
North America Marine Engines Market Research Report Forecast to 2032
Description
North America Marine Engines Market Research Report Forecast to 2032
North America marine engine market was valued at USD 3,495.81 million in 2022 and expected to grow USD 5,744.60 million by 2032 growing at a CAGR of 5.12% over the forecast duration 2023-2032.
The North America Marine Engine market is witnessing steady growth driven by several key factors including increasing demand for commercial vessels, expansion in the recreational boating industry, and advancements in marine engine technology. In recent years, the region has experienced a surge in maritime trade activities, leading to heightened demand for marine engines across various vessel types including cargo ships, tankers, offshore support vessels, and passenger ferries. Moreover, the rising popularity of recreational boating activities, fueled by factors such as improving economic conditions, growing disposable incomes, and rising interest in water-based leisure pursuits, has further bolstered the demand for marine engines in North America.
One of the significant trends shaping the North America Marine Engine market is the increasing adoption of environmentally sustainable propulsion systems. With growing environmental concerns and stringent regulatory standards, there has been a notable shift towards cleaner and more fuel-efficient marine engines. Manufacturers are investing in research and development to develop innovative propulsion technologies such as hybrid propulsion systems, LNG-powered engines, and electric propulsion systems, which offer reduced emissions and lower fuel consumption. Furthermore, the integration of advanced digital technologies such as IoT, AI, and predictive analytics is enabling enhanced monitoring, diagnostics, and optimization of marine engines, thereby improving operational efficiency, and reducing maintenance costs for vessel operators.
However, fluctuations in crude oil prices directly impact operating costs for vessel owners and operators, influencing investment decisions related to engine upgrades and retrofits.
Market Segmentation
Based on Power, the North America Marine Engines market is segmented into 300-600HP, 601-800HP, 801-1000HP, 1001-1400HP, 1401-5000HP, 5001HP - 10,000HP, 10001-20,000HP and Above 20,000 HP.
On the basis of shipyard, the market is categorized into merchant, offshore, cruise & ferry, navy and others.
Based on Displacement, the North America Marine Engines market has been segmented into 4L, 6L, 9L, 13L, 16L and more than 16L.
Based on Distribution Channel, the market is divided into OEM and Aftermarket.
Based on Installation, the market is classified into outboards, inboard, pod drives, stern drives, waterjet and others.
The US Marine Engines market is experiencing significant growth driven by several factors. One of the primary drivers is the increasing demand for recreational boating activities, supported by rising disposable incomes and a growing interest in outdoor leisure pursuits. Additionally, the commercial marine sector, including shipping, transportation, and offshore industries, continues to require efficient and reliable marine engines to power vessels across various applications.
Major Players
The key market players are Caterpillar Inc., Cummins Inc, Wabtec Corporation, AB Volvo, Deere & Company, Deutz AG, Hyundai Heavy Industries, Wärtsilä Oyj Abp, Man SE, and Mitsubishi Heavy Industries Ltd.
Table of Contents
127 Pages
- 1 Executive Summary
- 2 Market Introduction
- 2.1 Definition
- 2.2 Scope Of The Study
- 2.3 Research Objective
- 2.4 Market Structure
- 3 Research Methodology
- 3.1 Overview
- 3.2 Data Flow
- 3.2.1 Data Mining Process
- 3.3 Purchased Database:
- 3.4 Secondary Sources:
- 3.4.1 Secondary Research Data Flow:
- 3.5 Primary Research:
- 3.5.1 Primary Research Data Flow:
- 3.5.2 Primary Research: Number Of Interviews Conducted
- 3.6 Approaches For Market Size Estimation:
- 3.6.1 Revenue Analysis Approach
- 3.7 Data Forecasting
- 3.7.1 Data Forecasting Type
- 3.8 Data Modeling
- 3.8.1 Microeconomic Factor Analysis:
- 3.8.2 Data Modeling:
- 4 Market Dynamics
- 4.1 Introduction
- 4.2 Drivers
- 4.2.1 Increasing Demand For Recreational Boating And Water Sports Activities
- 4.2.2 Growth In Commercial Shipping And Marine Transportation Industries
- 4.3 Restraints
- 4.3.1 Stringent Environmental Regulations Impacting Engine Design And Emissions Control
- 4.3.2 High Initial Investment Costs Deter Small-scale Marine Operators.
