South America Marine Engines Market By Ship Type (Oil Tankers, Bulk Carriers, General Cargo Ships, Container Ships, Gas Carriers, Chemical Tankers, and Others), By Capacity (0-10000 HP, 10000-20000 HP, 20000-30000 HP, 30000-40000HP), By Fuel, (Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil), By Speed (High Speed, Medium Speed, Low Speed), By Stroke (Two-Stroke, Four-Stroke), By Engine (Propulsion Engine, Auxiliary Engine), By Country and By Competition, Forecast and Opportunities, 2028
South America Marine Engines Market is expected to register a high CAGR from 2024 to 2028. Marine engine demand is rising across South America because of factors such as expanding seaborne trade activities and increasing commercial and industrial demand for marine engines. Additionally, growing merger and acquisition activities in the South American marine engines market is anticipated to drive the market in the upcoming years. Moreover, rising demand for vessels and oil tankers in South America will drive demand for marine engines during the forecast period.
A marine engine is an engine-powered pump that transfers fluid or compressed air: a marine engine is a machine for watercraft propulsion. Engines used in marine vehicles, including propelled boats, ships, and other allied vehicles, are known as marine engines. Marine vessels can be used in various applications, including surveillance, shipping, and offshore support. Their size and application determine the type of motor used in these vehicles.
Growing demand for marine engines in both commercial and industrial sectors
Bulk carriers, crude oil tankers, LNG ships, and mega container ships are all widely used in commercial shipping. These enormous ships need a lot of power to move them through rough waters. More than 85% of these vessels are propelled by large slow-speed engines directly linked to the propeller. The expansion of free trade and the demand for consumer goods have been fueled by rising industrialization and the liberalization of national economies. Technology advancements have improved the efficiency and speed of shipping as a mode of transportation. Estimates of total seaborne trade over the past 40 years have quadrupled, rising from just over 8 trillion tonne-miles in 1968 to over 32 trillion tonne-miles in 2008.
Government regulations to regulate maritime pollution
Government implemented several norms and regulations to regulate CO2 emission, as, ships are a major source of air pollution. Therefore, reduced black carbon emissions have emerged as an increasingly important element to fight global warming, as black carbon is the second most powerful climate warming pollutant after carbon dioxide (CO2).
Some of the government regulations are:
There is an increase in demand for vessels and oil tankers as there is a subsequent growth in the maritime logistics. According to the UNCTAD, maritime logistics is considered the backbone of trade, as it transports about 84% of volumes traded globally and almost 70% of global trade value and approximately 80.3% in South America, predominantly in the South American subregion. Therefore, ports play a significant role in distribution of goods, food, and medical supplies through supply chains. The shipping industry of South America has distinct features, such as companies are mostly private-owned, with small fleets, short-distance geographical coverage and diversified specialization.
Market Segmentation
The South America Marine Engines Market is divided into ship type, capacity, fuel, speed, stroke, and engine. Based on ship type, the market is further segmented into oil tankers, bulk carriers, general cargo ships, container ships, gas carriers, chemical tankers, and others. On the basis of capacity, the market is further split into 0-10000 HP, 10000-20000 HP, 20000-30000 HP, 30000-40000HP. On the basis of fuel, the market is further divided into high speed, medium speed, Low Speed. On the basis of stroke, the market is further bifurcated into two-stroke and four-stroke. On the basis of engine, the market is further segmented into propulsion engine and auxiliary engine.
The demand for seaborne trade activities is driving the South Marine Engines Market and is expected to register a high CAGR during the forecast period.
Market Players
Caterpillar Inc., Cummins Inc., Hyundai Heavy Industries Co. Ltd., MAN Energy Solutions, Mercury Marine, Mitsubishi Heavy Industries Inc., Rolls Royce PLC, Volvo Penta, Wartsila Corporation, and Yanmar Holdings Co. Ltd, are some of the major players in the South America Marine Engines Market.
Key developments
In this report, the South America Marine Engines Market has been segmented into the following categories, in addition to the speed trends, which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the South America Marine Engines Market.
Available Customizations:
South America Marine Engines Market report with the given market data, Tech Sci Research, offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
A marine engine is an engine-powered pump that transfers fluid or compressed air: a marine engine is a machine for watercraft propulsion. Engines used in marine vehicles, including propelled boats, ships, and other allied vehicles, are known as marine engines. Marine vessels can be used in various applications, including surveillance, shipping, and offshore support. Their size and application determine the type of motor used in these vehicles.
