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Marine Engines Market: COVID-19 Impact and Global Analysis Forecast to 2028

Published Date: May 2021

No. of Pages: 205

Status: Upcoming

Report Code: EMR100197

Marine engines are type of mechanical engines that helps in the supply of power to several types of supporting equipment, generators, vessels, propulsion systems and central units to maritime undertakings and vehicles. Several types of marine engines do widely exist in the market that helps in serving numerous distinct purposes of several marine systems and vehicles. Marine engines are categorized by different conditions, for instance the propulsion system type in use, fuel required to power the engine, power limit of the engine and other major applications. The employment of renewable sources of energy including wind and solar energy to fulfil the auxiliary requirements of power is anticipated to increase over the coming years, thus in return bolstering the growth marine engines market globally. Increasing surge in rise or in effect as well as operationally dependable ships is probable in lead for transformation over the foreseeable years. Furthermore, growing emphasis on growing diesel engine ability to drive innovative and new generation tanks with massive cargo carrying capacities is further predicted to propel the development of the global marine engines market.

Surge in the quantity of relaxation marine wanderers, advent of rise in advanced technology and hasty expansion of the seaborne transport industry, highly consistent engines, growing per capita disposable earnings and economic stability throughout the globe are some of the key aspects driving the progression of the global marine engines market in the preceding few years. Although, strict governmental regulations and legislations concerning harmful emissions from marine engines as well as mounting awareness among consumers about the demand for the implementation of the greener fuels as well as reducing reserves in traditional oils are more probable to boost the growth of the marine engines market globally. The global marine engines market is expected to foresee huge number of expansions in products which imitate to the stringent legislator guidelines regarding the emission of gases as well as work with comparatively greener fuels such as wind power, LNG and solar among others. Additionally, some of the other key factors contributing to the growth of the global market include spare parts, skilled professionals for fixing marine engines and easy availability of repair networks across the globe.

The global marine engines market can be segmented based on fuel, power, application and geography. Based on fuel, the marine engines market can be segmented globally into heavy fuel oil, intermediate fuel oil, marine gas oil, marine diesel oil and others. Based on power, the global marine engines market can be segmented as above 20,000 HP, 10,001 HP to 20,000 HP, 5,001 HP to 10,000 HP, 1,001 HP to 5,000 HP, 1,000 HP. Based on application, the global marine engines market can be segmented into offshore support vessels along with commercial vessels and other vessels. Based on geography, the global marine engines market can be segmented into Europe, Asia-Pacific, North America and Rest of the World.

Some of the key players in the global marine engines market include Hydraulic Marine Systems, Sinopec, GM Powertrain, Idemitsu, Caterpillar, Inc., Wartsila Corporation, Exxon Mobil Corporation, Yamaha, Volvo Penta, ShellHydrosta BV, Cummins Engines, Rolls Royce, Hydraulic Marine Systems and Cummins among others.

The global marine engines market can be segmented

By Fuel:
• Heavy fuel oil
• Intermediate fuel oil
• Marine gas oil
• Marine diesel oil
• Others

By Power:
• 20,000 HP
• 10,001 HP to 20,000 HP
• 5,001 HP to 10,000 HP
• 1,001 HP to 5,000 HP
• 1,000 HP

By Application:
• Offshore support vessels
• Commercial vessels
• Other vessels

By Region:
• Europe
• Asia-Pacific
• North America
• Rest of the World

The Leading Key Players in Marine Engines Market

Hydraulic Marine Systems
GM Powertrain
Caterpillar Inc.
Wartsila Corporation
Exxon Mobil Corporation
Volvo Penta
ShellHydrosta BV
Cummins Engines
Rolls Royce
Hydraulic Marine Systems