Overview
The Marine Diesel Engine Market is projected to grow at a CAGR of 3.83% during the forecast period. As per the marine diesel engine market research report, the global market for marine diesel engine is anticipated to grow rapidly by US$6,300 million by 2027. As per analysts, increased focused on energy efficient marine engine along with the growing seaborne trade will drive the market growth throughout the forecast period. The marine diesel engine market research report provides an in-depth analysis of the global marine diesel engine market and its speed, type, application, and stroke segments. The high cost as well as lack of developed infrastructure are the factors which could affect the marine diesel engine market growth during the forecast period. The marine diesel engine market research report by expert analysts is intended to help companies in the marine diesel engine market.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global marine diesel engine market based on type, stroke, speed, and application.
Based on type, the marine diesel engine market is segmented into propulsion and auxiliary. Of these, the auxiliary segment will lead the market over the forecast period.
Based on speed, the marine diesel engine market is segmented into high-speed, medium-speed, and low-speed. Of these, high-speed segment will dominate the market over the forecast period.
Based on stroke, the global marine diesel engine market is segmented into 4 stroke and 2 stroke. Of these, the 4 stroke segment will have a major share in the market over the forecast period.
By application, the global marine diesel engine market is segmented into cruise ship, cargo ship, and others. Of these, the cargo segment will spearhead the market over the forecast period.
Regional Analysis
Region-wise, the global marine diesel engine market has been segmented into North America, Asia Pacific, Europe, and the rest of the world.
Asia Pacific (APAC) is the most lucrative market for marine diesel engine, and the trend is likely to continue during the assessment period. In 2017, the region had a market share of 38.98%. The market has seen a substantial increase in APAC over the last two decades; seaborne trade has flourished in China, South Korea, and India. The adoption of emerging maritime technologies and the modernization of ships remain a center point for local policymakers. The advent of new maritime safety policies and marine pollution control regulations are major factors expected to influence the APAC market during the forecast period.
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Key Players
Greaves Cotton Limited, Cox Marine, Deere & Company, China Shipbuilding Industry Group Diesel Engine Co., Ltd., Yanmar Co Ltd., STX Engine, Caterpillar, Hyundai Heavy Industries Co., Ltd., Japan Engine Corporation, Cummins Inc., AGCO Power Inc., Kirlosker Oil Engines Ltd., Honda Motor Co., Ltd.
Companies are adopting different growth strategies to boost their market place and to become more competitive. Many of the above listed companies are engaged in partnerships and alliances. The development of new technologies and product innovation is also a key area of focus for market players. In 2017, Caterpillar had the largest market share of 10.9%, followed by Cummins Inc. at 8.3% and Yanmar Co Ltd. at 4.1%.
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The Marine Diesel Engine market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the marine diesel engine market include Rolls Royce, Caterpillar, Wärtsilä, Volvo Penta, Cummins, John Deere, Dresser-Rand Group, Man Energy Solutions, GE Transportation, and Brunswick Corporation among others.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Marine Diesel Engine Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/marine-diesel-engine-market/download-sampleMarket DynamicsGrowing marine freight transport and rising maritime tourism are the predominant drivers of the global marine diesel engine.
The other market boosters are higher efficiency and durability of marine diesel engines, inclining preferences toward diesel engines, advancement in technology, and growing attempts by the shipping industry to enhance the system.
The other factors that are supporting the market include decreasing crude oil prices and rising global commercial trade.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
