Marine Engine Market Analysis & Forecast 2024-2030

Global Marine Engine Market is expected to reach USD 20535.28 million by 2030 with CAGR of 4.1% between 2024 and 2030

Marine engines are the machines used in the propulsion of watercraft. It creates the thrust which is used in the displacement of the ship. Marine engine forms the most integral and important part of the ships. Nowadays functionality of Marine engine is not only restricted to propulsion system but also to deliver safety standard to ecosystem and ship. Cost efficiency is also one the main concern hence deliverance of better cost efficiency has become important parameter in selection of Marine Engine.  

Based on fuel used for propulsion Marine engines are classified as Heavy Fuel, Intermediate Fuel, Marine Diesel & Marine Gas Oil. Diesel engines contributes the highest share in the segment due to high efficiency, low cost, and easy availability. The diesel engine uses the piston’s sweep of the cylinder from bdc position up to tdc position to compress the inducted air, raising its pressure and consequent heat to such an extent (1000ºC) that when fuel is injected it immediately ignites.  

Diesel engines need a high compression ratio compressed the air sufficient to reach the temperature for ignition. A 16:1 to 20:1 compression ratio, common to small high speed diesel engines means that the air has been compressed to one-sixteenth or one twentieth of its original volume. The wall of the cylinder needs to be heavy gauge to contain the pressure.  

Marine engines are available in 2 stroke and 4 stroke the four-stroke engine takes two complete revolutions of the crankshaft to complete the work cycle. The two-stroke does it in one complete revolution of the crankshaft. This means that a two-stroke engine has twice as many power operations as a four-stroke engine at the same speed, so it may produce more power and acceleration but at the expense of fuel efficiency and reliability.  

In growth scenario of market rise in Ship market, international trading, tourism and cost-effective way of transportation are the important reason for the growth of Marine Engines Market. Asia- Pacific holds highest share in the market followed by North America and Europe. Technological advancement, growing infrastructure, high –demand and supply scenario and globalization of businesses are the main factors propelling fuel to growth of market. China and South Korea are among the top manufacturer of ships globally which leads to high demand for Marine Engines in Asia-Pacific regions. Africa and Middle east market are expected to contribute small share in overall market. South American Marine Engines Market is expected to grow at constant rate in forecasted period.  

Marine Engine Market: Fuel Type

• Intermediate fuel
• Marine Diesel
• Heavy Fuel
• Marine gas oil
• Bio-gas

Marine Engine Market: Vessel Type

• Commercial Vessels
• Offshore Support Vessels
• Inland Waterways Vessels

Marine Engine Market: Stroke Type

• 2- stroke
• 4- stroke

Marine Engine Market : Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Marine Engine Market:

• Mercury Marine
• Sumitomo Heavy Industries
• Cummins Inc
• Roll Royce limited
• Hyundai Heavy Industries
• GM Power Train
• Caterpillar Corporate
• Mitsubishi Heavy Industries
• MAN Diesel & Turbo SE
• Wartsila Corporation

Geographical analysis of Marine Engine Market:

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Marine Engine Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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