The market for marine propulsion engines is expected to grow at a CAGR of around 3.7% from 2020 to 2027 and expected to reach the market value of around US$ 14,684.9 Mn by 2027.
Marine propulsion engine is the machine that produces thrust to push the marine vehicles forward. Along with the advancement in technology and global transportation, the present era has several innovative propulsion engines with which a vessel can be fitted with. Moreover, this propulsion engine not only helps in the successful movement of the ship in the water, instead the use of the propulsion engine ensures a better safety standard for the marine ecosystem along with cost-efficiency.
Market Dynamics
The increasing international trade and emergence of developing economies in shipbuilding and related activities is accelerating the market value. The several advantages associated with the marine vessels for transportation of commercial goods like reduced emission of carbon dioxide, carbon monoxide, sulfur oxides, and nitrogen oxides are supporting the market growth. The ships are considered as a safer option in terms of encountering major accidents when compared with trucks and trains are minimal, this leads to the increasing demand in the global market. The rising demand for commercial shipping due to its importance in seaborne trade is further propelling the market value.
On the other side, the stringent environmental and transportation norms are projected to limit the growth to an extent over the estimated period from 2020 to 2027.
Diesel Propulsion accounted for the maximum share in the global Marine Propulsion Engines market
Diesel Propulsion is the leading segment by a power source in the marine propulsion engines market due to its flexibility in usage that includes all types of vessels along with small and recreational boats. The power source is also projected to maintain its dominance over the estimated timeframe from 2020 to 2027.
Asia Pacific accounted for the maximum revenue share in the Marine Propulsion Engines Market
In 2019, Asia Pacific registered dominating revenue share (%) in the global market and also anticipated to continue with its dominance over the estimated timeframe from 2020 to 2027. The rapidly developing economies of the region including China and India are majorly contributing to the regional market value. The growing number of joint ventures with international brands in the region due to increasing disposable income and infrastructural development is supporting the regional market value. The rising seaborne trade of crude oil mostly from Middle East countries to Asia-Pacific is further contributing to the regional market value. Furthermore, the region is also projected to experience the fastest growth throughout the forecast timeframe from 2020 to 2027.
The players profiled in the report include Caterpillar, Cummins Inc., Daihatsu Diesel Mfg. Co. Ltd., Fairbanks Morse Engine, General Electric Company, Hyundai Heavy Industries Co., Ltd., MAN Diesel & Turbo, Masson-Marine, Mitsubishi Heavy Industries, Ltd., Nigata Power Systems Co., Ltd., Rolls-Royce Plc, Scania, Wärtsilä, and Yanmar Co., Ltd. The major marine propulsion engines players were involved in strategic developments for escalating the profit share in regional as well as global market. The major investments were announced for the technological advancements associated with the changing consumer demand for marine propulsion engines.
Market Segmentation
Market By Power Source
Diesel Propulsion
Gas Turbine Propulsion
Steam Turbine Propulsion
Wind & Solar Propulsion
Fuel Cell Propulsion
Natural Gas
Others
Market By Application
Cargo or Container Ship
Tanker
Bulk Carrier
Offshore Vessel
Passenger Ship
Others (Tugs & Service Ships)
Market By Geography
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
CHAPTER 1. Industry Overview of Marine Propulsion Engines
1.1. Definition and Scope
1.1.1. Definition of Marine Propulsion Engines
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Marine Propulsion Engines Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Marine Propulsion Engines Market By Power Source
1.2.3. Marine Propulsion Engines Market By Application
1.2.4. Marine Propulsion Engines Market by Regions
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restrain 1
3.2.2. Restrain 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Marine Propulsion Engines Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Marine Propulsion Engines Market
3.7. Value Chain Analysis
3.8. Cost Structure Analysis
3.8.1. Proportion of Manufacturing Cost Structure
3.8.1.1. Raw Material
3.8.1.2. Labor Cost
3.8.1.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2019
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2019
4.2. R&D Status and Application Source of Marine Propulsion Engines Major Manufacturers in 2019
CHAPTER 5. Marine Propulsion Engines Market By Power Source
5.1. Introduction
5.2. Marine Propulsion Engines Revenue By Power Source
5.2.1. Marine Propulsion Engines Revenue (US$ Mn) and Forecast, By Power Source, 2016-2027
5.2.2. Diesel Propulsion
5.2.2.1. Diesel Propulsion Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.3. Gas Turbine Propulsion
5.2.3.1. Gas Turbine Propulsion Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.4. Steam Turbine Propulsion
5.2.4.1. Steam Turbine Propulsion Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.5. Wind & Solar Propulsion
5.2.5.1. Wind & Solar Propulsion Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.6. Fuel Cell Propulsion
5.2.6.1. Fuel Cell Propulsion Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.7. Natural Gas
5.2.7.1. Natural Gas Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.8. Others
5.2.8.1. Others Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 6. Marine Propulsion Engines Market Revenue By Application
6.1. Introduction
6.2. Marine Propulsion Engines Revenue (US$ Mn) By Application
6.2.1. Marine Propulsion Engines Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
6.2.2. Cargo or Container Ship
6.2.2.1. Cargo or Container Ship Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.3. Tanker
6.2.3.1. Tanker Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.4. Bulk Carrier
6.2.4.1. Bulk Carrier Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.5. Offshore Vessel
6.2.5.1. Offshore Vessel Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.6. Passenger Ship
6.2.6.1. Passenger Ship Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.7. Others
6.2.7.1. Others Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 7. North America Marine Propulsion Engines Market By Country
