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Global Marine Engines Market: By Power Range; By Engine: Auxiliary Engine, Propulsion Engine; By Type: Two Stroke, Four Stroke; By Fuel: Heavy Fuel Oil, Marine Diesel Oil, Intermediate Fuel Oil, Others; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Marine Engines Market Outlook

The global marine engines industry reached a value of about USD 13 billion in 2020. The industry is further expected to grow at a CAGR of about 3.7% in the forecast period of 2021-2026 to reach a value of around USD 16 billion by 2026.

 

Asia Pacific Leading the Marine Engines Market

Asia Pacific is currently leading the global market and is most likely to lead the market in the forecast period. The growth of the industry in the region could be attributed to the rising shipbuilding industry in the Asian countries like India, South Korea, China, and Japan. The region has a booming maritime industry. Asia Pacific consists of some of the fastest-growing economies in the world, including India, Bangladesh, and China. These countries are leading the world in the export of mineral fuels, electronics, pharmaceuticals, jute, machinery, and automobiles. Due to low labour costs and growing demand for commodities, a large number of manufacturers are present in the region, which is anticipated be a key driver for the market growth in the coming years as well.

 

Marine Engines: Industry Definition and Segmentation

Marine engines are engines which are used in marine vehicles, including ships, propelled boats, and other related vehicles. Marine vessels can be for industrial, security, or personal use. These are used for surveillance, shipping, offshore support, and many similar applications. The type of motor used in such vehicles depends on the size and application of the vehicles.

The power range of marine engines can be divided into the following:

  • Up to 1,000 HP
  • 1,001 – 5,000 HP
  • 5,001 – 10,000 HP
  • 10,001 – 20,000 HP
  • Above 20,000 HP

Based on engine, the industry can be segmented as follows:

  • Auxiliary Engine
  • Propulsion Engine

Based on type, the market can be categorised as follows:

  • Two Stroke
  • Four Stroke

On the basis of fuel type, the marine engine market is divided into:

  • Heavy Fuel Oil
  • Marine Diesel Oil
  • Intermediate Fuel Oil
  • Marine Gas Oil
  • Others

Marine engines find wide applications in the following:

  • Commercial Vessels
  • Offshore Support Vessels
  • Passenger Ship
  • Navy
  • Others

The regional markets for marine engines can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Maritime Industry Bolstering the Market Growth

The increasing number of leisure travellers, the massive expansion of the global maritime transport industry, and the emergence of technologically advanced and highly efficient engines are key factors that are responsible for the growth of the global demand for marine engines. Strong government restrictions on emissions from marine vessels, growing customer awareness of the need to implement greener fuels, and the depletion of traditional fuel supplies are likely to boost the market growth. The global demand for marine engines is expected to witness the development of products which comply with the strict emission regulations and operate with greener fuels including LNG and solar and wind power. Other factors propelling the market growth are economic stability and the increasing disposable incomes of the consumers.

 

Key Industry Players in the Global Marine Engines Market

The report gives a detailed analysis of the following key players in the global marine engines market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Hyundai Heavy Industries Engine Machinery
  • Caterpillar Inc.,
  • Mitsubishi Heavy Industries Group
  • Cummins Inc.
  • Daihatsu Diesel Mfg. Co., Ltd.
  • Wärtsilä Corporation
  • Deere & Company
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Marine Engines Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Marine Engines Historical Market (2016-2020) 
    8.3    Global Marine Engines Market Forecast (2021-2026)
    8.4    Global Marine Engines Market by Power Range
        8.4.1    Up to 1,000 HP
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    1,001 – 5,000 HP
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    5,001 – 10,000 HP
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    10,001 – 20,000 HP
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Above 20,000 HP
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
    8.5    Global Marine Engines Market by Engine
        8.5.1    Auxiliary Engine
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Propulsion Engine
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Marine Engines Market by Type
        8.6.1    Two Stroke
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Four Stroke
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Marine Engines Market by Fuel
        8.7.1    Heavy Fuel Oil
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Marine Diesel Oil
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Intermediate Fuel Oil
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Marine Gas Oil
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2016-2020)
            8.7.4.3    Forecast Trend (2021-2026)
        8.7.5    Others
    8.8    Global Marine Engines Market by Application
        8.8.1    Commercial Vessels
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Offshore Support Vessels
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
        8.8.3    Passenger Ship
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2016-2020)
            8.8.3.3    Forecast Trend (2021-2026)
        8.8.4    Navy
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2016-2020)
            8.8.4.3    Forecast Trend (2021-2026)
        8.8.5    Others
    8.9    Global Marine Engines Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country Kingdom
            9.2.3.1    United 
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Hyundai Heavy Industries Engine Machinery
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Caterpillar Inc.,
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Mitsubishi Heavy Industries Group
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Cummins Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Daihatsu Diesel Mfg. Co., Ltd.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Wärtsilä Corporation
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Deere & Company
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
        12.2.8    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Marine Engines Market: Key Industry Highlights, 2016 and 2026
2.    Global Marine Engines Historical Market: Breakup by Power Range (USD Billion), 2016-2020
3.    Global Marine Engines Market Forecast: Breakup by Power Range (USD Billion), 2021-2026
4.    Global Marine Engines Historical Market: Breakup by Engine (USD Billion), 2016-2020
5.    Global Marine Engines Market Forecast: Breakup by Engine (USD Billion), 2021-2026
6.    Global Marine Engines Historical Market: Breakup by Type (USD Billion), 2016-2020
7.    Global Marine Engines Market Forecast: Breakup by Type (USD Billion), 2021-2026
8.    Global Marine Engines Historical Market: Breakup by Fuel (USD Billion), 2016-2020
9.    Global Marine Engines Market Forecast: Breakup by Fuel (USD Billion), 2021-2026
10.    Global Marine Engines Historical Market: Breakup by Application (USD Billion), 2016-2020
11.    Global Marine Engines Market Forecast: Breakup by Application (USD Billion), 2021-2026
12.    Global Marine Engines Historical Market: Breakup by Region (USD Billion), 2016-2020
13.    Global Marine Engines Market Forecast: Breakup by Region (USD Billion), 2021-2026
14.    North America Marine Engines Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    North America Marine Engines Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Europe Marine Engines Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Europe Marine Engines Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Asia Pacific Marine Engines Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Asia Pacific Marine Engines Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Latin America Marine Engines Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Latin America Marine Engines Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Middle East and Africa Marine Engines Historical Market: Breakup by Country (USD Billion), 2016-2020
23.    Middle East and Africa Marine Engines Market Forecast: Breakup by Country (USD Billion), 2021-2026
24.    Global Marine Engines Market Structure

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