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Marine Gensets Market Trends

Report ID: GMI4014
Published Date: Nov 2024
Report Format: PDF

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Marine Gensets Market Trends

The global maritime tourism sector has grown steadily in recent years, fueled by increased consumer spending on leisure and rising disposable incomes. This trend has boosted demand for recreational vessels, as more tourists opt to travel by ferries and cruise ships. Government regulations aimed at reducing maritime pollution particularly within Emission Control Areas (ECAs), have driven increased demand for low emission generating sets. To comply with these standards, industry players have introduced products equipped with advanced engines, including those featuring scrubbers and catalytic reactors, stimulating the industry potential.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The global market for marine gensets was reached USD 6.6 billion in 2024 and is estimated to grow at a 4.1% CAGR from 2025 to 2034, driven by expanding global population and infrastructure development in emerging economies.

The MDO fueled marine gensets industry is projected to exceed USD 5 billion by 2034, due to environmental regulations and the fuels' reliability and efficiency in high and medium-speed engines.

The 1,000 kW

The U.S. marine gensets market is set to reach over USD 950 million by 2034, led by technological advancements, including hybrid systems and renewable energy integration, and government incentives for green technologies.

Key players in the marine gensets industry include ABB, Anglo Belgian Corporation, Caterpillar, Cummins, Deere & Company, Fischer Panda, GlobalTec Solutions, Kirloskar, Kohler, MAN Energy Solutions, Mase Generators of North America, Mitsubishi Heavy Industries, Nidec Industrial Solutions, Northern Lights, Parikh Power, Rolls-Royce, Scania, Societe Internationale des Moteurs Baudouin, Sole Diesel, Volvo Penta, W