Summary

Marine Engine Market Research Report Information By Fuel (Diesel, Gas, Others), By Power Rating (Upto 1000 kW, 1000-4000 kW, Above 4000 kW), By Type (Auxiliary and Propulsion), Speed (Low-Speed, Medium-Speed, and High-Speed), By Stroke (2-Stroke and 4-Stroke), Application (Cargo Ship, Cruise Ship, and Others), and By Region - Global Forecast to 2030


Market Overview
The Marine Engine Market industry is anticipated to experience a compound annual growth rate (CAGR) of 4.6% from USD 11,418.1 million in 2023 to USD 15,642.8 million by 2030. This growth is expected to occur over the forecast period of 2024 to 2030. A marine engine, also referred to as a ship's engine or boat engine, is a propulsion system or internal combustion engine that is specifically engineered and employed to propel watercraft, including ships, boats, submarines, and other vessels, that operate in bodies of water such as oceans, rivers, and lakes. These engines are designed to operate in the challenging and frequently hostile marine environment.
This growth is influenced by a variety of circumstances, such as the general economic climate, the growing population, and the increasing globalization. Increased demand for energy products and other commodities is also being driven by the ongoing global economic expansion. Furthermore, the demand for products may be bolstered by the improvement of socio-economic standards in emerging markets and the expansion of the manufacturing and industry sectors. With the expansion of maritime commerce, it is anticipated that the demand for environmentally friendly and efficient marine engines for cargo ships will also increase. As a result, the market is expanding.

Market segment insights
The Marine Engine Market has been segmented according to fuel type: Diesel, Gas, and Others. The market is classified as follows: Up to 1000 kW, 1000-4000 kW, and above 4000 kW in terms of power rating.
The marine engine market is segmented into two categories: auxiliary and propulsion. The market is classified as low-speed, medium-speed, and high-speed based on its movement.
The Marine Engine Market is segmented into two categories: 2-stroke and 4-stroke, based on the stroke. The market is classified as cargo ship, cruise ship, and others in terms of application.
Regional Perspectives
The Asia-Pacific region is expected to become the largest expanding global market for marine engines due to the substantial Marine Engine industry. The scale of the marine engine market in the Asia Pacific region is expected to expand at a substantial rate due to the commendable increase in shipbuilding activities. The shipbuilding industry is receiving tax rebates from the administrations in the region. The Asia Pacific market's expansion is primarily fueled by the expansion of the regional shipbuilding industry, the advancement of efficient marine engine technologies, and an increase in maritime trade activities in the region. China remained a prominent manufacturer of general cargo ships, offshore vessels, and bulk carriers. Japan produces chemical tankers, while the Republic of Korea produces gas carriers, oil tankers, and container ships. Four of the eight main shipbuilding businesses are located in South Korea, including Hyundai Heavy Industries in Ulsan, Daewoo Shipbuilding & Marine Engineering (DSME) in Seoul, Samsung Heavy Industries in Geoje, and STX Offshore and Shipbuilding in Jinhae. Additionally, the region is anticipated to experience an increase in the demand for marine engines in the years ahead, as the number of high-value-added LNG carriers contracts continues to increase.

Major Players
GE Transportation (US), Caterpillar (US), Cummins Inc. (US), Rolls-Royce Power Systems (Germany), MAN Energy Solutions (Germany), Wärtsilä (Finland), Mitsubishi Heavy Industries (MHI) Group (Japan), Brunswick (US), Volvo Penta (Sweden), YANMAR (Japan), Scania AB (Sweden), Deere & Company (US), Deutz AG (Germany), Hyundai Heavy Industries Co., Ltd. (South Korea), and STX Engine (Hong Kong) are the primary players in the market.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 GLOBAL MARINE ENGINE MARKET, BY FUEL
1.2 GLOBAL MARINE ENGINE MARKET, BY POWER RATING
1.3 GLOBAL MARINE ENGINE MARKET, BY TYPE
1.4 GLOBAL MARINE ENGINE MARKET, BY SPEED
1.5 GLOBAL MARINE ENGINE MARKET, BY STROKE
1.6 GLOBAL MARINE ENGINE MARKET, BY APPLICATION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP DOWN & BOTTOM UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS
4 MARKET INSIGHTS
5 MARKET DYNAMICS
5.1 INTRODUCTION
5.2 DRIVERS
5.2.1 GROWTH IN INTERNATIONAL MARINE FREIGHT TRANSPORT
5.2.2 GOVERNMENT INITIATIVES TO ACCELERATE THE DEVELOPMENT OF THE SHIP BUILDING INDUSTRY
5.2.3 DRIVERS IMPACT ANALYSIS
5.3 RESTRAINTS
5.3.1 STRINGENT ENVIRONMENTAL REGULATIONS GLOBALY
5.3.2 RESTRAINTS IMPACT ANALYSIS
5.4 OPPORTUNITIES
5.4.1 RISING DEMAND FOR DUAL-FUEL ENGINES
5.5 IMPACT ANALYSIS OF COVID-19 ON MARINE ENGINE MARKET
5.5.1 . IMPACT ON OVERALL MARINE TRANSPORTATION INDUSTRY
5.5.2 IMPACT ON MARINE ENGINE MARKET
5.5.3 IMPACT ON SUPPLY CHAIN OF MARINE ENGINE MARKET
5.5.4 IMPACT ON PRICING
6 MARKET FACTOR ANALYSIS
6.1 SUPPLY/VALUE CHAIN ANALYSIS
6.1.1 RAW MATERIAL SUPPLIERS
6.1.2 COMPONENT PRODUCERS
6.1.3 MANUFACTURING AND ASSEMBLY
6.1.4 SALES AND DISTRIBUTION
6.1.5 END USERS
6.2 PORTER’S FIVE FORCES MODEL
6.2.1 THREAT OF NEW ENTRANTS
6.2.2 BARGAINING POWER OF SUPPLIERS
6.2.3 BARGAINING POWER OF BUYERS
6.2.4 THREAT OF SUBSTITUTES
6.2.5 INTENSITY OF RIVALRY
6.3 DECARBONIZATION TARGET BY 2050 AND IT’S IMPACT ON THE MARINE ENGINE MARKET
7 GLOBAL MARINE ENGINE MARKET, BY FUEL
7.1 OVERVIEW
7.2 DIESEL
7.2.1 DIESEL: MARKET ESTIMATES & FORECAST, BY REGION/COUNTRY, 2024-2030
7.3 GAS
7.3.1 GAS: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
7.4 OTHERS
7.4.1 OTHERS: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
8 GLOBAL MARINE ENGINE MARKET, BY POWER RATING
8.1 OVERVIEW
8.2 UPTO 1000 KW
8.2.1 UPTO 1000 KW: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
8.3 1000-4000 KW
8.3.1 1000-4000 KW: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
8.4 ABOVE 4000 KW
8.4.1 ABOVE 4000 KW: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
9 GLOBAL MARINE ENGINE MARKET, BY TYPE
9.1 OVERVIEW
9.2 AUXILIARY
9.2.1 AUXILIARY: MARKET ESTIMATES & FORECAST, BY REGION/COUNTRY, 2024-2030
9.3 PROPULSION
9.3.1 PROPULSION: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
10 GLOBAL MARINE ENGINE MARKET, BY SPEED
10.1 OVERVIEW
10.2 LOW-SPEED
10.2.1 LOW-SPEED: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
10.3 MEDIUM-SPEED
10.3.1 MEDIUM-SPEED: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
10.4 HIGH-SPEED
10.4.1 HIGH-SPEED: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
11 GLOBAL MARINE ENGINE MARKET, BY STROKE
11.1 OVERVIEW
11.2 2-STROKE
11.2.1 2-STROKE: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
11.3 4-STROKE
11.3.1 4-STROKE: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
12 GLOBAL MARINE ENGINE MARKET, BY APPLICATION
12.1 OVERVIEW
12.2 CARGO SHIP
12.2.1 CARGO SHIP: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
12.3 CRUISE SHIP
12.3.1 CRUISE SHIP: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2024-2030
12.4 OTHER APPLICATIONS
12.4.1 OTHER APPLICATIONS: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2022-2030
13 GLOBAL MARINE ENGINE MARKET, BY REGION
13.1 OVERVIEW
13.2 NORTH AMERICA
13.2.1 U.S.
13.2.2 CANADA
13.2.3 MEXICO
13.3 EUROPE
13.3.1 U.K.
13.3.2 RUSSIA
13.3.3 GERMANY
13.3.4 FRANCE
13.3.5 ITALY
13.3.6 REST OF EUROPE
