Market Overview:
The global marine 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 maritime transportation and rising military expenditure across the globe. In terms of type, diesel engines are expected to dominate the market during the forecast period, followed by gas turbine engines and steam turbine engines. Transport vessels are expected to be the largest application segment in terms of value during 2018-2030, followed by working vessels and military vessels.
Product Definition:
A marine engine is a propulsion system for boats and ships, typically consisting of an internal combustion engine with an attached propeller. Marine engines are used to power vessels ranging in size from small pleasure craft to large oceangoing merchant ships.
Diesel Engine:
Diesel engines are used in marine vessels for propulsion purposes. They are primarily used to generate electricity through the steam engine, which is later converted into mechanical energy to drive the vessel’s propeller or motor. The diesel engine has a wide range of applications in commercial and passenger ships, ferries, inland waterway craft and yachts among others.
The growth of shipbuilding industry coupled with technological advancements such as introduction of hybrid electric ships that use both diesel-electric.
Gas Turbine Engine:
A gas turbine engine (GTE) is an internal combustion engine, which uses the fuel to provide energy to turn a crankshaft. The prime benefit of GTEs is that there are no moving parts, so it has less wear and tear problems. It also does not require a large space as it can be installed in small spaces like boats or ships.
Application Insights:
The working vessel application segment led the global marine engine market in 2017 and is projected to witness significant growth over the forecast period. The segment will expand at a CAGR of XX% from 2018 to 2030 owing to rising demand for oil & gas exploration and production vessels, support vessels, deep-water drilling ships and other such vessels.
Transport vessel application segment accounted for more than 40% share of the total revenue in 2017 on account of growing use in intra-state transport, passenger travel as well as commercial services across countries including China, India Japan among others. In addition, diesel engines are widely used on account of their ability to provide high power with low fuel consumption which helps reduce operating costs significantly over comparison with gas turbine engines or steam turbines counterparts respectively.
Regional Analysis:
Asia Pacific dominated the global marine engine market in 2016 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 35% in 2016 owing to increasing demand from China, India, South Korea, Japan and Indonesia. Asia Pacific is projected to be one of the fastest-growing regions with a CAGR of XX% during the forecast period on account of rapid economic growth along with rising disposable income among consumers as well as industrial workers.
The rise in manufacturing activities due to low labor cost coupled with easy access to raw materials such as iron ore and coal has attracted many foreign investors toward this region which has resulted into high growth rate for this industry over last few years.
Europe was estimated at USD X billion in 2016.
Growth Factors:
- Increasing demand for marine engines from the commercial sector as a result of the growth in global trade and maritime transportation.
- The increasing popularity of recreational boating, which is resulting in higher demand for marine engines.
- The increasing number of luxury yachts and boats, which is also contributing to the growth in demand for marine engines.
- Technological advancements that are making marine engines more fuel-efficient and environmentally friendly, thereby boosting their adoption rates.
- Growing awareness about the benefits of using marine engines among boat owners and operators, which is helping to drive market growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Engine Market Research Report
By Type
Diesel Engine, Gas Turbine Engine, Steam Turbine Engine, Others
By Application
Transport vessels, Working vessel, Military vessel, Others
By Companies
CSIC, CSSC, Weichai, YUCHAI, Wartsila, SDEC, Cummins, RongAn Power, Zhongji Hitachi Zosen
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Marine Engine Market Report Segments:
The global Marine Engine market is segmented on the basis of:
Types
Diesel Engine, Gas Turbine Engine, Steam Turbine 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
Transport vessels, Working vessel, Military 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:
- CSIC
- CSSC
- Weichai
- YUCHAI
- Wartsila
- SDEC
- Cummins
- RongAn Power
- Zhongji Hitachi Zosen
Highlights of The Marine 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:
- Diesel Engine
- Gas Turbine Engine
- Steam Turbine Engine
- Others
- By Application:
- Transport vessels
- Working vessel
- Military 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 Marine 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 engine is a type of engine used in boats and ships. It is usually powered by gasoline, diesel, or oil.
Some of the key players operating in the marine engine market are CSIC, CSSC, Weichai, YUCHAI, Wartsila, SDEC, Cummins, RongAn Power, Zhongji Hitachi Zosen.
The marine engine market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Marine 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 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 Engine Market - Supply Chain
4.5. Global Marine Engine Market Forecast
4.5.1. Marine Engine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Marine Engine Market Size (000 Units) and Y-o-Y Growth
4.5.3. Marine Engine Market Absolute $ Opportunity
5. Global Marine 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 Engine Market Size and Volume Forecast by Type
5.3.1. Diesel Engine
5.3.2. Gas Turbine Engine
5.3.3. Steam Turbine Engine
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Marine 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 Engine Market Size and Volume Forecast by Application
6.3.1. Transport vessels
6.3.2. Working vessel
6.3.3. Military vessel
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Marine 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 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 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 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 Engine Demand Share Forecast, 2019-2026
9. North America Marine 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 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 Engine Market Size and Volume Forecast by Application
9.4.1. Transport vessels
9.4.2. Working vessel
9.4.3. Military vessel
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Marine Engine Market Size and Volume Forecast by Type
9.7.1. Diesel Engine
9.7.2. Gas Turbine Engine
9.7.3. Steam Turbine Engine
9.7.4. Others
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 Engine Demand Share Forecast, 2019-2026
10. Latin America Marine 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 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 Engine Market Size and Volume Forecast by Application
10.4.1. Transport vessels
10.4.2. Working vessel
10.4.3. Military vessel
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Marine Engine Market Size and Volume Forecast by Type
10.7.1. Diesel Engine
10.7.2. Gas Turbine Engine
10.7.3. Steam Turbine Engine
10.7.4. Others
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 Engine Demand Share Forecast, 2019-2026
11. Europe Marine 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 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 Engine Market Size and Volume Forecast by Application
11.4.1. Transport vessels
11.4.2. Working vessel
11.4.3. Military vessel
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Marine Engine Market Size and Volume Forecast by Type
11.7.1. Diesel Engine
11.7.2. Gas Turbine Engine
11.7.3. Steam Turbine Engine
11.7.4. Others
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 Engine Demand Share, 2019-2026
12. Asia Pacific Marine 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 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 Engine Market Size and Volume Forecast by Application
12.4.1. Transport vessels
12.4.2. Working vessel
12.4.3. Military vessel
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Marine Engine Market Size and Volume Forecast by Type
12.7.1. Diesel Engine
12.7.2. Gas Turbine Engine
12.7.3. Steam Turbine Engine
12.7.4. Others
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 Engine Demand Share, 2019-2026
13. Middle East & Africa Marine 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 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 Engine Market Size and Volume Forecast by Application
13.4.1. Transport vessels
13.4.2. Working vessel
13.4.3. Military vessel
13.4.4. 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 Engine Market Size and Volume Forecast by Type
13.7.1. Diesel Engine
13.7.2. Gas Turbine Engine
13.7.3. Steam Turbine Engine
13.7.4. Others
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 Engine Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Marine Engine Market: Market Share Analysis
14.2. Marine Engine Distributors and Customers
14.3. Marine Engine Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. CSIC
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. CSSC
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Weichai
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. YUCHAI
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Wartsila
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. SDEC
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Cummins
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. RongAn Power
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Zhongji Hitachi Zosen
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