Growing demand for marine engines in both commercial and industrial sectors
Bulk carriers, crude oil tankers, LNG ships, and mega container ships are all widely used in commercial shipping. These enormous ships need a lot of power to move them through rough waters. More than 85% of these vessels are propelled by large slow-speed engines directly linked to the propeller. The expansion of free trade and the demand for consumer goods have been fueled by rising industrialization and the liberalization of national economies. Technology advancements have improved the efficiency and speed of shipping as a mode of transportation. Estimates of total seaborne trade over the past 40 years have quadrupled, rising from just over 8 trillion tonne-miles in 1968 to over 32 trillion tonne-miles in 2008.
Government regulations to regulate maritime pollution
Government implemented several norms and regulations to regulate CO2 emission, as, ships are a major source of air pollution. Therefore, reduced black carbon emissions have emerged as an increasingly important element to fight global warming, as black carbon is the second most powerful climate warming pollutant after carbon dioxide (CO2).
Some of the government regulations are:
- Brazilian Government signed up to UN Clean Seas campaign. The Clean Seas campaign support governments be creating effective national laws and encouragement for businesses and citizens to create sustainable models of production and consumption.
- In 2022, The International Atomic Energy Agency (IAEA) helped Peru to assess and limit the environmental damage from a major oil spill in its coastal waters.
There is an increase in demand for vessels and oil tankers as there is a subsequent growth in the maritime logistics. According to the UNCTAD, maritime logistics is considered the backbone of trade, as it transports about 84% of volumes traded globally and almost 70% of global trade value and approximately 80.3% in South America, predominantly in the South American subregion. Therefore, ports play a significant role in distribution of goods, food, and medical supplies through supply chains. The shipping industry of South America has distinct features, such as companies are mostly private-owned, with small fleets, short-distance geographical coverage and diversified specialization.
Market Segmentation
The South America Marine Engines Market is divided into ship type, capacity, fuel, speed, stroke, and engine. Based on ship type, the market is further segmented into oil tankers, bulk carriers, general cargo ships, container ships, gas carriers, chemical tankers, and others. On the basis of capacity, the market is further split into 0-10000 HP, 10000-20000 HP, 20000-30000 HP, 30000-40000HP. On the basis of fuel, the market is further divided into high speed, medium speed, Low Speed. On the basis of stroke, the market is further bifurcated into two-stroke and four-stroke. On the basis of engine, the market is further segmented into propulsion engine and auxiliary engine.
The demand for seaborne trade activities is driving the South Marine Engines Market and is expected to register a high CAGR during the forecast period.
Market Players
Caterpillar Inc., Cummins Inc., Hyundai Heavy Industries Co. Ltd., MAN Energy Solutions, Mercury Marine, Mitsubishi Heavy Industries Inc., Rolls Royce PLC, Volvo Penta, Wartsila Corporation, and Yanmar Holdings Co. Ltd, are some of the major players in the South America Marine Engines Market.
Key developments
- In September 2022, MAN Energy Solutions SE launched the new MAN 49/60 engine. The engine can run on LNG, diesel, and heavy fuel oil, as well as biofuels and synthetic natural gas. The engine is a four-stroke, dual-fuel engine that will help the transition to clean maritime transportation.
In this report, the South America Marine Engines Market has been segmented into the following categories, in addition to the speed trends, which have also been detailed below:
- South America Marine Engines Market, By Ship Type:
- Oil Tankers
- Bulk Carriers
- General Cargo Ships
- Container Ships
- Gas Carriers
- Chemical Tankers
- Others
- South America Marine Engines Market, By Capacity:
- 0-10000 HP
- 10000-20000 HP
- 20000-30000 HP
- 30000-40000HP
- South America Marine Engines Market, By Fuel:
- Heavy Fuel Oil
- Intermediate Fuel Oil
- Marine Diesel Oil
- Marine Gas Oil
- South America Marine Engines Market, By Speed:
- Two-Stroke
- Four-Stroke
- South America Marine Engines Market, By Stroke:
- High Speed
- Medium Speed
- Low Speed
- South America Marine Engines Market, By Engine:
- Propulsion Engine
- Auxiliary Engine
- South America Marine Engines Market, By Country:
- Brazil
- Argentina
- Venezuela
- Peru
- Chile
Company Profiles: Detailed analysis of the major companies present in the South America Marine Engines Market.
Available Customizations:
South America Marine Engines Market report with the given market data, Tech Sci Research, offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to ten).
