent environmental regulations are also contributing to the growth of this market. The diesel fuel segment is expected to hold a major share of the global marine gensets market during the forecast period. This can be attributed to its high efficiency and low emissions as compared with gas-powered engines.
Product Definition:
A marine genset is a power generating system that is specifically designed for use in a maritime environment. Marine gensets are typically used to provide electrical power for vessels and other watercraft. They are often employed to supply standby or emergency power, as well as to support the main propulsion system.
Diesel Fuel:
Diesel is a type of fuel that is produced by the incomplete combustion of hydrocarbons, most commonly diesel oil or gasoil. Diesel has been traditionally used as a fuel in marine engines and this usage has increased over time owing to its properties such as high energy content per volume than other fuels, less toxic & inflammable than gasoline and it can be stored for long periods without loss in strength or quality.
Gas Fuel:
Gas fuel is used in marine gensets to generate electricity. It is a mixture of natural gas and oxygen which can be used as energy source in the genset. The major advantage of using gas fuel over oil or coal based fuels is that it does not release harmful emissions into the atmosphere, making it environmentally friendly. Additionally, low cost associated with its production makes it an ideal choice for power generation purposes across various regions globally.
Application Insights:
The ocean vessel application segment accounted for the largest revenue share in 2017 and is projected to witness significant growth over the forecast period. The rising demand for these engines as they are environment-friendly, fuel efficient, and reliable is expected to drive the industry growth over the coming years.
The defense ship application segment was valued at USD 1.5 billion in 2017 owing to their ability to provide power in emergency situations when batteries get exhausted. These engines also have a long life expectancy of more than 10,000 nautical miles which makes them ideal for ships used by military forces across various regions including Asia Pacific and Middle East & Africa.
Regional Analysis:
Asia Pacific dominated the global marine gensets market in 2017 and is expected to continue its dominance over the forecast period. The region is home to some of the major shipbuilding hubs, such as China, South Korea, Japan and India. Increasing demand for cruise ships in Asia Pacific has resulted in an increased requirement for generators on board these vessels. In addition, rising military expenditure by countries such as China and India are driving demand from defense vessels which require advanced power systems on board their ships.
Europe accounted for a significant share of revenue share in 2017 owing to stringent regulations regarding carbon emissions by governments across Europe have resulted in increased sales of hybrid-fuelled gensets that consume less fuel per unit output than their diesel counterparts while providing similar or superior performance under strict environmental conditions compared with gas-fuelled units generator sets.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Proliferation of electric vehicles which require charging from gensets, thereby driving up demand for marine gensets
- Stringent environmental regulations worldwide that promote the use of low-emission marine gensets
- Growing popularity of recreational boating and yachting, which is boosting demand for luxury marine vessels fitted with high-end generators
- Technological advancements that are making marine generators more efficient and reliable, thus increasing their adoption by boat owners
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Gensets Market Research Report
By Type
Diesel Fuel, Gas Fuel, Hybrid Fue
By Application
Merchant Ships, Ocean Vessel, Defense Ship, Other
By Companies
Cummins, Caterpillar, Man Diesel & Turbo, Valley Power Systems, Volvo, Kohler, Deutz, ABB, Wartsila, Dresser Rand, Daihatsudiesel, Rolls-Royce Power System, Sole Diesel
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Marine Gensets Market Report Segments:
The global Marine Gensets market is segmented on the basis of:
Types
Diesel Fuel, Gas Fuel, Hybrid Fue
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Merchant Ships, Ocean Vessel, Defense Ship, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cummins
- Caterpillar
- Man Diesel & Turbo
- Valley Power Systems
- Volvo
- Kohler
- Deutz
- ABB
- Wartsila
- Dresser Rand
- Daihatsudiesel
- Rolls-Royce Power System
- Sole Diesel
Highlights of The Marine Gensets Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Diesel Fuel
- Gas Fuel
- Hybrid Fue
- By Application:
- Merchant Ships
- Ocean Vessel
- Defense Ship
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine Gensets Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Marine Gensets are a type of marine engine that can be used to generate power. They are typically used in boats and ships, and can be used to power things like generators, pumps, and other equipment. Marine gensets typically have a longer lifespan than other types of engines, which means they may last for many years without needing to be replaced.
