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Global Marine Engines Market Size Study & Forecast, By Ship Type (Bulk Carriers, General Cargo Ships, Container Ships, Ferries & Passenger Ships, Oil Tankers, Others), By Capacity (300 To 500 Hp, 500 To 1000 Hp, 1001 To 2000 Hp, 2001 To 5000 Hp, More Than 5001 Hp), By Fuel Type (Heavy Fuel Oil, Intermediate Fuel Oil, Others) and Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: GA741D7CD3E2EN
Bizwit Research & Consulting LLP

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Global Marine Engines Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Marine engines play a vital role in marine vessels by transforming the thermal energy generated from burning fuel into mechanical power. They are primarily utilized in ships for both power generation and propulsion purposes. Selecting an efficient marine propulsion system is paramount during ship manufacturing, underscoring the importance of precise development and manufacturing of marine engines to ensure optimal performance. The market growth is driven by key factors such as increasing International marine freight transportation and rising E-commerce and digital trade.

Marine transportation stands out as one of the foremost modes of transportation, particularly for freight, due to its cost-effectiveness. According to a report from the United Nations Conference on Trade and Development (UNCTAD) in November 2021, global trade in merchandise goods experienced notable growth. Imports increased globally by 13.3% while exports rose by 14.3% in 2021. Additionally, UNCTAD data reveals a consistent upward trend in international maritime trade over the past decade (2010–2019). In 2010, global maritime trade totaled 8,408 million tons loaded, reaching 11,076 million tons by 2019. Furthermore, as per UNCTAD findings, approximately 80% of global trade relies on marine transportation, with developing countries projected to exhibit an even greater reliance on this mode of transport. The essential role of marine engines in vessels and ships has spurred investment in marine engine manufacturing by various firms. However, the rise in the adoption of fully electric vessels, and fluctuations in transportation and inventory costs stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Marine Engines Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is leading the Marine Engines market from 2023 to 2030. The market's growth in the North American region is primarily propelled by the surge in maritime tourism, collaborative efforts between governments and the shipping industry to advance maritime technology, and increased government funding for naval defense initiatives. Furthermore, the Asia Pacific region is anticipated to witness the most rapid growth in the Marine Engines market throughout the forecast period. This growth trajectory is fueled by the expanding maritime trade and tourism sectors, as well as heightened investments in manufacturing, which serve as significant drivers for the robust growth of the APAC marine engine market.

Major market players included in this report are:

Hyundai Heavy Industries Co., Ltd.

Caterpillar Inc.

Cummins Inc.

MAN Energy Solutions

Mercury Marine

Mitsubishi Heavy Industries Ltd.

Rolls Royce plc

Volvo Penta

Wartsila

Yanmar Holdings Co., Ltd.

Recent Developments in the Market:
  • In February 2020, Yanmar, renowned for its marine engines and propulsion systems, joined forces with Smartgyro S.r.l., a specialist in gyro stabilization technology, in a strategic partnership. This collaboration involves extensive cooperation between the two entities, coupled with an equity investment by Yanmar. This investment empowers Smartgyro to expedite the design, development, and introduction of a comprehensive range of cutting-edge gyro stabilizers tailored for both recreational and commercial marine applications.
Global Marine Engines Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered – Ship, Capacity, fuel, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent to up to 8 analysts’ working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Ship Type:

Bulk Carriers

General Cargo Ships

Container Ships

Ferries & Passenger Ships

Oil Tankers

Others

By Capacity:

300 To 500 Hp

500 To 1000 Hp

1001 To 2000 Hp

2001 To 5000 Hp

More Than 5001 Hp

By Fuel Type:

Heavy Fuel Oil

Intermediate Fuel Oil

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Marine Engines Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Marine Engines Market, by Ship Type, 2020-2030 (USD Billion)
  1.2.3. Marine Engines Market, by Capacity, 2020-2030 (USD Billion)
  1.2.4. Marine Engines Market, by Fuel Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL MARINE ENGINES MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL MARINE ENGINES MARKET DYNAMICS

3.1. Marine Engines Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Increasing International Marine Freight Transportation
    3.1.1.2. Rising E-Commerce and Digital Trade
  3.1.2. Market Challenges
    3.1.2.1. Rise In Adoption of Fully Electric Vessels
    3.1.2.2. Fluctuations in Transportation and Inventory Costs
  3.1.3. Market Opportunities
    3.1.3.1. Increase In Investments by Government in Naval Forces
    3.1.3.2. Development of Engine Technology

CHAPTER 4. GLOBAL MARINE ENGINES MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL MARINE ENGINES MARKET, BY SHIP TYPE

5.1. Market Snapshot
5.2. Global Marine Engines Market by Ship Type, Performance - Potential Analysis
5.3. Global Marine Engines Market Estimates & Forecasts by Ship Type 2020-2030 (USD Billion)
5.4. Marine Engines Market, Sub Segment Analysis
  5.4.1. Bulk Carriers
  5.4.2. General Cargo Ships
  5.4.3. Container Ships
  5.4.4. Ferries & Passenger Ships
  5.4.5. Oil Tankers
  5.4.6. Others

