Marine Propulsion Engine Market (By Power Source: Gas Turbine, Steam Turbine, Diesel, Natural Gas and Others; By Ship Type; By Geography) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024
発行: Variant Market Research LLP
ページ情報: 英文 121 Pages
Marine Propulsion Engine Market
(By Power Source: Gas Turbine, Steam Turbine, Diesel, Natural Gas and Others; By Ship Type: Passenger Ships, Cargo Ships, Bulk Carrier, Tanker, Offshore Vessels, and Others; By Geography) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024.
Global Marine Propulsion Engine Market is estimated to reach $15 billion by 2024; growing at a CAGR of 4.6% between 2016 and 2024. Marine propulsion engine produces thrust to maneuver the ships across the water. Lot of efforts are being done to modernize the propulsion engine that would ensure the safety of marine ecosystem along with cost effectiveness. Diesel is the most widespread marine movers. However, liquefied natural gas (LNG) has also gained popularity owing to its low emission and cost advantage as compared to the diesel engines. Various environmental regulations have been introduced to mitigate the side effects and climate change. Majority of manufactures are exploring alternative sources to find sustainable solutions that would make the shipping industry safe, pollution-free and a reliable source of transport.
Some of the major drivers of global marine propulsion engine market are rapid innovations, rising demand for crude oil along with rising emphasis on renewable energy sourcing due to the exhaustion of conventional reserves. Though, high investment cost and increasing greenhouse gas emission & marine contaminations may restrain the growth of the market. Increasing defense budget and innovations such as biofuel and synthetic fuel would provide growth opportunities during forecast period.
The global marine propulsion engine market is characterized on the basis of power source, ship type and geography. By power source, the market is segmented into steam turbine, diesel, gas turbines, natural gas and others. Furthermore, ship type segment includes tanker, bulk carrier, cargo ship, offshore vessels, passenger ship and others.
North America, Europe, Asia-Pacific and rest of the world are the key geographical segments of the market. The U.S., Canada and Mexico are covered under North America wherein Europe covers Germany, UK, Italy, Norway and others. Asia-Pacific covers China, Japan, South Korea and others. RoW covers South America, Middle East and Africa.
Key players in the market include Scania, Yanmar Co. Ltd., Caterpillar, Rolls-Royce plc., Cummins, Inc., Wartsila, Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries, Ltd., MAN Diesel & Turbo, and Daihatsu Diesel Mfg. Co. Ltd., among others.