13.4 ASIA PACIFIC
13.4.1 CHINA
13.4.2 JAPAN
13.4.3 INDIA
13.4.4 SOUTH KOREA
13.4.5 REST OF ASIA PACIFIC
13.5 SOUTH AMERICA
13.5.1 BRAZIL
13.5.2 ARGENTINA
13.5.3 REST OF SOUTH AMERICA
13.6 MIDDLE EAST & AFRICA
13.6.1 SAUDI ARABIA
13.6.2 UAE
13.6.3 SOUTH AFRICA
13.6.4 REST OF MIDDLE EAST & AFRICA
14 COMPETITIVE LANDSCAPE
14.1 COMPETITIVE OVERVIEW
14.2 COMPETITIVE BENCHMARKING
14.3 COMPANY MARKET SHARE ANALYSIS
14.4 KEY DEVELOPMENTS & GROWTH STRATEGIES
14.4.1 COLLABORATIONS /ACQUISTIONS AND PRODUCT LAUNCHES
14.5 KEY DEVELOPMENTS & GROWTH STRATEGIES
14.5.1 PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
15 COMPANY PROFILES
15.1 GE TRANSPORTATION (WABTECH CORPORATION)
15.1.1 COMPANY OVERVIEW
15.1.2 FINANCIAL OVERVIEW
15.1.3 PRODUCTS OFFERED
15.1.4 SWOT ANALYSIS
15.1.5 KEY STRATEGIES
15.2 CATERPILLAR INC.
15.2.1 COMPANY OVERVIEW
15.2.2 FINANCIAL OVERVIEW
15.2.3 PRODUCTS OFFERED
15.2.4 KEY DEVELOPMENTS
15.2.5 SWOT ANALYSIS
15.2.6 KEY STRATEGIES
15.3 CUMMINS INC.
15.3.1 COMPANY OVERVIEW
15.3.2 FINANCIAL OVERVIEW
15.3.3 PRODUCTS/SERVICES OFFERED
15.3.4 SWOT ANALYSIS
15.3.5 KEY STRATEGIES
15.4 ROLLS-ROYCE POWER SYSTEMS AG
15.4.1 COMPANY OVERVIEW
15.4.2 FINANCIAL OVERVIEW
15.4.3 PRODUCTS/SERVICES OFFERED
15.4.4 SWOT ANALYSIS
15.4.5 KEY STRATEGIES
15.5 MAN ENERGY SOLUTIONS
15.5.1 COMPANY OVERVIEW
15.5.2 FINANCIAL OVERVIEW
15.5.3 PRODUCTS OFFERED
15.5.4 KEY DEVELOPMENTS
15.5.5 SWOT ANALYSIS
15.5.6 KEY STRATEGIES
15.6 WÄRTSILÄ CORP
15.6.1 COMPANY OVERVIEW
15.6.2 FINANCIAL OVERVIEW
15.6.3 PRODUCTS/SERVICES OFFERED
15.6.4 KEY DEVELOPMENTS
15.6.5 SWOT ANALYSIS
15.6.6 KEY STRATEGIES
15.7 MITSUBISHI HEAVY INDUSTRIES, LTD
15.7.1 COMPANY OVERVIEW
15.7.2 FINANCIAL OVERVIEW
15.7.3 PRODUCTS/SERVICES OFFERED
15.7.4 SWOT ANALYSIS
15.7.5 KEY STRATEGIES
15.8 BRUNSWICK CORPORATION
15.8.1 COMPANY OVERVIEW
15.8.2 FINANCIAL OVERVIEW
15.8.3 PRODUCTS/SERVICES OFFERED
15.8.4 KEY DEVELOPMENTS
15.8.5 SWOT ANALYSIS
15.8.6 KEY STRATEGIES
15.9 VOLVO PENTA
15.9.1 COMPANY OVERVIEW
15.9.2 FINANCIAL OVERVIEW
15.9.3 PRODUCTS/SERVICES OFFERED
15.9.4 KEY DEVELOPMENTS
15.9.5 SWOT ANALYSIS
15.9.6 KEY STRATEGIES
15.10 YANMAR CO., LTD.
15.10.1 COMPANY OVERVIEW
15.10.2 FINANCIAL OVERVIEW
15.10.3 PRODUCTS/SERVICES OFFERED
15.10.4 SWOT ANALYSIS
15.10.5 KEY STRATEGIES
15.11 SCANIA AB
15.11.1 COMPANY OVERVIEW
15.11.2 FINANCIAL OVERVIEW
15.11.3 PRODUCTS OFFERINGS
15.11.4 SWOT ANALYSIS
15.11.5 KEY STRATEGIES
15.12 DEERE & COMPANY
15.12.1 COMPANY OVERVIEW
15.12.2 FINANCIAL OVERVIEW
15.12.3 PRODUCTS OFFERINGS
15.12.4 SWOT ANALYSIS
15.12.5 KEY STRATEGIES
15.12.6 KEY DEVELOPMENTS
15.13 DEUTZ AG
15.13.1 COMPANY OVERVIEW
15.13.2 PRODUCTS OFFERINGS
15.13.3 SWOT ANALYSIS
15.13.4 FINACIAL INFORMATION
15.13.5 KEY DEVELOPMENTS
15.13.6 KEY STRATEGIES
15.14 HYUNDAI HEAVY INDUSTRIES
15.14.1 COMPANY OVERVIEW
15.14.2 PRODUCTS OFFERINGS
15.14.3 SWOT ANALYSIS
15.14.4 FINACIAL INFORMATION
15.14.5 KEY STRATEGIES
15.15 STX ENGINE
15.15.1 COMPANY OVERVIEW
15.15.2 PRODUCTS OFFERINGS
15.15.3 SWOT ANALYSIS
15.15.4 FINACIAL INFORMATION
15.15.5 KEY DEVELOPMENTS
15.15.6 KEY STRATEGIES