Marine propulsion engine market share is dominated by companies such as MAN Diesel, Rolls Royce, Mitsubishi, and Wärtsilä. The industry is characterized by long term contracts and frequent mergers &acquisitions to achieve competitive advantage. Significant investments by China and South Korea will drive Asia Pacific marine propulsion engine market share. The regional industry was valued at more than USD 4.5 billion in 2015 and will grow at 4.8% CAGR.
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Stringent emission regulations by International Convention for Prevention of Pollution (MARPOL) may hinder the marine propulsion engine market size over the forecast timeline. MARPOL regulations are principally applied for marine environment protection. Violations caused due to chemical spills, exhaust gases leading to air pollution, and contamination of oil and sewage waste may lead to severe penalties.
High demand for operationally dependable and fuel efficient ships will drive the marine propulsion engine market share over the forecast timeline. Rapid innovation has led to the development of new energy efficient and high performance products. Industry participants such as Rolls-Royce and Wärtsilä have continuously innovated and extended their product offerings to cater to growing demand for capacity handling.
Fuel cells will witness substantial growth opportunities due to high performance characteristics in auxiliary propulsion and low-power machinery. The shipping industry has diverted its focus on reducing consumption of fossil fuel by developing electric motors, thereby contributing to energy efficiency.
Browse key industry insights spread across 103 pages with 32 market data tables & 27 figures & charts from the report, “Marine Propulsion Engine Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/marine-propulsion-engine-market
This research report includes in-depth coverage of the industry, with estimates &forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Glimpse of Table of Content (ToC): –
Chapter 4. Marine Propulsion Engine Product Insights
4.1. Marine propulsion engine market share by product, 2015 & 2024
4.2. Diesel Propulsion
4.2.1 Market estimates and forecast, 2013 – 2024
4.2.2 Market estimates and forecast, by region, 2013 – 2024
4.3. Wind & Solar Propulsion
4.3.1 Market estimates and forecast, 2013 – 2024
4.3.2 Market estimates and forecast, by region, 2013 – 2024
4.4. Gas Turbine Propulsion
4.4.1 Market estimates and forecast, 2013 – 2024
4.4.2 Market estimates and forecast, by region, 2013 – 2024
4.5. Fuel Cell Propulsion
4.5.1 Market estimates and forecast, 2013 – 2024
4.5.2 Market estimates and forecast, by region, 2013 – 2024
4.6. Steam Turbine Propulsion
4.6.1 Market estimates and forecast, 2013 – 2024
4.6.2 Market estimates and forecast, by region, 2013 – 2024
4.7. Natural Gas
4.7.1 Market estimates and forecast, 2013 – 2024
4.7.2 Market estimates and forecast, by region, 2013 – 2024
4.8.1 Market estimates and forecast, 2013 – 2024
4.8.2 Market estimates and forecast, by region, 2013 – 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/marine-propulsion-engine-market
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