7.1. North America Marine Propulsion Engines Overview
7.2. U.S.
7.2.1. U.S. Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016-2027
7.2.2. U.S. Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
7.3. Canada
7.3.1. Canada Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016-2027
7.3.2. Canada Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
7.4. North America PEST Analysis
CHAPTER 8. Europe Marine Propulsion Engines Market By Country
8.1. Europe Marine Propulsion Engines Market Overview
8.2. U.K.
8.2.1. U.K. Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016-2027
8.2.2. U.K. Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
8.3. Germany
8.3.1. Germany Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016-2027
8.3.2. Germany Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
8.4. France
8.4.1. France Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016-2027
8.4.2. France Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
8.5. Spain
8.5.1. Spain Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016-2027
8.5.2. Spain Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
8.6. Rest of Europe
8.6.1. Rest of Europe Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016-2027
8.6.2. Rest of Europe Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
8.7. Europe PEST Analysis
CHAPTER 9. Asia Pacific Marine Propulsion Engines Market By Country
9.1. Asia Pacific Marine Propulsion Engines Market Overview
9.2. China
9.2.1. China Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
9.2.2. China Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
9.3. Japan
9.3.1. Japan Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
9.3.2. Japan Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
9.4. India
9.4.1. India Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
9.4.2. India Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
9.5. Australia
9.5.1. Australia Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
9.5.2. Australia Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
9.6. South Korea
9.6.1. South Korea Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
9.6.2. South Korea Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
9.7. Rest of Asia-Pacific
9.7.1. Rest of Asia-Pacific Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
9.7.2. Rest of Asia-Pacific Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
9.8. Asia Pacific PEST Analysis
CHAPTER 10. Latin America Marine Propulsion Engines Market By Country
10.1. Latin America Marine Propulsion Engines Market Overview
10.2. Brazil
10.2.1. Brazil Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
10.2.2. Brazil Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.3. Mexico
10.3.1. Mexico Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
10.3.2. Mexico Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.4. Rest of Latin America
10.4.1. Rest of Latin America Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
CHAPTER 11. Middle East & Africa Marine Propulsion Engines Market By Country
11.1. Middle East & Africa Marine Propulsion Engines Market Overview
11.2. Saudi Arabia
11.2.1. Saudi Arabia Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
11.2.2. Saudi Arabia Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
11.3. UAE
11.3.1. UAE Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
11.3.2. UAE Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
11.4. Rest of Middle East & Africa
11.4.1. Rest of Middle East & Africa Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Power Source, 2016 - 2027
11.4.2. Rest of Middle East & Africa Marine Propulsion Engines Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
CHAPTER 12. Player Analysis Of Marine Propulsion Engines
12.1. Marine Propulsion Engines Market Company Share Analysis
12.2. Mergers And Acquisition In Global Marine Propulsion Engines Market
CHAPTER 13. Company Profile
13.1. Caterpillar
13.1.1. Company Snapshot
13.1.2. Business Overview
13.1.3. Financial Overview
13.1.3.1. Revenue (US$ Mn), 2019
13.1.3.2. Caterpillar 2019 Marine Propulsion Engines Business Regional Distribution
13.1.4. Product/ Service and Specification
13.1.5. Manufacturing Plant Footprint Analysis
13.2. Cummins Inc.
13.3. Daihatsu Diesel Mfg. Co. Ltd.
13.4. Fairbanks Morse Engine
13.5. General Electric Company
13.6. Hyundai Heavy Industries Co., Ltd.
13.7. MAN Diesel & Turbo
13.8. Masson-Marine
13.9. Mitsubishi Heavy Industries, Ltd.
13.10. Others
