Marine Engines Market

Global Marine Engines Market Size, Trends & Analysis - Forecasts to 2027 By Engine ( Propulsion Engine, Auxiliary Engine), By Power Range (Up to 1,001- 5,000 HP, 5,001-10,000 HP, 10,001-20,000 HP, Above 20,000 HP), By Fuel (Heavy Fuel Oil, Marine Diesel Oil, Marine Gas Oil) , By Vessel (Offshore Support Vessels, Oil Tankers, Bulk Carriers, General Cargo, Container Ships, Product Tankers, Tugs), By Region (North America, Asia Pacific, Central and South America, Europe, and the Middle East and Africa), Competitive Landscape Company Market Share Analysis, and Competitor Analysis

Category Automotive & Transportation

Format

This report was recently updated on April 12 2024 with the latest and most recent market numbers

Marine Engines Market Size

The Global Marine Engines Market is projected to grow from USD 11.8 Billion in 2022 to USD 13.5 Billion by 2027 at a CAGR value of 2.7% from 2022 to 2027.
Marine Engines convert heat produced by burning fuel into mechanical energy for the proper functioning of marine vessels. Marine engines are typically used in ships for power generation and marine propulsion. When manufacturing ships, it is crucial to choose an efficient marine propulsion system; therefore, marine engines are manufactured and developed with precision. According to the UNCTAD, around 80% of trade takes place through marine transportation, and this percentage is expected to be even higher for developing countries. The dependence of vessels and ships on marine engines has enabled firms to invest in marine engine manufacturing.
The market will be driven during the forecast period by the increase in commercial and defense-related manufacturing of ships and cargo vessels, tremendous growth in marine freight transportation, an increase in cruise ships travels and marine tourism, and the increasing research and development of environmentally safer marine engines such as gas-based marine engines, etc.
global marine engines market

COVID-19 Impact on Global Marine Engines Market

The COVID-19 pandemic affected the maritime industry and the manufacturing industry tremendously. The reduction in trade activities due to pandemic restrictions and the subsequent halt of the commercial manufacturing of ships and cargo vessels has affected the production and distribution of marine engines. Although there has been lesser dependence on marine transportation during the pandemic, the dominance of maritime trade is expected to grow in the post-pandemic period. Trade through shipping routes still continues to dominate the international trade. The post-pandemic period would see a continuation in the manufacturing of ships and marine engines.

Ukraine-Russia War Impact on Marine Industry

The transportation and logistics industry has seen severe disruptions in its activity owing to the conflict between Russia and Ukraine. Disruption in trade routes owing to blockades in the Black Sea and other shipping routes have seen a fall in demand for shipping through seaways. With major shipping companies stopping services to and from Russia, the demand for marine engines is expected to fall from the two countries.

Marine Engines Market: By Engine

The propulsion segment is expected to be the largest segment in the market from 2022 to 2027.

Marine propulsion systems are an important mechanism of maritime transportation, and marine engines that help in efficient movement of the vessels and ships are sought after. Gas turbines, steam turbines and diesel turbines are different types of marine population engines. With the growth in the manufacturing of both small and big ships and the integration of marine propulsion engines in these ships, there are positive expectations about the growth of the propulsion segment in the market.

Marine Engines Market: By Power Range

The above 20,000 HP segment is expected to be the largest segment in the market from 2022 to 2027.

The trend to have higher vessel capacities for transportation of containers is expected to propel the above 20,000 HP model. Increasing international trade among countries has led to higher demand for vessel capacities, and this has subsequently led to the need for above 20,000 HP marine engines for these ships. Large vessels which carry goods and commodities in bulk as well as defense vessels, LNG, and LPG carriers use above 20,000 HP marine engines.

Marine Engines Market: By Fuel

The marine diesel oil segment is expected to be the largest segment in the market from 2022 to 2027.

Marine diesel oils are extensively used in the shipping industry due to its properties of being cost-effective and less flammable. Marine diesel oil also helps in energy efficiency compared to its gasoline counterpart. The average marine diesel oil lasts for around 5,000 to 8,000 hours, making it a reliable source of energy for marine engines.

