Marine Propulsion Engine Market
Description
The global marine propulsion engine market has been growing steadily over the past few years. Marine propulsion engine refers to the main engine on ships and boats that generates thrust to propel the vessel through water. The demand for marine engines is directly associated with maritime trade and cruise/leisure boating activities. Rise in international seaborne trade fueled by growing population and globalization has positively impacted the demand for marine transportation, thereby augmenting the need for efficient and reliable marine propulsion engines across cargo ships, tankers, passenger vessels, and others. Furthermore, growth in recreational boating especially in developed economies has strengthened the sales of marine engines used in yachts and motorboats.
Market Dynamics
The global marine propulsion engine market is driven by robust growth in international marine trade volumes and rising consumer demand for recreational boating. Growing trade activities have boosted the demand for cargo ships and tankers for transporting goods through waterways. This has significantly increased the replacement demand for new and efficient marine engines during the upgrade of aging fleets. Additionally, rising maritime tourism and cruising industry has accelerated the production of passenger vessels, thereby fueling the sales of high power marine propulsion engines. However, fluctuating crude oil prices leading to increased operational costs for ship owners and stringent emission norms introduced by IMO for reducing sulfur emissions pose challenges to market growth. Moreover, the ongoing transition toward hybrid and electric ship technologies presents new opportunities in the coming years.
Key features of the study
Market Dynamics
The global marine propulsion engine market is driven by robust growth in international marine trade volumes and rising consumer demand for recreational boating. Growing trade activities have boosted the demand for cargo ships and tankers for transporting goods through waterways. This has significantly increased the replacement demand for new and efficient marine engines during the upgrade of aging fleets. Additionally, rising maritime tourism and cruising industry has accelerated the production of passenger vessels, thereby fueling the sales of high power marine propulsion engines. However, fluctuating crude oil prices leading to increased operational costs for ship owners and stringent emission norms introduced by IMO for reducing sulfur emissions pose challenges to market growth. Moreover, the ongoing transition toward hybrid and electric ship technologies presents new opportunities in the coming years.
Key features of the study
- This report provides in depth analysis of the global marine propulsion engine market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2024 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global marine propulsion engine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include ABC Marine, Caterpillar Inc., Cruise Automation, Doosan Engine, GE Marine, MAN Energy Solutions, Mitsubishi Heavy Industries, Rolls Royce Holdings plc, Samsung Heavy Industries, Wärtsilä Corporation, MTU Friedrichshafen GmbH, Hyundai Heavy Industries, Kawasaki Heavy Industries, Siemens Marine, and Yanmar Holdings Co., Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up gradation, market expansion, and marketing tactics.
- The global marine propulsion engine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global marine propulsion engine market.
- Engine Type Insights (Revenue, USD Bn, 2020 - 2032)
- Diesel Engine
- Gas Turbine
- Hybrid Engine
- Others (including Steam Turbine, Nuclear, etc.)
- Power Output Insights (Revenue, USD Bn, 2020 - 2032)
- Less than 10,000 kW
- 10,000 kW to 30,000 kW
- Above 30,000 kW
- Fuel Type Insights (Revenue, USD Bn, 2020 - 2032)
- Heavy Fuel Oil (HFO)
- Marine Diesel Oil (MDO)
- Liquefied Natural Gas (LNG)
- Others (including Biofuels, etc.)
- Regional Insights (Revenue, USD Bn, 2020 - 2032)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
- Key Players Insights
- ABC Marine
- Caterpillar Inc.
- Cruise Automation
- Doosan Engine
- GE Marine
- MAN Energy Solutions
- Mitsubishi Heavy Industries
- Rolls-Royce Holdings plc
- Samsung Heavy Industries
- Wärtsilä Corporation
- MTU Friedrichshafen GmbH
- Hyundai Heavy Industries
- Kawasaki Heavy Industries
- Siemens Marine
- Yanmar Holdings Co., Ltd.
Table of Contents
172 Pages
- 1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- 2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Engine Type
- Market Snippet, By Power Output
- Market Snippet, By Fuel Type
- Market Snippet, By Region
- 3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New System Launches/Approvals
- 4. Global Marine Propulsion Engine Market, By Engine Type, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2020-2032
- Segment Trends
- Diesel Engine
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Gas Turbine
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Hybrid Engine
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Hybrid Engine
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Others (including Steam Turbine, Nuclear, etc.)
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- 5. Global Marine Propulsion Engine Market, By Power Output, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2020-2032
- Segment Trends
- Less than 10,000 kW
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- 10,000 kW to 30,000 kW
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Above 30,000 kW
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- 6. Global Marine Propulsion Engine Market, By Fuel Type, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2020-2032
- Segment Trends
- Heavy Fuel Oil (HFO)
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Marine Diesel Oil (MDO)
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Liquefied Natural Gas (LNG)
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- Others (including Biofuels, etc.)
- Introduction
- Market Size and Forecast, 2020–2032, (USD Bn)
- 7. Global Marine Propulsion Engine Market, By Region, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, By Region, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2020-2032
- North America
- Regional Trends
- Market Size and Forecast, By Engine Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Power Output, 2020–2032, (USD Bn)
- Market Size and Forecast, By Fuel Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Country, 2020–2032, (USD Bn)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Engine Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Power Output, 2020–2032, (USD Bn)
- Market Size and Forecast, By Fuel Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Country, 2020–2032, (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Engine Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Power Output, 2020–2032, (USD Bn)
- Market Size and Forecast, By Fuel Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Country, 2020–2032, (USD Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Engine Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Power Output, 2020–2032, (USD Bn)
- Market Size and Forecast, By Fuel Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Country, 2020–2032, (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Engine Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Power Output, 2020–2032, (USD Bn)
- Market Size and Forecast, By Fuel Type, 2020–2032, (USD Bn)
- Market Size and Forecast, By Country, 2020–2032, (USD Bn)
- South Africa
- Israel
- GCC Countries
- Rest of the Middle East &Africa
- 8. Competitive Landscape
- Company Profiles
- ABC Marine
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Caterpillar Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Cruise Automation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Doosan Engine
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- GE Marine
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- MAN Energy Solutions
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Mitsubishi Heavy Industries
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Rolls-Royce Holdings plc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Samsung Heavy Industries
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Wärtsilä Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- MTU Friedrichshafen GmbH
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Hyundai Heavy Industries
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Kawasaki Heavy Industries
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Siemens Marine
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Yanmar Holdings Co., Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- 9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
- 10. Research Methodology
- References
- Research Methodology
- About us and Sales Contact
Pricing
Currency Rates
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