Global Marine Fuel Injection System Market by Application (Commercial, Defense), by Component (Fuel Pump, Fuel Valve, Fuel Injector, ECUs) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global marine fuel injection market was worth USD 4.8 billion. It is projected to grow at a compound annual rate (CAGR), of 3.36% during the forecast period. Seaborne trade is growing, which is driving demand for marine fuel injection components such as pumps, valves, and other parts. The product demand will be boosted by stringent government regulations regarding marine emissions.

Both shipbuilders and component suppliers are investing in research-and-development activities to create highly efficient products. International trade is growing due to lower subsidies and less restrictions on imports and exports. Maritime transport is preferred by both importers and exporters due to its higher transport capacity and lower cost than rail or road transport.

Sea transport is also more efficient than other modes of transport. The rising trend to retrofit old ships with the latest technology and systems is expected to positively impact product sales. The fuel injection systems are an integral part of the propulsion system and ensure that the combustion chamber is adequately fuelled for the engine to function efficiently.

These injectors are complex and prone to malfunction, so they need frequent replacements. The short life expectancy of these components combined with the rapidly growing shipping industry will drive product demand in the forecast period.

Component Insights

The market for marine fuel injection systems has been divided by component into injectors and pumps, valves, electronic control units (ECUs), etc. Other components include fuel pressure regulators and other components. In 2019, the injectors segment occupied the largest market share. In the next few years, significant growth is expected in the ECU segment.

ECUs control and modify vital control units, such as fuel and injection timing. The ECU's entire operation is dependent on signals from the various sensors it houses. ECUs play an important role in engine performance and emissions reduction.

Application Insights

The market can be divided into two segments based on its application: commercial and defense. In 2019, the commercial segment held the largest market share and will continue to dominate the market in the future. Increasing maritime trade around the world is expected to increase the demand for ships as well as the use of existing ships within the marine ecosystem. The highest expected CAGR for the commercial segment will be recorded over the forecast period.

Due to the efficient and cheap transport of their fleet, maritime trade accounts for approximately 90% of global overseas trade. Moreover, regulators have established strict CO2 emission policies. This has prompted component suppliers to invest in fuel supply components that are more efficient.

Regional Insights

The market was led by the Asia Pacific region in 2019. It is expected to maintain its dominance in the future. China, Japan and South Korea hold the majority of shipbuilding activities around the world, which explains the higher region share. The recent COVID-19 outbreak has had a severe impact on the global economy, including China's. The COVID-19 outbreak could be reduced, but this would result in a sharp increase in production and consequently in exports. Chinese companies will therefore make a lot of use of maritime transport to export goods at low prices. Over the forecast period, this is expected to have positive effects on the regional market.

Europe is predicted to experience the fastest growth rate during the forecast period. This region is home to a large maritime tourism market, which has led to an increase in ships and a boost in market growth. The region's growing popularity in watersports is driving market demand.

Market Share Insights & Key Companies

To increase market share, key companies have taken various strategies such as partnerships, mergers and acquisitions, and contractual agreements. Companies are also investing in R&D to create new and better products. Liebherr International AG, for instance, introduced in November 2018 its new hydraulic injection components to the Chinese market. The market leader in marine fuel injection systems is:

• Caterpillar, Inc.

• Rolls-Royce Plc

• Yanmar Co. Ltd.

• Woodward, Inc.

• Liebherr International AG.

Up Market Research published a new report titled “Marine Fuel Injection System Market research report which is segmented by Application (Commercial, Defense), by Component (Fuel Pump, Fuel Valve, Fuel Injector, ECUs), By Players/Companies Rolls-Royce Plc, Woodward Inc, Yanmar Co Ltd, Liebherr International AG, Caterpillar Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

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 Marine Fuel Injection System Market Report Segments:

The market is segmented by Application (Commercial, Defense), by Component (Fuel Pump, Fuel Valve, Fuel Injector, ECUs).

Marine Fuel Injection System 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 Marine Fuel Injection System Market

Overview of the regional outlook of the Marine Fuel Injection System 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 Marine Fuel Injection System Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Marine Fuel Injection System Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Commercial

                2. Defense

                1. Fuel Pump

                2. Fuel Valve

                3. Fuel Injector

                4. ECUs

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Marine Fuel Injection System 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.

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Reasons to Purchase the Marine Fuel Injection System 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.