Marine Engines Market: By Vessel

The container ships are expected to be the fastest-growing market in the region from 2022 to 2027.

Rising globalization has aided the growth of international trade between different regions. Container ships play a crucial role in trading goods and commodities countries. Container ships provide complete protection of goods along with low energy consumption.

asia pacific marine engines market

Marine Engines Market: By Region

As per the geographical analysis, the Marine Engines market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America).

North America (the United States, Canada, and Mexico) will have a dominant share in the Marine Engines market from 2022 to 2027. The major factor driving the growth of the market in the North American region is rising maritime tourism, the collaboration between governments and the shipping industry on maritime technology, and increase in funding by governments for naval defense.

Moreover, the Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific) region is expected to be the fastest-growing segment in the Marine Engines market during the forecast period. Growing maritime trade and tourism and rising investments in manufacturing is expected to be a major contributor to the rapid growth of the APAC marine engine market.

Marine Engines Market Share and Competitor Analysis

Caterpillar (US), Wartsila (Finland), Volkswagen Group (MAN Energy Solutions) (Germany), Rolls-Royce Holdings (UK), Volvo Penta (Sweden), Mitsubishi Heavy Industries, Ltd (Japan), Cummins (US), Hyundai Heavy Industries Co., Ltd (South Korea), Daihatsu Diesel Mfg., Ltd. (Japan), Deutz AG (Germany), WinGD (Switzerland), Siemens Energy (Germany), Fairbanks Morse (US), Wabtec (GE Transportation) (US), Yanmar (Japan), Isotta Fraschini Motori (Italy), CNPC Jichai Power Company Limited (China), Bergen Engines (Norway), Doosan Infracore (South Korea), Mahindra Powerol (India), and IHI Power Systems (Japan), among others are the key players in the marine engines market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Research Methodology

1.1 Research Assumptions

1.2 Research Methodology

1.2.1 Estimates and Forecast Timeline

1.3 Information Procurement

1.3.1 Purchased Database

1.3.2 GME’s Internal Database

1.3.3 Primary Research

1.3.4 Secondary Sources & Third-Party Perspectives

1.3.4.1 Company Information Sources: Annual Reports, Investor Presentation, Press Release, SEC Filing, Company Blogs & Website

