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Marine Gensets Market Share

Report ID: GMI4014
Published Date: May 2023
Report Format: PDF

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Marine Gensets Market Share

The major players operating in the marine gensets market include :

Cummins,Inc
MAN Energy Solutions
Kirloskar
Société Internationale des Moteurs Baudouin
Rolls-Royce plc
Weichai Holding Group Co,Ltd
Wärtsilä
ABB
Deere & Company
Volvo Penta
Caterpillar
Scania
Nidec Industrial Solutions
Solé Diesel
Mitsubishi Heavy Industries
GlobalTec Solutions
YANMAR
Mase Generators of North America LLC
Northern Lights,LLC
Parikh Power
Fischer Panda
Anglo Belgian Corporation nv
BHOJANI GENERATORS
Kohler Co.

These companies are focusing on marketing strategies, technological advancements, brand recognition, and economies of scale to meet the competition prevailing in the industry. In September 2022, ABB Marine & Ports and MAN Energy Solutions signed a partnership agreement to work together and develop dual-fuel electric power production systems. ABB's Dynamic AC (DAC) power distribution and control system and MAN's new 49/60DF four-stroke engine will be the foundation of the dual-fuel, electric power system+ (DFE+) propulsion system idea that the two businesses will develop in accordance with a Memorandum of Understanding (MOU).

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of marine gensets was around USD 6.3 billion in 2023 and will witness more than 9.2% CAGR from 2024 to 2032.

The merchant application segment will cross USD 4 billion by 2032, led by the expansion of seaborne trade and shipbuilding activities.

Asia Pacific marine gensets industry size will exceed USD 5 billion by 2032 in view of an upbeat outlook for the shipping sector as well as proliferating seaborne trade.

Cummins, MAN Energy Solutions, Rolls-Royce, Volvo Penta, Caterpillar, Weichai Holding Group, Kirloskar, Société Internationale des Moteurs Baudouin, Wärtsilä, ABB, and Deere & Company are some of the key manufacturers of marine gensets.