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Marine Diesel Engine Market Report
The Marine Diesel Engine Market is Segmented by Technology Type (Low Speed, Medium Speed, and High Speed), by Application Type (Merchant [Container vessels, Tankers, Bulk Carriers, Gas Carriers, Roll on/Roll off, and Others], Offshore [Drilling Rigs & Ships, Anchor Handling Vessels, Offshore Support Vessels, Floating Production Units, and Platform Supply Vessels], Cruise & Ferry [Cruise Vessels, Passenger Fries, and Passenger/Cargo Vessels], Navy, and Others), and by Region ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Marine Diesel Engine Market is likely to witness a CAGR of 3.6% during the forecast period. Growing seaborne trade across developing economies and increasing demand for economically feasible units with features including fuel efficiency, durability and reliability, shifting inclination of consumers towards diesel engines along with increasing focus of shipping industry on system enhancement, and growing maritime tourism are some of the major factors fueling the market growth during the forecast period.
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Marine Diesel Engine Market – Snapshot |
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Growth |
3.6% for the next five years |
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Major Technology Type |
Low Speed |
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Dominant Application Type |
Merchant |
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Region with the highest demand |
North America |
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Key Players |
Anglo Belgian Corporation, Brunswick Corporation, Caterpillar Inc., Cummins Inc., Daihatsu Diesel Mfg. Co., Ltd., DEUTZ AG, Guangxi Yuchai Group, Hyundai Heavy Industries, IHI Corporation Ltd., and Kawasaki Heavy Industries Ltd. |
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Based on the technology type, the market is segmented as low speed, medium speed, and high speed. Low-speed technology is expected to witness significant growth rate in the market during the forecast period owing to the utilization of low-cost fuel, growing long voyage trade and increase in adoption of merchant vessels among others. Factors such as surge in thermal and oxidation stability properties, decreased cost and reduced polluting emission are the other considerable factors driving the market growth during the forecast period. On the other hand, medium-speed marine diesel engine is also estimated to register considerable growth during the forecast period on account of high thermal efficiency and wide application base.
Based on the application type, the market is segmented as merchant, offshore, cruise & ferry, navy, and others. The merchant marine diesel engine market is estimated to register strong growth owing to growing long international voyage and rapid industrialization across the emerging economies during the forecast period. Factors such as technological improvements and ongoing investments in R&D with emphasis on superior product design are expected to boost the segment’s growth during the forecast period.
On the other hand, the offshore application segment is estimated to witness significant growth rate in the market during the forecast period. The growth of the segment is attributed to the growing awareness about environmental sustainability and increase in retrofitting activities of existing ships with the aim for installing clean engines along with reduction in carbon emission. Also, the cruise & ferry application is estimated to witness constant growth due to increase in purchasing power of consumers along with growing requirements for luxury and comfort.
In terms of regions, North America is estimated to account for the major share of the market with the U.S. being the growth engine of the region during the forecast period. Factors such as increasing incidence of retrofitting activities owing to stringent government mandates coupled with increasing tourism within the Caribbean, growing import and export activities and increase in exploration activities, and ongoing investments toward ship building and booming demand for commercial vessels & battle forces are further expected to fuel the regional market growth over the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Some of the key players in the marine diesel engine market are-
Marine diesel engines are basically a type of engines which operate on diesel fuel and are used as the primary source to provide main propulsion to ships and turn propellers of a ship. They are the most commonly used type of marine engines and have the highest thermal efficiency, being able to extract energy out of fuel.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Marine Diesel Engine Market Research Report - Features |
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Market Segmentation |
3 |
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Regions Covered |
3 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The marine diesel engine market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The marine diesel engine market is expected to witness an impressive growth of 3.6% CAGR in the foreseeable future.
Anglo Belgian Corporation, Brunswick Corporation, Caterpillar Inc., Cummins Inc., Daihatsu Diesel Mfg. Co., Ltd., DEUTZ AG, Guangxi Yuchai Group, Hyundai Heavy Industries, IHI Corporation Ltd., and Kawasaki Heavy Industries Ltd are among the key players in the marine diesel engine market.
North America is expected to account for the major share of the marine diesel engine market during the next five years.
Low-speed technology is expected to witness significant growth in the marine diesel engine market in the coming years.
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