Global Marine Gas Engine Market Overview:
Marine engines are the petrol or diesel engines made for operating in marine environment. Marine gas engine converts chemical energy into a mechanical energy by using natural gas and bunker fuel. The natural gas has a clean burning characteristics which as it produces less carbon dioxide and NOx as well as SOx. It act as a power source which propels the vessels over the distance. In the recent years, there has been advancements in engines and fuels that power them due to the environmental concerns. Hence, there is increasing demand of marine gas engine as compared to others which is fuelling the market growth.
- Rising Environmental Concerns is leading to Demand in Gas Engines
- Increasing Demand for New Marine Vessels
- Adoption of Advanced Ships for Combats and National Securities
- Technological Improvements and Operational Efficiency is Affecting the Market Positively
- Strict Government Regulations may hamper the Growth of the Market
- Rising Seaborne Trade is leading to Increase Demand for Ships
- Increasing Number of Marine Travelers
- Availability of Alternative Products Such as Diesel or Petrol Engines
Some of the key players profiled in the report are General Electric (United States), Mitsubishi (Japan), Wartsila (Finland), Caterpillar (United States), Rolls-Royce (United Kingdom), MAN SE (Germany), Cummins (United States), Deutz (Germany), CSIC (Spain) and Yuchai (Singapore). Additionally, following companies can also be profiled that are part of our coverage like Shanghai Diesel Engine (China), RongAn Power (China), Yanmar (Japan), Daihatsu Diesel (Japan), Doosan (South Korea), Scania (Sweden) and Weichai (China). Analyst at AdvanceMarketAnalytics see United States Manufacturers to retain maximum share of Global Marine Gas Engine market by 2024. Considering Market by Speed, the sub-segment i.e. Low speed engines will boost the Marine Gas Engine market. Considering Market by Usage, the sub-segment i.e. Crew Vessel will boost the Marine Gas Engine market. Considering Market by Technology, the sub-segment i.e. Rotational internal combustion engines will boost the Marine Gas Engine market. Considering Market by Ship Type, the sub-segment i.e. Cargo will boost the Marine Gas Engine market. Considering Market by Power, the sub-segment i.e. Up to 1,000 HP will boost the Marine Gas Engine market.
In June 2019, Cummins has entered into the agreement of hydrogenics which is a fuel cell and hydrogen generation equipment provider.
On July 2019, Food safety and Standards Authority of India has planned to launch a scheme for sampling testing and inspection of milk. This scheme will help in strengthening the internal controls at licensed dairy processing establishments.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Marine Gas Engine market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Marine Gas Engine market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.