Global Onboard Marine Gensets Market Size, Industry Analysis Report, Region Outlook Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3397
Global Onboard Marine Gensets Market will witness growth on account of increasing demand for alternative power supply along with positive outlook toward marine industry. Rising focus toward economically viable generators coupled with growing shipping tourism will complement the industry outlook. In addition, high power output, reduced noise levels, low vibration and launch of new products are few key parameters encouraging the product demand.
Commercial onboard marine gensets market is set to grow owing to increasing maritime business along with rising shipbuilding activities. Voltage stability, compact size and easy installation are some of the major factors positively impacting the business outlook. Rising cross-border trade coupled with the demographic shifts in the global urbanization is further enhancing the market share of these vessels. Moreover, the ongoing retrofitting activities toward the deployment of sustainable systems will drive the product penetration.
Recreational onboard marine gensets market is anticipated to grow on account of evolution in tourism sector along with rising disposable income and enhanced standard of living. Increasing demand for cruise ship owing to shifting customer preferences toward luxury & comfort will augment the industry landscape. In addition, ongoing R&D activities accompanied by technical advancements is further complementing the product adoption.
MDO onboard marine gensets market is projected to expand owing to cost efficiency and easy availability. High efficiency & optimum fuel consumption coupled with series production of generators and faster development rate are some of the key parameters boosting the product installation.
Asia Pacific onboard marine gensets market will witness growth on account of increasing ship building activities specifically in China, Japan and South Korea. In addition, cost-effective production, easy availability of raw material and increasing maritime trade particularly in South East Asia propelling the business growth. Moreover, growing inter-regional trade along with increasing maritime activities are strengthening the industry outlook.
>2,000 rpm onboard marine gensets market is set to expand on account of rising demand for cruise, cargo, fast ferries and commercial vessels. In addition, better life span of generators coupled with higher operational efficiency will encourage the product adoption. Furthermore, compact design along with improved system performance offered by the technology positively influencing the business scenario.
≤500 kW onboard marine gensets market is anticipated to witness growth owing to increasing ship bound trade coupled with rising manufacturing of maritime vessels including tankers, cargo and container vessels. Enhanced overload capacity, faster development rate, frequency stability and reduced noise levels are some of the key factors strengthening the product installment.
Notable participants in global onboard marine gensets market includes Caterpillar, Cummins, Kirloskar, Wärtsilä, Kohler, Scania, Mitsubishi Heavy Industries, DEUTZ, Yanmar, MAN Energy Solutions, Rolls-Royce, Siemens AG, ABB, Sole Diesel, Daihatsu Diesel, Onboard Marine Group Ltd, John Deere.
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