Global Marine Gensets Market to Register 3.71% CAGR through 2021, Says MarketsandMarkets in Its New Study Available at MarketPublishers.com08 Feb 2017 • by Natalie Aster
LONDON – Uptake in the global ship-building industry together with increase in high value commercial vessels will perform as the key drivers for future growth in the worldwide market for marine engines. However, there are certain factors, which could hamper the further market growth, like stringent emission norms for diesel engines and decline in oil and gas exploration activities.
The world’s marine gensets market is predicted to see modest growth at a 3.71% CAGR in the coming years, and by 2021 climb to the value of around USD 5.4 billion.
In terms of vessel types, the commercial vessels sector will likely grow at the highest pace in the years ahead, spurred by a number of factors comprising upturn in maritime trade and increase in gas carrier vessels (owing to escalating demand for natural gas especially from India, China, Japan and South Korea).
In terms of fuel type, the diesel gensets sector is anticipated to remain its leading position through 2021. However, this sector is expected to lose some market share in favor of alternative and natural gas gensets.
New MarketsandMarkets (M&M) report “Marine Gensets Market by Vessel Type, Fuel, Rating & Region - Global Forecast to 2021” offers a detailed guide to the scenario in the world’s marine gensets market, explores the major geographical markets, estimates the market attractiveness and also contains a comprehensive analysis of the major market segments.
This publication is a great source of data on the key aspects of the marine gensets market growth and development, including the market value, volume, dynamics, key growth drivers and restrains, lucrative opportunities and major challenges, current and emerging trends and the hottest industry issues and concerns.
The report investigates the competitive landscape, touches upon the key regulations, profiles the leading players and also presents future forecasts through 2021.
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