0

Marine Propulsion Engine Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR44856
Technavio

Enjoy complimentary customisation on priority with our Enterprise License!

Safe and Secure SSL Encrypted

info
close
  • Single User:

    Quick and easy buy and download option

  • Enterprise:

    Flexible option - Complimentary customization included

2500 USD

The marine propulsion engine market share is expected to increase by USD 1.34 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.87%.

This marine propulsion engine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers marine propulsion engine market segmentation by type (diesel and gas) and geography (APAC, Europe, North America, MEA, and South America). The marine propulsion engine market report also offers information on several market vendors, including AB Volvo, BAE Systems Plc, Beta Marine Ltd., Caterpillar Inc., Cummins Inc., General Electric Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Wartsila Corp., and Yanmar Holdings Co. Ltd. among others.

What will the Marine Propulsion Engine Market Size be During the Forecast Period?

Marine Propulsion Engine Market Size

Download Report Sample to Unlock the Marine Propulsion Engine Market Size for the Forecast Period and Other Important Statistics

 

Marine Propulsion Engine Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increase in maritime trade and fleet size is notably driving the marine propulsion engine market growth, although factors such as marpol regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the marine propulsion engine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Marine Propulsion Engine Market Driver

An increase in maritime trade and fleet size is one of the key factors driving the growth of the global marine propulsion engine market. International seaborne trade is witnessing health growth year over a yearly basis. In 2019, about 11 billion tons of cargo were traded using maritime facilities, an increase of about 4% from 2018. Key factors propelling seaborne trade volumes include rapid industrialization and the liberalization of economies, which is increasing the trade volume between countries. Improved fuel efficiency and the development of multifuel engines have made shipping an efficient mode of transportation. Emerging countries in Asia exhibit the highest demand for seaborne trading. The demand for goods and raw materials is rising in emerging economies owing to the increasing population in these countries. This is increasing the need for building cargo ships or containers or bulkers, which are large in size. The larger size of the shipping vessels is critical in achieving better trade efficiency. The large size of vessels has a direct impact on the growth of the volume of goods that are ferried in one trip. Such factors are expected to positively impact the global marine propulsion engine market during the forecast period.

Key Marine Propulsion Engine Market Trend

Prospective incorporation of intelligent propulsion systems will fuel the global marine propulsion engine market growth. With the advent of automation technology and digital analytics, marine propulsion engine manufacturers are focusing on the development of intelligent propulsion systems. Future engines will be an integral part of the integrated and intelligent propulsion system that efficiently meets IMO Tier-III/EPA Tier 4 requirements for a marine engine. OEMs expect that there will be a significant increase in the integration of automation and digital analytics in the future to produce engines that will be compliant with various standards, providing proper compliance documentation. Engines as well as propellers, which are integral parts of an intelligent propulsion system, are expected to undergo design enhancements based on computational fluid dynamics, power management, engine optimization units, and marine asset intelligence. For instance, Caterpillar offers the multi-engine optimizer (MEO) that utilizes data from detailed fuel maps to determine optimal load points for constant speed or variable speeds and helps the engine to operate at the most efficient load point. The above factors will increase the market growth during the forecast period.

Key Marine Propulsion Engine Market Challenge

MARPOL regulations are major challenges for the global marine propulsion engine market growth. The increasing awareness about environmental pollution has led to ramifications on pollution in seas and oceans globally, with a significant focus on marine pollution caused by ships and other marine vessels. Marine propulsion engines use diesel as the major fuel source. Most ships run on diesel engines. Such engines emit nitrous oxides, particulate matter, carbon oxides, hydrocarbons, and sulfur oxides that are not compliant with EPA's air quality standards. These harmful emissions are a major source of ozone depletion leading to global warming. The most significant international regulation that governs and addresses issues related to marine pollution is the International Convention on the Prevention of Pollution from Ships or MARPOL. The MARPOL convention has a total of six annexes, each dealing with pollutants that result from accidents or routine operations. Such requirements are also defined in the North American Emission Control Area (ECA), which applies to ships operating in US waters and within 200 nautical miles along the North American coastline, including Canada.

This marine propulsion engine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global marine propulsion engine market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the marine propulsion engine market during the forecast period.

Who are the Major Marine Propulsion Engine Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AB Volvo
  • BAE Systems Plc
  • Beta Marine Ltd.
  • Caterpillar Inc.
  • Cummins Inc.
  • General Electric Co.
  • Mitsubishi Heavy Industries Ltd.
  • Rolls-Royce Plc
  • Wartsila Corp.
  • Yanmar Holdings Co. Ltd.

 

This statistical study of the marine propulsion engine market encompasses successful business strategies deployed by the key vendors. The marine propulsion engine market is fragmented and the vendors are deploying growth strategies such as introducing products with new features and innovative technologies to compete in the market.

Product Insights and News

  • AB Volvo - The company offers marine propulsion engine products under the brand name Penta IPS.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The marine propulsion engine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Marine Propulsion Engine Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the marine propulsion engine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global industrial machinery market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Marine Propulsion Engine Market?

Marine Propulsion Engine Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

69% of the market’s growth will originate from APAC during the forecast period. China, South Korea (Republic of Korea), and Japan are the key markets for marine propulsion engine market in APAC. Market growth in this region will be faster than the growth of the market in regions.

An increase in maritime trade and fleet size will facilitate the marine propulsion engine market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in the region witnessed certain challenges due to the COVID-19 pandemic in 2020. Moreover, the prevailing trade tensions between the US and China reduced the number of maritime exports from China to the US. Such factors led to a reduction in maritime investments, thereby negatively impacting the regional market in focus last year. However, operations in various industries restarted gradually by the end of 2020 with a limited capacity while maintaining social distancing norms. This is expected to stabilize the growth of the regional market during the forecast period.

What are the Revenue-generating Type Segments in the Marine Propulsion Engine Market?

Marine Propulsion Engine Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The marine propulsion engine market share growth in the diesel segment will be significant during the forecast period. Diesel is the most widely used fuel type by the marine sector for propulsion engines onboard. It costs lesser than any other form of fuel, and hence, has widespread popularity and acceptance.

This report provides an accurate prediction of the contribution of all the segments to the growth of the marine propulsion engine market size and actionable market insights on post COVID-19 impact on each segment.

 

Marine Propulsion Engine Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3.87%

Market growth 2021-2025

$ 1.34 billion

Market structure

Fragmented

YoY growth (%)

2.85

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 69%

Key consumer countries

China, South Korea (Republic of Korea), Japan, Germany, and US

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB Volvo, BAE Systems Plc, Beta Marine Ltd., Caterpillar Inc., Cummins Inc., General Electric Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Wartsila Corp., and Yanmar Holdings Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request PDF sample

What are the Key Data Covered in this Marine Propulsion Engine Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive marine propulsion engine market growth during the next five years
  • Precise estimation of the marine propulsion engine market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the marine propulsion engine industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of marine propulsion engine market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Industrial machinery

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 15: Type - Market share 2020-2025 (%)
    • 5.2 Comparison by Type
      • Exhibit 16: Comparison by Type
    • 5.3 Diesel - Market size and forecast 2020-2025
      • Exhibit 17: Diesel - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Diesel - Year-over-year growth 2020-2025 (%)
    • 5.4 Gas - Market size and forecast 2020-2025
      • Exhibit 19: Gas - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Gas - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 21: Market opportunity by Type

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 25: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 31: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 38: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 39: Landscape disruption
          • Exhibit 40: Industry risks
        • 9.3 Competitive Scenario

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 41: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 42: Market positioning of vendors
          • 10.3 AB Volvo
            • Exhibit 43: AB Volvo - Overview
            • Exhibit 44: AB Volvo - Business segments
            • Exhibit 45: AB Volvo - Key offerings
            • Exhibit 46: AB Volvo - Segment focus
          • 10.4 BAE Systems Plc
            • Exhibit 47: BAE Systems Plc - Overview
            • Exhibit 48: BAE Systems Plc - Business segments
            • Exhibit 49: BAE Systems Plc - Key news
            • Exhibit 50: BAE Systems Plc - Key offerings
            • Exhibit 51: BAE Systems Plc - Segment focus
          • 10.5 Beta Marine Ltd.
            • 10.6 Caterpillar Inc.
              • Exhibit 55: Caterpillar Inc. - Overview
              • Exhibit 56: Caterpillar Inc. - Business segments
              • Exhibit 57: Caterpillar Inc. - Key offerings
              • Exhibit 58: Caterpillar Inc. - Segment focus
            • 10.7 Cummins Inc.
              • Exhibit 59: Cummins Inc. - Overview
              • Exhibit 60: Cummins Inc. - Business segments
              • Exhibit 61: Cummins Inc. - Key offerings
              • Exhibit 62: Cummins Inc. - Segment focus
            • 10.8 General Electric Co.
              • Exhibit 63: General Electric Co. - Overview
              • Exhibit 64: General Electric Co. - Business segments
              • Exhibit 65: General Electric Co. - Key offerings
              • Exhibit 66: General Electric Co. - Segment focus
            • 10.9 Mitsubishi Heavy Industries Ltd.
              • Exhibit 67: Mitsubishi Heavy Industries Ltd. - Overview
              • Exhibit 68: Mitsubishi Heavy Industries Ltd. - Business segments
              • Exhibit 69: Mitsubishi Heavy Industries Ltd.- Key news
              • Exhibit 70: Mitsubishi Heavy Industries Ltd. - Key offerings
              • Exhibit 71: Mitsubishi Heavy Industries Ltd. - Segment focus
            • 10.10 Rolls-Royce Plc
              • Exhibit 72: Rolls-Royce Plc - Overview
              • Exhibit 73: Rolls-Royce Plc - Business segments
              • Exhibit 74: Rolls-Royce Plc - Key news
              • Exhibit 75: Rolls-Royce Plc - Key offerings
              • Exhibit 76: Rolls-Royce Plc - Segment focus
            • 10.11 Wartsila Corp.
              • Exhibit 77: Wartsila Corp. - Overview
              • Exhibit 78: Wartsila Corp. - Business segments
              • Exhibit 79: Wartsila Corp. - Key offerings
              • Exhibit 80: Wartsila Corp. - Segment focus
            • 10.12 Yanmar Holdings Co. Ltd.
              • Exhibit 81: Yanmar Holdings Co. Ltd. - Overview
              • Exhibit 82: Yanmar Holdings Co. Ltd. - Product and service
              • Exhibit 83: Yanmar Holdings Co. Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 84: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 85: Research Methodology
                • Exhibit 86: Validation techniques employed for market sizing
                • Exhibit 87: Information sources
              • 11.4 List of abbreviations
                • Exhibit 88: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
              Get your sample now!
              Marine Propulsion Engine market growth will increase by $1341.98 million during 2021-2025.
              The marine propulsion engine market is expected to grow at a CAGR of 3.87% during 2021-2025.
              Technavio has segmented the marine propulsion engine market by type (Diesel and Gas) and geographic (APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America).
              AB Volvo, BAE Systems Plc, Beta Marine Ltd., Caterpillar Inc., Cummins Inc., General Electric Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Wartsila Corp., Yanmar Holdings Co. Ltd. are a few of the key vendors in the marine propulsion engine market.
              APAC will register the highest growth rate of 69.25% among the other regions. Therefore, the marine propulsion engine market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • China
              • South Korea (Republic of Korea)
              • Japan
              • Germany
              • US
              The key factors driving the marine propulsion engine market growth are:
              • Increase in maritime trade and fleet size
              • Prospective incorporation of intelligent propulsion systems
              The marine propulsion engine market vendors should focus on grabbing business opportunities from the diesel segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
              • Off-the-shelf research reports
              • Reports can be tailored to meet the customer's needs
              • Trusted by more than 100 fortune 500 organizations
              • Information about the market's key drivers, trends, and challenges
              • Parent market analysis
              • Every week, 50,000 people visit our subscription platform
              • Detailed vendors report with competitive landscape
              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

              Certified ISO 9001 : 2015

              We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.

              We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.

              Safe and Secure SSL Encrypted
              Technavio

              info
              close
              • Single User:

                Quick and easy buy and download option

              • Enterprise:

                Flexible option - Complimentary customization included

              2500 USD

              Technavio Get the report (PDF) sent to your email within minutes.

              Subscribe & Save

              Get lifetime access to our
              Technavio Insights

              Customized Report as per your Business Needs

              • Our analysts will work directly with you and understand your needs
              • Get data on specified regions or segments, competitor and Vendors
              • Data will be formatted and presented as per your requirements
              • We offer $1000 worth of FREE customization at the time of purchase

              Let us help you make report more suited to your requirements.

              • Get a competitive breakdown as per your niche industry
              • Customize the data with various metrics that meet your business prerequisite
              • Understand Revenue Sources, Customers and many more
              • Details on Market Share
              • These customizations are done in a short amount of time by our analysts and industry experts
              Technavio
              Enquire Before Buying
              17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>