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Asia Pacific Marine Gensets Market Trends

Report ID: GMI9346
Published Date: May 2024
Report Format: PDF

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Asia Pacific Marine Gensets Market Trends

The increasing population and ongoing infrastructure developments will drive up the demand for global seaborne trade, which in turn will bolster the outlook for businesses operating in this sector. The industry is set to experience growth fueled by the expanding export and import of various merchandise and commodities comprising of crude oil, ores, and minerals. This uptick will be driven by the rising seaborne trade, particularly in developing economies along with the swift surge in shipbuilding endeavors, will drive the demand for marine commercial vessels.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Asia Pacific marine gensets industry size was USD 3.68 billion in 2023 and will demonstrate a 4.5% CAGR during 2024 and 2032, due to the burgeoning maritime trade, increasing investments in marine infrastructure development, and popularity of maritime tourism across the region.

Asia Pacific LNG fueled marine gensets market will record USD 600 million by 2032, attributed to increasing focus on reducing greenhouse gas emissions in maritime operations and stringent environmental regulations.

China marine gensets market size will reach USD 1.2 billion by 2032, driven by robust maritime industry, extensive coastal infrastructure development, and increasing investments in offshore energy exploration.

ABB, Bhojani Generators, Caterpillar, Cummins Inc., Deere & Company, Fischer Panda, Kirloskar, Kohler Co., MAN Energy Solutions, Mitsubishi Heavy Industries, Nidec Industrial Solutions, Rolls-Royce plc, Scania, Sol