Global Marine Propulsion Engine Market 2024-2028

Global Marine Propulsion Engine Market 2024-2028

The marine propulsion engine market is forecasted to grow by USD 1253.4 mn during 2023-2028, accelerating at a CAGR of 3.2% during the forecast period. The report on the marine propulsion engine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in maritime trade and fleet size, growth in demand for naval vessels in defense, and growing use of lng as a marine fuel.

Technavio's marine propulsion engine market is segmented as below:

• By Application
• Passenger
• Commercial
• Defense
• By Type
• Diesel
• Gas
• By Geographical Landscape
• APAC
• Europe
• North America
• Middle East and Africa
• South America

This study identifies the prospective incorporation of intelligent propulsion systems as one of the prime reasons driving the marine propulsion engine market growth during the next few years. Also, technology focus shifting toward development of dual-fuel engines and adoption of additive manufacturing technique for manufacturing marine vessel components will lead to sizable demand in the market.

The report on the marine propulsion engine market covers the following areas:

• Marine propulsion engine market sizing
• Marine propulsion engine market forecast
• Marine propulsion engine market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading marine propulsion engine market vendors that include AB Volvo, ABB Ltd., BAE Systems Plc, Beta Marine Ltd., Caterpillar Inc., Cummins Inc., Daihatsu Diesel Mfg. Co. Ltd., General Electric Co., Hyundai Heavy Industries Group, IHI Corp., Kawasaki Heavy Industries Ltd., Kongsberg Gruppen ASA, Leonardo DRS Inc., Mitsubishi Heavy Industries Ltd., Porsche Automobil Holding SE, Rolls Royce Holdings Plc, Shandong Heavy Industry Group Co. Ltd., Steyr Motors Betriebs GmbH, Wartsila Corp., and Yanmar Holdings Co. Ltd.. Also, the marine propulsion engine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth. Show more