Market Overview:
The global marine dual fuel 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 low-emission and fuel-efficient engines, especially in developed countries such as Europe and North America. In addition, stringent environmental regulations are also driving the demand for dual fuel engines in these regions. The two-stroke dual fuel engine segment is expected to grow at a higher CAGR than the four-stroke dual fuel engine segment during the forecast period from 2018 to 2030. This can be attributed to their high efficiency and low emissions as compared with four-stroke diesel engines.
Product Definition:
A marine dual fuel engine is an engine that can run on two different types of fuels, such as gasoline and diesel. This type of engine is important for boats because it allows them to switch between fuels depending on what is available. For example, if a boat runs out of diesel fuel, it can switch to gasoline and continue its journey.
Four-Stroke Dual Fuel Engine:
The four-stroke dual fuel engine is a type of marine diesel engine that uses two fuels, such as gasoline and oil. The first fuel is used to power the air compressor which enables the second one to enter in direct contact with the crankshaft. This configuration helps in reducing emissions and increases efficiency by avoiding re-ignition of combustion processes between cycles.
Two-Stroke Dual Fuel Engine:
The two-stroke dual fuel engine is a type of marine diesel engine which can run on both oil and gas simultaneously. It has the ability to burn either heavy or light distillate oils, i.e., diesel oil or gasoline, depending upon the need for the particular application at that time. The two-stroke dual fuel engines are primarily used in outboard motors as they provide better performance when operating on a mixture of fuels than conventional outboards with only one type of fuel option.
Application Insights:
The others segment includes vessels that are used for commercial purposes other than cruise and cargo ships. The application of the engines in these vessels is limited to coastal waters due to higher maintenance cost involved. These types of vessel include tugs, barges, ferries and coastal defense ships.
Cargo ship was the largest revenue generating segment in 2017 owing to increase in demand from China, Japan and South Korea among other countries. Cargo ships use a wide range of fuels including diesel fuel oil (DFO) which is highly preferred by marine engines as it has a lower sulfur content compared DFMO which contains around 0.5% sulfur by weight as against 10% for gas oil or fuel oil with low sulfur content respectively).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of ports, which facilitate easy access of goods for consumers, thereby driving the demand for efficient marine engines. China is one of the largest markets in this region owing to increasing investments in port infrastructure and favorable government policies encouraging domestic manufacturing activities.
North America emerged as a prominent regional market with U.S., being at the forefront. Growing emphasis on reducing carbon footprint by adopting cleaner fuel options such as biodiesel is expected to drive growth over next eight years or so until 2030 when compared with other fossil fuels such as diesel and gasoline oil (petroleum). In addition, growing recreational boating sector across U.S., Canada, and Mexico will further boost product demand during forecast period from 2018 to 2030 (USD X trillion per year).
Growth Factors:
- Increasing demand for marine dual fuel engines from the commercial sector on account of stringent environmental regulations and rising fuel costs
- Proliferation of LNG as a marine fuel due to its lower emissions and environmental benefits over traditional fuels such as diesel
- Development of new engine technologies that enable the use of multiple fuels, including LNG, reducing the overall cost of ownership for ship operators
- Growing popularity of hybrid propulsion systems that combine traditional diesel engines with electric motors, providing improved efficiency and reduced emissions
- Increased investment in port infrastructure and development projects to support the growth in maritime trade
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Dual Fuel Engine Market Research Report
By Type
Four-Stroke Dual Fuel Engine, Two-Stroke Dual Fuel Engine
By Application
Cargo Ship, Cruise Ship, Others
By Companies
Caterpillar, Wartsila, Hyundai, MAN, Yanmar, Cummins, Rolls-Royce, Kawasaki
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
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Marine Dual Fuel Engine Market Report Segments:
The global Marine Dual Fuel Engine market is segmented on the basis of:
Types
Four-Stroke Dual Fuel Engine, Two-Stroke Dual Fuel 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:
- Caterpillar
- Wartsila
- Hyundai
- MAN
- Yanmar
- Cummins
- Rolls-Royce
- Kawasaki
Highlights of The Marine Dual Fuel 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:
- Four-Stroke Dual Fuel Engine
- Two-Stroke Dual Fuel 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 Dual Fuel 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 Dual Fuel Engine is a type of engine that can run on both gasoline and diesel fuel. This allows the engine to be more versatile, as it can operate in a variety of environments.