1. Product Overview
2. RESEARCH METHODOLOGY
3. IMPACT OF COVID-19 ON THE SOUTH AMERICA MARINE ENGINES MARKET
4. EXECUTIVE SUMMARY
5. VOICE OF CUSTOMERS
6. SOUTH AMERICA MARINE ENGINES MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Ship Type (Oil Tankers, Bulk Carriers, General Cargo Ships, Container Ships, Gas Carriers, Chemical Tankers, and Others)
6.2.2. By Capacity (0-10000 HP, 10000-20000 HP, 20000-30000 HP, 30000-40000HP)
6.2.3. By Fuel (Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil)
6.2.4. By Speed (High Speed, Medium Speed, Low Speed)
6.2.5. By Stroke (Two-Stroke, Four-Stroke)
6.2.6. By Engine (Propulsion Engine, Auxiliary Engine)
6.2.7. By Country
6.3. By Company (2022)
6.4. Market Map
7. BRAZIL MARINE ENGINES MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Ship Type
7.2.2. By Capacity
7.2.3. By Fuel
7.2.4. By Speed
7.2.5. By Stroke
7.2.6. By Engine
8. ARGENTINA MARINE ENGINES MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Ship Type
8.2.2. By Capacity
8.2.3. By Fuel
8.2.4. By Speed
8.2.5. By Stroke
8.2.6. By Engine
9. VENEZUELA MARINE ENGINES MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Ship Type
9.2.2. By Capacity
9.2.3. By Fuel
9.2.4. By Speed
9.2.5. By Stroke
9.2.6. By Engine
10. PERU MARINE ENGINES MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Ship Type
10.2.2. By Capacity
10.2.3. By Fuel
10.2.4. By Speed
10.2.5. By Stroke
10.2.6. By Engine
11. CHILE MARINE ENGINES MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Ship Type
11.2.2. By Capacity
11.2.3. By Fuel
11.2.4. By Speed
11.2.5. By Stroke
11.2.6. By Engine
12. MARKET DYNAMICS
12.1. Drivers
12.2. Challenges
13. MARKET TRENDS & DEVELOPMENTS
14. COMPANY PROFILES
14.1. Caterpillar Inc.
14.1.1. Business Overview
14.1.2. Key Revenue and Financials (if available)
14.1.3. Recent Developments
14.1.4. Key Personnel
14.1.5. Key Products/Services
14.2. Cummins Inc.
14.2.1. Business Overview
14.2.2. Key Revenue and Financials (if available)
14.2.3. Recent Developments
14.2.4. Key Personnel
14.2.5. Key Products/Services
14.3. Hyundai Heavy Industries Co. Ltd.
14.3.1. Business Overview
14.3.2. Key Revenue and Financials (if available)
14.3.3. Recent Developments
14.3.4. Key Personnel
14.3.5. Key Products/Services
14.4. MAN Energy Solutions
14.4.1. Business Overview
14.4.2. Key Revenue and Financials (if available)
14.4.3. Recent Developments
14.4.4. Key Personnel
14.4.5. Key Products/Services
14.5. Mercury Marine
14.5.1. Business Overview
14.5.2. Key Revenue and Financials (if available)
14.5.3. Recent Developments
14.5.4. Key Personnel
14.5.5. Key Products/Services
14.6. Mitsubishi Heavy Industries Inc
14.6.1. Business Overview
14.6.2. Key Revenue and Financials (if available)
14.6.3. Recent Developments
14.6.4. Key Personnel
14.6.5. Key Products/Services
14.7. Rolls Royce PLC
14.7.1. Business Overview
14.7.2. Key Revenue and Financials (if available)
14.7.3. Recent Developments
14.7.4. Key Personnel
14.7.5. Key Products/Services
14.8. Volvo Penta
14.8.1. Business Overview
14.8.2. Key Revenue and Financials (if available)
14.8.3. Recent Developments
14.8.4. Key Personnel
14.8.5. Key Products/Services
14.9. Wartsila Corporation
14.9.1. Business Overview
14.9.2. Key Revenue and Financials (if available)
14.9.3. Recent Developments
14.9.4. Key Personnel
14.9.5. Key Products/Services
14.10. Yanmar Holdings Co. Ltd.
14.10.1. Business Overview
14.10.2. Key Revenue and Financials (if available)
14.10.3. Recent Developments
14.10.4. Key Personnel
14.10.5. Key Products/Services
15. STRATEGIC RECOMMENDATIONS
16. ABOUT US & DISCLAIMER