1.3.4.2 Secondary Data Sources: Microsoft Corporation, Elsevier, Thomson Reuters, IBM Publications and Database

1.4 Information or Data Analysis

1.4.1 Data Analysis Models

1.5 Market Fuel & Data Visualization

1.6 Data Validation & Publishing

1.7 Market Model

1.7.1 Model Details

1.7.1.1 Top-Down Approach

1.7.1.2 Bottom-Up Approach

1.8 Market Segmentation & Scope

1.9 Market Definition

Chapter 2 Executive Summary

2.1. Global Market Outlook

2.2 Engine Outlook

2.3 Power Range Outlook

2.4 Fuel Outlook

2.5 Vessel Outlook

2.6 Regional Outlook

Chapter 3 Global Marine Engines Market Trend Analysis

3.1. Market Introduction

3.2 Penetration & Growth Prospect Mapping

3.3 Impact of COVID-19 on the Marine Engines Market

3.4 Metric Data on Shipping & Logistics Industry

3.5 Market Dynamic

3.5.1 Market Driver Analysis

3.5.2 Market Restraint Analysis

3.5.3 Industry Challenges

3.5.4 Industry Opportunities

3.6 Porter’s Five Analysis

3.6.1 Supplier Power

3.6.2 Buyer Power

3.6.3 Substitution Threat

3.6.4 Threat from New Entrant

3.7 Market Entry Strategies

Chapter 4 Marine Engines Market: Engine Trend Analysis

4.1 Engine: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

4.2 Propulsion Engine

4.2.1 Market Estimates & Forecast Analysis of Propulsion Engine Segment, By Region, 2019-2027 (USD Billion)

4.3 Auxiliary Engine

4.3.1 Market Estimates & Forecast Analysis of Auxiliary Engine Markets Segment, By Region, 2019-2027 (USD Billion)

Chapter 5 Marine Engines Market: Power Range Trend Analysis

5.1 Power Range: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

5.2 Up to 1,001- 5,000 HP

5.2.1 Market Estimates & Forecast Analysis of Up to 1,001- 5,000 HP Segment, By Region, 2019-2027 (USD Billion)

5.3 5,001-10,000 HP

5.3.1 Market Estimates & Forecast Analysis of 5,001-10,000 HP Segment, By Region, 2019-2027 (USD Billion)

5.4 10,001-20,000 HP

5.4.1 Market Estimates & Forecast Analysis of 10,001-20,000 HP Segment, By Region, 2019-2027 (USD Billion)

5.5 5,001-10,000 HP

5.5.1 Market Estimates & Forecast Analysis of 5,001-10,000 HP Segment, By Region, 2019-2027 (USD Billion)

Chapter 6 Marine Engines Market: Fuel Trend Analysis

6.1 Fuel: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

6.2 Heavy Fuel Oil

6.2.1 Market Estimates & Forecast Analysis of Heavy Fuel Oil Segment, By Region, 2019-2027 (USD Billion)

6.3 Marine Diesel Oil

6.3.1 Market Estimates & Forecast Analysis of Marine Diesel Oil Segment, By Region, 2019-2027 (USD Billion)

6.4 Marine Gas Oil

6.4.1 Market Estimates & Forecast Analysis of Marine Gas Oil Segment, By Region, 2019-2027 (USD Billion)

6.5 Others

6.5.1 Market Estimates & Forecast Analysis of Others Segment, By Region, 2019-2027 (USD Billion)

Chapter 7 Marine Engines Market: Vessel Trend Analysis

7.1 Vessel: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

7.2 Offshore Support Vessels

7.2.1 Market Estimates & Forecast Analysis of Offshore Support Vessels Segment, By Region, 2019-2027 (USD Billion)

7.3 Oil Tankers

7.3.1 Market Estimates & Forecast Analysis of Oil Tankers Segment, By Region, 2019-2027 (USD Billion)

7.4 Bulk Carriers

7.4.1 Market Estimates & Forecast Analysis of Bulk Carriers Segment, By Region, 2019-2027 (USD Billion)

7.5 General Cargo

7.5.1 Market Estimates & Forecast Analysis of General Cargo Segment, By Region, 2019-2027 (USD Billion)

7.6 Container Ships

7.6.1 Market Estimates & Forecast Analysis of Container Ships Segment, By Region, 2019-2027 (USD Billion)

7.7 Product Tankers

7.7.1 Market Estimates & Forecast Analysis of Product Tankers Segment, By Region, 2019-2027 (USD Billion)

7.8 Tugs

7.8.1 Market Estimates & Forecast Analysis of Tugs Segment, By Region, 2019-2027 (USD Billion)

Chapter 8 Marine Engines Market, By Region

8.1 Regional Outlook

8.2 North America

8.2.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.2.2 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.2.3 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.2.4 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.2.5 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.2.6 U.S.

8.2.6.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.2.6.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.2.6.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.2.6.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.2.7 Canada

8.2.7.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.2.7.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.2.7.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.2.7.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.2.8 Mexico

8.2.8.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027 (USD Billion)

8.2.8.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027 (USD Billion)

8.2.8.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027 (USD Billion)

8.2.8.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3 Europe

8.3.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.3.2 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.3.3 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.3.4 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.3.5 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3.6 Germany

8.3.6.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.3.6.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.3.6.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.3.6.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3.7 UK

8.3.7.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.3.7.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.3.7.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.3.7.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3.8 France

8.3.8.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.3.8.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.3.8.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.3.8.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.3.9.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.3.9.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.3.9.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3.10 Italy

8.3.10.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.3.10.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.3.10.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.3.10.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3.11 Spain

8.3.11.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.3.11.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.3.11.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.3.11.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.3.12 Rest of Europe

8.3.12.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027 (USD Billion)

8.3.12.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027 (USD Billion)

8.3.12.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027 (USD Billion)

8.3.12.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.4 Asia Pacific

8.4.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.4.2 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.4.3 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.4.4 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.4.5 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.4.6 China

8.4.6.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.4.6.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.4.6.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.4.6.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.4.7 India

