Market Overview:
The global maritime engine market is expected to grow at a CAGR of 5.5% 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. In terms of type, the below 5,000 kW segment is expected to dominate the market during the forecast period owing to its low cost and easy installation. However, with technological advancements, 10,000-20,000 kW engines are becoming more popular among end users as they offer high power output and efficiency.
Product Definition:
A maritime engine is a type of engine that is used in maritime vessels. These engines are typically diesel-powered and are used to power the vessel's propellers. Maritime engines are important because they provide the power necessary to move a vessel through the water.
Below 5,000 kW:
Below 5,000 kW (5KW-12KW) power range is expected to grow at a significant rate over the forecast period. This growth can be attributed to the need for propulsion in both commercial and naval vessels. The market is driven by technological advancements such as fuel injection systems and turbochargers that have resulted in improved efficiency of engines below 5,000 kW.
5,000 to 10,000 kW:
Marine engines are used in ships and boats for propulsion. They can be Gas-turbine, steam turbine or diesel engine based. The power output of the marine engines is measured in terms of kW (Kilo Watts). A 5,000 to 10,000 kW marine engine is a very large machine which can propel a ship or a boat with its propeller shaft. It has an electric motor as an auxiliary device for providing mechanical drive to the propeller shaft.
Application Insights:
The commercial vessel segment led the market and accounted for more than 54.0% share of the global revenue in 2017. The growth is attributed to an increase in demand for passenger ferries, cruise ships, freighters and other cargo vessels across various regions including Asia Pacific, North America and Europe. Furthermore, a rise in tourism is expected to boost maritime engine sales over the forecast period as many countries are building new luxury liners that will ply between major cities around the world.
The offshore support vessel (OSS) segment is anticipated to register significant growth over the forecast period owing to rising oil & gas production activities across various regions including Middle East & Africa and Latin America which require large number of support vessels for drilling operations at sea level waters or deep waters offshore.
Regional Analysis:
Asia Pacific is expected to register the highest CAGR of XX% during the forecast period, owing to rapid economic growth in China and India. The region has witnessed a significant rise in trade activities across various sectors such as transportation and logistics, tourism, food service providers, sports events management etc., thereby driving the demand for offshore support vessels.
Europe maritime engine market by country (U.K.
Growth Factors:
- Increasing demand for maritime transportation: The global maritime trade is expected to grow at a CAGR of 3.8% from 2016 to 2020, reaching a total volume of 10,521 million metric tons by 2020. This growth is primarily attributed to the increasing demand for maritime transportation from developing countries in Asia Pacific and the Middle East regions.
- Proliferation of new shipping technologies: The development of innovative shipping technologies such as containerization and roll-on/roll-off (RO/RO) has helped reduce the cost of maritime transport and increase its efficiency. These new technologies are expected to drive the growth of the Maritime Engine market in coming years.
- Stringent environmental regulations: Stringent environmental regulations aimed at reducing air pollution are encouraging vessel operators to switch from traditional diesel engines to more fuel-efficient engines such as LNG or electric propulsion systems. This is likely to boost the Maritime Engine market in coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Maritime Engine Market Research Report
By Type
Below 5,000 kW, 5,000 to 10,000 kW, 10,000 to 20,000 kW, Above 20,000 kW
By Application
Commerical Vessel, Offshore Support Vessel, Others
By Companies
Hyundai Heavy Industries, Caterpillar, Man SE, Mitsubishi Heavy Industries, Volvo Group, Wartsila, Deutz, Cummins, Rolls-Royce, John Deere, Hyundai Heavy Industries, GE Transportation
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
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Maritime Engine Market Report Segments:
The global Maritime Engine market is segmented on the basis of:
Types
Below 5,000 kW, 5,000 to 10,000 kW, 10,000 to 20,000 kW, Above 20,000 kW
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
Commerical Vessel, Offshore Support Vessel, 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:
- Hyundai Heavy Industries
- Caterpillar
- Man SE
- Mitsubishi Heavy Industries
- Volvo Group
- Wartsila
- Deutz
- Cummins
- Rolls-Royce
- John Deere
- Hyundai Heavy Industries
- GE Transportation
Highlights of The Maritime 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:
- Below 5,000 kW
- 5,000 to 10,000 kW
- 10,000 to 20,000 kW
- Above 20,000 kW
- By Application:
- Commerical Vessel
- Offshore Support Vessel
- 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 Maritime 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
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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?
