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Marine Gensets Market Analysis

  • Report ID: GMI4014
  • Published Date: May 2023
  • Report Format: PDF

Marine Gensets Market Analysis

Marine gensets market share from the MDO fuel segment accounted for USD 4 billion in 2022, stimulated by the widespread use of these systems in high- and medium-speed marine engines with sulfur concentrations between 0.3% and 2.0% m/m. With its lower pricing, reduced pollution output, improved thermal, and oxidative stability, diesel oil has significantly risen in use in the marine industry.


Marine gensets market share from the 1,000 kW – 5000 kW power rating segment is expected to surpass USD 3 billion by 2032. Recreational boats are gaining high demand owing to the expanding maritime tourism sector, which will encourage the installation of these marine generator sets. The need for gensets will be further fueled by the rising demand for tugboats, submarines, and yachts, particularly in emerging countries.


Marine Gensets Market Share, By Application, 2022

Marine gensets market share from the merchant application segment will exceed USD 4 billion by 2032. The need for marine commercial boats will be boosted by the expansion of seaborne trade, particularly between developing nations, and the high growth of shipbuilding activity. The potential of the sector will increase due to demographic changes in global urbanization and growth in cross-border transportation. The surge in seaborne transportation will also rise on account of increasing imports and exports across the globe.


Asia Pacific Marine Gensets Market Share, By Power Rating, 2032 (USD Million)

Asia Pacific marine gensets market size will cross USD 5 billion by 2032, owing to an upbeat outlook for the shipping sector as well as expanding seaborne trade. Product development will be further fueled by the gradual move toward the adoption of sustainable systems with a goal of reducing airborne emissions. The construction of navy ships, freighters, and tugboats will result in a solid order book, which will increase demand for cutting-edge equipment. In 2022, China started expanding its massive shipyard, Jiangnan shipyard, as it is important for the Chinese Navy. The yard will build cruisers, aircraft carriers, submarines, and destroyers.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of marine gensets was around USD 6.3 billion in 2023 and will witness more than 9.2% CAGR from 2024 to 2032.

The merchant application segment will cross USD 4 billion by 2032, led by the expansion of seaborne trade and shipbuilding activities.

Asia Pacific marine gensets industry size will exceed USD 5 billion by 2032 in view of an upbeat outlook for the shipping sector as well as proliferating seaborne trade.

Cummins, MAN Energy Solutions, Rolls-Royce, Volvo Penta, Caterpillar, Weichai Holding Group, Kirloskar, Société Internationale des Moteurs Baudouin, Wärtsilä, ABB, and Deere & Company are some of the key manufacturers of marine gensets.

Marine Gensets Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 24
  • Tables & Figures: 1576
  • Countries covered: 27
  • Pages: 950
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