North America marine propulsion engine market is expected to witness a significant growth over the coming eight years owing to the large use of LNG as a marine or ship fuel. U.S. is predicted to be a key revenue contributor of the region.
Asia Pacific marine propulsion engine market size worth USD 4.5 billion in 2015, is predicted to record substantial gains of 4.8% over 2016-2024 owing to heavy investments by private players as well as the government. South Korea and China are predicted to make significant contributions to the regional share over the coming years.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/791
According to Global Market Insights, Inc., “Marine Propulsion Engine market size worth USD 9 billion in 2015, is anticipated to reach USD 13.3 billion by 2024, registering a CAGR of 4.3% over 2016-2024.” High emphasis on improving diesel engine capacity of the ships with large cargo carrying capability is predicted to boost the Marine propulsion engine market trends over the next few years. Today, shipping industry is largely focusing on developing new type of electric motors which will improve fuel efficiency and reduce environmental pollution.
Major marine propulsion engine products include natural gas, diesel, fuel cell, steam turbine, wind & solar, and gas turbine engines. Wind & solar marine propulsion engine market, which contributed over 3.5 % of the overall revenue in 2015, is expected to grow at a rate of 5.9% over 2016-2024. The growth can be credited to favorable government policies supporting the product applications in shipping industry due to its eco-friendly nature. Diesel propulsion engine market price worth USD 6 billion in 2015, is expected to register a CAGR of 4.2% over the coming eight years.
Rapid innovation in the market is expected to lead to the development of stronger and energy efficient products. Leading market players are constantly spending on R& D activities to increase their product portfolio and enhance ship capacity & handling needs. They will try to enhance their reputation and brand visibility by developing eco-friendly, sustainable, cost-effective, efficient, and viable solutions. Key industry participants include in marine propulsion engine market are Yamaha Motor Company, Rolls-Royce, Exxon Mobil Corporation, Wärtsilä, Cummins Corporation, Shell Global, Idemitsu Kosan Company, MAN Diesel & Turbo, Mitsubishi Motors, Volvo Penta Company, Hydraulic Marine Systems Inc, Caterpillar Inc., Sinopec Company, and Hydrosta BV Company.
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
Glimpse of Table of Content (ToC): –
Chapter 5. Marine Propulsion Engine Regional Insights
5.1. Marine propulsion engine market share by region, 2015 & 2024
5.2. North America
5.2.1 North America market by product, 2013 – 2024
22.214.171.124 U.S. market by product, 2013 – 2024
5.3.1 Europe market by product, 2013 – 2024
126.96.36.199 Germany market by product, 2013 – 2024
188.8.131.52 UK market by product, 2013 – 2024
5.4. Asia Pacific
5.4.1 Asia Pacific market by product, 2013 – 2024
184.108.40.206 China market by product, 2013 – 2024
220.127.116.11 Japan market by product, 2013 – 2024
5.5. Latin America
5.5.1 Latin America market by product, 2013 – 2024
18.104.22.168 Brazil market by product, 2013 – 2024
5.6.1 MEA market by product, 2013 – 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/marine-propulsion-engine-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.