Some of the major companies in the marine dual fuel engine market are Caterpillar, Wartsila, Hyundai, MAN, Yanmar, Cummins, Rolls-Royce, Kawasaki.
The marine dual fuel engine 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 Dual Fuel Engine 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 Dual Fuel Engine Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Marine Dual Fuel Engine Market - Supply Chain
4.5. Global Marine Dual Fuel Engine Market Forecast
4.5.1. Marine Dual Fuel Engine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Marine Dual Fuel Engine Market Size (000 Units) and Y-o-Y Growth
4.5.3. Marine Dual Fuel Engine Market Absolute $ Opportunity
5. Global Marine Dual Fuel Engine 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 Dual Fuel Engine Market Size and Volume Forecast by Type
5.3.1. Four-Stroke Dual Fuel Engine
5.3.2. Two-Stroke Dual Fuel Engine
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Marine Dual Fuel Engine 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 Dual Fuel Engine Market Size and Volume Forecast by Application
6.3.1. Cargo Ship
6.3.2. Cruise Ship
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Marine Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine Demand Share Forecast, 2019-2026
9. North America Marine Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine Market Size and Volume Forecast by Application
9.4.1. Cargo Ship
9.4.2. Cruise Ship
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Marine Dual Fuel Engine Market Size and Volume Forecast by Type
9.7.1. Four-Stroke Dual Fuel Engine
9.7.2. Two-Stroke Dual Fuel Engine
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 Dual Fuel Engine Demand Share Forecast, 2019-2026
10. Latin America Marine Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine Market Size and Volume Forecast by Application
10.4.1. Cargo Ship
10.4.2. Cruise Ship
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Marine Dual Fuel Engine Market Size and Volume Forecast by Type
10.7.1. Four-Stroke Dual Fuel Engine
10.7.2. Two-Stroke Dual Fuel Engine
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 Dual Fuel Engine Demand Share Forecast, 2019-2026
11. Europe Marine Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine Market Size and Volume Forecast by Application
11.4.1. Cargo Ship
11.4.2. Cruise Ship
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Marine Dual Fuel Engine Market Size and Volume Forecast by Type
11.7.1. Four-Stroke Dual Fuel Engine
11.7.2. Two-Stroke Dual Fuel Engine
11.8. Basis Point Share (BPS) Analyss 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 Dual Fuel Engine Demand Share, 2019-2026
12. Asia Pacific Marine Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine Market Size and Volume Forecast by Application
12.4.1. Cargo Ship
12.4.2. Cruise Ship
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Marine Dual Fuel Engine Market Size and Volume Forecast by Type
12.7.1. Four-Stroke Dual Fuel Engine
12.7.2. Two-Stroke Dual Fuel Engine
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 Dual Fuel Engine Demand Share, 2019-2026
13. Middle East & Africa Marine Dual Fuel Engine 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 Dual Fuel Engine 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 Dual Fuel Engine Market Size and Volume Forecast by Application
13.4.1. Cargo Ship
13.4.2. Cruise Ship
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Marine Dual Fuel Engine Market Size and Volume Forecast by Type
13.7.1. Four-Stroke Dual Fuel Engine
13.7.2. Two-Stroke Dual Fuel Engine
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 Dual Fuel Engine Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Marine Dual Fuel Engine Market: Market Share Analysis
14.2. Marine Dual Fuel Engine Distributors and Customers
14.3. Marine Dual Fuel Engine Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Caterpillar
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Wartsila
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Hyundai
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. MAN
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Yanmar
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Cummins
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Rolls-Royce
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Kawasaki
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
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
