Marine Engine Market Analysis & Forecast 2024-2030

Marine Engine Market by Fuel Type (Intermediate fuel, Marine Diesel, Heavy Fuel, Marine gas oil, Bio-gas fuel) by Vessel Type (Commercial Vessels, Offshore Support Vessels, Inland Waterways Vessels) by Stroke Type ( 2-stroke, 4-stroke) by Industry Analysis, Volume, Share, Growth, Challenges, Trends, and Forecast 2024-2030, Regional Outlook ( North America, Europe, Asia-Pacific, Middle-East, Africa)

Report Code: PSMR- 532          Category: Heavy Industry          Region :  Global         Report Format :                  

 Download Free Sample

 Table of Contents

Global Marine Engine Market is expected to reach USD 20535.28 million by 2031 with CAGR of 4.1 % between 2025 and 2031

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.  


Marine Engine Market

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

  • Intermediate fuel
  • Marine Diesel
  • Heavy Fuel
  • Marine gas oil
  • Bio-gas

Marine Engine Market: Vessel Type

  • Commercial Vessels
  • Offshore Support Vessels
  • Inland Waterways Vessels

Marine Engine Market: Stroke Type

  • 2- stroke
  • 4- stroke

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:

  • 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

Geographical analysis of Marine Engine Market:

  • North America
    • U.S.A
    • Canada
  • Europe
    • France
    • Germany
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South East Asia
  • Latin America
    • Brazil
  • Middle East and Africa

Global Marine Engine Market Report delivers a comprehensive analysis of the following parameters:

  • Market Forecast for 2024-2030
  • Market growth drivers
  • Challenges and Opportunities
  • Emerging and Current market trends
  • Market player Capacity, Production, Revenue (Value)
  • Supply (Production), Consumption, Export, Import analysis
  • End user/application Analysis

Report Coverage

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


Frequently Asked Questions (FAQ)


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.



Purchase Options

    Cloud Access $2450

    Corporate User $3550

        Licence

    Enterprise Licence $4050

Inquire Before Buying

Please fill below details:






    ×
    Free Customization

    We are committed to offering 100 % free customization while purchasing.



      Access FREE Sample

      Receive a detailed insight into the Marine Engine Market research study with our FREE sample report delivered straight to your email. The report covers major market factors such as Revenue, Forecast, Top companies insight, Regional analysis, Market trends & more.

       Download Free Sample




        ×