Global Dual Fuel Marine Engines Market by Type (Four-Stroke Dual-Fuel Engines, Two-Stroke Dual-Fuel Engines), By Application (Inland Vessel, Overseas Ship) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
The Global Dual-Fuel Marine Engine Market size is projected to grow at a CAGR of 5.42% during the forecast period (2019-2028) and reach an estimated value of USD X, XXX.XX million by 2028. The global dual-fuel marine engine market has been fragmented in terms of types, applications, and regions. The major factors driving this growth are increasing demand for green fuels, growing maritime trade industry that leads to increased fuel consumption per unit time, government initiatives on emission control management policies & regulations among others.
A dual-fuel marine engine is a type of internal combustion engine which allows for the use of more than one fuel source. It can be an alternative to diesel engines, allowing for lower emissions and greater efficiency when running on hydrogen or natural gas. Dual-fuel marine engines are a type of gas engine that can run on two different fuels. The most common use is to switch seamlessly between diesel and liquefied natural gas (LNG). LNG has one major advantage over traditional oil-based fuel: it burns cleaner, emitting 20 percent less carbon dioxide per unit of energy released than standard marine diesel.
On the basis of Type, the global dual-fuel marine engine market is segmented into Four-Stroke Dual-Fuel Engines and Two- Stroke dual-fuel engines.
Four-Stroke Dual-Fuel Engines:
Four-stroke Dual-Fuel engines are internal combustion engines powered by two different types of fuel. This helps in reducing the emission levels and increasing efficiency. They run on both diesel fuel and LNG or methane gas, which makes them more efficient in terms of their range per tank when compared to two-strokes. Four-stroke engines not only offer improved performance but also have higher power density than other types including two strokes that can be attributed to their low emissions levels while being cost-effective at the same time.
Two-Stroke Dual-Fuel Engines:
Two-stroke engines are combustion engines for internal or external combustion of the engine. Two strokes mean that there is one power stroke per two revolutions of the crankshaft, which means more vibration and higher fuel consumption. As a result, they have been replaced by four-stroke diesel engines in most applications. However, some types are still used in smaller modern equipment such as motorcycles, outboard motors, lawnmowers, and string trimmers. Two-stroke engines are lighter, more compact, and have higher power-to-weight ratios. Two-Stroke Dual Fuel Engines cost less compared to Four-Stroke Marine Diesel engines or Gasoline Outboard motors as they are made up of fewer parts.
On the basis of Application, the global dual-fuel marine engine market is segmented into Inland Vessel & Overseas Ship.
On the basis of Region, the global dual-fuel marine engine market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The Asia Pacific is projected to be the fastest-growing region, in terms of value and volume over the forecast period. The market is estimated to expand at a healthy CAGR during 2017-2028 owing to rapidly increasing shipbuilding activities across Asia Pacific countries such as China and India. The North American region is expected to have a lucrative growth in the market of dual-fuel marine engines. The major players operating in this region are Caterpillar Marine, MAN Diesel & Turbo SE, and Wärtsilä Corporation among others.
In the Middle East & Africa, the market of dual-fuel marine engines is relatively in its nascent stage. In 2018, a few companies have been operating in this region, and several others are expected to enter this market within the next five years. In the European market, Germany has been showing a positive attitude towards this technology. This is because of its potential to reduce carbon dioxide emissions from inland ships and vessels that operate in German waterways. Apart from these efforts by the government bodies, shipbuilders have also expressed their interest in developing new dual-fuel marine engines for both commercials as well as military crafts operating on water surfaces across Europe.
Growth Factors For The Global Dual-Fuel Marine Engine Market:
The major factors responsible for the growth of this market are:
A growing number of countries are investing in the development of offshore oil and gas resources, reducing dependency on diesel-powered generators.
Demand for efficient engines with low emission rates to meet stricter environmental regulations.
The increase in the number of vessels transporting liquid petroleum gas (LPG) and crude oil from one location to another.
The demand for high-power engines with increased torque.
The development of advanced dual-fuel engines, using LPG as fuel.