- 4.4 Opportunity
- 4.4.1 Increasing Focus On Hybrid And Electric Propulsion Systems.
- 4.4.2 Government Regulations Driving The Shift Towards Cleaner Marine Engines
- 4.5 Impact Analysis Of Covid-19
- 5 Market Factor Analysis
- 5.1 Supply Chain/Value Chain Analysis
- 5.1.1 Raw Material Suppliers
- 5.1.2 Manufacturers
- 5.1.3 Distribution And Supply Chain
- 5.1.4 End-user
- 5.2 Porter’s Five Forces Model
- 5.2.1 Threat Of New Entrants
- 5.2.2 Bargaining Power Of Suppliers
- 5.2.3 Threat Of Substitutes
- 5.2.4 Bargaining Power Of Buyers
- 5.2.5 Intensity Of Rivalry
- 5.3 Emission Standards On Epa Tier- 1, 2, 3 Standards On Us Marine Engine
- 6 North America Marine Engines Market, By Power
- 6.1 Overview
- 7 North America Marine Engines Market, By Shipyard
- 7.1 Overview
- 8 North America Marine Engines Market, By Displacement
- 8.1 Overview
- 9 North America Marine Engines Market, By Distribution Channel
- 9.1 Overview
- 10 North America Marine Engines Market, By Installation
- 10.1 Overview
- 11 North America Marine Engines Market, By Country
- 11.1 Country
- 11.2 Us
- 11.3 Canada
- 11.4 Mexico
- 12 Competitive Landscape
- 12.1 Competitive Overview
- 12.2 Major Players In The North America Marine Engines Market
- 12.3 Competitive Benchmarking
- 12.4 Leading Players In Terms Of The Number Of Developments In The North America Marine Engines Market
- 12.5 Key Developments & Growth Strategies
- 12.5.1 Contracts & Agreement
- 12.5.2 Product Launch/Product Development
- 13 Company Profiles
- 13.1 Caterpillar Inc.
- 13.1.1 Company Overview
- 13.1.2 Financial Overview
- 13.1.3 Products/Services Offered
- 13.1.4 Key Developments
- 13.1.5 Swot Analysis
- 13.1.6 Key Strategies
- 13.2 Cummins Inc.
- 13.2.1 Company Overview
- 13.2.2 Financial Overview
- 13.2.3 Products Offered
- 13.2.4 Key Developments
- 13.2.5 Swot Analysis
- 13.2.6 Key Strategies
- 13.3 Wabtec Corporation
- 13.3.1 Company Overview
- 13.3.2 Financial Overview
- 13.3.3 Products Offered
- 13.3.4 Key Developments
- 13.3.5 Swot Analysis
- 13.3.6 Key Strategies
- 13.4 Ab Volvo
- 13.4.1 Company Overview
- 13.4.2 Financial Overview
- 13.4.3 Products Offered
- 13.4.4 Key Developments
- 13.4.5 Swot Analysis
- 13.4.6 Key Strategies
- 13.5 Deere & Company
- 13.5.1 Company Overview
- 13.5.2 Financial Overview
- 13.5.3 Products Offered
- 13.5.4 Key Developments
- 13.5.5 Swot Analysis
- 13.5.6 Key Strategies
- 13.6 Deutz Ag
- 13.6.1 Company Overview
- 13.6.2 Financial Overview
- 13.6.3 Products Offered
- 13.6.4 Key Developments
- 13.6.5 Wot Analysis
- 13.6.6 Key Strategies
- 13.7 Hyundai Heavy Industries
- 13.7.1 Company Overview
- 13.7.2 Financial Overview
- 13.7.3 Products/Services Offered
- 13.7.4 Key Developments
- 13.7.5 Swot Analysis
- 13.7.6 Key Strategies
- 13.8 Wärtsilä Oyj Abp
- 13.8.1 Company Overview
- 13.8.2 Financial Overview
- 13.8.3 Products/Services Offered
- 13.8.4 Key Developments
- 13.8.5 Swot Analysis
- 13.8.6 Key Strategies
- 13.9 Man Se
- 13.9.1 Company Overview
- 13.9.2 Financial Overview
- 13.9.3 Products/Services Offered
- 13.9.4 Key Developments
- 13.9.5 Swot Analysis
- 13.9.6 Key Strategies
- 13.10 Mitsubishi Heavy Industries Ltd
- 13.10.1 Company Overview
- 13.10.2 Financial Overview
- 13.10.3 Products Offered
- 13.10.4 Key Developments
- 13.10.5 Swot Analysis
- 13.10.6 Key Strategies
- 14 Appendix
- 14.1 References
- 14.2 Data Citations
- List Of Tables
- Table 1 Qfd Modeling For Market Share Assessment
