Marine Propulsion Engine Market by Power Source and Ship Type - Global Opportunity Analysis and Industry Forecast, 2014-2022

  • ID: 4612567
  • Report
  • Region: Global
  • 180 pages
  • Allied Analytics LLP
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Marine propulsion engine is a machine that, creates thrust to move ships forward or backward. This system comprises sources of energy, engine, and propeller. The marine propulsion engine market is expected to witness robust growth during the forecast period. This is mainly due to various ongoing government investments in shipbuilding industry and waterways. Ships may integrate with one or more than one propulsion engines, depending on the size (gross tonnage) of ships. Moreover, in the early stage of marine propulsion, steam turbines were used; however, due to advancement in technology nowadays, diesel or alternative fuel engine and gas turbine have greater penetration.

Prominent market players invest significantly in R&D to enhance their technical expertise and product portfolio. For instance, in November 2016, Caterpillar launched C7.1, a six-cylinder, inline, four-stroke diesel marine propulsion engine with turbocharging and after-cooling.

The global marine propulsion market is driven by increase in production & sales of ships globally and rise in international seaborne trade. Rise in demand for resources such as crude oil, coal, steel, and iron from developing countries farther fuels the market growth. However, stringent environmental rules & regulations and huge capital investment required to set up new manufacturing facilities restrain the market growth. Irrespective of these challenges, rise in usage of inland waterways and advancement in technology, such as new alternative fuel propulsion engine, are expected to provide various opportunities for new products and boost the market growth.

The market is segmented based on power source, ship types, and geography. On the basis of power source, the market is divided into diesel, gas turbine, natural gas, and others (steam turbine, renewable energy, hybrid, and fuel cell). By ship types, the market is categorized into cargo & container, tanker, bulk carrier, offshore vessel, passenger ship, and others (tugs & service ships). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Prominent players profiled in the report include Caterpillar, Cummins Inc., Rolls-Royce plc, Wärtsilä, MAN Diesel & Turbo, Hyundai Heavy Industries Co., Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Scania, YANMAR CO., LTD., DAIHATSU DIESEL MFG.CO., LTD., Nigata Power Systems Co., Ltd., Fairbanks Morse Engine, Masson-Marine, and General Electric Company.

KEY BENEFITS

The report includes an extensive analysis of the factors that drive as well as restrain the global marine propulsion engine market.
The market projections from 2014 to 2022 are included along with the affecting factors.
The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the situations prevailing in the market.
An in-depth analysis of key segments demonstrates stakeholders with different types of ships and different power sources.
Competitive intelligence highlights the business practices followed by leading market players across various geographies.

KEY MARKET SEGMENTS

BY POWER SOURCE

Diesel
Gas Turbine
Natural Gas
Others (Steam Turbine, Renewable Energy, Hybrid, and Fuel Cell)

BY APPLICATION

Cargo or Container Ship
Tanker
Bulk Carrier
Offshore Vessel
Passenger Ship
Others (Tugs & Service Ships)

BY GEOGRAPHY

North America
U.S.
Canada
Mexico
Europe
Germany
Romania
Italy
Norway
Rest of Europe
Asia-Pacific
China
South Korea
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

MARKET PLAYERS IN VALUE CHAIN

Caterpillar
Cummins Inc.
Rolls-Royce Plc
Wärtsilä
MAN Diesel & Turbo
Hyundai Heavy Industries Co., Ltd.
MITSUBISHI HEAVY INDUSTRIES, LTD.
Scania
YANMAR CO., LTD.
DAIHATSU DIESEL MFG.CO., LTD.
Nigata Power Systems Co., Ltd.
Fairbanks Morse Engine
Masson-Marine
General Electric Company
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CHAPTER 1 INTRODUCTION
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO Perspective