CHAPTER 6. GLOBAL MARINE ENGINES MARKET, BY CAPACITY

6.1. Market Snapshot
6.2. Global Marine Engines Market by Capacity, Performance - Potential Analysis
6.3. Global Marine Engines Market Estimates & Forecasts by Capacity 2020-2030 (USD Billion)
6.4. Marine Engines Market, Sub Segment Analysis
  6.4.1. 300 To 500 Hp
  6.4.2. 500 To 1000 Hp
  6.4.3. 1001 To 2000 Hp
  6.4.4. 2001 To 5000 Hp
  6.4.5. More Than 5001 Hp

CHAPTER 7. GLOBAL MARINE ENGINES MARKET, BY FUEL TYPE

7.1. Market Snapshot
7.2. Global Marine Engines Market by Fuel Type, Performance - Potential Analysis
7.3. Global Marine Engines Market Estimates & Forecasts by Fuel Type 2020-2030 (USD Billion)
7.4. Marine Engines Market, Sub Segment Analysis
  7.4.1. Heavy Fuel Oil
  7.4.2. Intermediate Fuel Oil
  7.4.3. Others

CHAPTER 8. GLOBAL MARINE ENGINES MARKET, REGIONAL ANALYSIS

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Marine Engines Market, Regional Market Snapshot
8.4. North America Marine Engines Market
  8.4.1. U.S. Marine Engines Market
    8.4.1.1. Ship Type breakdown estimates & forecasts, 2020-2030
    8.4.1.2. Capacity breakdown estimates & forecasts, 2020-2030
    8.4.1.3. Fuel Type breakdown estimates & forecasts, 2020-2030
  8.4.2. Canada Marine Engines Market
8.5. Europe Marine Engines Market Snapshot
  8.5.1. U.K. Marine Engines Market
  8.5.2. Germany Marine Engines Market
  8.5.3. France Marine Engines Market
  8.5.4. Spain Marine Engines Market
  8.5.5. Italy Marine Engines Market
  8.5.6. Rest of Europe Marine Engines Market
8.6. Asia-Pacific Marine Engines Market Snapshot
  8.6.1. China Marine Engines Market
  8.6.2. India Marine Engines Market
  8.6.3. Japan Marine Engines Market
  8.6.4. Australia Marine Engines Market
  8.6.5. South Korea Marine Engines Market
  8.6.6. Rest of Asia Pacific Marine Engines Market
8.7. Latin America Marine Engines Market Snapshot
  8.7.1. Brazil Marine Engines Market
  8.7.2. Mexico Marine Engines Market
8.8. Middle East & Africa Marine Engines Market
  8.8.1. Saudi Arabia Marine Engines Market
  8.8.2. South Africa Marine Engines Market
  8.8.3. Rest of Middle East & Africa Marine Engines Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. Company
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. Hyundai Heavy Industries Co., Ltd.
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Recent Developments
  9.3.2. Caterpillar Inc.
  9.3.3. Cummins Inc.
  9.3.4. MAN Energy Solutions
  9.3.5. Mercury Marine
  9.3.6. Mitsubishi Heavy Industries Ltd.
  9.3.7. Rolls Royce plc
  9.3.8. Volvo Penta
  9.3.9. Wartsila
  9.3.10. Yanmar Holdings Co., Ltd.

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Marine Engines Market, report scope
TABLE 2. Global Marine Engines Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Marine Engines Market estimates & forecasts by Ship Type 2020-2030 (USD Billion)
TABLE 4. Global Marine Engines Market estimates & forecasts by Capacity 2020-2030 (USD Billion)
TABLE 5. Global Marine Engines Market estimates & forecasts by Fuel Type 2020-2030 (USD Billion)
TABLE 6. Global Marine Engines Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Marine Engines Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Marine Engines Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Marine Engines Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Marine Engines Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Marine Engines Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Marine Engines Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Marine Engines Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Marine Engines Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Marine Engines Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Marine Engines Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Marine Engines Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of Global Marine Engines Market
TABLE 71. List of primary sources, used in the study of Global Marine Engines Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Marine Engines Market, research methodology
FIG 2. Global Marine Engines Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Marine Engines Market, key trends 2022
FIG 5. Global Marine Engines Market, growth prospects 2023-2030
FIG 6. Global Marine Engines Market, porters 5 force model
FIG 7. Global Marine Engines Market, pest analysis
FIG 8. Global Marine Engines Market, value chain analysis
FIG 9. Global Marine Engines Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Marine Engines Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Marine Engines Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Marine Engines Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Marine Engines Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Marine Engines Market, regional snapshot 2020 & 2030
FIG 15. North America Marine Engines Market 2020 & 2030 (USD Billion)
FIG 16. Europe Marine Engines Market 2020 & 2030 (USD Billion)
FIG 17. Asia Pacific Marine Engines Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Marine Engines Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Marine Engines Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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