Market Overview:
The global marine LNG engine market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for LNG as a fuel source for maritime vessels, owing to its low emissions and environmental benefits. Additionally, the growing popularity of cruise ships is also expected to drive the demand for marine LNG engines in the coming years. The global marine LNG engine market can be segmented on the basis of type into dual-fuel marine engines and LNG fuel marine engines. Dual-fuel Marine Engines are those that can run on either diesel or gas, while an LNG Fuel Marine Engine runs exclusively on liquefied natural gas (LNG). On the basis of application,the market can be segmented into cargo ships, cruise ships and other vessels such as ferries and tugboats.
Product Definition:
A marine LNG engine is a type of gas engine that uses liquefied natural gas (LNG) as its fuel. These engines are becoming increasingly popular in the maritime industry, as they offer many benefits over traditional diesel engines. Some of these benefits include lower emissions, decreased noise levels, and improved fuel efficiency.
Dual-Fuel Marine Engine:
The dual-fuel marine engine is a type of marine diesel engine that can run on both gas and diesel. It has witnessed an upsurge in demand over the past few years owing to several advantages such as reduced emissions, less fuel consumption, and easy start up. The global market for dual-fuel (DFME) engines in LNG vessels is expected to grow at a significant rate over the forecast period.
LNG fuel Marine Engine:
LNG fuel marine engine is used in LNG fuelled marine vessels which are propelled by gas turbines. The working principle of these engines is very simple, it consists of two parts namely; the combustion chamber and turbine section. The fuel comes into contact with the turbine blades and then gets transformed into high speed energy.
Application Insights:
The cargo ship application segment led the market and accounted for more than 45.0% share of the global revenue in 2017. The growth can be attributed to increasing demand for LNG-powered vessels to replace coal-fired ships, which have been proven to be a harmful and expensive practice over the past few years.
LNG fuel engines are considered as a clean energy source as they produce lower levels of emissions when compared with other fuels such as diesel or petrol, which has resulted in growing demand from cruise ships across the world. A large number of passenger cruise liners were built during World War II by various countries including Germany, France, UK and Spain due to increased tourism activities across these nations. Most notable among these is MSDP Amsterdam owned by Princess Cruises that was completed in 2015 and has an overall length of 590 feet; breadth 52 feet; height 85 feet; deadweight capacity 3,500 tons; gross tonnage 394.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has emerged as a key hub for shipbuilding, owing to low labor costs and easy availability of land. China holds majority of shares in this industry due to large number of shipbuilding projects undertaken by Chinese government. In addition, increasing trade activities with U.S.
Growth Factors:
- Increasing demand for marine transportation: The global seaborne trade has been growing at a CAGR of around 4% in the past few years and is expected to grow further in the coming years, driven by the growth of global trade and increasing demand from emerging economies. This is expected to result in an increase in demand for marine engines.
- Stringent environmental regulations: Governments across the world are increasingly implementing stringent environmental regulations governing emissions from ships, which is resulting in an increase in adoption of LNG-powered ships. This is driving growth of the Marine LNG Engine market.
- Technological advancements: The Marine LNG Engine market is witnessing rapid technological advancements, with manufacturers introducing new technologies such as dual fuel engines that run on both diesel and natural gas, thereby reducing emissions and improving fuel efficiency. This is helping to drive market growth.
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine LNG Engine Market Research Report
By Type
Dual-Fuel Marine Engine, LNG fuel Marine Engine
By Application
Cargo Ship, Cruise Ship, Others
By Companies
Rolls-Royce, Weichai, Yuchai, MAN, Wartsila, Zichai, Caterpillar, Yanmar, GE, Daihatsu 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
228
Number of Tables & Figures
160
Customization Available
Yes, the report can be customized as per your need.
