Global Marine Diesel Engine Market: By Type (Auxiliary and Propulsion),
By Speed (Low-Speed, Medium-Speed and High-Speed), By Stroke (2-Stroke and
4-Stroke), By Application (Cargo Ship, Cruise Ship), and Region.
Marine Diesel Engine Market Research Report- Global
Forecast till 2023
The global Marine
Diesel Engine Market is anticipated surpass a valuation of USD 6,300
million, attaining a CAGR of 3.83% during the forecast period (2018-2023),
Market Research Future (MRFR) unveils in a detailed report. Rising preference
for energy-efficient engine technologies coupled with enforcement of stricter
marine safeguard laws is expected to influence the global marine diesel engine
market going forward. The capacity for marine diesel engine varies from 40 kW
to 416 kW (54hp to 558 hp).
The global marine
diesel engine market is all set to steer forward due to the surging emphasis on
energy-efficient marine engine. Marine diesel engines help to convert thermal
energy into mechanical energy in ships. The rising preferences for energy-efficient
engine technologies and enforcement of strict marine safeguard norms are some
of the major factors encouraging the growth of the marine diesel engine market
globally. Marine diesel engine capacity generally ranges from 40 kW to 416 kW. Depending
on the needs, such engines finds application in ferries, cargo ships, industrial
and small-scale fishing, cruise ships, landing craft, military, and government
boats, search-and-rescue vessels, auxiliary ships, and patrol boats. Such
engines have become a standard among the modern ships. Such factors are
estimated to create growth opportunities for the market.
Global Marine Diesel Engine Market: Segmental Analysis
The global marine
diesel engine market has been segmented on the basis of type, speed, stroke,
and application.
By type, the
marine diesel engine market is segmented into propulsion and auxiliary. Of
these, the auxiliary segment commanded the most significant share, in terms of
revenue. Auxiliary is a vital component in ships and are highly used during
long-distance voyages. The segment is predicted to surpass a valuation of USD
4,000 million by the end of 2023.
By speed, the
marine diesel engine market is segmented into low-speed, medium-speed and
high-speed. Of these, the high-speed segment is predicted to command the
largest share and is anticipated to experience steady growth in the next couple
of years. High-speed capacity is considered a vital aspect of commercial
cruisers. This factor encourages the market growth in a particular segment.
By stroke, the
marine diesel engine market is segmented into 2-stroke and 4-stroke. Of these,
the 4-stroke segment commanded for two-third market share in 2017. The segment
is likely to garner a CAGR of 3.71% by the end of 2023 due to their
high-performance capacity.
By application,
the market is classified into cruise ship, cargo ship, and others. Of these,
cargo ships acquired the lion’s share in 2017 and are predicted to maintain its
position in the long run. The major force behind the segment’s growth is that
cargo ships are extensively used for international trade between nations.
Browse Full
Report at: https://www.marketresearchfuture.com/reports/marine-diesel-engine-market-7662
Competitive
Landscape
Cox Marine, STX
Engine, Deere & Company, Cummins Inc., AGCO Power Inc., Yanmar Co Ltd.,
Honda Motor Co., Ltd., Greaves Cotton Limited, Caterpillar, China Shipbuilding
Industry Group Diesel Engine Co., Ltd., Japan Engine Corporation, Hyundai Heavy
Industries Co., Ltd. and Kirlosker Oil Engines Ltd. are some of the leading
companies mentioned in MRFR’s report.
Regional Outlook
The market has been assessed
in regions such as North America, Europe, Asia Pacific (APAC), the Middle East
& Africa (MEA) and Latin America. The market is likely to be led by APAC
during the projected years. APAC represented more than one-third share of the
market in 2017 and is set to grow at a healthy pace in the forthcoming years.
Increased import and export activities is driving the maritime sector in the
region. Industrialization in countries such as China, India and South Korea has
propelled the seaborne trade in and around APAC. At the same time, improvement
in policy framework for the maritime sector is partly influencing the market
growth APAC. Europe and North America hold the second and third position,
respectively.
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