8.4.7.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.4.7.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.4.7.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.4.7.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.4.8 Japan

8.4.8.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.4.8.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.4.8.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.4.8.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.4.9 Australia

8.4.9.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.4.9.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.4.9.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.4.9.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.4.10 South Korea

8.4.10.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.4.10.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.4.10.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.4.10.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.4.11 Rest of Asia Pacific

8.4.11.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027 (USD Billion)

8.4.11.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027 (USD Billion)

8.4.11.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027 (USD Billion)

8.4.11.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.5 Central & South America

8.5.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.5.2 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.5.3 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.5.4 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.5.5 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.5.6 Brazil

8.5.6.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.5.6.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.5.6.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.5.6.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.5.7 Rest of Central & South America

8.5.7.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.5.7.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.5.7.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.5.7.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.6 Middle East & Africa

8.6.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.6.2 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.6.3 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.6.4 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.6.5 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.6.6 Saudi Arabia

8.6.6.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.6.6.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.6.6.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.6.6.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.6.7 United Arab Emirates

8.6.7.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.6.7.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.6.7.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.6.7.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.6.8 South Africa

8.6.8.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027(USD Billion)

8.6.8.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027(USD Billion)

8.6.8.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027(USD Billion)

8.6.8.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

8.6.9 Rest of Middle East & Africa

8.6.9.1 Market Estimates & Forecast Analysis, By Engine, 2019-2027 (USD Billion)

8.6.9.2 Market Estimates & Forecast Analysis, By Power Range, 2019-2027 (USD Billion)

8.6.9.3 Market Estimates & Forecast Analysis, By Fuel, 2019-2027 (USD Billion)

8.6.9.4 Market Estimates & Forecast Analysis, By Vessel, 2019-2027(USD Billion)

Chapter 9 Competitive Analysis

9.1 Key Global Players, Recent Developments & their Impact on the Industry

9.2 Four Quadrant Competitor Positioning Matrix

9.2.1 Key Innovators

9.2.2 Market Leaders

9.2.3 Emerging Players

9.2.4 Market Challengers

9.3 Vendor Landscape Analysis

9.4 End-User Landscape Analysis

9.5 Company Market Share Analysis, 2021

Chapter 10 Company Profile Analysis

10.1 Caterpillar

10.1.1 Company Overview

10.1.2 Financial Analysis

10.1.3 Strategic Initiatives

10.1.4 Engine Benchmarking

10.2 Wartsila

10.2.1 Company Overview

10.2.2 Financial Analysis

10.2.3 Strategic Initiatives

10.2.4 Engine Benchmarking

10.3 Volkswagen Group

10.3.1 Company Overview

10.3.2 Financial Analysis

10.3.3 Strategic Initiatives

10.3.4 Engine Benchmarking

10.4 Rolls-Royce Holdings

10.4.1 Company Overview

10.4.2 Financial Analysis

10.4.3 Strategic Initiatives

10.4.4 Engine Benchmarking

10.5 Volvo Penta

10.5.1 Company Overview

10.5.2 Financial Analysis

10.5.3 Strategic Initiatives

10.5.4 Engine Benchmarking

10.6 Mitsubishi Heavy Industries, Ltd.

10.6.1 Company Overview

10.6.2 Financial Analysis

10.6.3 Strategic Initiatives

10.6.4 Engine Benchmarking

10.7 Hyundai Heavy Industries Co., Ltd.

10.7.1 Company Overview

10.7.2 Financial Analysis

10.7.3 Strategic Initiatives

10.7.4 Engine Benchmarking

10.8 Daihatsu Diesel Mfg., Ltd.

10.8.1 Company Overview

10.8.2 Financial Analysis

10.8.3 Strategic Initiatives

10.8.4 Engine Benchmarking

10.9 Deutz AG

10.9.1 Company Overview

10.9.2 Financial Analysis

10.9.3 Strategic Initiatives

10.9.4 Engine Benchmarking

10.10 WinGD

10.10.1 Company Overview

10.10.2 Financial Analysis

10.10.3 Strategic Initiatives

10.10.4 Engine Benchmarking

10.11 Siemens Energy

10.11.1 Company Overview

10.11.2 Financial Analysis

10.11.3 Strategic Initiatives

10.11.4 Engine Benchmarking

10.12 Other Companies

10.12.1 Company Overview

10.12.2 Financial Analysis

10.12.3 Strategic Initiatives

10.12.4 Engine Benchmarking

List of Tables

1 Technological Advancements In Marine Engines Market

2 Global Marine Engines Market: Key Market Drivers

3 Global Marine Engines Market: Key Market Challenges

