San Francisco, 15 January 2019: The Report Marine Propulsion Engines Market Analysis By Product (Diesel Propulsion, Wind
Propulsion, Gas Turbine Propulsion, Fuel Cell) And Segment Forecasts To 2020
The Global Marine Propulsion Engines Market is expected to reach USD 10.95 billion by 2020,
according to a new study by Grand View Research, Inc. Significant modernization
in marine propulsion as a direct consequence of increased demand for
operationally dependable and financially efficient ships is expected to drive
the marine propulsion engines market. The shipping industry has started to
focus more on reducing fossil fuel consumption by developing electric motors
which also help increase energy efficiency.
The market is expected to be hindered by
regulations of the International Convention for the Prevention of Pollution
from Ships (MARPOL), which apply principally to the protection of the marine
environment and prevention of contamination by oil, chemical spills, sewage,
marine species, and air pollution by engine exhaust gases. With the advancement
in technology and increasing awareness pertaining to environmental
conservation, development of propulsion systems that run on alternate fuels and
with minimal emissions has garnered special importance.
Although wind and solar energy have gained
prominence as auxiliary propulsion sources in the marine propulsion engines
market, they are inadequate to suffice the power requirements for primary
propulsion purposes.
Access
Research Report of Marine Propulsion Engines Market @ www.grandviewresearch.com/industry-analysis/marine-propulsion-engines-market
Further key findings from the study suggest:
· High reliability and easy operability have
resulted in diesel engines being the most extensively used to meet the primary
as well as auxiliary ship propulsion needs in the marine industry. Presence of
well-established spare part and repair networks globally coupled with
availability of trained engineers and established training facilities has
further driven the diesel marine propulsion engines demand.
· Depleting conventional and shale gas
reserves have led to the increase in the demand for liquefied natural gas (LNG)
as a marine fuel which involve dual fuel diesel (DFD) engines as prime movers.
Wind energy and solar energy have gained prominence as auxiliary power
generating sources as they do not emit harmful pollutants. Although steam
turbine systems were traditionally used as prime movers, they have been
increasingly substituted by diesel and dual fuel diesel (DFD) engines. Steam
marine propulsion engines are still used in niche applications such as coal
carriers and LNG carriers.
· Asia Pacific accounted for a substantial
share of the overall marine propulsion engines market revenue in 2013, which
can be attributed to significant investments by countries in the Far East such
as China and South Korea. North America is among the highest adopters of LNG as
a propulsion medium.
· Leading marine propulsion engines
manufacturers such as Wärtsilä, Rolls-Royce, MAN Diesel, Caterpillar, and
Cummins adopt global multi-sourcing strategies to explore alternative sources
of supply. Marine propulsion engines manufacturers have dedicated professional
sales staff having expertise in the company’s entire product lines for
identifying specific and tailored solutions. The marine propulsion engines
market is characterized by frequent mergers and acquisitions in a bid to
achieve competitive advantage.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/automotive-and-transportation
For the purpose of this study, Grand View
Research has segmented the global marine propulsion engines market on the basis
of product and region:
Marine Propulsion Engines Product Outlook
(Revenue, USD Million, 2012 - 2020)
·
Diesel Propulsion
·
Wind & Solar Propulsion
·
Gas Turbine Propulsion
·
Fuel Cell Propulsion
·
Steam Turbine Propulsion
·
Natural Gas
·
Others
Marine Propulsion Engines Regional Outlook
(Revenue, USD Million, 2012 - 2020)
·
North America
·
EMEA
·
Asia Pacific
·
RoW
Access Press Release of
Marine Propulsion Engines Market@ www.grandviewresearch.com/press-release/global-marine-propulsion-engines-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com