About Marine Propulsion Engines
Marine propulsion engines are meant to propel the ship or boat. Recent technological advancements in marine propulsion have been towards the development of fuel efficient and environment-friendly engine. Rising global marine transportation and huge potential for growth in inland waterways are bolstering the demand for marine propulsion engines.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Marine Propulsion Engines market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Wartsila [Finland], MAN Diesel [Germany], Rolls Royce [United Kingdom], Mitsubishi Heavy Industries [Japan], GE [United States], Caterpillar [United States], Cummins [United States], Yanmar [Japan], Daihatsu [Japan], Volvo Penta [Sweden], SCANIA [Sweden], Deere&Company [United States] and Doosan [South Korea] are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are CSIC [Spain], Cssc Marine Power Co Ltd [China], Weichai [China], YUCHAI [Singapore] and SDEC [China].
Segmentation Overview
AMA Research has segmented the market of Global Marine Propulsion Engines market by and Region.
On the basis of geography, the market of Marine Propulsion Engines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Power Source, the sub-segment i.e. Diesel will boost the Marine Propulsion Engines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by By Ship, the sub-segment i.e. Cargo or Container Ships will boost the Marine Propulsion Engines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Focus on Manufacturing Energy Efficient and Less Emission Producing Engines and Shift Towards Alternative Propulsion Technology and Growing use of Hybrid Turbochargers
Market Growth Drivers:
Growing Demand Led to Rise in Production an Sales of Ships and Increasing Marine Transportation and Trade Activities
Challenges:
Reducing Fuel Consumption and Operational Cost and Cutting Down the Time in Overhaul
Restraints:
Stringent Regulations Regarding Emission and High Cost and Intricacy Involved in Engine Designing
Opportunities:
Growing Inland Waterways Transportation and Rise in Defense Budgets and Activities in Emerging Countries
Market Leaders and their expansionary development strategies
In January 2024, Yamaha Motor has concluded a stock purchase agreement with Germany's DEUTZ AG, which owns marine electric propulsion manufacturer Torqeedo, to acquire all of Torqeedo's shares. This acquisition is also meant to support and accelerate Yamaha's efforts for achieving carbon neutrality in the marine industry as well as aid in fast-tracking the establishment of a small electric propulsion line-up.
In November 2023 FPT Industrial will launch two newly rated marine propulsion engines. the new medium and heavy-duty Cursor C90 410 and high-performance commercial light-duty C90 650E 605 hp. Both engines build on FPT’s legacy of outstanding power output standards with minimum displacement and the highest levels of reliability.
Key Target Audience
Marine Propulsion Engines Manufacturers, Suppliers/Distributors, Potential Investors, Government Agencies, Research Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.