The Global Marine Propulsion Engines Market size is projected to reach USD 71.6 billion by 2028, at a CAGR of 4.3% during the forecast period (2021-2028). Major drivers for the growth of the market are an increase in demand for efficient and low-emission engines, a high level of pollution control awareness among people and governments, and an increasing need for power generation in remote areas with limited land areas or natural resources. However, a lack of clarity on emission norms across various countries might hamper the market growth to some extent.
Marine Propulsion Engines have the function to propel ships, boats, and other marine vessels. The engine is operated by a person on board of ship or boat who starts it with diesel fuel which actuates an electric starter motor that then turns over the propeller shaft gearbox in order to supply power for rotation.
On the basis of Types, the market is segmented into Diesel Engines, Gas Turbines, Natural Engines, Hybrid Engines, and Fuel Cells.
Diesel Engines are used in marine propulsion, power generation, and other industries with reciprocating engines. The diesel engine was invented as an alternative to the steam engine for rail locomotives. It is a type of internal combustion engine that uses heat energy from burning fuel (e.g., natural gas or oil) to drive a piston within a cylinder, which converts mechanical energy into rotational force (motion).
Diesel engines have many variations but typically use heavier crankshafts than gasoline-powered internal combustion engines due to their higher compression ratios and increased torque at low revolutions per minute ranges.
Gas Turbine Marine Propulsion Engines perform better than any other engine type in terms of top speed and thrust. These engines are more expensive to purchase, but their performance makes them worth the cost. They also have a lower operating cost because they require less fuel to generate the same power as diesel-powered gas turbines do. Shipping vessels with speeds up to 35 knots often include Gas Turbines for propulsion purposes.
Marine propulsion natural engines are a type of marine engine that uses the kinetic energy from moving water to create mechanical energy. This is accomplished by using some form of hydropower, such as tidal mills or waves.
Marine propulsion hybrid engines combine a renewable power source with an efficient and effective internal combustion engine, marine propulsion hybrid systems offer major advantages over gas turbine or diesel-only solutions for powering boats on the water.
Fuel cell marine propulsion engines or FCMPEs are engine types that use fuel cells to generate electricity for the ship’s main motor. Fuel cells can store energy as chemical potential, and release it in a controlled manner, providing an alternative to batteries with their limited power storage capacity. The most common form of these is PEMFC (Proton Exchange Membrane).
On the basis of Application, the market is segmented into Working Vessel, Transport Vessel, Military Vessel, Pleasure Boats/Water Sports, Others.
The main use of Marine Propulsion Engines in Working Vessels is for propulsion. It also includes the steering and maneuvering control.
Marine Propulsion Engines are used in transport vessels for the purpose of driving a vessel. They have to be powerful enough so that they can push against water and overcome its resistance while moving forward at very high speeds. Some other uses include powering boats, ships, hydrofoils, or submarines.
Normally these engines are not designed specifically for marine use but they will work well with some modifications like suitable cooling system and corrosion-resistant materials making them more durable under a saltwater environment where it is often exposed.
The application of Marine Propulsion Engines in military vessels is expected to grow at the highest CAGR from 2021 to 2028. This will be attributed to the increasing demand for marine propulsion engines as well as their reduced cost and increased availability resulting from technological advancements.
Marine propulsion engines are used in pleasure boats or water sports. This application involves using these engines to give a boat power as it moves through the water. They are often found on smaller vessels like jetskis where you want them with shorter life spans since they're not expected to last long anyway due to general wear and tear over time.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market for Marine propulsion engines is expected to grow significantly during the forecast period. The region has been witnessing an increased demand for marine vessels and ships from various end-users such as military, commercial and recreational industries owing to increasing trade activities across continents. This will lead to significant growth opportunities for engine manufacturers over the next few years.
Marine propulsion engines are the driving force for all large vessels and boats. Marine propulsion engineering is a critical component of marine vessel design, with new technology developments being introduced regularly and used to improve existing designs.
The global marine propulsion market has been witnessing significant growth in recent years owing to rapid industrialization across Asia Pacific economies, increased demand from developing countries such as India and China, rising oil prices that have driven up fuel costs significantly on an annual basis, and improved economic conditions worldwide leading people to holiday travel more often than before.
Up Market Research published a new report titled “Marine Propulsion Engines Sales Market research report which is segmented by Types (Diesel Engine, Gas Turbine, Natural Engine, Hybrid Engine, Fuel Cell), By Applications (Working Vessel, Transport Vessel, Military Vessel, Pleasure Boats/Water Sports, Others), By Players/Companies Wärtsilä, MAN Energy Solutions, Rolls Royce, Mitsubishi Heavy Industries, Caterpillar, Daihatsu, Yanmar, Cummins, GE, Volvo Penta, Fairbanks Morse Engine, BAE Systems, SCANIA, Deere&Company, Doosan, STEYR MOTORS, CSIC, CSSC, Weichai, SDEC, YUCHAI”.
Report Attributes | Report Details |
Report Title | Marine Propulsion Engines Sales Market Research Report |
By Type | Diesel Engine, Gas Turbine, Natural Engine, Hybrid Engine, Fuel Cell |
By Application | Working Vessel, Transport Vessel, Military Vessel, Pleasure Boats/Water Sports, Others |
By Companies | Wärtsilä, MAN Energy Solutions, Rolls Royce, Mitsubishi Heavy Industries, Caterpillar, Daihatsu, Yanmar, Cummins, GE, Volvo Penta, Fairbanks Morse Engine, BAE Systems, SCANIA, Deere&Company, Doosan, STEYR MOTORS, CSIC, CSSC, Weichai, SDEC, YUCHAI |
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 | 247 |
Number of Tables & Figures | 173 |
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.
The market is segmented by Type Diesel Engine, Gas Turbine, Natural Engine, Hybrid Engine, Fuel Cell and By Application Working Vessel, Transport Vessel, Military Vessel, Pleasure Boats/Water Sports, Others.
Some of the companies that are profiled in this report are:
Marine Propulsion Engines Sales 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:
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.
We have studied the Marine Propulsion Engines Sales 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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