Up Market Research published a new report titled “Dual Fuel Marine Engines Market research report which is segmented by Types (Four-Stroke Dual-Fuel Engines, Two-Stroke Dual-Fuel Engines), By Applications (Inland Vessel, Overseas Ship), By Players/Companies Caterpillar, Cummins, Kubota, MAN Diesel & Turbo, Wartsila, ABC Diesel, Heinzmann, Hyundai, Rolls Royce, Westport, Woodward, Yanmar”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Dual Fuel Marine Engines Market Research Report |
By Type | Four-Stroke Dual-Fuel Engines, Two-Stroke Dual-Fuel Engines |
By Application | Inland Vessel, Overseas Ship |
By Companies | Caterpillar, Cummins, Kubota, MAN Diesel & Turbo, Wartsila, ABC Diesel, Heinzmann, Hyundai, Rolls Royce, Westport, Woodward, Yanmar |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 219 |
Number of Tables & Figures | 154 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Dual Fuel Marine Engines Market Report Segments:
The market is segmented by Type Four-Stroke Dual-Fuel Engines, Two-Stroke Dual-Fuel Engines and By Application Inland Vessel, Overseas Ship.
Some of the companies that are profiled in this report are:
- Caterpillar
- Cummins
- Kubota
- MAN Diesel & Turbo
- Wartsila
- ABC Diesel
- Heinzmann
- Hyundai
- Rolls Royce
- Westport
- Woodward
- Yanmar
Dual Fuel Marine Engines Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Dual Fuel Marine Engines Market
Overview of the regional outlook of the Dual Fuel Marine Engines Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Dual Fuel Marine Engines Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Dual Fuel Marine Engines Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Four-Stroke Dual-Fuel Engines
2. Two-Stroke Dual-Fuel Engines
7. By Application:1. Inland Vessel
2. Overseas Ship
- 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 Dual Fuel Marine Engines 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 2028.
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
Reasons to Purchase the Dual Fuel Marine Engines Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Dual Fuel Marine Engines 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 Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Size & Forecast, 2018-2028
4.5.1 Dual Fuel Marine Engines Market Size and Y-o-Y Growth
4.5.2 Dual Fuel Marine Engines Market Absolute $ Opportunity
Chapter 5 Global Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Size Forecast by Type
5.2.1 Four-Stroke Dual-Fuel Engines
5.2.2 Two-Stroke Dual-Fuel Engines
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Size Forecast by Applications
6.2.1 Inland Vessel
6.2.2 Overseas Ship
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Dual Fuel Marine Engines 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 Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Analysis and Forecast
9.1 Introduction
9.2 North America Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Size Forecast by Type
9.6.1 Four-Stroke Dual-Fuel Engines
9.6.2 Two-Stroke Dual-Fuel Engines
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 Dual Fuel Marine Engines Market Size Forecast by Applications
9.10.1 Inland Vessel
9.10.2 Overseas Ship
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 Dual Fuel Marine Engines Analysis and Forecast
10.1 Introduction
10.2 Europe Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Size Forecast by Type
10.6.1 Four-Stroke Dual-Fuel Engines
10.6.2 Two-Stroke Dual-Fuel Engines
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 Dual Fuel Marine Engines Market Size Forecast by Applications
10.10.1 Inland Vessel
10.10.2 Overseas Ship
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 Dual Fuel Marine Engines Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Size Forecast by Type
11.6.1 Four-Stroke Dual-Fuel Engines
11.6.2 Two-Stroke Dual-Fuel Engines
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 Dual Fuel Marine Engines Market Size Forecast by Applications
11.10.1 Inland Vessel
11.10.2 Overseas Ship
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 Dual Fuel Marine Engines Analysis and Forecast
12.1 Introduction
12.2 Latin America Dual Fuel Marine Engines 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 Dual Fuel Marine Engines Market Size Forecast by Type
12.6.1 Four-Stroke Dual-Fuel Engines
12.6.2 Two-Stroke Dual-Fuel Engines
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 Dual Fuel Marine Engines Market Size Forecast by Applications
12.10.1 Inland Vessel
12.10.2 Overseas Ship
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) Dual Fuel Marine Engines Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Dual Fuel Marine Engines 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) Dual Fuel Marine Engines Market Size Forecast by Type
13.6.1 Four-Stroke Dual-Fuel Engines
13.6.2 Two-Stroke Dual-Fuel Engines
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) Dual Fuel Marine Engines Market Size Forecast by Applications
13.10.1 Inland Vessel
13.10.2 Overseas Ship
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 Dual Fuel Marine Engines Market: Competitive Dashboard
14.2 Global Dual Fuel Marine Engines Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Caterpillar
14.3.2 Cummins
14.3.3 Kubota
14.3.4 MAN Diesel & Turbo
14.3.5 Wartsila
14.3.6 ABC Diesel
14.3.7 Heinzmann
14.3.8 Hyundai
14.3.9 Rolls Royce
14.3.10 Westport
14.3.11 Woodward
14.3.12 Yanmar