- Table 2 North America Marine Engines Market, By Power, 2019–2032 (Usd Million)
- Table 3 North America Marine Engines Market, By Power, 2019–2032 (Thousand Units)
- Table 4 North America Marine Engines Market, By Shipyard, 2019–2032 (Usd Million)
- Table 5 North America Marine Engines Market, By Shipyard, 2019–2032 (Thousand Units)
- Table 6 North America Marine Engines Market, By Displacement, 2019–2032 (Usd Million)
- Table 7 North America Marine Engines Market, By Displacement, 2019–2032 (Thousand Units)
- Table 8 North America Marine Engines Market, By Distribution Channel, 2019–2032 (Usd Million)
- Table 9 North America Marine Engines Market, By Distribution Channel, 2019–2032 (Thousand Units)
- Table 10 North America Marine Engines Market, By Installation, 2019–2032 (Usd Million)
- Table 11 North America Marine Engines Market, By Installation, 2019–2032 (Thousand Units)
- Table 12 North America Marine Engines Market, By Country, 2019–2032 (Usd Million)
- Table 13 North America Marine Engines Market, By Country, 2019–2032 (Thousand Units)
- Table 14 Us Marine Engines Market, By Power, 2019–2032 (Usd Million)
- Table 15 Us Marine Engines Market, By Power, 2019–2032 (Thousand Units)
- Table 16 Us Marine Engines Market, By Shipyard, 2019–2032 (Usd Million)
- Table 17 Us Marine Engines Market, By Shipyard, 2019–2032 (Thousand Units)
- Table 18 Us Marine Engines Market, By Displacement, 2019–2032 (Usd Million)
- Table 19 Us Marine Engines Market, By Displacement, 2019–2032 (Thousand Units)
- Table 20 Us Marine Engines Market, By Distribution Channel, 2019–2032 (Usd Million)
- Table 21 Us Marine Engines Market, By Distribution Channel, 2019–2032 (Thousand Units)
- Table 22 Us Marine Engines Market, By Installation, 2019–2032 (Usd Million)
- Table 23 Us Marine Engines Market, By Installation, 2019–2032 (Thousand Units)
- Table 24 Canada Marine Engines Market, By Power, 2019–2032 (Usd Million)
- Table 25 Canada Marine Engines Market, By Power, 2019–2032 (Thousand Units)
- Table 26 Canada Marine Engines Market, By Shipyard, 2019–2032 (Usd Million)
- Table 27 Canada Marine Engines Market, By Shipyard, 2019–2032 (Thousand Units)
- Table 28 Canada Marine Engines Market, By Displacement, 2019–2032 (Usd Million)
- Table 29 Canada Marine Engines Market, By Displacement, 2019–2032 (Thousand Units)
- Table 30 Canada Marine Engines Market, By Distribution Channel, 2019–2032 (Usd Million)
- Table 31 Canada Marine Engines Market, By Distribution Channel, 2019–2032 (Thousand Units)
- Table 32 Canada Marine Engines Market, By Installation, 2019–2032 (Usd Million)
- Table 33 Canada Marine Engines Market, By Installation, 2019–2032 (Thousand Units)
- Table 34 Mexico Marine Engines Market, By Power, 2019–2032 (Usd Million)
- Table 35 Mexico Marine Engines Market, By Power, 2019–2032 (Thousand Units)
- Table 36 Mexico Marine Engines Market, By Shipyard, 2019–2032 (Usd Million)
- Table 37 Mexico Marine Engines Market, By Shipyard, 2019–2032 (Thousand Units)
- Table 38 Mexico Marine Engines Market, By Displacement, 2019–2032 (Usd Million)
- Table 39 Mexico Marine Engines Market, By Displacement, 2019–2032 (Thousand Units)
- Table 40 Mexico Marine Engines Market, By Distribution Channel, 2019–2032 (Usd Million)
- Table 41 Mexico Marine Engines Market, By Distribution Channel, 2019–2032 (Thousand Units)
- Table 42 Mexico Marine Engines Market, By Installation, 2019–2032 (Usd Million)
- Table 43 Mexico Marine Engines Market, By Installation, 2019–2032 (Thousand Units)
