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Table of Contents
Marine engines are the machines used in the propulsion of watercraft. It creates the thrust which is used in the displacement of the ship. Marine engine forms the most integral and important part of the ships. Nowadays functionality of Marine engine is not only restricted to propulsion system but also to deliver safety standard to ecosystem and ship. Cost efficiency is also one the main concern hence deliverance of better cost efficiency has become important parameter in selection of Marine Engine.
Based on fuel used for propulsion Marine engines are classified as Heavy Fuel, Intermediate Fuel, Marine Diesel & Marine Gas Oil. Diesel engines contribute the highest share in the segment due to high efficiency, low cost, and easy availability. The diesel engine uses the piston’s sweep of the cylinder from the bdc position up to tdc position to compress the inducted air, raising its pressure and consequent heat to such an extent (1000ºC) that when fuel is injected it immediately ignites.
Diesel engines need a high compression ratio to compress the air sufficiently to reach the temperature for ignition. A 16:1 to 20:1 compression ratio, common to small high-speed diesel engines means that the air has been compressed to one-sixteenth or one-twentieth of its original volume. The wall of the cylinder needs to be a heavy gauge to contain the pressure.
Marine engines are available in 2 stroke and 4 stroke the four-stroke engine takes two complete revolutions of the crankshaft to complete the work cycle. The two-stroke does it in one complete revolution of the crankshaft. This means that a two-stroke engine has twice as many power operations as a four-stroke engine at the same speed, so it may produce more power and acceleration but at the expense of fuel efficiency and reliability.
In growth scenario of market rise in Ship market, international trading, tourism and cost-effective way of transportation are the important reasons for the growth of Marine Engines Market. Asia-Pacific holds the highest share in the market followed by North America and Europe. Technological advancement, growing infrastructure, high–demand and supply scenario and globalisation of businesses are the main factors propelling fuel to market growth. China and South Korea are among the top manufacturers of ships globally which leads to high demand for Marine Engines in Asia-Pacific regions. Africa and Middle East market are expected to contribute small share of overall market. South American Marine Engines Market is expected to grow at constant rate in the forecasted period.
Marine Engine Market: Fuel Type
Marine Engine Market: Vessel Type
Marine Engine Market: Stroke Type
Marine Engine Market : Competitive Analysis
The report includes an accurate analysis of key players with Market Value, Company profile, and SWOT analysis. The Study consists of following key players in the Marine Engine Market:
Geographical analysis of Marine Engine Market:
Global Marine Engine Market Report delivers a comprehensive analysis of the following parameters:
Parameters | Details |
---|---|
Base Year |
2024 |
Historical Data |
2018-2023 |
Forecast Data |
2024-2030 |
Base Year Value (2024) |
USD 15500.49 million |
Forecast Value (2031) |
USD 20535.28 million |
CAGR (2025-2030) |
4.1 % |
Regional Scope |
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Marine Engine Market was valued at around USD 15500.49 million in 2023 & estimated to reach USD 20535.28 million by 2030.
Marine Engine Market is likely to grow at Compound Annual Growth Rate (CAGR) of 4.1% between 2024 to 2030.
Marine Engine Market is dominated by the Diesel segment and the North America region holds the highest market share in 2023.
Some of the top key players in the Marine Engine Market are Mercury Marine, Sumitomo Heavy Industries, Cummins Inc, Roll Royce limited, Hyundai Heavy Industries, GM Power Train, Caterpillar Corporate, Mitsubishi Heavy Industries, MAN Diesel & Turbo SE, Wartsila Corporation.
Primary driving factors for the growth of the Marine Engine Market include Technological advancement, growing infrastructure, high?demand and supply scenario and globalisation of businesse.
Yes, the report includes COVID 19 impact on the market.
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