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Report Overview
The marine engine market size reached a value of approximately USD 15.02 Billion in 2025. The market is projected to grow at a CAGR of 3.60% between 2026 and 2035, reaching a value of around USD 21.39 Billion by 2035. The global market is witnessing significant growth, especially in the Asia Pacific region. Demand for both efficient and eco-friendly solutions is expected to result in significant growth in the marine engine market. Asia Pacific leads the way, capturing a significant share of the market. The sector is projected to grow even further amid innovations and increased maritime activities in the region.
Market Size & Forecast
- Market Size in 2025: USD 15.02 Billion
- Projected Market Size in 2035: USD 21.39 Billion
- CAGR from 2026 to 2035: 3.60%
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
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According to BITRE, Australia's annual sea arrivals and departures are projected to increase from 40,000 to 50,000 by 2029-30.
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According to SCIO, China's gross ocean product reached USD 1.31 trillion in 2022, constituting 7.8% of its GDP.
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The National Marine Science Plan 2015-2025 outlined a goal for Australia's marine industry to generate USD 100 billion annually by 2025.
Marine Engines Market Competitive Landscape
The companies are a provider of marine diesel engines and work in various sectors including power and energy, construction industries, industrial machinery, urban infrastructure, and others.
Daihatsu Diesel Mfg. Co., Ltd.: Founded in 1907 and headquartered in Kita-ku, Osaka. The company is involved in manufacturing mainly marine diesel engines and offers products for co-generation and other equipment.
Caterpillar Inc.: Established in 1925 and headquartered in Irving, Texas, the company operates through three main segments: Construction Industries, Resource Industries, and Energy and Transportation, serving diverse sectors with specialized equipment.
Mitsubishi Heavy Industries Group: Founded in 1884 and is headquartered in Chiyoda-ku, Tokyo. The company is operating in various sectors including power and energy, industrial machinery, urban infrastructure, aerospace, and defence.
Cummins Inc.: Founded in 1919 and headquartered in Columbus, Indiana, this company is a global leader in power solutions. It operates through five business segments: Components, Engine, Distribution, Power Systems, and Accelera.
List of Top Marine Engine Companies:
- Hyundai Heavy Industries Engine Machinery
- Caterpillar Inc.
- Mitsubishi Heavy Industries Group
- Cummins Inc.
- Daihatsu Diesel Mfg. Co., Ltd.
- Wärtsilä Corporation
- Deere & Company
- Man Energy Solutions
- Honda Motors Co. Ltd.
- Wartsila
- Kongsberg
- Mahindra Powerol
- General Motors
- Yanmar Holdings Co., Ltd.
- Doosan Infracore
- Others
Marine Engine Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The marine engines market was valued at USD 15.02 Billion in 2025.
The market is projected to grow at a CAGR of 3.60% between 2026 and 2035.
The revenue generated from the market is expected to reach USD 21.39 Billion by 2035.
The major market drivers include increasing number of leisure travellers, the expansion of the maritime transport sector, and the emergence of technologically advanced and highly efficient engines.
The key trends guiding the market include the introduction of stringent government regulations aimed at reducing emissions from marine vessels, the growing consumer awareness regarding the requirement for greener fuels, and the depleting traditional fuel supplies.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is categorised according to the power range, which includes Up to 1,000 HP, 1,001 – 5,000 HP, 5,001 – 10,000 HP, 10,001 – 20,000 HP, and above 20,000 HP.
The market is categorised according to the engine, which includes auxiliary engine and propulsion engine.
Based on the type, the market is divided into two stroke and four stroke.
Based on the fuel, the market is divided into heavy fuel oil, marine diesel oil, intermediate fuel oil, marine gas oil, and others.
The significant applications of marine engines include commercial vessels, offshore support vessels, passenger ship, and navy, among others.
The market key players are the Hyundai Heavy Industries Engine Machinery, Caterpillar Inc., Mitsubishi Heavy Industries Group, Cummins Inc., Daihatsu Diesel Mfg. Co., Ltd., Wärtsilä Corporation, Deere & Company, Man Energy Solutions, Honda Motors Co. Ltd., Wartsila, Kongsberg, Mahindra Powerol, General Motors, Yanmar Holdings Co., Ltd., and Doosan Infracore, among others.
The marine diesel oil category holds a significant share of the market by fuel type.
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