Market Overview:
The global marine gas engine 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 commercial vessels and offshore support vessels across the globe. Additionally, factors such as rising fuel prices and stringent environmental regulations are also contributing to the growth of this market. The marine gas engine market is segmented on the basis of type into CNG gas engines, LNG gas engines, and others. The CNG gas engine segment is expected to hold a major share in terms of revenue in 2018 owing to its high efficiency and low emissions as compared to other types of marine gas engines available in the market.
Product Definition:
A marine gas engine is a gasoline-powered engine that is used to power boats and ships. These engines are typically more powerful than diesel engines, making them well-suited for larger vessels. Marine gas engines are important for powering boats and ships, as they provide a reliable source of propulsion that can be used in a variety of applications.
CNG Gas Engine:
Natural Gas (NG) is extensively used as fuel in internal combustion engines. It is produced by the fractional distillation process, which involves the separation of liquid petroleum gas (LPG) at atmospheric pressure and temperature. Natural gas has a lower energy content than other fossil fuels; however, it has a high calorific value and thus makes an excellent fuel for use in heat engines or boilers that operate at a constant pressure and temperature.
LNG Gas Engine:
LNG gas engine is a marine power generator that uses liquefied natural gas as a fuel. It is an alternative to diesel engines and produces less harmful emissions at the same time. LNG engines are used in medium speed vessels up to about 40,000 dead weight tons such as container ships, cruise ships, ferries, tugs and barges among others.
Application Insights:
The commercial vessels segment accounted for the largest revenue share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing use of gas engines in large passenger ships, cruise ships and ferries as they offer several advantages including reduced emissions, improved fuel economy and reduced operating cost.
Commercial vessels are majorly deployed in North America region where there is ample supply of natural gas resources along with high demand from power generation plants which fuels the growth further. However, aftermath of COVID-19 crisis may hinder market growth over next few years as many countries have suspended or postponed plans for new marine diesel or gasoline engine vessel orders till 2020 end thus affecting overall industry volume towards mid-term perspective.
Offshore support vessels are used on oil & gas platforms that need constant patrolling throughout the year to ensure safety for workers involved in maintenance & exploration activities on offshore oil rigs & platforms.
Regional Analysis:
Asia Pacific dominated the global marine gas engine market in terms of revenue with a share of over 60% in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for LNG and CNG fueled vehicles. Increasing number of projects involving implementation of LNG engines is also anticipated to drive regional growth. For instance, Hyundai Heavy Industries launched a new generation liquefied natural gas (LNG) engine for vessels operating across various industries such as offshore support vessels, fishing boats and coastal ships among others.
Europe accounted for more than 20% share in 2017 owing to rising adoption by commercial vessels including cruise ships and ferries along with offshore support vessels including drilling platforms and supply ships among others across countries such as U.K.
Growth Factors:
- Increasing demand for marine gas engines from the commercial sector as a result of the growth in global trade and maritime activities.
- The increasing popularity of LNG as a marine fuel due to its lower emissions and environmental benefits is expected to drive the market for marine gas engines over the forecast period.
- Stringent regulations on emissions from shipping vessels are expected to promote the adoption of marine gas engines, which are more environmentally friendly than diesel-powered engines.
- The increasing demand for high-efficiency and low-emission propulsion systems for merchant ships is anticipated to boost the market growth for marine gas engines during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Gas Engine Market Research Report
By Type
CNG Gas Engine, LNG Gas Engine, Others
By Application
Commercial Vessels, Offshore Support Vessels, Others
By Companies
General Electric, Wartsila, Caterpillar, Rolls-Royce, MAN SE, Cummins, Deutz, CSIC, CSSC, Weichai, General Electric, Marine-Shanghai Diesel Engine, RongAn Power, Zhongji Hitachi Zosen, Mitsubishi, Yanmar, Daihatsu Diesel, Doosan, Scania
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
127
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global Marine Gas Engine Market Report Segments:
The global Marine Gas Engine market is segmented on the basis of:
Types
CNG Gas Engine, LNG Gas Engine, Others
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
Commercial Vessels, Offshore Support Vessels, Others
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:
- General Electric
- Wartsila
- Caterpillar
- Rolls-Royce
- MAN SE
- Cummins
- Deutz
- CSIC
- CSSC
- Weichai
- General Electric
- Marine-Shanghai Diesel Engine
- RongAn Power
- Zhongji Hitachi Zosen
- Mitsubishi
- Yanmar
- Daihatsu Diesel
- Doosan
- Scania
Highlights of The Marine Gas Engine 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:
- CNG Gas Engine
- LNG Gas Engine
- Others
- By Application:
- Commercial Vessels
- Offshore Support Vessels
- Others
- 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 Gas Engine 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
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- Understanding Competition Scenario
- Product & Brand Management
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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?
A marine gas engine is a type of internal combustion engine that is used in boats and ships. It uses compressed air or gas to power the pistons, which turns the propeller.
Some of the key players operating in the marine gas engine market are General Electric, Wartsila, Caterpillar, Rolls-Royce, MAN SE, Cummins, Deutz, CSIC, CSSC, Weichai, General Electric, Marine-Shanghai Diesel Engine, RongAn Power, Zhongji Hitachi Zosen, Mitsubishi, Yanmar, Daihatsu Diesel, Doosan, Scania.
The marine gas engine market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Gas Engine Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine Gas Engine Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Gas Engine Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine Gas Engine Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine Gas Engine Market Size & Forecast, 2020-2028
4.5.1 Marine Gas Engine Market Size and Y-o-Y Growth
4.5.2 Marine Gas Engine Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 CNG Gas Engine
5.2.2 LNG Gas Engine
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Vessels
6.2.2 Offshore Support Vessels
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Gas Engine Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine Gas Engine Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 CNG Gas Engine
9.6.2 LNG Gas Engine
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Vessels
9.10.2 Offshore Support Vessels
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 CNG Gas Engine
10.6.2 LNG Gas Engine
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Vessels
10.10.2 Offshore Support Vessels
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 CNG Gas Engine
11.6.2 LNG Gas Engine
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Vessels
11.10.2 Offshore Support Vessels
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 CNG Gas Engine
12.6.2 LNG Gas Engine
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Vessels
12.10.2 Offshore Support Vessels
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 CNG Gas Engine
13.6.2 LNG Gas Engine
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Vessels
13.10.2 Offshore Support Vessels
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine Gas Engine Market: Competitive Dashboard
14.2 Global Marine Gas Engine Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 General Electric
14.3.2 Wartsila
14.3.3 Caterpillar
14.3.4 Rolls-Royce
14.3.5 MAN SE
14.3.6 Cummins
14.3.7 Deutz
14.3.8 CSIC
14.3.9 CSSC
14.3.10 Weichai
14.3.11 General Electric
14.3.12 Marine-Shanghai Diesel Engine
14.3.13 RongAn Power
14.3.14 Zhongji Hitachi Zosen
14.3.15 Mitsubishi
14.3.16 Yanmar
14.3.17 Daihatsu Diesel
14.3.18 Doosan
14.3.19 Scania
