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Marine Engines Market Size

Report ID: GMI2572
Published Date: Jul 2020
Report Format: PDF

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Marine Engines Market Size

Marine Engines Market size is anticipated to register more than 4% CAGR between 2020 and 2026. Rising seaborne trade throughout emerging economies owing to the growth within the shipping industry will augment the business landscape. Technological development and product design, shifting focus from conventional fuel towards low sulphur fuel and strict government directives to adopt green fuel will aid the demand for engines supporting LSFO, LNG and hybrid fuel.

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Implementation of government mandates to limit maritime pollution primarily in Emission Control Areas (ECAs) will fuel the demand for low emission engines. Increasing efforts toward expanding engine capacities has further led to the development initiatives for designing reliably advanced systems.

Marine Engines Market Report Attributes
Report Attribute	Details
Base Year:	2019
Marine Engines Market Size in 2019:	8.2 Billion (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	4.56%
2026 Value Projection:	8.8 Billion (USD)
Historical Data for:	2015 to 2019
No. of Pages:	735
Tables, Charts & Figures:	1,335
Segments covered:	Product, Power, Technology, Propulsion, Application
Growth Drivers:	Expansion in seaborne trade Increasing maritime tourism Technological advancement in marine engines
Pitfalls & Challenges:	Stringent government regulations against emissions

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Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The overall marine engines industry is anticipated to acquire a revenue share of USD 8.8 bn by the end of 2026.

< 1,000 HP marine engines will be the products of choice for stakeholders, as they fulfil the massive capacity requirement of merchant ships. < 1,000 HP segment may register 4.1% CAGR through 2026.

Two-stroke marine engines business is expected to witness 5.1% CAGR through 2026, propelled by the myriad technological developments in tandem with enhanced operational efficiency of these engines.

Marine engines will be extremely popular in the UAE, which in 2019 held more than 14% of the Middle East marine engines market share owing to rising number of production and exploration activities.