CHAPTER 3 MARKET OVERVIEW
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Winning Strategies
3.2.2. Top Investment Pockets
3.3. Porters Five Forces Analysis
3.3.1. Bargaining Power of Supplier
3.3.2. Bargaining Power of Buyers
3.3.3. Threat of Substitutes
3.3.4. Threat of New Entrants
3.3.5. Intensity of Competitive Rivalry
3.4. Market Share Analysis, 2015
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Increasing Production and Sales of Ships Globally
3.5.1.2. Rise in International Seaborne Trade
3.5.2. Restraints
3.5.2.1. Stringent Environmental Rules & Regulations
3.5.3. Opportunities
3.5.3.1. Advancement in Technology
3.5.3.2. Rise in Usage of Inland Waterways

CHAPTER 4 GLOBAL MARINE PROPULSION ENGINE MARKET, BY POWER SOURCE
4.1. Overview
4.1.1. Key Player Positioning
4.1.2. Market Size and Forecast
4.2. Diesel
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast
4.3. Gas Turbine
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast
4.4. Natural Gas
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast
4.5. Others (Steam Turbine, Renewable Energy, Hybrid, and Fuel Cell)
4.5.1. Key Market Trends, Growth Factors and Opportunities
4.5.2. Market Size and Forecast

CHAPTER 5 GLOBAL MARINE PROPULSION ENGINE MARKET, BY SHIP TYPE
5.1. Overview
5.1.1. Market Size and Forecast
5.2. Cargo or Contanier Ship
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast
5.3. Tanker
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast
5.4. Bulk Carrier
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast
5.5. Offshore Vessel
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast
5.6. Passenger Ship
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast
5.7. Others (Tugs & Service Ships)
5.7.1. Key Market Trends, Growth Factors and Opportunities
5.7.2. Market Size and Forecast

CHAPTER 6 GLOBAL MARINE PROPULSION ENGINE MARKET, BY GEOGRAPHY
6.1. Overview
6.1.1. Market Size and Forecast
6.2. North America
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast
6.2.3. U.S.
6.2.3.1. Market Size and Forecast
6.2.4. Canada
6.2.4.1. Market Size and Forecast
6.2.5. Mexico
6.2.5.1. Market Size and Forecast
6.3. Europe
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast
6.3.3. Germany
6.3.3.1. Market Size and Forecast
6.3.4. Romania
6.3.4.1. Market Size and Forecast
6.3.5. Italy
6.3.5.1. Market Size and Forecast
6.3.6. Norway
6.3.6.1. Market Size and Forecast
6.3.7. Rest of Europe
6.3.7.1. Market Size and Forecast
6.4. Asia-Pacific
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4.3. China
6.4.3.1. Market Size and Forecast
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. South Korea
6.4.5.1. Market Size and Forecast
6.4.6. Rest of Asia-Pacific
6.4.6.1. Market Size and Forecast
6.5. LAMEA
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast
6.5.3. Latin America
6.5.3.1. Market Size and Forecast
6.5.4. Middle East
6.5.4.1. Market Size and Forecast
6.5.5. Africa
6.5.5.1. Market Size and Forecast

