According to a market report by Lucintel, the future of the global marine propulsion engine market looks promising with opportunities in the commercial, defense, and passenger markets. The global marine propulsion engine market is expected to reach an estimated $20.0 billion by 2030 from $15.5 billion in 2024, at a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are growing reliance on ships to carry necessary commodities, including consumer staples and natural resources, growing trade between countries as a result of growing industry and globalization, as well as, increasing focus on reducing fossil fuel consumption and improving efficiency.
A more than 150-page report to understand trends, opportunity and forecast in marine propulsion engine market to 2030 by fuel type (diesel, heavy fuel oil, natural gas, and others), power range (0-1,000 HP, 1,001-5,000 HP, 5,001-10,000 HP, 10,001-20,000 HP, and above 20,000 HP), application (commercial, defense, passenger, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that, within the type category, diesel will remain the largest segment over the forecast period because it is more economy and efficiency compared to other energy-propelled counterparts, as well as, changing cost of marine gas and diesel oil.
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In terms of regions, APAC will remain the largest region over the forecast period because of expansion in the shipbuilding sectors of South Korea and China, increase in the number of joint partnerships with global brands, and increase in the shipping of crude oil, primarily from the Middle East to Asia-Pacific.
Caterpillar, Daihatsu Diesel, General Electric Company, Hyundai Heavy Industries, IHI Power Systems, Mitsubishi Heavy Industries, Rolls Royce, Volkswagen, Volvo Penta, Wartsila are the major suppliers in the marine propulsion engine market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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