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Marine Propulsion and Auxiliary Power Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030- Product Image
Marine Propulsion and Auxiliary Power Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030- Product Image
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Marine Propulsion and Auxiliary Power Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030

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    Report

  • 181 Pages
  • November 2025
  • Region: Global
  • TechSci Research
  • ID: 5950424
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The Global Marine Propulsion and Auxiliary Power Market, valued at USD 10.11 Billion in 2024, is projected to experience a CAGR of 13.04% to reach USD 21.09 Billion by 2030. The Global Marine Propulsion and Auxiliary Power Market encompasses the design, manufacturing, and distribution of systems and technologies essential for propelling marine vessels and generating onboard power. This market's expansion is fundamentally driven by several key factors, including the consistent growth in international maritime trade necessitating larger and more efficient fleets, and increasingly stringent environmental regulations, such as those introduced by the International Maritime Organization, which mandate reductions in greenhouse gas emissions.

Key Market Drivers

Stringent maritime emission regulations fundamentally influence the Global Marine Propulsion and Auxiliary Power Market by compelling fleet operators to adopt advanced technologies and cleaner operational practices. International Maritime Organization mandates, such as the Energy Efficiency Existing Ship Index and the Carbon Intensity Indicator, necessitate significant upgrades or replacements of propulsion and auxiliary systems to ensure compliance and avoid penalties. This regulatory pressure directly stimulates demand for exhaust gas cleaning systems, energy recovery solutions, and more efficient engine designs.

Key Market Challenges

The substantial initial investment required for advanced propulsion systems, particularly those utilizing alternative fuels, represents a significant impediment to the growth of the Global Marine Propulsion and Auxiliary Power Market. Shipowners face considerable upfront capital expenditure when considering these innovative technologies, which often carry a higher procurement cost compared to conventional systems. This financial hurdle often deters broader adoption, as businesses prioritize immediate economic viability and return on investment.

Key Market Trends

Hybrid and electric propulsion system integration represents a significant trend in marine power architecture, combining traditional engines with energy storage like batteries for enhanced fuel efficiency, reduced emissions, and improved operational flexibility. The American Bureau of Shipping (ABS), an industrial association, actively classifies vessels with lithium-ion battery installations, exemplified by several SEACOR Marine platform support vessels receiving ABS-classed hybrid battery-power upgrades. Reflecting market demand, Wärtsilä secured an order in September 2023 for an integrated hybrid propulsion solution for three new cargo vessels, with deliveries slated for December 2025 and 2026. This underscores the market’s embrace of comprehensive hybrid solutions to meet evolving environmental and performance criteria.

Key Market Players Profiled:

  • ABB Ltd
  • Caterpillar Inc.
  • Cummins Inc.
  • MAN Energy Solutions
  • Mitsubishi Heavy Industries Ltd.
  • Rolls-Royce plc
  • Siemens AG
  • Wärtsilä Corporation
  • Yanmar Holdings Co., Ltd
  • Hyundai Heavy Industries Co., Ltd.

Report Scope:

In this report, the Global Marine Propulsion and Auxiliary Power Market has been segmented into the following categories:

By FuelType:

  • Diesel
  • Liquefied Natural Gas (LNG)
  • Liquefied Petroleum Gas (LPG)
  • Natural Gas
  • Battery
  • Ammonia
  • Hydrogen
  • Others

By Application:

  • Propulsion
  • Auxiliary

By Power Rating:

  • < 1,000 kW
  • 1,000-2,000 kW
  • 2,001-3,000 kW
  • 3,001-4,000 kW
  • 4,001-5,000 kW

By Vessel Type:

  • Tankers/Carriers
  • Barges/Cargo Vessels
  • Defense Vessels
  • Cruise Ships
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Marine Propulsion and Auxiliary Power Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report:
  • Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.

Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Global Marine Propulsion and Auxiliary Power Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By FuelType (Diesel, Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), Natural Gas, Battery, Ammonia, Hydrogen, Others)
5.2.2. By Application (Propulsion, Auxiliary)
5.2.3. By Power Rating (< 1,000 kW, 1,000-2,000 kW, 2,001-3,000 kW, 3,001-4,000 kW, 4,001-5,000 kW)
5.2.4. By Vessel Type (Tankers/Carriers, Barges/Cargo Vessels, Defense Vessels, Cruise Ships, Others)
5.2.5. By Region
5.2.6. By Company (2024)
5.3. Market Map
6. North America Marine Propulsion and Auxiliary Power Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By FuelType
6.2.2. By Application
6.2.3. By Power Rating
6.2.4. By Vessel Type
6.2.5. By Country
6.3. North America: Country Analysis
6.3.1. United States Marine Propulsion and Auxiliary Power Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By FuelType
6.3.1.2.2. By Application
6.3.1.2.3. By Power Rating
6.3.1.2.4. By Vessel Type
6.3.2. Canada Marine Propulsion and Auxiliary Power Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By FuelType
6.3.2.2.2. By Application
6.3.2.2.3. By Power Rating
6.3.2.2.4. By Vessel Type
6.3.3. Mexico Marine Propulsion and Auxiliary Power Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By FuelType
6.3.3.2.2. By Application
6.3.3.2.3. By Power Rating
6.3.3.2.4. By Vessel Type
7. Europe Marine Propulsion and Auxiliary Power Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By FuelType
7.2.2. By Application
7.2.3. By Power Rating
7.2.4. By Vessel Type
7.2.5. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Marine Propulsion and Auxiliary Power Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By FuelType
7.3.1.2.2. By Application
7.3.1.2.3. By Power Rating
7.3.1.2.4. By Vessel Type
7.3.2. France Marine Propulsion and Auxiliary Power Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By FuelType
7.3.2.2.2. By Application
7.3.2.2.3. By Power Rating
7.3.2.2.4. By Vessel Type
7.3.3. United Kingdom Marine Propulsion and Auxiliary Power Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By FuelType
7.3.3.2.2. By Application
7.3.3.2.3. By Power Rating
7.3.3.2.4. By Vessel Type
7.3.4. Italy Marine Propulsion and Auxiliary Power Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By FuelType
7.3.4.2.2. By Application
7.3.4.2.3. By Power Rating
7.3.4.2.4. By Vessel Type
7.3.5. Spain Marine Propulsion and Auxiliary Power Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By FuelType
7.3.5.2.2. By Application
7.3.5.2.3. By Power Rating
7.3.5.2.4. By Vessel Type
8. Asia Pacific Marine Propulsion and Auxiliary Power Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By FuelType
8.2.2. By Application
8.2.3. By Power Rating
8.2.4. By Vessel Type
8.2.5. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Marine Propulsion and Auxiliary Power Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By FuelType
8.3.1.2.2. By Application
8.3.1.2.3. By Power Rating
8.3.1.2.4. By Vessel Type
8.3.2. India Marine Propulsion and Auxiliary Power Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By FuelType
8.3.2.2.2. By Application
8.3.2.2.3. By Power Rating
8.3.2.2.4. By Vessel Type
8.3.3. Japan Marine Propulsion and Auxiliary Power Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By FuelType
8.3.3.2.2. By Application
8.3.3.2.3. By Power Rating
8.3.3.2.4. By Vessel Type
8.3.4. South Korea Marine Propulsion and Auxiliary Power Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By FuelType
8.3.4.2.2. By Application
8.3.4.2.3. By Power Rating
8.3.4.2.4. By Vessel Type
8.3.5. Australia Marine Propulsion and Auxiliary Power Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By FuelType
8.3.5.2.2. By Application
8.3.5.2.3. By Power Rating
8.3.5.2.4. By Vessel Type
9. Middle East & Africa Marine Propulsion and Auxiliary Power Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By FuelType
9.2.2. By Application
9.2.3. By Power Rating
9.2.4. By Vessel Type
9.2.5. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Marine Propulsion and Auxiliary Power Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By FuelType
9.3.1.2.2. By Application
9.3.1.2.3. By Power Rating
9.3.1.2.4. By Vessel Type
9.3.2. UAE Marine Propulsion and Auxiliary Power Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By FuelType
9.3.2.2.2. By Application
9.3.2.2.3. By Power Rating
9.3.2.2.4. By Vessel Type
9.3.3. South Africa Marine Propulsion and Auxiliary Power Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By FuelType
9.3.3.2.2. By Application
9.3.3.2.3. By Power Rating
9.3.3.2.4. By Vessel Type
10. South America Marine Propulsion and Auxiliary Power Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By FuelType
10.2.2. By Application
10.2.3. By Power Rating
10.2.4. By Vessel Type
10.2.5. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Marine Propulsion and Auxiliary Power Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By FuelType
10.3.1.2.2. By Application
10.3.1.2.3. By Power Rating
10.3.1.2.4. By Vessel Type
10.3.2. Colombia Marine Propulsion and Auxiliary Power Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By FuelType
10.3.2.2.2. By Application
10.3.2.2.3. By Power Rating
10.3.2.2.4. By Vessel Type
10.3.3. Argentina Marine Propulsion and Auxiliary Power Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By FuelType
10.3.3.2.2. By Application
10.3.3.2.3. By Power Rating
10.3.3.2.4. By Vessel Type
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Global Marine Propulsion and Auxiliary Power Market: SWOT Analysis
14. Porter's Five Forces Analysis
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. Competitive Landscape
15.1. ABB Ltd
15.1.1. Business Overview
15.1.2. Products & Services
15.1.3. Recent Developments
15.1.4. Key Personnel
15.1.5. SWOT Analysis
15.2. Caterpillar Inc.
15.3. Cummins Inc.
15.4. MAN Energy Solutions
15.5. Mitsubishi Heavy Industries Ltd.
15.6. Rolls-Royce plc
15.7. Siemens AG
15.8. Wärtsilä Corporation
15.9. Yanmar Holdings Co., Ltd
15.10. Hyundai Heavy Industries Co., Ltd.
16. Strategic Recommendations17. About the Publisher & Disclaimer

Companies Mentioned

  • ABB Ltd
  • Caterpillar Inc.
  • Cummins Inc.
  • MAN Energy Solutions
  • Mitsubishi Heavy Industries Ltd.
  • Rolls-Royce plc
  • Siemens AG
  • Wärtsilä Corporation
  • Yanmar Holdings Co., Ltd
  • Hyundai Heavy Industries Co., Ltd.

Table Information

Report AttributeDetails
No. of Pages181
PublishedNovember 2025
Forecast Period2024 - 2030
Estimated Market Value ( USD ) in 2024 $ 10.11 Billion
Forecasted Market Value ( USD ) by 2030 $ 21.09 Billion
Compound Annual Growth Rate13.0%
Regions CoveredGlobal
No. of Companies Mentioned10

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