Analysis of the European Marine Generator Set Market
The European marine generator set market is mature, thus, has slow growth. Much of the shipbuilding activities have migrated to the Asian countries of South Korea, China, and Japan. Eurozone recession, combined with financing difficulties, is affecting demand for new vessels and, thus, gensets used in Europe. However, Europe has its competitive advantage in building advance ships. Moreover, oil and gas exploration and production activities and growth in renewable energy (especially offshore wind) are key driving factors for ships and vessel production and, thus, gensets in the European market. The study is from 2010 to 2017 and the base year is 2012.
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