San
Francisco, 28 September 2018 - 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.
Full
Research Report On Global Marine Propulsion Engines Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/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:
www.grandviewresearch.com/industry/automotive-and-transportation
www.grandviewresearch.com/industry/automotive-and-transportation
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 This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-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
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