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Marine Gensets Market Size
- Report ID: GMI4014
- Published Date: Nov 2024
- Report Format: PDF
Marine Gensets Market Size
The global marine gensets market was valued at USD 6.6 billion in 2024 and is estimated to grow at a CAGR of 4.1% from 2025 to 2034. The expanding global population and continuous infrastructure development in emerging economies are set to drive demand for seaborne trade worldwide, enhancing the industry growth prospects. Rising imports & exports of goods and commodities including crude oil, ores, and minerals will further the accelerate industry outlook. For instance, according to the United Nations Conference on Trade & Development (UNCTAD), the shipping industry accounts for 80% of the global trade by volume and over 70% by revenue.
Marine gensets are engines powered by various fuel types, designed to generate electricity aboard ships and boats. They provide essential power for onboard systems, including lighting, navigation, and climate control. With applications in both commercial and recreational vessels, marine gensets are integral to modern maritime operations. Supportive government policies promoting marine tourism, along with innovative marketing and organizational strategies, have boosted demand for new passenger vessels and ships.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Marine Gensets Market Size in 2024: | USD 6.6 Billion |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2025 – 2034 CAGR: | 4.1% |
| 2025 – 2034 Value Projection: | USD 9.9 Billion |
| Historical Data for: | 2021 – 2024 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 45 |
| Segments covered: | Fuel, Power Rating, Application and Region |
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Frequently Asked Questions (FAQ) :
Marine Gensets Market Scope
