Global Marine Propulsion Engines Sales Market 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) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
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.
Marine Propulsion Diesel Engines:
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 Turbines Marine Propulsion Engines:
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:
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:
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:
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.
Working Vessel:
The main use of Marine Propulsion Engines in Working Vessels is for propulsion. It also includes the steering and maneuvering control.
Transport Vessel:
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.
Military Vessel:
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.
Pleasure Boats/Water Sports:
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.
Growth Factors For The Global Marine Propulsion Engines Market:
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 Scope
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.
Global Marine Propulsion Engines Sales Market Report Segments:
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:
- 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
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:
- 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 Propulsion Engines Sales Market
Overview of the regional outlook of the Marine Propulsion Engines Sales 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 Propulsion Engines Sales Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Marine Propulsion Engines Sales Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Diesel Engine
2. Gas Turbine
3. Natural Engine
4. Hybrid Engine
5. Fuel Cell
7. By Application:1. Working Vessel
2. Transport Vessel
3. Military Vessel
4. Pleasure Boats/Water Sports
5. Others
- 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 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.
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 Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Size & Forecast, 2018-2028
4.5.1 Marine Propulsion Engines Sales Market Size and Y-o-Y Growth
4.5.2 Marine Propulsion Engines Sales Market Absolute $ Opportunity
Chapter 5 Global Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Size Forecast by Type
5.2.1 Diesel Engine
5.2.2 Gas Turbine
5.2.3 Natural Engine
5.2.4 Hybrid Engine
5.2.5 Fuel Cell
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Size Forecast by Applications
6.2.1 Working Vessel
6.2.2 Transport Vessel
6.2.3 Military Vessel
6.2.4 Pleasure Boats/Water Sports
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Analysis and Forecast
9.1 Introduction
9.2 North America Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Size Forecast by Type
9.6.1 Diesel Engine
9.6.2 Gas Turbine
9.6.3 Natural Engine
9.6.4 Hybrid Engine
9.6.5 Fuel Cell
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 Marine Propulsion Engines Sales Market Size Forecast by Applications
9.10.1 Working Vessel
9.10.2 Transport Vessel
9.10.3 Military Vessel
9.10.4 Pleasure Boats/Water Sports
9.10.5 Others
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 Marine Propulsion Engines Sales Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Size Forecast by Type
10.6.1 Diesel Engine
10.6.2 Gas Turbine
10.6.3 Natural Engine
10.6.4 Hybrid Engine
10.6.5 Fuel Cell
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 Marine Propulsion Engines Sales Market Size Forecast by Applications
10.10.1 Working Vessel
10.10.2 Transport Vessel
10.10.3 Military Vessel
10.10.4 Pleasure Boats/Water Sports
10.10.5 Others
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 Marine Propulsion Engines Sales Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Size Forecast by Type
11.6.1 Diesel Engine
11.6.2 Gas Turbine
11.6.3 Natural Engine
11.6.4 Hybrid Engine
11.6.5 Fuel Cell
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 Marine Propulsion Engines Sales Market Size Forecast by Applications
11.10.1 Working Vessel
11.10.2 Transport Vessel
11.10.3 Military Vessel
11.10.4 Pleasure Boats/Water Sports
11.10.5 Others
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 Marine Propulsion Engines Sales Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Propulsion Engines Sales 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 Marine Propulsion Engines Sales Market Size Forecast by Type
12.6.1 Diesel Engine
12.6.2 Gas Turbine
12.6.3 Natural Engine
12.6.4 Hybrid Engine
12.6.5 Fuel Cell
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 Marine Propulsion Engines Sales Market Size Forecast by Applications
12.10.1 Working Vessel
12.10.2 Transport Vessel
12.10.3 Military Vessel
12.10.4 Pleasure Boats/Water Sports
12.10.5 Others
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) Marine Propulsion Engines Sales Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Propulsion Engines Sales 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) Marine Propulsion Engines Sales Market Size Forecast by Type
13.6.1 Diesel Engine
13.6.2 Gas Turbine
13.6.3 Natural Engine
13.6.4 Hybrid Engine
13.6.5 Fuel Cell
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) Marine Propulsion Engines Sales Market Size Forecast by Applications
13.10.1 Working Vessel
13.10.2 Transport Vessel
13.10.3 Military Vessel
13.10.4 Pleasure Boats/Water Sports
13.10.5 Others
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 Marine Propulsion Engines Sales Market: Competitive Dashboard
14.2 Global Marine Propulsion Engines Sales Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Wärtsilä
14.3.2 MAN Energy Solutions
14.3.3 Rolls Royce
14.3.4 Mitsubishi Heavy Industries
14.3.5 Caterpillar
14.3.6 Daihatsu
14.3.7 Yanmar
14.3.8 Cummins
14.3.9 GE
14.3.10 Volvo Penta
14.3.11 Fairbanks Morse Engine
14.3.12 BAE Systems
14.3.13 SCANIA
14.3.14 Deere&Company
14.3.15 Doosan
14.3.16 STEYR MOTORS
14.3.17 CSIC
14.3.18 CSSC
14.3.19 Weichai
14.3.20 SDEC
14.3.21 YUCHAI