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Global Marine Power Systems Market 2017-2021

Global Marine Power Systems Market 2017-2021

About Marine Power Systems

The marine auxiliary engine is used to generate electricity onboard marine vessels, which is termed as an auxiliary unit. Initially, steam turbine propulsion was used, which was later replaced by diesel, LNG, nuclear, and other fuels. Nuclear propulsion is used for naval purposes for its fast movement, and the other type of fuel ships are used for the commercial purposes. The auxiliary unit is designed to support the main engine and to ensure the proper functioning of the ship. It is widely used in tankers, containers, and cargo carriers. The auxiliary unit includes the pumps, compressor, and blowers for the circulation of fuels and fresh and sea water in the cooling system. In addition, it has a separator to remove dirt from the fuel oil, which is referred as the heart of the ship. The marine auxiliary engine works on heavy fuel oil (HFO) or diesel.

Technavio’s analysts forecast the global marine power systems market to grow at a CAGR of 4.32% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global marine power systems market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of marine power systems.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Marine Power Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Caterpillar
  • Cummins
  • Hyundai Heavy Industries
  • MAN Diesel and Turbo
  • Mitsubishi Heavy Industries
  • Rolls-Royce
  • Wärtsilä
Other prominent vendors
  • Daihatsu
  • Doosan
  • Dresser-Rand
  • Fairbanks Morse Engine
  • Hydraulic Marine Systems
  • Hydrosta
  • Ingeteam
  • Masson Marine
  • MEGATECH
  • Mercury Marine
  • Niigata Power Systems
  • Samsung Heavy Industries
  • Siemens
  • Volvo Penta
  • Yamaha
Market driver
  • Surge in commercial shipping
  • For a full, detailed list, view our report
Market challenge
  • Collapse of Greek shipbuilding industry
  • For a full, detailed list, view our report
Market trend
  • Gradual adoption of LNG over conventional marine fuel
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Marine Power Systems Market 2017-2021

Technavio recognizes the following companies as the key players in the global marine power systems market: Caterpillar, Cummins, Hyundai Heavy Industries, MAN Diesel and Turbo, Mitsubishi Heavy Industries, Rolls-Royce, and Wärtsilä

Other Prominent Vendors in the market are: Daihatsu, Doosan, Dresser-Rand, Fairbanks Morse Engine, Hydraulic Marine Systems, Hydrosta, Ingeteam, Masson Marine, MEGATECH, Mercury Marine, Niigata Power Systems, Samsung Heavy Industries, Siemens, Volvo Penta, and Yamaha

Commenting on the report, an analyst from Technavio’s team said: “One of the most exciting trends in the global marine power systems market is the adoption of hybrid propulsion systems. The increasing use of hybrid marine propulsion engines can be attributed to the high pollution caused by diesel propulsion engines. Many major ports worldwide and maritime authorities are implementing standards for vessels that operate in designated areas, compelling shipping operators to comply with the emission guidelines in those areas.”

According to the report, the growth of global commercial shipping is a direct effect of globalization. Since economies worldwide are interlinked, global trade volumes are also affected by the condition of the global economy. International trade also rises along with economic expansion in which seaborne trade plays a crucial role. Therefore, economic development and growth have resulted in enormous opportunities for the marine industry, especially due to the global demand and supply of commodities and manufactured goods.

Further, the report states that the oil and gas industry has been exhibiting a volatile business environment. In 2014, the industry faced various price shocks as the crude oil price shot up to $90-$100 per barrel, and then dipped to a modest $60 per barrel by the end of 2014. A further decline in crude oil prices was seen in the following year, with figures dipping to $40-$50 per barrel during the mid-summer period. Prices came down to $40 per barrel by the end of 2015. As a result, oil and gas companies faced a drop of almost 50% in their revenue in the span of one year. Crude oil price further declined to a record $30 per barrel in January 2016. This resulted in exploration and production (E&P) companies resorting to austerity budgets and cutting down on expenditures severely.

Companies Mentioned

Caterpillar, Cummins, Hyundai Heavy Industries, MAN Diesel and Turbo, Mitsubishi Heavy Industries, Rolls-Royce, Wärtsilä, Daihatsu, Doosan, Dresser-Rand, Fairbanks Morse Engine, Hydraulic Marine Systems, Hydrosta, Ingeteam, Masson Marine, MEGATECH, Mercury Marine, Niigata Power Systems, Samsung Heavy Industries, Siemens, Volvo Penta, and Yamaha

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
  • Market landscape
    • Market size and forecast
      • Table Impact of global marine propulsion engine market and global marine auxiliary engine market on global marine power systems market, 2016-2021 ($ millions)
      • Table Global shipbuilding orders 2011-2015 (in GT)
      • Table Demand for new shipbuilding
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by end-user
    • Market overview
      • Table Global marine power systems market share by end-user 2016 and 2021 (%)
    • Commercial ship
      • Table Global marine power systems market by commercial ships 2016-2021 ($ millions)
    • Leisure ship
      • Table Cruising industry: Market outlook by geography (number of passengers)
      • Table Global marine power systems market by leisure ships 2016-2021 ($ millions)
  • Geographical segmentation
    • Market overview
      • Table Global marine power systems market share by geography 2016 and 2021 (%)
    • APAC
      • Table Marine power systems market in APAC 2016-2021 ($ millions)
    • EMEA
      • Table Marine power systems market in EMEA 2016-2021 ($ millions)
    • Americas
      • Table Marine power systems market in Americas 2016-2021 ($ millions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
      • Table Global CAPEX spending in oil and gas industry 2010-2016 ($ billions)
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Growing marine hybrid propulsion market
    • Emergence of dual-fuel engines
    • Gradual adoption of LNG over conventional marine fuel
    • Turbocharger in marine auxiliary engines
  • Vendor landscape
    • Competitive landscape
      • Table Key vendors
      • Table Key highlights for vendors
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Caterpillar
      • Table Caterpillar: Product portfolio
    • Cummins
    • Hyundai Heavy Industries
    • MAN Diesel & Turbo
    • Mitsubishi Heavy Industries
    • Rolls-Royce
    • Wärtsilä
  • Appendix
    • List of abbreviations
  • Explore Technavio

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