Increasing demand for marine diesel can be attributed to factors such growing international marine freight transport sector and rising demand of smart engines for situational safety and awareness. Moreover, growing maritime tourism and increased naval budgets globally expected to drive the demand for marine diesel during the forecasted period.This growth is primarily driven by Growing International Marine Freight Transport sector and Rising Demand for Smart Engines Driving the Demand for Marine Diesel.
Globally, a noticeable market trend is evident Increasing Demand for Dual-Fuel Engines. Major Manufacturers, such as Aegean Marine Petroleum Network Inc. (Greece), Bomin Bunker Oil Corp (Germany), BP PLC (United Kingdom), Indian Oil Corporation (India), Gazprom Neft PJSC (Russia), Chemoil Energy Ltd (Singapore), Exxon Mobil (United States), KPI Bridge Oil A/S (Denmark), Royal Dutch Shell PLC (Netherlands) and Harvey Gulf International Marine LLC. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
“United States Environmental Protection Agency (EPA) has adopted exhaust emission standards for marine diesel engines installed in a variety of marine vessels ranging in size and application from small recreational vessels to tugboats and large ocean-going vessels. These domestic emission standards apply for engines installed on U.S. vessels. Additional international requirements may apply for engines installed on U.S. vessels that operate in foreign ports and waters and for foreign vessels.”
- Growing International Marine Freight Transport sector
- Rising Demand for Smart Engines Driving the Demand for Marine Diesel
- Increasing Demand for Dual-Fuel Engines
- Stringent Environmental Regulations Globally
- Slowdown in the Oil and Gas Industry
Growing Maritime Tourism and Increased Naval Budgets Globally
Fluctuating Oil & Gas Prices
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