The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increase in international seaborne trade is likely to stimulate innovation in the production of marine propulsion engines, propelling the market over the forecast period.

The global marine propulsion engines market is expected to grow from $24.30 billion in 2022 to $25.40 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The global marine propulsion engines market size is expected to reach $31.18 billion in 2027 at a CAGR of 4.1%.

Get A Free Sample On The Global Marine Propulsion Engines Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9298&type=smp

Global Marine Propulsion Engines Market Segments Include:

• By Engine Type: 2-Stroke Engine, 4- Stroke Engine
• By Ship Type: Cargo Or Container Ships, Tanker, Bulk Carrier, Offshore Vessel, Passenger Ship, Other Ship Types
• By Power Range: 0-1,000 HP, 1,001-5,000 HP, 5,001-10,000 HP, 10,001-20,000 HP, Above 20,000 HP
• By Fuel Type: Diesel, Heavy Fuel Oil, Natural Gas, Other Fuel Types
• By Application: Commercial, Defense, Passenger
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global marine propulsion engines market in 2021.

Major Market Players in the marine propulsion engines market include Caterpillar, Daihatsu Diesel Mfg. Co. Ltd., Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc., Wärtsilä, Yanmar Holdings Co. Ltd., Scania.

Product innovations are the most prevalent trend in the marine propulsion engine market. To increase their market position, major businesses in the marine propulsion engine industry are focusing on developing novel products. For example, AB Volvo Penta, a US-based manufacturer of engines and complete power systems for boats, vessels, and industrial applications, will launch variable-speed marine generator sets for marine electric propulsion in September 2022. The generator set’s distinguishing feature is its smaller battery banks and ability to charge them while in motion, making the move to hybrid-electric marine propulsion more economical and realistic. Volvo Penta offers versions ranging from the D8, which has 190 kW, to the D16, which has 545 KWe.

The Marine Propulsion Engines Global Market Report 2023  provides a marine propulsion engines market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The marine propulsion engines market forecast analyzes marine propulsion engines market size, marine propulsion engines market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A marine propulsion engine is a technology that drives ships over the sea while ensuring the marine environment’s safety. These allow for greater fuel and operational flexibility, as well as higher efficiency, lower emissions, and lower operational costs.

Explore Similar Reports From The Business Research Company:

Marine Hybrid Propulsion Global Market Report 2023

Marine Lubricants Global Market Report 2023

Marine Plywood Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: