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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 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 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:
Based on engine, the industry can be segmented as follows:
Based on type, the market can be categorised as follows:
On the basis of fuel type, the marine engine market is divided into:
Marine engines find wide applications in the following:
The regional markets for marine engines can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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.
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:
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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