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Europe Marine Propulsion Systems Market Size
- Report ID: GMI8774
- Published Date: Apr 2024
- Report Format: PDF
Europe Marine Propulsion Systems Market Size
Europe Marine Propulsion Systems Market size was valued at USD 4.6 billion in 2023 and is estimated to grow at a rate of 2.7% between 2024 and 2032. Increase in maritime trade and fleet size along with rising demand of high-performance engines will augment the business landscape. For instance, in 2022, ships have transported over 40% of goods exported from the region.
A marine propulsion system encompasses the apparatus accountable for producing and transmitting power to propel marine vessels through water. It constitutes the system or mechanism utilized to create thrust for propelling a watercraft through aquatic environments. This system comprises engines, propulsion units such as water jets or propellers, transmission systems, and control systems. These components are integral in facilitating the efficient movement, effective maneuverability, and consistent speed and direction maintenance while navigating waterways.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Europe Marine Propulsion Systems Market Size in 2023: | USD 4.6 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 2.7% |
| 2032 Value Projection: | USD 5.9 Billion |
| Historical Data for: | 2019 - 2023 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 334 |
| Segments covered: | Product, Power, Technology, Propulsion, Application & Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Europe Marine Propulsion Systems Market Scope