4 Global Marine Engines Market: Key Market Opportunities

5 Global Marine Engines Market: Key Market Restraints

6 Global Marine Engines Market Estimates & Forecast Analysis, 2019-2027 (USD Billion)

7 Global Marine Engines Market, By Engine, 2019-2027 (USD Billion)

8 Propulsion Engine: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

9 Auxiliary Engine: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

10 Global Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

11 Up to 1,001- 5,000 HP: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

12 5,001-10,000 HP: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

13 10,001-20,000 HP: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

14 Above 20,000 HP: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

15 Global Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

16 Heavy Fuel Oil: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

17 Marine Diesel Oil: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

18 Marine Gas Oil: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

19 Others: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

20 Global Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

21 Offshore Support Vessels: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

22 Oil Tankers: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

23 Bulk Carriers: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

24 General Cargo: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

25 Container Ships: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

26 Product Tankers: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

27 Tugs: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

28 Regional Analysis: Global Marine Engines Market, By Region, 2019-2027 (USD Billion)

29 North America: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

30 North America: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

31 North America: Marine Engines Market, By Fuel , 2019-2027 (USD Billion)

32 North America: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

33 North America: Marine Engines Market, By Country, 2019-2027 (USD Billion)

34 U.S: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

35 U.S: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

36 U.S: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

37 U.S: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

38 Canada: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

39 Canada: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

40 Canada: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

41 Canada: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

42 Mexico: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

43 Mexico: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

44 Mexico: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

45 Mexico: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

46 Europe: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

47 Europe: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

48 Europe: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

49 Europe: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

50 Germany: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

51 Germany: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

52 Germany: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

53 Germany: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

54 UK: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

55 UK: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

56 UK: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

57 UK: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

58 France: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

59 France: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

60 France: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

61 France: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

62 Italy: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

63 Italy: Marine Engines Market, By T Power Range Ype, 2019-2027 (USD Billion)

64 Italy: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

65 ltaly: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

66 Spain: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

67 Spain: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

68 Spain: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

69 Spain: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

70 Rest Of Europe: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

71 Rest Of Europe: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

72 Rest Of Europe: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

73 Rest of Europe: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

74 Asia Pacific: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

75 Asia Pacific: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

76 Asia Pacific: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

77 Asia Pacific: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

78 Asia Pacific: Marine Engines Market, By Country, 2019-2027 (USD Billion)

79 China: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

80 China: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

81 China: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

82 China: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

83 India: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

84 India: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

85 India: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

86 India: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

87 Japan: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

88 Japan: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

89 Japan: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