2. RESEARCH METHODOLOGY
3. IMPACT OF COVID-19 ON THE SOUTH AMERICA MARINE ENGINES MARKET
4. EXECUTIVE SUMMARY
5. VOICE OF CUSTOMERS
6. SOUTH AMERICA MARINE ENGINES MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Ship Type (Oil Tankers, Bulk Carriers, General Cargo Ships, Container Ships, Gas Carriers, Chemical Tankers, and Others)
6.2.2. By Capacity (0-10000 HP, 10000-20000 HP, 20000-30000 HP, 30000-40000HP)
6.2.3. By Fuel (Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil)
6.2.4. By Speed (High Speed, Medium Speed, Low Speed)
6.2.5. By Stroke (Two-Stroke, Four-Stroke)
6.2.6. By Engine (Propulsion Engine, Auxiliary Engine)
6.2.7. By Country
6.3. By Company (2022)
6.4. Market Map
7. BRAZIL MARINE ENGINES MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Ship Type
7.2.2. By Capacity
7.2.3. By Fuel
7.2.4. By Speed
7.2.5. By Stroke
7.2.6. By Engine
8. ARGENTINA MARINE ENGINES MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Ship Type
8.2.2. By Capacity
8.2.3. By Fuel
8.2.4. By Speed
8.2.5. By Stroke
8.2.6. By Engine
9. VENEZUELA MARINE ENGINES MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Ship Type
9.2.2. By Capacity
9.2.3. By Fuel
9.2.4. By Speed
9.2.5. By Stroke
9.2.6. By Engine
10. PERU MARINE ENGINES MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Ship Type
10.2.2. By Capacity
10.2.3. By Fuel
10.2.4. By Speed
10.2.5. By Stroke
10.2.6. By Engine
11. CHILE MARINE ENGINES MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Ship Type
11.2.2. By Capacity
11.2.3. By Fuel
11.2.4. By Speed
11.2.5. By Stroke
11.2.6. By Engine
12. MARKET DYNAMICS
12.1. Drivers
12.2. Challenges
13. MARKET TRENDS & DEVELOPMENTS
14. COMPANY PROFILES
14.1. Caterpillar Inc.
14.1.1. Business Overview
14.1.2. Key Revenue and Financials (if available)
14.1.3. Recent Developments
14.1.4. Key Personnel
14.1.5. Key Products/Services
14.2. Cummins Inc.
14.2.1. Business Overview
14.2.2. Key Revenue and Financials (if available)
14.2.3. Recent Developments
14.2.4. Key Personnel
14.2.5. Key Products/Services
14.3. Hyundai Heavy Industries Co. Ltd.
14.3.1. Business Overview
14.3.2. Key Revenue and Financials (if available)
14.3.3. Recent Developments
14.3.4. Key Personnel
14.3.5. Key Products/Services
14.4. MAN Energy Solutions
14.4.1. Business Overview
14.4.2. Key Revenue and Financials (if available)
14.4.3. Recent Developments
14.4.4. Key Personnel
14.4.5. Key Products/Services
14.5. Mercury Marine
14.5.1. Business Overview
14.5.2. Key Revenue and Financials (if available)
14.5.3. Recent Developments
14.5.4. Key Personnel
14.5.5. Key Products/Services
14.6. Mitsubishi Heavy Industries Inc
14.6.1. Business Overview
14.6.2. Key Revenue and Financials (if available)
14.6.3. Recent Developments
14.6.4. Key Personnel
14.6.5. Key Products/Services
14.7. Rolls Royce PLC
14.7.1. Business Overview
14.7.2. Key Revenue and Financials (if available)
14.7.3. Recent Developments
14.7.4. Key Personnel
14.7.5. Key Products/Services
14.8. Volvo Penta
14.8.1. Business Overview
14.8.2. Key Revenue and Financials (if available)
14.8.3. Recent Developments
14.8.4. Key Personnel
14.8.5. Key Products/Services
14.9. Wartsila Corporation
14.9.1. Business Overview
14.9.2. Key Revenue and Financials (if available)
14.9.3. Recent Developments
14.9.4. Key Personnel
14.9.5. Key Products/Services
14.10. Yanmar Holdings Co. Ltd.
14.10.1. Business Overview
14.10.2. Key Revenue and Financials (if available)
14.10.3. Recent Developments
14.10.4. Key Personnel
14.10.5. Key Products/Services
15. STRATEGIC RECOMMENDATIONS
16. ABOUT US & DISCLAIMER
