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Future Trends Of Marine Propulsion Engine Market

The marine propulsion engine market was valued at $9 billion in 2015 and is projected to reach $12 billion by 2022, growing at a CAGR of 4.1% from 2016 to 2022, according to a new report published by Allied Market Research. Diesel propulsion system segment is expected to maintain its dominance throughout the forecast period. Asia-Pacific accounted for the highest share of 51% in 2015, and is anticipated to maintain this trend. Read More At: https://www.alliedmarketresearch.com/marine-propulsion-engine-market Marine propulsion engine creates thrust to move ship across the water by converting chemical energy to mechanical energy. Increase in production & sales of ships globally and rise in international seaborne trade drives the market growth. In addition, increase in demand for resources such as crude oil, coal, steel, and iron from developing countries is another driver for the growth of the market. However, stringent environmental rules & regulations and large capital investment required to set up new manufacturing facilities hamper the market growth. Moreover, rise in usage of inland waterways and advancement in technology, such as new alternative fuel propulsion engine, are expected to provide lucrative opportunities for new products and boost the market growth.

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Future Trends Of Marine Propulsion Engine Market

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  1. Marine Propulsion Engine Market Opportunities and Forecasts, 2014 - 2022 Published Date: Jan 2017 No of Pages: 180

  2.  MARINE PROPULSION ENGINE MARKET - OVERVIEW • The marine propulsion engine market was valued at $9 billion in 2015 and is projected to reach $12 billion by 2022, growing at a CAGR of 4.1% from 2016 to 2022, according to a new report published by Allied Market Research. • Diesel propulsion system segment is expected to maintain its dominance throughout the forecast period. Asia-Pacific accounted for the highest share of 51% in 2015, and is anticipated to maintain this trend. • Marine propulsion engine creates thrust to move ship across the water by converting chemical energy to mechanical energy. Increase in production & sales of ships globally and rise in international seaborne trade drives the market growth. • In addition, increase in demand for resources such as crude oil, coal, steel, and iron from developing countries is another driver for the growth of the market. However, stringent environmental rules & regulations and large capital investment required to set up new manufacturing facilities hamper the market growth. • Read More At: https://www.alliedmarketresearch.com/marine-propulsion-engine-market

  3. MARINE PROPULSION ENGINE MARKET - SEGMENTATION Marine Propulsion Engine Market By Ship Type • Cargo or container ship • Tanker • Bulk carrier • Offshore vessel • Passenger ship • Others By Power Source • Diesel • Gas Turbine • Natural Gas • Others

  4. MARINE PROPULSION ENGINE MARKET - KEY FINDINGS • In 2015, diesel propulsion engine led the overall marine propulsion engine market, and is projected to grow at a CAGR of 2.8% during the forecast period. • Natural gas propulsion engine segment is expected to grow at a remarkable CAGR of 7.1%. • Cargo or container ship segment led the overall market in 2015, and is estimated to grow at a CAGR of 2.8%. • Bulk carrier segment is expected to grow at a remarkable CAGR of 5.4%. • Asia-Pacific accounted for the largest market share in 2015, and is anticipated to grow at a CAGR of 4.5%. • China and South Korea are the major shareholders, accounting for about half share of the Asia-Pacific marine propulsion engine market.

  5. MARINE PROPULSION ENGINE MARKET - KEY PLAYERS • The major players profiled in this report include: • Caterpillar • Cummins Inc. • Rolls-Royce Plc • Wärtsilä • MAN Diesel & Turbo • Hyundai Heavy Industries Co., Ltd. • MITSUBISHI HEAVY INDUSTRIES, LTD. • Scania • YANMAR CO., LTD. • DAIHATSU DIESEL MFG.CO., LTD. • Nigata Power Systems Co., Ltd. • Fairbanks Morse Engine • Masson-Marine • General Electric Company

  6. MARINE PROPULSION ENGINE MARKET - KEY BENEFITS • The report includes an extensive analysis of the factors that drive as well as restrain the global marine propulsion engine market. • The market projections from 2014 to 2022 are included along with the affecting factors. • The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the situations that prevail in the market. • An in-depth analysis of key segments demonstrates stakeholders with different types of ships and different power sources. • Competitive intelligence highlights the business practices followed by leading market players across various geographies.

  7. MARINE PROPULSION ENGINE MARKET – BY GEOGRAPHY • Asia – Pacific • LAMEA • North America • Europe

  8. MARINE PROPULSION ENGINE MARKET – STATEMENT BY ANALYST Marine propulsion engine is a machine, which provides power to ships to move across the water. Adoption rate of alternative fuel propulsion system is high as compared to conventional diesel propulsion system, owing to their advantages such as low CO2 emission, flexibility, and significant NVH performance. Moreover, increase in carbon footprint has fueled the demand for natural gas and fuel cell marine propulsion engine. Asia-Pacific holds the significant share in market due to growth in shipbuilding industry in China & South Korea EshanHira, Research Analyst, Automotive & transportation, Allied Market Research,

  9. POLYMER NANOCOMPOSITES MARKET KEY BENEFITS MARINE PROPULSION ENGINE MARKET – STATEMENT BY ANALYST Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/marine-propulsion-engine-market Follow Us On

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