The marine engines market is projected to reach USD 13.53 billion by 2021, growing at a CAGR of 3.85% from 2016 to 2021. Increased demand for commercial vessels and rise in ship-building industry will drive the growth in the marine engines market.
A slowdown in the oil & gas industry has been identified as a major restraint for the market along with stringent emission norms.
Commercial vessels including bulk cargo carriers, gas carrier vessels, and pleasure vessels will have an increased demand largely due to economic recovery in China and developed economies as well as recovery of the oil & gas industry since the 2015 slow-down.
Another factor would be increased maritime activity, mainly due to high economic growth in emerging economies in South Asia and South-east Asia, particularly in China, Indonesia, and India.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows
- By Company Type: Tier 1- 25%, Tier2-25%, and Tier 3-50%
- By Designation: Director Level-37%, C-Level-25%, and Others*-38%
- By Region: Americas-25%, EMEA-37%, Asia-Pacific-38%
Research Coverage:
The report segments marine engines by Vessel Type (Commercial and Offshore support vessels), by Fuel (Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil & Other fuels), by Power (up to 1,000 HP, 1,001 to 5,000 HP, 5,001 to 10,000 HP, 10,000 to 20,000 HP and above 20,000 HP) and by Region. It also covers an analysis of the value chain, a competitive landscape, market dynamics, market estimates in terms of value, and future trends in the transformer monitoring system market.
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Source: RnR Market Research:
