Precedence Research recently published a report on “Marine Propulsion Engines Market Size, Share and Growth Analysis (By Product: Diesel Propulsion Engine, Gas Turbine Propulsion, Wind and Solar Propulsion, Steam Turbine Propulsion, Fuel Cell Propulsion, Natural Gas Propulsion, and Others) – Global Industry Analysis, Trends, Regional Outlook, and Forecast 2021 – 2030”. Amid the COVID-19 crisis, the global marine propulsion engines market value is projected to reach US$ 43.1 billion by 2030, rising at a CAGR of 3.6% from 2021 to 2030.
Marine propulsion refers to a mechanism or system that is used to generate thrust that propels large ships as well as small boats to sail across the waterways. Modern ships are generally consisting of mechanical systems that are equipped with electric motors or pump-jets as well as they use reciprocating engines as main source of power.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2017 to 2030. This research report evaluates marine propulsion engines market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global marine propulsion engines market for the period from 2017 to 2030. This research study offers historic data for the years 2017 to 2020 along with a forecast from 2021 to 2030 based on value.
Scope of the Study
This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, product, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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Growth Factors
Marine transport is the backbone of international trade. As per the data revealed by the International Chamber of Shipping based in United Kingdom, nearly 90% of the total volume of merchandise trade occurs via sea route owing to its low cost compared to other mode of transports such as rail and road.
Other factors that include prominently rising global population, rapid industrialization particularly in the Asia Pacific region, and liberalization of economies have significantly spurred the rate of trade activities between countries across the globe. The aforementioned factors are likely to further propel the international trade at a rapid rate during the forthcoming years. Hence, the demand for cargo ships and containers that are required for international as well as regional transportation of raw materials and goods are likely to rise during the forecast timeframe. Further, rising need for fuel-efficient and dependent ships are anticipated to prosper the market growth for marine propulsion engines in the upcoming years.
| Report Highlights | Details |
| Market Size | US$ 43.1 Bn by 2030 |
| Growth Rate | CAGR of 3.6% from 2021 to 2030 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product and Regional Outlook |
| Companies Mentioned | BP Shipping, Yamaha, Aegean, Caterpillar, Cummins, Chevron, Hydraulic Marine Systems, Exxon Mobil Corp. (XOM), Hydrosta BV, Ingeteam, Idemitsu |
Report Highlights
Regional Snapshots
Based on geography, the global marine propulsion engines market is studied for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific accounted to held the largest revenue share in the year 2020 and anticipated to maintain its dominance during the analysis timeframe. This is primarily attributed to the key nations that include Japan, China, and South Korea that have emerged as a manufacturing powerhouse within past few years as their economy is largely dependent on the external trade.
Moreover, China is the world’s largest exporting nation and thus requires large number of commercial ships that in turn positively impact the market for marine propulsion engines in the country. Apart from surge in trade activities, countries across the globe are beefing up their naval security by increasing the number of ocean border visits to combat the ocean piracy. As the Asian navies are focusing towards strengthening their defense capabilities, the market for marine propulsion engines expected to gain prominent boost.
On the contrary, North America exhibits slow growth in the global marine propulsion engines market during the forecast time period because of increasing adoption of renewable energy. The government of USA has imposed stringent laws on emission in order to curb the rate of rising pollution. Hence, the usage of renewable energy is being promoted in the region by offering attractive incentives and benefits; however, renewable energy powered propulsion engines are only used as auxiliary engines and not as primary engines. Thus, the marine propulsion engines market in North America anticipated to be hindered by the shifting trend towards renewable energies.
Key Players:
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the marine propulsion engines market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the marine propulsion engines market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Precedence Research has segmented the global Marine Propulsion Engines Market report on the basis of product, and region:
By Product Outlook
Regional Outlook
Key Takeaways
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Marine Propulsion Engines Market, By Product
7.1. Marine Propulsion Engines Market, by Product Type, 2021-2030
7.1.1. Diesel Propulsion Engine
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Gas Turbine Propulsion
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Wind & Solar Propulsion
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Steam Turbine Propulsion
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Fuel Cell Propulsion
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. Natural Gas Propulsion
7.1.6.1. Market Revenue and Forecast (2017-2030)
7.1.7. Others
7.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Marine Propulsion Engines Market, Regional Estimates and Trend Forecast
8.1. North America
8.1.1. Market Revenue and Forecast, by Product (2017-2030)
8.1.2. U.S.
8.1.3. Rest of North America
8.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
8.2. Europe
8.2.1. Market Revenue and Forecast, by Product (2017-2030)
8.2.2. UK
8.2.2.1. Market Revenue and Forecast, by Product (2017-2030)
8.2.3. France
8.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
8.2.4. Rest of Europe
8.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
8.3. APAC
8.3.1. Market Revenue and Forecast, by Product (2017-2030)
8.3.2. India
8.3.2.1. Market Revenue and Forecast, by Product (2017-2030)
8.3.3. China
8.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
8.3.4. Japan
8.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
8.3.5. Rest of APAC
8.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
8.4. MEA
8.4.1. Market Revenue and Forecast, by Product (2017-2030)
8.4.2. GCC
8.4.2.1. Market Revenue and Forecast, by Product (2017-2030)
8.4.3. North Africa
8.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
8.4.4. South Africa
8.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
8.4.5. Rest of MEA
8.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
8.5. Latin America
8.5.1. Market Revenue and Forecast, by Product (2017-2030)
8.5.2. Brazil
8.5.2.1. Market Revenue and Forecast, by Product (2017-2030)
8.5.3. Rest of LATAM
8.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
Chapter 9. Company Profiles
9.1. BP Shipping
9.1.1. Company Overview
9.1.2. Product Offerings
9.1.3. Financial Performance
9.1.4. Recent Initiatives
9.2. Yamaha
9.2.1. Company Overview
9.2.2. Product Offerings
9.2.3. Financial Performance
9.2.4. Recent Initiatives
9.3. Aegean
9.3.1. Company Overview
9.3.2. Product Offerings
9.3.3. Financial Performance
9.3.4. Recent Initiatives
9.4. Caterpillar
9.4.1. Company Overview
9.4.2. Product Offerings
9.4.3. Financial Performance
9.4.4. Recent Initiatives
9.5. Cummins
9.5.1. Company Overview
9.5.2. Product Offerings
9.5.3. Financial Performance
9.5.4. Recent Initiatives
9.6. Chevron
9.6.1. Company Overview
9.6.2. Product Offerings
9.6.3. Financial Performance
9.6.4. Recent Initiatives
9.7. Hydraulic Marine Systems
9.7.1. Company Overview
9.7.2. Product Offerings
9.7.3. Financial Performance
9.7.4. Recent Initiatives
9.8. Exxon Mobil Corp. (XOM)
9.8.1. Company Overview
9.8.2. Product Offerings
9.8.3. Financial Performance
9.8.4. Recent Initiatives
Chapter 10. Research Methodology
10.1. Primary Research
10.2. Secondary Research
10.3. Assumptions
Chapter 11. Appendix
11.1. About Us
11.2. Glossary of Terms
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