Marine Fuel Injection System Market by Application (Inland Waterways, Commercial Vessels and Offshore Support Vessels), by Component (Fuel Injector, Fuel Valves, Fuel Pump and Others), by HP Range and by Region - Trend and Forecasts to 2021
The marine fuel injection market is expected to reach a value of USD 5.20 billion by 2021, at a CAGR of 3.9 from 2016 to 2021. Growth of the shipbuilding industry and increasing international maritime trade are the major factors driving the market. Moreover, stringent emission norms imposed by International Maritime Organization would also boost the demand for new marine fuel injection.
“Commercial vessel application, the largest marine fuel injection market during the forecast period”
Commercial vessel applications have the most powerful and high capacity marine engines compared to other applications. With rise in international sea borne trade, the demand for commercial vessels is increasing, driving the marine fuel injection market. Meanwhile, as China, South Korea, Japan, and Indonesia are the major manufacturing countries of commercial vessels; the demand for fuel injection systems is more in these countries.
“Asia-Pacific to dominate the marine fuel injection market by 2021”
The growth of the shipbuilding industry is a major driver of the marine fuel injection market. More than 60% of global shipbuilding activities is carried out in China, Japan, and South Korea. Further, countries such as the Philippines, Vietnam, Taiwan, and India also have a growing shipbuilding industry. As the shipbuilding industry is concentrated in Asia-Pacific, the demand for marine engines and fuel injection systems is highest in this region. Additionally, European offshore companies are shifting towards Chinese manufacturers, given the need for cost-efficiency. These factors are driving the market for marine fuel injection in Asia-Pacific.
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 & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows:
By Company Type: Tier 1- 25%, Tier2-25%, and Tier 3-50%
By Designation: C-Level-25%, Director Level-37%, and Others*-38%
By Region: Americas-25%, EMEA: 25%, Asia-Pacific-20%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies has been defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = <USD 1 billion
Major leading players of this industry have been profiled with their recent developments and other strategic activities. The most active companies in the market include Cummins Inc. (U.S.), Liebherr International AG (Switzerland), Robert Bosch GmbH (Germany), Rolls-Royce Holding PLC. (U.K.), and Caterpillar Inc. (U.S.), among others.
Why buy this report?
The report identifies and addresses key markets for marine fuel injection, which is useful for suppliers and OEMs to review production and distribution plans
The report includes analysis for key countries by application of marine fuel injection, namely, commercial vessels, offshore support vessels, and inland waterways. It analyzes historical trends and forecasts for 2021, assisting in strategic decision making.
It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from the key global market players. It helps in understanding the competition’s strategies and plan respective initiatives.