Some of the major players in the marine gensets market are Cummins, Caterpillar, Man Diesel & Turbo, Valley Power Systems, Volvo, Kohler, Deutz, ABB, Wartsila, Dresser Rand, Daihatsudiesel, Rolls-Royce Power System, Sole Diesel.
The marine gensets market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Marine Gensets Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Marine Gensets Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Marine Gensets Market - Supply Chain
4.5. Global Marine Gensets Market Forecast
4.5.1. Marine Gensets Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Marine Gensets Market Size (000 Units) and Y-o-Y Growth
4.5.3. Marine Gensets Market Absolute $ Opportunity
5. Global Marine Gensets Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Marine Gensets Market Size and Volume Forecast by Type
5.3.1. Diesel Fuel
5.3.2. Gas Fuel
5.3.3. Hybrid Fue
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Marine Gensets Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Marine Gensets Market Size and Volume Forecast by Application
6.3.1. Merchant Ships
6.3.2. Ocean Vessel
6.3.3. Defense Ship
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Marine Gensets Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Marine Gensets Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Marine Gensets Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Marine Gensets Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Marine Gensets Demand Share Forecast, 2019-2026
9. North America Marine Gensets Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Marine Gensets Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Marine Gensets Market Size and Volume Forecast by Application
9.4.1. Merchant Ships
9.4.2. Ocean Vessel
9.4.3. Defense Ship
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Marine Gensets Market Size and Volume Forecast by Type
9.7.1. Diesel Fuel
9.7.2. Gas Fuel
9.7.3. Hybrid Fue
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Marine Gensets Demand Share Forecast, 2019-2026
10. Latin America Marine Gensets Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Marine Gensets Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Marine Gensets Market Size and Volume Forecast by Application
10.4.1. Merchant Ships
10.4.2. Ocean Vessel
10.4.3. Defense Ship
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Marine Gensets Market Size and Volume Forecast by Type
10.7.1. Diesel Fuel
10.7.2. Gas Fuel
10.7.3. Hybrid Fue
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Marine Gensets Demand Share Forecast, 2019-2026
11. Europe Marine Gensets Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Marine Gensets Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Marine Gensets Market Size and Volume Forecast by Application
11.4.1. Merchant Ships
11.4.2. Ocean Vessel
11.4.3. Defense Ship
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Marine Gensets Market Size and Volume Forecast by Type
11.7.1. Diesel Fuel
11.7.2. Gas Fuel
11.7.3. Hybrid Fue
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Marine Gensets Demand Share, 2019-2026
12. Asia Pacific Marine Gensets Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Marine Gensets Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Marine Gensets Market Size and Volume Forecast by Application
12.4.1. Merchant Ships
12.4.2. Ocean Vessel
12.4.3. Defense Ship
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Marine Gensets Market Size and Volume Forecast by Type
12.7.1. Diesel Fuel
12.7.2. Gas Fuel
12.7.3. Hybrid Fue
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Marine Gensets Demand Share, 2019-2026
13. Middle East & Africa Marine Gensets Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Marine Gensets Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Marine Gensets Market Size and Volume Forecast by Application
13.4.1. Merchant Ships
13.4.2. Ocean Vessel
13.4.3. Defense Ship
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Marine Gensets Market Size and Volume Forecast by Type
13.7.1. Diesel Fuel
13.7.2. Gas Fuel
13.7.3. Hybrid Fue
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Marine Gensets Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Marine Gensets Market: Market Share Analysis
14.2. Marine Gensets Distributors and Customers
14.3. Marine Gensets Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Cummins
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Caterpillar
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Man Diesel & Turbo
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Valley Power Systems
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Volvo
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Kohler
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Deutz
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. ABB
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Wartsila
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Dresser Rand
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Daihatsudiesel
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Rolls-Royce Power System
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Sole Diesel
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
