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Marine Engines Market by Power (<1, 1-5, 5-10, 10-20 & >20) 000 hp, Vessel (Commercial, Offshore), Fuel (Heavy, Intermediate, Marine Diesel and Gas Oil), Engine (Propulsion & Auxiliary), Type (2 & 4-Stroke) & Region - Global Forecast to 2024

Marine Engines Market by Power (<1, 1-5, 5-10, 10-20 & >20) 000 hp, Vessel (Commercial, Offshore), Fuel (Heavy, Intermediate, Marine Diesel and Gas Oil), Engine (Propulsion & Auxiliary), Type (2 & 4-Stroke) & Region - Global Forecast to 2024

“The global marine engines market is projected to grow at a CAGR of 3.11%, from 2019 to 2024.”
The global marine engines market is projected to reach USD 16.4 billion by 2024 from an estimated USD 14.0 billion in 2019, at a CAGR of 3.11%. This growth can be attributed to factors such as growth in international marine freight transport, growth in maritime tourism, and penetration of smart engines for situational awareness and safety. However, stringent environmental regulations worldwide and dependence on heavy fuel as the primary fuel is hindering the growth of the marine engines market.

“The marine diesel oil segment, by fuel, is expected to be the fastest growing market from 2019 to 2024.”
The marine diesel oil segment is expected to hold the second largest market share and the fastest growing segment during the forecast period because of growth in applications such as harbor tugs and push boats. Increasing emission control regulations and continuous revisions in the IMO standards have led to the increasing use of low sulfur oil, such as marine diesel oil and marine gas oil, replacing the use of bunker oil.

“The two-stroke segment is expected to be the largest market from 2019 to 2024.”
The two-stroke segment , by type, is estimated to be the largest and the fastest growing segment during the forecast period. The two-stroke type of marine engine offers high torque at low engine speed, which helps the boats/vessels to cruise at a constant speed without adjusting the engine speed. They can run on low-grade fuel, which helps to keep the overall running cost down. Also, they are more efficient and offer more power.

“Asia Pacific: The largest market for marine engines.”
The Asia Pacific region is expected to be the largest market for marine engines, by 2024. The marine engines market in this region is mainly driven by seaborne trade which has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide. Countries such as China, Japan, and South Korea are considered as the main manufacturing hubs for marine engines. According to World Shipbuilding Statistics, 2016, China accounted for a 33% share of all new shipbuilding orders, globally, thereby making it the largest market for marine engines. The increase in defense spending and the rise in domestic ship production are the key factors contributing to the growth of the marine engine market in the region.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 27%, and Tier 3-13%
By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
By Region: Asia Pacific- 40%, Europe- 15%, North America- 32%, Middle East & Africa- 5%, and South America- 8%

Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017. Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3: <USD 500 million.

The global marine engines market is dominated by a few major players that have a wide regional presence. The leading players in the marine engines market are Hyundai Heavy Industries (South Korea), Caterpillar (US), MAN SE (Germany), Mitsubishi Heavy Industries (Japan), Volvo Group (Sweden), Rolls-Royce (UK), Wärtsilä (Finland), Cummins (US), GE Transportation (US), and Deutz AG (Germany).

Research Coverage:
The report defines, describes, and forecasts the marine engines market, by power range, vessel, fuel, engine, type, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value and future trends in the marine engines market.

Why Buy this Report?
1. The report identifies and addresses key markets for marine engines, which would help various stakeholders such as coal and oil & gas trading companies; consulting companies & associations in the marine industry; cruise & passenger transport companies; environmental research institutes; government & research organizations; international shipping & sea trading organizations; investment firms; marine engine manufacturers; organizations, forums, & alliances; shipbuilding & shipyard industry; state & national regulatory authorities; and vessel designers, owners, and operators to review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • DEFINITION
    • MARKET SCOPE
      • MARKET SEGMENTATION
      • REGIONAL SCOPE
    • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATION
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • MARKET SIZE ESTIMATION
      • IDEAL DEMAND-SIDE ANALYSIS
        • Table SHIP-BUILT DATA ARE THE DETERMINING FACTOR FOR THE GLOBAL MARINE ENGINES MARKET
      • SUPPLY-SIDE ANALYSIS
      • FORECAST
    • SOME OF THE INSIGHTS OF INDUSTRY EXPERTS
  • EXECUTIVE SUMMARY
    • Table MARINE ENGINES MARKET SNAPSHOT
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE MARINE ENGINES MARKET
    • MARINE ENGINES MARKET, BY REGION
    • ASIA PACIFIC MARINE ENGINES MARKET, BY VESSEL & COUNTRY
    • MARINE ENGINES MARKET, BY VESSEL
    • MARINE ENGINES MARKET, BY POWER RANGE
    • MARINE ENGINES MARKET, BY ENGINE
    • MARINE ENGINES MARKET, BY FUEL
    • MARINE ENGINES MARKET, BY TYPE
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • MARINE ENGINES MARKET, BY POWER RANGE
    • INTRODUCTION
      • Table MARINE ENIGNES MARKET SIZE, BY POWER RANGE, 2017-2024 (USD MILLION)
    • UP TO 1,000 HP
      • ASIA PACIFIC HOLDS THE LARGEST REGION FOR UP TO 1,000 HP MARINE ENGINES MARKET
        • Table UP TO 1,000 HP: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • 1,001-5,000 HP
      • EUROPE IS EXPECTED TO HAVE THE SECOND LARGEST MARKET SHARE BY 2024
        • Table 1,001-5,000 HP: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • 5,001-10,000 HP
      • EUROPE IS EXPECTED TO GROW AT THE SECOND FASTEST CAGR FROM 2019-2024
        • Table 5,001-10,000 HP: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • 10,001-20,000 HP
      • ASIA PACIFIC IS EXPECTED TO HAVE THE LARGEST MARKET SHARE BY 2024
        • Table 10,001-20,000 HP: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • ABOVE 20,000 HP
      • EUROPE IS EXPECTED TO GROW AT THE FASTEST CAGR FROM 2019-2024
  • MARINE ENGINES MARKET, BY VESSEL
    • INTRODUCTION
      • Table MARINE ENGINES MARKET SIZE, BY VESSEL, 2017-2024 (USD MILLION)
    • COMMERICAL VESSEL
      • SOUTH AMERICA IS EXPECTED TO GROW AT THE FASTEST CAGR FROM 2019-2024
        • Table COMMERCIAL VESSEL: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • OFFSHORE SUPPORT VESSEL
      • ASIA PACIFIC IS EXPECTED TO DOMINATE THE OFFSHORE SUPPORT VESSEL SEGMENT DURING THE FORECAST PERIOD
        • Table OFFSHORE SUPPORT VESSEL: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • OTHERS
      • EUROPE IS EXPECTED TO HAVE THE SECOND LARGEST MARKET BY 2024
        • Table OTHERS: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • MARINE ENGINES MARKET, BY FUEL
    • INTRODUCTION
      • Table MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
    • HEAVY FUEL OIL
      • ASIA PACIFIC IS EXPECTED TO LEAD THE MARINE ENGINE MARKET DURING THE FORECAST PERIOD
        • Table HEAVY FUEL OIL: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • INTERMEDIATE FUEL OIL
      • SOUTH AMERICA IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIDO
        • Table INTERMEDIATE FUEL OIL: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • MARINE DIESEL OIL
      • NORTH AMERICA IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
        • Table MARINE DIESEL OIL: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • MARINE GAS OIL
      • ASIA PACIFIC IS EXPECTED TO HAVE THE LARGEST MARKET BY 2024
        • Table MARINE GAS OIL: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • OTHERS
      • EUROPE IS EXPECTED TO GROW AT THE HIGHEST CAGR FROM DURING THE FORECAST PERIOD
        • Table OTHERS: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • MARINE ENGINES MARKET, BY ENGINE
    • INTRODUCTION
      • Table MARINE ENGINES MARKET SIZE, BY ENGINE, 2017-2024 (USD MILLION)
    • PROPULSION ENGINE
      • ASIA PACIFIC IS EXPECTED TO HAVE THE HIGHEST CAGR FOR PROPULSION SEGMENT DURING THE FORECAST PERIOD
        • Table PROPULSION ENGINE: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • AUXILIARY ENGINE
      • ASIA PACIFIC IS EXPECTED TO DOMINATE THE AUXILIARY ENGINE SEGMENT DURING THE FORECAST PERIOD
        • Table AUXILIARY ENGINE: MARINE ENGINE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • MARINE ENGINES MARKET, BY TYPE
    • INTRODUCTION
      • Table MARINE ENGINES MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
    • TWO-STROKE
      • ASIA PACIFIC IS EXPECTED TO GROW AT THE FASTEST CAGR DURING THE FORECAST PERIOD
        • Table TWO-STROKE: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • FOUR-STROKE
      • EUROPE IS EXPECTED TO HAVE THE SECOND LARGEST MARKET FOR FOUR-STROKE ENGINES BY 2024