90 Japan: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

91 South Korea: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

92 South Korea: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

93 South Korea: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

94 South Korea: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

95 Middle East & Africa: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

96 Middle East & Africa: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

97 Middle East & Africa: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

98 Middle East & Africa: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

99 Middle East & Africa: Marine Engines Market, By Country, 2019-2027 (USD Billion)

100 Saudi Arabia: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

101 Saudi Arabia: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

102 Saudi Arabia: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

103 Saudi Arabia: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

104 UAE: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

105 UAE: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

106 UAE: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

107 UAE: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

108 Central & South America: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

109 Central & South America: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

110 Central & South America: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

111 Central & South America: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

112 Central & South America: Marine Engines Market, By Country, 2019-2027 (USD Billion)

113 Brazil: Marine Engines Market, By Engine, 2019-2027 (USD Billion)

114 Brazil: Marine Engines Market, By Power Range, 2019-2027 (USD Billion)

115 Brazil: Marine Engines Market, By Fuel, 2019-2027 (USD Billion)

116 Brazil: Marine Engines Market, By Vessel, 2019-2027 (USD Billion)

117 Caterpillar: Engines Offered

118 Wartsila: Engines Offered

119 Volkswagen Group: Engines Offered

120 Rolls-Royce Holdings: Engines Offered

121 Volvo Penta: Engines Offered

122 Mitsubishi Heavy Industries, Ltd.: Engines Offered

123 Hyundai Heavy Industries Co., Ltd.: Engines Offered

124 Daihatsu Diesel Mfg., Ltd.: Engines Offered

125 Deutz AG: Engines Offered

126 WinGD: Engines Offered

127 Siemens Energy: Engines Offered

128 Other Companies: Engines Offered

List of Figures

1. Global Marine Engines Market Segmentation & Research Scope

2. Primary Research Partners and Local Informers

3. Primary Research Process

4. Primary Research Approaches

5. Primary Research Responses

6. Global Marine Engines Market: Penetration & Growth Prospect Mapping

7. Global Marine Engines Market: Value Chain Analysis

8. Global Marine Engines Market Drivers

9. Global Marine Engines Market Restraints

10. Global Marine Engines Market Opportunities

11. Global Marine Engines Market Challenges

12. Key Marine Engines Market Manufacturer Analysis

13. Global Marine Engines Market: Porter’s Five Forces Analysis

14. PESTLE Analysis & Impact Analysis

15. Caterpillar: Company Snapshot

16. Caterpillar: Swot Analysis

17. Wartsila: Company Snapshot

18. Wartsila: Swot Analysis

19. Volkswagen Group: Company Snapshot

20. Volkswagen Group: Swot Analysis

21. Rolls-Royce Holdings: Company Snapshot

22. Rolls-Royce Holdings: Swot Analysis

23. Volvo Penta: Company Snapshot

24. Volvo Penta: Swot Analysis

25. Mitsubishi Heavy Industries, Ltd.: Company Snapshot

26. Mitsubishi Heavy Industries, Ltd.: Swot Analysis

27. Hyundai Heavy Industries Co., Ltd.: Company Snapshot

28. Hyundai Heavy Industries Co., Ltd.: Swot Analysis

29. Daihatsu Diesel Mfg., Ltd.: Company Snapshot

30. Daihatsu Diesel Mfg., Ltd.: Swot Analysis

31. Deutz AG: Company Snapshot

32. Deutz AG: Swot Analysis

33. Enchandia AB Software: Company Snapshot

34. Enchandia AB Software: Swot Analysis

35. WinGD: Company Snapshot

36. WinGD: Swot Analysis

37. Siemens Energy: Company Snapshot

38. Siemens Energy: Swot Analysis

39. Other Companies: Company Snapshot

40. Other Companies: Swot Analysis

The Global Marine Engines Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Marine Engines Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global marine engines market?

The global marine engines market is projected to grow from USD 11.8 Billion in 2022 to USD 13.5 Billion by 2027 at a CAGR value of 2.7% from 2022 to 2027.

Who are the major vendors in the marine engines market?

Caterpillar (US), Wartsila (Finland), Volkswagen Group (MAN Energy Solutions) (Germany), Rolls-Royce Holdings (UK), Volvo Penta (Sweden), Mitsubishi Heavy Industries, Ltd (Japan), Cummins (US), Hyundai Heavy Industries Co., Ltd (South Korea), Daihatsu Diesel Mfg., Ltd. (Japan), Deutz AG (Germany), WinGD (Switzerland). Siemens Energy (Germany), Fairbanks Morse (US), Wabtec (GE Transportation) (US), Yanmar (Japan), Isotta Fraschini Motori (Italy), CNPC Jichai Power Company Limited (China), Bergen Engines (Norway), Doosan Infracore (South Korea), Mahindra Powerol (India), IHI Power Systems (Japan)among others are the key players in the marine engines market.

What is the Covid-19 impact on future marine engines manufacturers?

What are the major drivers in the marine engines market?

The market will be driven during the forecast period by the increase in commercial and defense-related manufacturing of ships and cargo vessels, tremendous growth in marine freight transportation, an increase in cruise ships travels and marine tourism, and the increasing research and development of environmentally safer marine engines such as gas-based marine engines, etc.

What is the impact of the Ukraine-Russia war on the marine shipping sector?