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Marine Propulsion Systems Market Share

Report ID: GMI4753
Published Date: Jul 2023
Report Format: PDF

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Marine Propulsion Systems Market Share

The key companies operating across the marine propulsion systems market include:

IHI Power Systems Co.
Anglo Belgian Corporation
HHI Engine & Machiner
Kawasaki Heavy Industries
MAN Energy Solutions
Rolls-Royce
STX ENGINE
Wärtsilä
Caterpillar
Cummins
DEUTZ AG
DAIHATSU DIESEL MFG.CO.
Deere & Company
Scania
AB Volvo Penta
Weichai Holding Group Co.
YANMAR HOLDINGS CO.
Yamaha Motor Co.
Mitsubishi Heavy Industries
ABB

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of marine propulsion systems was worth over USD 26.4 billion in 2023 and is estimated to surpass USD 34.8 billion by 2032, driven by the rising demand for high-performance engines for heavy-load transportation along with the growing focus on developing propulsion systems.

The low-speed marine propulsion systems market is set to witness over 3.3% CAGR from 2023 to 2032, owing to the increasing long-voyage trade across the globe along with the utilization of low-cost fuel.

The Europe market dominated around USD 4.4 billion revenue in 2022 and is estimated to record considerable growth through 2032, attributed to the growing demand for ships that offer reliable operations along with the increasing emphasis on diesel-engine capacity for powering new generation and advanced tanks.

The prominent enterprises engaged in the market are IHI Power Systems Co., Anglo Belgian Corporation, HHI Engine & Machiner, Kawasaki Heavy Industries, MAN Energy Solutions, Rolls-Royce, STX ENGINE, Wärtsilä, Caterpillar, Cummins, DEUTZ AG, DAIHATSU DIESEL MFG.CO., Deere & Company, Scania, AB Volvo Penta, Weichai Holding Group Co., YANMAR HOLDINGS CO., Yamaha Motor Co., Mitsubishi Heavy Industries and ABB.