        • Table FOUR-STROKE: MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • MARINE ENGINES MARKET, BY REGION
    • INTRODUCTION
      • Table MARINE ENGINES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • ASIA PACIFIC
      • Table ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY VESSEL, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY ENGINE, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
      • CHINA
        • Table CHINA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • INDIA
        • Table INDIA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • JAPAN
        • Table JAPAN: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • SOUTH KOREA
        • Table SOUTH KOREA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • AUSTRALIA
        • Table AUSTRALIA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • REST OF ASIA PACIFIC
        • Table REST OF ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
    • NORTH AMERICA
      • Table NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY VESSEL, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY ENGINE, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
      • US
        • Table US: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • CANADA
        • Table CANADA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • MEXICO
        • Table MEXICO: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
    • EUROPE
      • Table EUROPE: MARINE ENGINES MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table EUROPE: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2017-2024 (USD MILLION)
      • Table EUROPE: MARINE ENGINES MARKET SIZE, BY VESSEL, 2017-2024 (USD MILLION)
      • Table EUROPE: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • Table EUROPE: MARINE ENGINES MARKET SIZE, BY ENGINE, 2017-2024 (USD MILLION)
      • Table EUROPE: MARINE ENGINES MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
      • GERMANY
        • Table GERMANY: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • ITALY
        • Table ITALY: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • POLAND
        • Table POLAND: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • NETHERLANDS
        • Table NETHERLANDS: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • REST OF EUROPE
        • Table REST OF EUROPE: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
    • MIDDLE EAST & AFRICA
      • Table MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY VESSEL, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY ENGINE, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
      • SAUDI ARABIA
        • Table SAUDI ARABIA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • UAE
        • Table UAE: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • IRAN
        • Table IRAN: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • QATAR
        • Table QATAR: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • NIGERIA
        • Table NIGERIA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • SOUTH AFRICA
        • Table SOUTH AFRICA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • REST OF MIDDLE EAST & AFRICA
        • Table REST OF MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
    • SOUTH AMERICA
      • Table SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2017-2024 (USD MILLION)
      • Table SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY VESSEL, 2017-2024 (USD MILLION)
      • Table SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • Table SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY ENGINE, 2017-2024 (USD MILLION)
      • Table SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
      • BRAZIL
        • Table BRAZIL: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • ARGENTINA
        • Table ARGENTINA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
      • REST OF SOUTH AMERICA
        • Table REST OF SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY FUEL, 2017-2024 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET SHARE ANALYSIS
    • COMPETITIVE SCENARIO
      • Table MAN SE WAS MOST ACTIVE PLAYER IN MARKET BETWEEN 2016 & 2019
      • NEW PRODUCT DEVELOPMENTS
      • MERGERS & ACQUISITIONS
      • CONTRACTS & AGREEMENTS
      • EXPANSIONS & INVESTMENTS
      • OTHERS
  • COMPANY PROFILE
    • HYUNDAI HEAVY INDUSTRIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • CATERPILLAR
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • MAN SE
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • MITSUBISHI HEAVY INDUSTRIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • VOLVO GROUP
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • WÄRTSILÄ
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • DEUTZ AG
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • CUMMINS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • ROLLS-ROYCE
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • JOHN DEERE
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • YANMAR HOLDINGS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • GE TRANSPORTATION
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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