Marine Engines Market: size was valued at USD 11.48 Bn. in 2021 and the total Marine Engines revenue is expected to grow at 2.8% through 2022 to 2029, reaching nearly USD 14.32 Bn.
Marine Engines Market Overview:
The purpose of this report is to provide a thorough examination of the Marine Engines Market by segments and geographics. The study goes into great detail on the primary factors influencing the Marine Engines market’s growth. The study also offers a comprehensive analysis of the market’s value chain.
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Market Scope:
The “Global Marine Engines Market Analysis” is a detailed investigation of the Marine Engines market, with a focus on global market trends and analysis. The goal of this research is to provide an overview of the Marine Engines market as well as detailed market segmentation by application, end-use, and geography. The Marine Engines market is expected to develop substantially over the forecast period. The study contains critical information on the market positions of the leading Marine Engines players, as well as noteworthy industry trends and opportunities.
The research method used to assess and anticipate the Marine Engines market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segment estimation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Marine Engines market was calculated using the revenue of significant enterprises.
Segmentation:
According to fuel type, the Heavy Fuel Oil category had the highest revenue share of around XX% in 2021 and is anticipated to experience rapid growth over the next five years. Marine diesel oil does not need to be heated for preservation, unlike heavy fuel oil (HFO). Refinery activities or the blending of pre-made marine fuels can control the marine diesel oil blending ratios directly. The segment growth in the marine engines market is being driven by the replacement of bunker oil or heavy fuel oil with low sulphur oils like marine diesel oil during the forecast period due to the increasing stringency of emission control regulations and ongoing revisions to IMO standards.
The bulk carriers industry held the biggest market share of all ship types.
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Key Players:
The major players covered in the Marine Engines market report are
• GM Powertrain
• Caterpillar, Inc.
• Cummins Engines
• Wartsila Corporation
• Rolls Royce
• MAN Diesel & Turbo SE
• Wärtsilä
• Mitsubishi Heavy Industries
• Hyundai Heavy Industries Co., Ltd.
• Scania
• YANMAR CO., LTD.
• DAIHATSU DIESEL MFG.CO. LTD.
• Nigata Power Systems Co., Ltd.
• Fairbanks Morse Engine
• Masson-Marine
• General Electric Company
• Mercury Marine
• Sumitomo Heavy Industries
• Brunswick Corporation
• AB Volvo
• John Deere
• Daihatsu Diesel MFG. Co. Ltd.
• Dresser-Rand Group, Inc.
• Deutz AG
• STX
Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Marine Engines Market:
Aerospace and defense, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 outbreak. COVID-19 has had an impact on the Marine Engines market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spread. Our most recent inquiry, opinions, and bits of knowledge on the market are critical to the businesses and associations in the Marine Engines industry,
Key Questions Answered in the Marine Engines Market Report are:
- Which segment grabbed the largest share in the Marine Engines market?
- What was the competitive scenario of the Marine Engines market in 2021?
- Which are the key factors responsible for the Marine Engines market growth?
- Which region held the maximum share in the Marine Engines market in 2021?
