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Marine Diesel Engines Market Size to register 5% growth rate to 2024: Study

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Key marine diesel engine market players include Wartsilla, MAN D&T, Teekay, NYK Lines, OSK Lines, COSCO, Kawasaki Kisen Kaisha and China Shipping Development.

— The global marine diesel engines market is set to grow at over 5% and surpass USD 7 billion by 2024. Upsurge in investment towards shipbuilding sector along with upsurge in demand for economically viable systems will augment market. In the U.S., the shipbuilding industry contribution was over USD 37.3 billion in 2015 towards the country GDP. Increasing usage as an alternative engine coupled with high reliability will further complement the industry growth.

Decline in crude oil prices coupled with positive outlook towards shipping sector will further propel the marine diesel engines market landscape. Major shipbuilding hubs including South Korea, Japan, and China have witnessed an increase in demand of ship production including container vessels, tanker vessels, and bulk carriers owing to easy fuel availability and cost affordability.

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High speed engines accounted for over 20% of the marine diesel engine market in 2016. Increasing orders for tugboats, freight carriers, and navy vessels will foster the industry outlook. Increasing demand for recreational vessels including ferries and cruise on account of enhancement in standard of living and increasing disposable income will positively encourage the medium speed engines market.

Offshore application accounted for over 18% in global marine diesel engines market share in 2016. Increasing demand for offshore vessels including FPSO, drill ships and rigs owing to rise in shale exploration will augment the business landscape. Upsurge in demand for tankers, container vessels, bulk carriers, and gas carriers will fuel the market for merchant application.

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In 2016, marine diesel engines market from Germany was valued over USD 150 million. Increasing government strategies and initiatives towards development of engine technology will complement the industry outlook.

Increasing shipbuilding companies along with growing investments towards manufacturing of environmentally safe engines will positively impact the marine diesel engine market in China.

Key industry players include Wartsilla, MAN D&T, Teekay, NYK Lines, OSK Lines, COSCO, Kawasaki Kisen Kaisha and China Shipping Development.

Browse key industry insights spread across 250 pages with 228 market data tables & 9 figures & charts from the report, “Marine Diesel Engines Market Size By Technology (Low Speed, Medium Speed, High Speed), By Application (Merchant [Container Vessels, Tankers, Bulk Carriers, Gas Carriers, Roll On/Roll Off], Offshore [Drilling Rigs And Ships, Anchor Handling Vessels, Offshore Research Vessels, Floating Production Units, Platform Supply Vessels], Cruise And Ferry [Cruise Vessels, Passenger Ferries, Cargo Ferries, Fast Ferries, Yachts], Navy), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, Norway, UK, France, Russia, Denmark, China, Japan, South Korea, India, Australia, Vietnam, UAE, Saudi Arabia, Iran, Angola, Egypt, South Africa, Mexico, Brazil, Argentina) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-diesel-engine-market

Table of Contents (ToC) of the report:
Chapter 3. Marine Diesel Engine Market Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distribution landscape
3.4. Innovation landscape
3.5. Regulatory landscape
3.5.1. U.S.
3.5.1.1. MARPOL
3.5.2. UK
3.5.3. Japan
3.5.4. Europe
3.5.5. IMO
3.5.6. China
3.6. Shipbuilding industry trends & forecast
3.7. Global operated fleet, by Operators
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.1.1. Expansion in seaborne trade
3.8.1.2. Cost effective usage
3.8.1.3. Increasing maritime tourism
3.8.2. Industry pitfalls & challenges
3.8.2.1. Stringent regulations against emissions
3.9. Growth potential analysis
3.10. Technology Landscape
3.10.1. Low speed
3.10.2. Medium speed
3.10.3. High speed
3.11. Porter's analysis
3.12. Company market share, 2016
3.12.1. Strategy dashboard
3.12.2. Mergers & acquisitions landscape
3.13. PESTEL analysis
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/marine-diesel-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.

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Organization: Global Market Insights, Inc.
Address: 4 North Main Street Selbyville, Delaware 19975 USA
Phone: 1-888-689-0688
Website: https://www.gminsights.com/pressrelease/marine-diesel-engine-market

Source URL: https://marketersmedia.com/marine-diesel-engines-market-size-to-register-5-growth-rate-to-2024-study/512720

Source: MarketersMedia

Release ID: 512720

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