Global Marine Diesel Engines Market Size to hit $8bn by 2025

Marine Diesel Engines Market size is expected to surpass USD 8 billion by 2025, as reported in the latest study by Global Market Insights, Inc.
 

Growing global seaborne trade primarily across developing economies along with positive outlook toward the shipping industry will stimulate the marine diesel engines market demand. As per United Nations Conference on Trade & Development, the global shipping industry handles 80% of the world trade by volume and 70% by revenue. Easy availability along with low cost of diesel makes its adoption viable for ship owners over other alternative fuels. The introduction of regulations to reduce maritime pollution across ECAs has urged the demand for low-emission engines. In order to meet underlined norms industry players have changed their product lines with advanced engines, which include engines with catalytic reactors and scrubbers.


 

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Technological advancements made to manufacture advanced engines on account of factors including greater efficiency and reduced operational costs will fuel the business growth. In addition, favorable economic trends from the emerging economies combined with an upsurge in retrofitting activities to achieve higher operational standards is anticipated to boost the marine diesel engines market landscape.
 

Marine Diesel Engines Market

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High Speed is projected to witness considerable growth amounting over USD 2 billion by 2025. These systems are majorly installed in yachts, small ships, ferries or boats, and fishing vessels. They are compact and use high-quality marine diesel oil fuel to improve the engine performance and efficiency. Innovations, advanced product design and developments made in the diesel engines leading to benefits including low fuel consumption and operating costs will complement the product adoption. For example, in 2018, Wärtsilä introduced its high-speed engine designed to cater to requirements for lower capital expense, limited space & weight and meets the ongoing global emissions regulations.
 

Browse key industry insights spread across 364 pages with 454 market data tables & 48 figures & charts from the report, “Marine Diesel Engines Market Size By Technology (Low Speed, Medium Speed, High Speed), By Application (Merchant [Container Vessels, Tankers, Bulk Carriers, Gas Carriers, Roll On/Roll Off], Offshore [Drilling Rigs & Ships, Anchor Handling Vessels, Offshore Support Vessels, Floating Production Units, Platform Supply Vessels], Cruise & Ferry [Cruise Vessels, Passenger Ferries, Passenger Cargo Vessels], Navy), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, Norway, UK, France, Russia, Denmark, China, Japan, South Korea, India, Australia, Vietnam, UAE, Saudi Arabia, Iran, Angola, Egypt, South Africa, Mexico, Brazil, Argentina) Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025 in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-diesel-engine-market
 

Cruises and Ferries will grow owing to factors including improved standards of living coupled with rising the disposable incomes. Favorable government policies to develop marine tourism along with increasing number of passenger traffic in countries including Bahamas, Cuba, T&T, Jamaica, and other nations will propel the business landscape. Growth in government funding and incentive programs to strengthen the national security along with advanced shipping line is set to propel the product demand. For instance, in 2019, the U.S. government announced to spend USD 20 billion to improve the U.S. Naval Ships.
 

China marine diesel engines market will witness substantial growth amounting over USD 1 billion by 2025.  Mass building of standard ships owing to low labor costs, favorable government policies and low-cost technology is the major factor driving the product adoption. Healthy orderbook on account of presence of skilled labor accompanied with increasing shipbuilding activities in countries including Vietnam, India and Taiwan among others will complement the industry landscape. Growing containerized consumer goods and rising demand for merchant ships are some of the factors that further strengthen the industry scenario.
 

Key industry manufacturers for the global market comprises SOVCOMFLOT, Wärtsilä, Mediterranean Shipping Company S.A., Teekay Corporation, MAN Energy Solutions, Volvo Pentmartia, Rolls Royce, IHI Corporation, STX Engines, Hyundai Heavy Industries, Kawasaki Heavy Industries, John Deere, Scania, Shoei Kisen, Sinokor Merchant Marine and Neptune Orient Lines among others.
 

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The marine diesel engines industry research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2014 to 2024, for the following segments:
 

By Technology

  • Low speed
  • Medium speed
  • High speed

By Application

  • Merchant
  • Container Vessels
  • Tankers
  • Bulk Carriers
  • Gas Carriers
  • Roll On/Roll Off
  • Offshore
  • Drilling Rigs and Ships
  • Anchor Handling Vessels
  • Offshore Research Vessels
  • Floating Production Units
  • Platform Supply Vessels
  • Cruise & Ferries
  • Cruise Vessels
  • Passenger Ferries
  • Cargo Ferries
  • Fast Ferries
  • Yachts
  • Navy
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Italy
    • Norway
    • France
    • Russia
    • Denmark
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Vietnam
  • Middle East
  • Saudi Arabia
    • UAE
    • Iran
    • Angola
    • Egypt
    • South Africa
  • Latin America
    • Brazil
    • Argentina
    • Mexico

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