Marine Propulsion Engine Market - Growth, Trends, and Forecasts (2020 - 2025)
|発行||Mordor Intelligence LLP||商品コード||938007|
|出版日||ページ情報||英文 60 Pages
|船舶用推進エンジン市場-成長、動向、予測（2020年～2025年） Marine Propulsion Engine Market - Growth, Trends, and Forecasts (2020 - 2025)|
|出版日: 2020年05月01日||ページ情報: 英文 60 Pages||
The Marine Propulsion Engine Market is expected to register a CAGR of 3.5%, during the forecast period, 2020 - 2025.
IMO 2020 compliant fuels, alternate fuels and electrifications
IMO 2020 requires ship fuels to have Sulphur content reduced from 3.5% to 0.5%. This will make ships to switch to low Sulphur alternatives such as Marine Gas Oil (0.1% to 1% Sulphur content), Marine Diesel Oil (0.1% to 1.5% Sulphur content), Low Sulphur Fuel Oils (0.50% VLSFO & 0.10% ULSFO).
Methanol can be used as an alternative fuel in ships having dual engines. Methanol amounts to nearly 0% SOx emissions but produces high amount of greenhouse gases. Methanol is a corrosive fuel and occupies more space for storage due to low energy content. Methanol holds a good future opportunity in short range shipping, passenger and ferries segment.
Liquefied Natural Gas (LNG) is another prominent alternative fuel that produces 85% to 90% less NOx explosion, negligible Sulphur emissions and almost 20% less carbon dioxide emissions. LNG gas only engines can be more fuel efficient and cleaner by the use of modern 2 stroke engine technology. Currently there are 137 LNG powered ships in the world. The growth is hindered by lack of bunkering infrastructure for LNG ships. Hydrogen is another fuel that can be a game changer due to its low emissions and technical feasibility with engines.
In 2018, Rolls Royce Holdings began offering its own battery-powered ship engines in a move to meet the upcoming demand from all-electric vessels. While the maritime demand for lithium-ion batteries is focused on providing top-up power for traditional diesel and gas-turbine ships, the technology can propel fully electric craft over a limited range.
China is simultaneously working on commercializing all electric ships. In 2018, it was unveiled that all electric cargo ships were able to carry 2,200 metric ton of cargo with every haul. The distance covered was 50 miles, travelling at a top speed of 8 miles per hour on a single charge. In mid-November, China State Shipbuilding corp delivered Junlyu, country's first all-electric passenger ship with a displacement of 410 metric tonnes.
Asia-Pacific - Leading the Market
The Asia-Pacific region holds the largest market share in the marine propulsion engine market, and it is anticipated to maintain its dominance throughout the forecast period. Asia-Pacific has some of the fastest growing economies in the world such as India, Bangladesh and China. These countries lead the world in exports of mineral fuels, electronics, pharmaceuticals, jute, machinery and automobiles. There are large number of OEMs present in the area due to low cost of labor and increasing demand for commodities.
China's ambitious One Belt One Road initiative will open new trade routes with existing geographies in Africa and South America and increase the transit rate from China to different countries. Currently there is shipment of 26.57 million TEU (Twenty-foot equivalent) between Asia and North America and 15.1 million TEUs between Asia and North Europe. These figures are expected to rise during the forecast period.
China is rigorously grooming an autonomous fleet and started building a huge test field for autonomous ships off the South China Sea, coast of Guangdong province, in the first quarter of 2018. A logistics firm under the Hainan province-based conglomerate HNA Group has set up an unmanned cargo ship development alliance to advance autonomous shipping.
In order to compete within the autonomous technology space in China, European developers are working on a similar technology and are planning to commercialize it by 2030. Maritime engineering firm, MacGregor, and engine maker, Rolls-Royce, signed a MoU in 2017 to explore the ways that autonomous technology can help ship navigation and cargo systems on container ships.
Some of the major players in the market include Caterpillar, MAN Diesel & Turbo, Rolls-Royce, Mitsubishi Heavy Industries, Cummins, Wartsila, and Hyundai Heavy Industries.