DUBLIN–(BUSINESS WIRE)–The report “Global Marine Engine Market Report 2022” has been added to from ResearchAndMarkets.com offer.
This report provides strategists, marketers, and senior management with the essential information they need to assess the global marine engine market.
The global marine engine market is expected to grow from $8.76 billion in 2021 to $9.38 billion in 2022 at a compound annual growth rate (CAGR) of 7.06%. The marine engine market is expected to reach $11.10 billion in 2026 at a compound annual growth rate (CAGR) of 4.32%.
Reasons to buy
Get a truly global perspective with the most comprehensive report available on this market covering over 12 geographies.
Understand how the market is affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus diminishes.
Create regional and national strategies based on local data and analysis.
Identify growth segments for investment.
Outperform your competition using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market research.
Benchmark performance against leading competitors.
Use relationships between key data sets for better strategy.
Suitable to support your internal and external presentations with reliable high quality data and analysis
Major players in the marine engine market are Cummins Inc, Caterpillar, Mitsubishi Heavy Industries Ltd, Volvo Penta, Yanmar Holdings Co Ltd, Wartsila, Hyundai Heavy Industries Co Ltd, Daihatsu Diesel Mfg Co Ltd, MAN Energy Solutions, Volkswagen Group, WinGD, Siemens. Energy, Wabtec, Isotta Fraschini Motori, CNPC Jichai Power Company Limited, Bergen Engines, Rolls-Royce Holdings and Bergen Engines.
The marine engine market consists of sales of marine engines by entities (organizations, sole proprietorships, partnerships) that refer to heat engines used to transform thermal energy into mechanical energy by burning fuel to propel a vessel . It is installed or planned to be installed on a marine vessel. Marine engines are categorized as propulsion marine engines, propel or guide the movement of a vessel through the sea, and auxiliary marine engine refers to a marine engine without propulsion.
The main types of marine engines are diesel engines, gas turbines, natural engines and other types of engines. The gas turbine can convert natural gas or other liquid fuels into mechanical energy. These marine engines are used on ships like tankers, bulk carriers, general cargo ships and container ships. The fuel used to power marine engines is classified into heavy fuel oil, intermediate fuel oil, marine diesel, marine gas oil, LNG and other fuel types. Marine engines are categorized into four-stroke and two-stroke with power ranging up to 1,000 HP, 1,001-5,000 HP, 5,001-10,000 HP, 10,001-20,000 HP, and over 20,000 HP.
Asia-Pacific was the largest region in the marine engine market in 2021. The regions covered in the marine engine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The Marine Engines Market research report is one of a series of new reports that provide statistics on the Marine Engines market, including the global Marine Engines industry market size, regional shares, competitors holding marine engine market share, detailed marine engine market segments, market trends and opportunities. , and any other data you may need to thrive in the marine engine industry. This Marine Engines Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Growth in international freight shipping is expected to drive the marine engine market. Maritime freight transport refers to vessels or cargo used to transport goods from one place to another. Sea transport is cheaper and more feasible than rail and air transport for international transport.
According to an article published by the World Economic Forum, in 2021 around 90% of the world’s products were transported by water. Additionally, over the past 20 years, the average size of a container ship has doubled, with the largest ships capable of carrying 24,000 containers. Thus, an increase in international freight shipping will increase the demand for marine engines.
Cloud-based technology to monitor marine engines is the key trend gaining popularity in the marine engine market. Cloud monitoring is a technique for examining, evaluating, and regulating the operational workflow of a cloud-based IT infrastructure. Growing efforts to increase engine capabilities have further led to development initiatives for the design of reliable advanced systems.
For example, in April 2021, Cummins Inc. launched PrevenTech Marine, an advanced remote monitoring solution for marine vessels. PrevenTech Marine remotely monitors assets powered by Cummins, using connectivity, big data, advanced analytics, and IoT, and increases uptime, reduces maintenance costs, and improves the user experience. service.
In January 2022, Langley Holdings, a UK-based industrial engineering and manufacturing group, acquired Bergen Engines AS from Rolls-Royce, for $103 million (€91 million). Through this acquisition, Langley Holdings will achieve its net zero goals and long-term environmental goals through the development of the microgrid industry. Bergen Engines is a Norwegian company that manufactures gasoline and diesel engines for land and naval merchant shipping.
The countries covered in the Marine Engines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
For more information on this report visit https://www.researchandmarkets.com/r/sbdrrw