Marine Reciprocating Engine Market Size - By Rated Power (0.5 MW - 1 MW, > 1 MW - 2 MW, > 2 MW - 3.5 MW, > 3.5 MW - 5 MW, > 5 MW - 7.5 MW, > 7.5 MW), By Fuel (Gas, Diesel), By Regional Outlook & Forecast, 2024 – 2032

Marine Reciprocating Engine Market Size

Marine Reciprocating Engine Market was valued at USD 24.1 billion in 2023 and is estimated to grow at a CAGR of 5.8% from 2024 to 2032. Ongoing expansion in the shipping sector along with increasing international trade and maritime activities will positively impact the business landscape. For instance, the annual growth in container shipping between China and Mexico has risen by over 30% in 2023.
 

A reciprocating marine engine is an internal combustion engine that converts the reciprocating motion of a piston into rotational motion to propel marine vessels. These systems operate on the principle of converting fuel and air mixture combustion into mechanical energy, driving the movement of pistons in a reciprocating motion. This mechanical motion is then transmitted to a crankshaft, ultimately turning the vessel's propeller and providing thrust for propulsion. These engines are used in various types of ships and boats for transportation.
 

Marine Reciprocating Engine Market Trends

Surging demand for maritime trade and transportation along with flourishing fishing industry will drive the reciprocating engines market. Furthermore, the consistent efforts to minimize emission limits through frequent government clearances have constrained the industry's potential for new developments and the easy entry of manufacturers. The growing consumer interest toward cleaner energy sources along with expanding cruise and leisure industry will energize the business dynamics.
 

Marine Reciprocating Engine Market Analysis

The > 1 MW - 2 MW rated marine reciprocating engine segment will exceed over USD 6 billion by 2032. These units are set to gain appreciable momentum owing to the opening and growth of crucial shipping routes, particularly choke points, resulting in an amplified presence of merchant vessels. The enforcement of strict emission regulations coupled with paradigm shift toward unconventional gas resources will favor the business scenario.
 

The diesel fired marine reciprocating engine market size will witness growth rate of over 5% through 2032. Increasing applicability of these systems across maritime vessels for propulsion and auxiliary power generation will amplify the industry potential. These engines offer key advantages including durability, fuel efficiency, high power-to-weight ratio and are capable of running for long periods with minimal maintenance. Ongoing innovations in technology along with increasing concerns toward environmental sustainability will drive the business outlook.
 

Asia Pacific marine reciprocating engine market is set to surpass USD 18 billion by 2032. The region experiences rapid infrastructural development and expansion of ports which in turn will lead to the rise in the demand for marine reciprocating engines. Furthermore, increasing popularity of maritime tourism in line growing demand for reliable engines in the cruise and leisure industry will escalate the industry outlook.
 

Increasing demand for reliable and efficient propulsion systems in both commercial and recreational vessels will augment the U.S. marine reciprocating engine market. Stringent emissions regulations along with shifting focus toward the adoption of environmentally friendly engines will boost the product penetration. Additionally, the resurgence in maritime trade and the growth of the offshore energy sector are significant factors contributing to business expansion.
 

Marine Reciprocating Engine Market Share

DEUTZ AG is one of the prominent German manufacturers specializes in the production of high-performance reciprocating engines. The company is recognized for its innovative and reliable engine solutions, serving a diverse range of industries including agriculture, construction, automotive, and power generation. Its product portfolio encompasses diesel, gas, and hybrid engines, designed to meet stringent emission standards and enhance fuel efficiency. DEUTZ engines are known for their robust performance, durability, and adaptability to various applications. Through continuous research and development, the company remains at the forefront of engine technology, committed to sustainability and advancing the capabilities of reciprocating engines globally.
 

Marine Reciprocating Engine Market Companies

The key industry players include:

• AB Volvo
• Anglo Belgian Corporation
• Caterpillar
• Cummins, Inc.
• Daihatsu Diesel Mfg. Co., Ltd.
• Deere & Company
• DEUTZ AG
• HYUNDAI HEAVY INDUSTRIES CO., LTD.
• IHI Corporation
• Kawasaki Heavy Industries Ltd.
• MAN Energy Solutions
• Mercury Marine
• Mitsubishi Heavy Industries, Ltd.
• Rolls-Royce plc
• Scania
• Siemens Energy
• STX HEAVY INDUSTRIES CO., LTD
• Wartsila
• Yanmar HOLDINGS CO., LTD.
• Yuchai International Imp & Exp (Beijing) Co., Ltd.
   

Marine Reciprocating Engine Industry News

• In December 2023, Scania's new 13-liter biogas engines, integrated with the Super-based powertrain, achieve a significant 5% fuel savings in long-haul operations. With power options of 420 hp or 460 hp and impressive ranges up to 1,400 km, these engines offer sustainability without sacrificing performance. Paired with Bio-LNG or Bio-CNG, they contribute to a substantial up to 90% reduction in CO2 emissions. The strategic use of biomethane fuels aligns with Scania's commitment to immediate decarbonization in the transport sector.
   
• In March 2022, MAN Energy launched the MAN 175D Roadshow, the most remarkable high-velocity diesel motor engine in China. This new mission aimed to raise awareness locally about the unrivaled marine power conveyed by the MAN 175D & its innovation. The MAN 175D engine has an advanced rail fuel infusion framework, joining maximum fuel efficiency with the least potential emissions.
   

This marine reciprocating engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Fuel

• Gas
• Diesel
• Others

Market, By Rated Power

• 0.5 MW - 1 MW
• > 1 MW - 2 MW
• > 2 MW - 3.5 MW
• > 3.5 MW - 5 MW
• > 5 MW - 7.5 MW
• > 7.5 MW

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Denmark
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Thailand
  • Singapore
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • Oman
  • Kuwait
  • Egypt
  • Turkey
  • South Africa
  • Saudi Arabia
• Latin America
  • Brazil
  • Argentina
  • Chile