- Table 44 The Most Active Players In The North America Marine Engines Market
- Table 45 Contracts & Agreement
- Table 46 Product Launch/Product Development
- Table 47 Caterpillar Inc.: Products/Services Offered
- Table 48 Cummins Inc.: Products Offered
- Table 49 Wabtec Corporation: Products Offered
- Table 50 Wabtec Corporation: Key Developments
- Table 51 Ab Volvo: Products Offered
- Table 52 Ab Volvo: Key Developments
- Table 53 Deere & Company: Products Offered
- Table 54 Deutz Ag: Products Offered
- Table 55 Hyundai Heavy Industries: Products/Services Offered
- Table 56 Wärtsilä Oyj Abp: Products/Services Offered
- Table 57 Wärtsilä Oyj Abp: Key Developments
- Table 58 Man Se: Products Offered
- Table 59 Man Se: Key Developments
- Table 60 Mitsubishi Heavy Industries Ltd: Products Offered
- List Of Figures
- Figure 1 North America Marine Engines Market: Executive Summary
- Figure 2 North America Marine Engines Market: Structure
- Figure 3 North America Marine Engines Market: Market Growth Factor Analysis (2022-2032)
- Figure 4 Driver Impact Analysis (2023-2032)
- Figure 5 Restraint Impact Analysis (2022-2032)
- Figure 6 Supply Chain Analysis Of The North America Marine Engines Market
- Figure 7 Porter’s Five Forces Analysis: North America Marine Engines Market
- Figure 1 North America Marine Engines Market, By Power, 2022 & 2032 (Usd Million)
- Figure 2 North America Marine Engines Market Share (%), By Power, 2022
- Figure 3 North America Marine Engines Market, By Shipyard, 2022 & 2032 (Usd Million)
- Figure 4 North America Marine Engines Market Share (%), By Shipyard, 2022
- Figure 5 North America Marine Engines Market, By Displacement, 2022 & 2032 (Usd Million)
- Figure 6 North America Marine Engines Market Share (%), By Displacement, 2022
- Figure 7 North America Marine Engines Market, By Distribution Channel, 2022 & 2032 (Usd Million)
- Figure 8 North America Marine Engines Market Share (%), By Distribution Channel, 2022
- Figure 9 North America Marine Engines Market, By Installation, 2022 & 2032 (Usd Million)
- Figure 10 North America Marine Engines Market Share (%), By Installation, 2022
- Figure 11 North America Marine Engines Market Share, By Country, 2022 (% Share)
- Figure 12 North America Marine Engines Market, By Country, 2022 & 2032 (Usd Million)
- Figure 13 North America Marine Engines Market Share Analysis, 2022 (%)
- Figure 14 Benchmarking Of Major Competitors
- Figure 15 Caterpillar Inc.: Financial Overview Snapshot
- Figure 16 Caterpillar Inc.: Swot Analysis
- Figure 17 Cummins Inc.: Financial Overview Snapshot
- Figure 18 Cummins Inc.: Swot Analysis
- Figure 19 Wabtec Corporation: Financial Overview Snapshot
- Figure 20 Wabtec Corporation: Swot Analysis
- Figure 21 Ab Volvo: Financial Overview Snapshot
- Figure 22 Ab Volvo: Swot Analysis
- Figure 23 Deere & Company: Financial Overview Snapshot
- Figure 24 Deere & Company: Swot Analysis
- Figure 25 Deutz Ag: Financial Overview Snapshot
- Figure 26 Deutz Ag: Swot Analysis
- Figure 27 Hyundai Heavy Industries: Financial Overview Snapshot
- Figure 28 Hyundai Heavy Industries: Swot Analysis
- Figure 29 Wärtsilä Oyj Abp: Financial Overview Snapshot
- Figure 30 Wärtsilä Oyj Abp: Swot Analysis
- Figure 31 Man Se: Financial Overview Snapshot
- Figure 32 Man Se: Swot Analysis
- Figure 33 Mitsubishi Heavy Industries Ltd: Financial Overview Snapshot
- Figure 34 Mitsubishi Heavy Industries Ltd: Swot Analysis
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