Maritime Engine is a software development company that specializes in developing custom maritime applications. The company's clients include shipowners, shipping companies, and port authorities. Maritime Engine's products include navigation software, cargo tracking software, and marine data management systems.
Some of the major companies in the maritime engine market are Hyundai Heavy Industries, Caterpillar, Man SE, Mitsubishi Heavy Industries, Volvo Group, Wartsila, Deutz, Cummins, Rolls-Royce, John Deere, Hyundai Heavy Industries, GE Transportation.
The maritime 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 Maritime 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 Maritime Engine Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Maritime 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 Maritime 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 Maritime Engine Market Size & Forecast, 2018-2028
4.5.1 Maritime Engine Market Size and Y-o-Y Growth
4.5.2 Maritime Engine Market Absolute $ Opportunity
Chapter 5 Global Maritime 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 Maritime Engine Market Size Forecast by Type
5.2.1 Below 5
5.2.2 000 kW
5.2.3 5
5.2.4 000 to 10
5.2.5 000 kW
5.2.6 10
5.2.7 000 to 20
5.2.8 000 kW
5.2.9 Above 20
5.2.10 000 kW
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Maritime 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 Maritime Engine Market Size Forecast by Applications
6.2.1 Commerical Vessel
6.2.2 Offshore Support Vessel
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Maritime 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 Maritime 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 Maritime Engine Analysis and Forecast
9.1 Introduction
9.2 North America Maritime 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 Maritime Engine Market Size Forecast by Type
9.6.1 Below 5
9.6.2 000 kW
9.6.3 5
9.6.4 000 to 10
9.6.5 000 kW
9.6.6 10
9.6.7 000 to 20
9.6.8 000 kW
9.6.9 Above 20
9.6.10 000 kW
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 Maritime Engine Market Size Forecast by Applications
9.10.1 Commerical Vessel
9.10.2 Offshore Support Vessel
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 Maritime Engine Analysis and Forecast
10.1 Introduction
10.2 Europe Maritime 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 Maritime Engine Market Size Forecast by Type
10.6.1 Below 5
10.6.2 000 kW
10.6.3 5
10.6.4 000 to 10
10.6.5 000 kW
10.6.6 10
10.6.7 000 to 20
10.6.8 000 kW
10.6.9 Above 20
10.6.10 000 kW
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 Maritime Engine Market Size Forecast by Applications
10.10.1 Commerical Vessel
10.10.2 Offshore Support Vessel
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 Maritime Engine Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Maritime 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 Maritime Engine Market Size Forecast by Type
11.6.1 Below 5
11.6.2 000 kW
11.6.3 5
11.6.4 000 to 10
11.6.5 000 kW
11.6.6 10
11.6.7 000 to 20
11.6.8 000 kW
11.6.9 Above 20
11.6.10 000 kW
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 Maritime Engine Market Size Forecast by Applications
11.10.1 Commerical Vessel
11.10.2 Offshore Support Vessel
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 Maritime Engine Analysis and Forecast
12.1 Introduction
12.2 Latin America Maritime 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 Maritime Engine Market Size Forecast by Type
12.6.1 Below 5
12.6.2 000 kW
12.6.3 5
12.6.4 000 to 10
12.6.5 000 kW
12.6.6 10
12.6.7 000 to 20
12.6.8 000 kW
12.6.9 Above 20
12.6.10 000 kW
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 Maritime Engine Market Size Forecast by Applications
12.10.1 Commerical Vessel
12.10.2 Offshore Support Vessel
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) Maritime Engine Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Maritime 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) Maritime Engine Market Size Forecast by Type
13.6.1 Below 5
13.6.2 000 kW
13.6.3 5
13.6.4 000 to 10
13.6.5 000 kW
13.6.6 10
13.6.7 000 to 20
13.6.8 000 kW
13.6.9 Above 20
13.6.10 000 kW
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) Maritime Engine Market Size Forecast by Applications
13.10.1 Commerical Vessel
13.10.2 Offshore Support Vessel
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 Maritime Engine Market: Competitive Dashboard
14.2 Global Maritime Engine Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hyundai Heavy Industries
14.3.2 Caterpillar
14.3.3 Man SE
14.3.4 Mitsubishi Heavy Industries
14.3.5 Volvo Group
14.3.6 Wartsila
14.3.7 Deutz
14.3.8 Cummins
14.3.9 Rolls-Royce
14.3.10 John Deere
14.3.11 Hyundai Heavy Industries
14.3.12 GE Transportation
