Latest Trends and Opportunities for Marine Propulsion Engine Market
The growing international trade through marine transportation due to its cost-effectiveness is fuelling the demand for commercial ships, which in turn is propelling the marine propulsion engine market. Along with that, the increasing focus of the defense sector in many nations to strengthen their maritime security and sea-based defense is fuelling the growth of the marine industry. This, in turn, is resulting in rapid growth of the marine propulsion engine market. However, stringent environmental rules & regulations and big capital investment required to set up new manufacturing facilities hamper the market growth. Regardless of these challenges, increase 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.
Geographical Analysis of Marine Propulsion Engine Market
The Asia Pacific holds the largest market share of the marine propulsion engine market and is anticipated to maintain its dominance throughout the forecast period. This is mainly because of key nations China, Japan, and South Korea that have become manufacturing powerhouses heavily dependent on external trade. China is already the world’s largest exporter and would naturally require a greater number of commercial ships, thus having a positive impact on the demand for marine propulsion engines. The economic recovery of the United States and the countries of Europe post the economic slump of 2007 is generating a positive scenario for the overall trade dynamics. The increase in demand for boats, ships, yacht for trade, entertainment, fishing, warfare, and public safety is expected to fuel the global marine propulsion engine market in the coming years.
Key Developments in the Marine Propulsion Engine Market
June 2018: Scania has signed an agreement to provide a range of marine engines to French supplier, Nanni to help extend its engine manufacturing in the marine industry.
June 2018: Wartsila will provide the engines, propellers, and control system for a new hopper dredger being built by Damen. Wartsila will prepare the engines ready for use with IMO Tier III compliant selective catalytic reduction technology to reduce emissions.
Marine Propulsion Engine Market Major Players:
Daihatsu Diesel Mfg. Co., Ltd.
Hyundai Heavy Industries Co., Ltd
Mitsubishi Heavy Industries, Ltd.
Reasons to Purchase Marine Propulsion Engine Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The vehicle type that is expected to dominate the market
The countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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1.1 Scope of the Market
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. Market Insights
3.1 Current Market Scenario
3.2 Industry Attractiveness - Porter's Five Force Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Technological Trends
4. Market Dynamics
4.1 Marine Propulsion Engine Market Drivers
4.1.1 Growing International Seaborne Trade
4.2 Marine Propulsion Engine Market Restraints
4.2.1 Stringent Environmental Rules & Regulations
4.3 Marine Propulsion Engine Market Opportunities
4.3.1 Increase in Usage of Inland Waterways
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 Marine Propulsion Engine Market By Engine Type
5.1.1 Diesel Engine
5.1.2 Gas Turbine
5.1.3 Natural Engine
5.2 Marine Propulsion Engine Market By Ship Type
5.2.3 Bulk Carrier
5.2.4 Offshore Vessel
5.2.5 Passenger Ship
6. Marine Propulsion Engine Market Regional Analysis (Market Size, Growth, and Forecast)
6.1 North America
6.1.1 United States
6.1.4 Rest of the North America
6.2.2 United Kingdom
6.2.6 Rest of the Europe
6.3.4 Rest of the Asia-Pacific
6.4 Rest of the World
6.4.1 South America
6.4.2 Middle-East and Africa
7. Marine Propulsion Engine Market Future
8. Marine Propulsion Engine Market Competitive Landscape
8.2 Market Share Analysis**
9. Marine Propulsion Engine Market Comapnies (Overview, Financials**, Products & Services, and Recent Developments)
9.2 Cummins Inc.
9.3 Daihatsu Diesel Mfg. Co., Ltd.
9.4 Hyundai Heavy Industries Co., Ltd
9.5 Man Se (Man Diesel & Turbo)
9.6 Mitsubishi Heavy Industries, Ltd.
9.7 Rolls-Royce Plc
9.10 Yanmar Co., Ltd.
*List not Exhaustive
**Subject to Availability on Public Domain