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Report Overview
The global marine propulsion engine market size reached approximately USD 19.81 Billion in 2025. The market is further projected to grow at a CAGR of 3.70% between 2026 and 2035, reaching a value of USD 28.49 Billion by 2035.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
Competitive Landscape
Caterpillar Inc., headquartered in Texas, United States, is one of the leading mining, engineering, and construction equipment manufacturing companies. The company is also involved in the production of marine propulsion engines, industrial gas turbines, and natural gas engines, among others.
Cummins Inc specialises in distributing, manufacturing, and designing marine propulsion engines and diesel and alternate fuel generators. Headquartered in Indianna, United States, the company also specialises in turbo technologies and emission solutions, among others.
General Electric Company, headquartered in Massachusetts, United States, specialises in marine propulsion engines and water treatment equipment, among others. The different divisions of the company include additive manufacturing, power, renewable energy, and aerospace.
Other marine propulsion engine market key players include Rolls-Royce plc, AB Volvo, HD Hyundai Co Ltd., Mitsubishi Heavy Industries Ltd., Societe Internationale des Moteurs Baudouin, Wartsila Corporation, and Daihatsu Diesel Mfg.Co.,Ltd., among others.
Marine Propulsion 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 market reached a value of approximately USD 19.81 Billion in 2025.
The market is projected to grow at a CAGR of 3.70% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach USD 28.49 Billion by 2035.
The major market drivers include rising industrialisation and globalisation and increasing investments by various navies to strengthen their defence capabilities.
The key trends fuelling the growth of the market include increasing investments towards the improvement of inland waterway transportation and rising initiatives to reduce carbon dioxide emissions.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications include passenger ship, cargo or container ship, defence, and offshore vessels, among others.
The key players in the market are Rolls-Royce plc, AB Volvo, HD Hyundai Co Ltd., Mitsubishi Heavy Industries Ltd., Societe Internationale des Moteurs Baudouin, Wartsila Corporation, Caterpillar Inc., Cummins Inc, General Electric Company, and Daihatsu Diesel Mfg.Co.,Ltd., among others.
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