Global Marine LNG Engine Market Report Segments:
The global Marine LNG Engine market is segmented on the basis of:
Types
Dual-Fuel Marine Engine, LNG fuel Marine Engine
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
Cargo Ship, Cruise Ship, 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:
- Rolls-Royce
- Weichai
- Yuchai
- MAN
- Wartsila
- Zichai
- Caterpillar
- Yanmar
- GE
- Daihatsu Diesel
Highlights of The Marine LNG 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:
- Dual-Fuel Marine Engine
- LNG fuel Marine Engine
- By Application:
- Cargo Ship
- Cruise Ship
- 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 LNG 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
- 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?
A marine LNG engine is a type of gas turbine engine that is used to power ships and boats. These engines are typically smaller and more efficient than traditional diesel engines, making them a popular choice for vessels that need to travel long distances or operate in harsh environments. Marine LNG engines are also relatively new technology, so they are still being developed and improved upon.
Some of the major players in the marine lng engine market are Rolls-Royce, Weichai, Yuchai, MAN, Wartsila, Zichai, Caterpillar, Yanmar, GE, Daihatsu Diesel.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine LNG 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 LNG Engine Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine LNG 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 LNG 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 LNG Engine Market Size & Forecast, 2018-2028
4.5.1 Marine LNG Engine Market Size and Y-o-Y Growth
4.5.2 Marine LNG Engine Market Absolute $ Opportunity
Chapter 5 Global Marine LNG Engine 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 Marine LNG Engine Market Size Forecast by Type
5.2.1 Dual-Fuel Marine Engine
5.2.2 LNG fuel Marine Engine
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine LNG Engine 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 Marine LNG Engine Market Size Forecast by Applications
6.2.1 Cargo Ship
6.2.2 Cruise Ship
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine LNG 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 LNG 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 Marine LNG Engine Analysis and Forecast
9.1 Introduction
9.2 North America Marine LNG Engine 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 Marine LNG Engine Market Size Forecast by Type
9.6.1 Dual-Fuel Marine Engine
9.6.2 LNG fuel Marine Engine
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 Marine LNG Engine Market Size Forecast by Applications
9.10.1 Cargo Ship
9.10.2 Cruise Ship
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 Marine LNG Engine Analysis and Forecast
10.1 Introduction
10.2 Europe Marine LNG Engine 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 Marine LNG Engine Market Size Forecast by Type
10.6.1 Dual-Fuel Marine Engine
10.6.2 LNG fuel Marine Engine
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 Marine LNG Engine Market Size Forecast by Applications
10.10.1 Cargo Ship
10.10.2 Cruise Ship
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 Marine LNG Engine Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine LNG Engine 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 Marine LNG Engine Market Size Forecast by Type
11.6.1 Dual-Fuel Marine Engine
11.6.2 LNG fuel Marine Engine
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 Marine LNG Engine Market Size Forecast by Applications
11.10.1 Cargo Ship
11.10.2 Cruise Ship
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 Marine LNG Engine Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine LNG Engine 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 Marine LNG Engine Market Size Forecast by Type
12.6.1 Dual-Fuel Marine Engine
12.6.2 LNG fuel Marine Engine
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 Marine LNG Engine Market Size Forecast by Applications
12.10.1 Cargo Ship
12.10.2 Cruise Ship
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) Marine LNG Engine Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine LNG Engine 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) Marine LNG Engine Market Size Forecast by Type
13.6.1 Dual-Fuel Marine Engine
13.6.2 LNG fuel Marine Engine
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) Marine LNG Engine Market Size Forecast by Applications
13.10.1 Cargo Ship
13.10.2 Cruise Ship
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 LNG Engine Market: Competitive Dashboard
14.2 Global Marine LNG Engine Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Rolls-Royce
14.3.2 Weichai
14.3.3 Yuchai
14.3.4 MAN
14.3.5 Wartsila
14.3.6 Zichai
14.3.7 Caterpillar
14.3.8 Yanmar
14.3.9 GE
14.3.10 Daihatsu Diesel