CHAPTER 7 RELATED INDUSTRY INSIGHTS

CHAPTER 8 COMPANY PROFILES
8.1. Caterpillar
8.1.1. Company Overview
8.1.2. Operating Business Segments
8.1.3. Business Performance
8.1.4. Key Strategic Moves and Developments
8.2. Cummins Inc.
8.2.1. Company Overview
8.2.2. Operating Business Segments
8.2.3. Business Performance
8.2.4. Key Strategic Moves and Developments
8.3. Daihatsu Diesel Mfg. Co., Ltd.
8.3.1. Company Overview
8.3.2. Operating Business Segments
8.3.3. Business Performance
8.4. Hyundai Heavy Industries Co., Ltd
8.4.1. Company Overview
8.4.2. Operating Business Segments
8.4.3. Business Performance
8.4.4. Key Strategic Moves and Developments
8.5. Man Se (Man Diesel & Turbo)
8.5.1. Company Overview
8.5.2. Operating Business Segments
8.5.3. Business Performance
8.5.4. Key Strategic Moves and Developments
8.6. Mitsubishi Heavy Industries, Ltd.
8.6.1. Company Overview
8.6.2. Operating Business Segments
8.6.3. Business Performance
8.6.4. Key Strategic Moves and Developments
8.7. Rolls-Royce Plc
8.7.1. Company Overview
8.7.2. Operating Business Segments
8.7.3. Business Performance
8.7.4. Key Strategic Moves and Developments
8.8. Scania
8.8.1. Company Overview
8.8.2. Operating Business Segments
8.8.3. Business Performance
8.8.4. Key Strategic Moves and Developments
8.9. Wrtsil
8.9.1. Company Overview
8.9.2. Operating Business Segments
8.9.3. Business Performance
8.9.4. Key Strategic Moves and Developments
8.10. Yanmar Co., Ltd.
8.10.1. Company Overview
8.10.2. Operating Business Segments
8.10.3. Business Performance
8.10.4. Key Strategic Moves and Developments
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The marine propulsion engine market was valued at $9 billion in 2015 and is projected to reach $12 billion by 2022, growing at a CAGR of 4.1% from 2016 to 2022, according to a new report published by Allied Market Research. Diesel propulsion system segment is expected to maintain its domince throughout the forecast period. Asia-Pacific accounted for the highest share of 51% in 2015, and is anticipated to maintain this trend.

Marine propulsion engine creates thrust to move ship across the water by converting chemical energy to mechanical energy. Increase in production & sales of ships globally and rise in intertiol seaborne trade drives the market growth. In addition, increase in demand for resources such as crude oil, coal, steel, and iron from developing countries is another driver for the growth of the market. However, stringent environmental rules & regulations and large capital investment required to set up new manufacturing facilities hamper the market growth. Moreover, rise in usage of inland waterways and advancement in technology, such as new altertive fuel propulsion engine, are expected to provide lucrative opportunities for new products and boost the market growth.

Power source segment is divided into diesel, gas turbine, tural gas, and others (steam turbine, renewable energy, hybrid, and fuel cell). In 2015, diesel propulsion engine accounted for the largest revenue, and is anticipated to maintain its domince throughout the forecast period. This is attributed to high efficiency and low cost of engine as compared to others. However, tural gas-powered engine segment is expected to witness the highest growth rate of 7.1%, owing to stringent emission rules and regulations.

By ship type, the market is categorized into cargo or container ship, tanker, bulk carrier, offshore vessel, passenger ship, and others (tugs & service ships). In 2015, cargo or container ship accounted for the largest market share due to rise in intertiol seaborne trade of non-bulk cargo such as vehicles, food products, and electronics items. Bulk carrier segment is anticipated to show highest growth rate among ships type, owing to rise in demand of resources such as ore, coal, grains and other similar products in loose form.

Asia-Pacific accounted for majority of revenue in 2015, and is expected to maintain its domince, followed by Europe and North America. This is attributed to the rise in shipbuilding industry of South Korea and Chi.

Key findings of Marine Propulsion Engine Market

In 2015, diesel propulsion engine led the overall marine propulsion engine market, and is projected to grow at a CAGR of 2.8% during the forecast period.
tural gas propulsion engine segment is expected to grow at a remarkable CAGR of 7.1%.
Cargo or container ship segment led the overall market in 2015, and is estimated to grow at a CAGR of 2.8%.
Bulk carrier segment is expected to grow at a remarkable CAGR of 5.4%.
Asia-Pacific accounted for the largest market share in 2015, and is anticipated to grow at a CAGR of 4.5%.
Chi and South Korea are the major shareholders, accounting for about half share of the Asia-Pacific marine propulsion engine market.

Key players in the marine propulsion engine market are focused to expand their business operations in the emerging countries with new product launches as a preferred strategy. The major players profiled in this report include Caterpillar, Cummins Inc., Rolls-Royce Plc, Wrtsil, MAN Diesel & Turbo, Hyundai Heavy Industries Co., Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Scania, YANMAR CO., LTD., DAIHATSU DIESEL MFG.CO., LTD., Nigata Power Systems Co., Ltd., Fairbanks Morse Engine, Masson-Marine, and General Electric Company.
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