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2024 Marine Engines Market |Top Companies, Trends and Future Prospects Details for Business Development

New research report on Marine Engines market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Marine Engines market also includes an in-depth study of the industry's competitive scenario.

MGO marine engines market is set to witness growth owing to the paradigm shift by shipowners toward adoption of eco-friendly fuel coupled with introduction of regulations and norms by IMO under the MARPOL. Generation of the lowest fuel concentration of SOx and NOx is one of the distinct feature propelling the product demand.

The U.S. marine engines market is anticipated to exceed USD 1 billion by 2024. Ongoing research activities to develop systems in compliance to the environmental norms will augment the industry landscape. In addition, ongoing retrofitting activities across shipping yards toward the deployment of low emission systems will further complement the product demand.

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Marine Engines market is predicted to exceed USD 13 billion by 2024. Positive outlook toward marine industry along with rising seaborne trade will drive the business growth. In line with developments in the world economy, demand for shipping services witnessed robust growth. According to UNCTAD, in 2016, the global maritime trade volumes increased by 2.6% with container trade accounting for more than 23% of the global marine trade.

2024 Marine Engines Market |Top Companies, Trends and Future Prospects Details for Business Development
2024 Marine Engines Market |Top Companies, Trends and Future Prospects Details for Business Development

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Recreational marine engines market is projected to grow owing to rising disposable income coupled with improving standard of living. Increasing demand for comfort and luxury, resulting in growing investments toward cruise vessels will subsequently boost the industry landscape. Positive outlook toward tourism industry as a result of resurgent economic growth post-recession will further enhance the business landscape.

Positive outlook towards shipbuilding industry along with technological innovations to develop clean fuel engines is set to stimulate Germany marine engines market growth. Shifting focus toward cruise ships, wind farm service, mega yachts, military and ro-pax will boost the product penetration.

Large-scale adoption of vessels including tankers, bulk carriers and cargo will fuel the low-speed marine engines market growth. Global rise across seagoing vessel trade coupled with cost efficient fuel utilization will encourage the product demand. Furthermore, increasing adoption of these products across merchant and container vessels will stimulate the business growth.

Limited maintenance and lightweight unit requirement are the prime imperative factors that will enhance the medium speed marine engines market. In addition, growing maritime tourism along with rising demand for cruise ships and ferries will positively impact the industry outlook. As per FCCA, in 2015, cruise ships voyaged over 23 billion passengers across the globe.

Two-stroke marine engines market is projected to witness strong growth on account of technological advancements for the improvement in operational efficiency to comply with the environmental norms. These systems have thermal efficiency as high as over 50% and offers higher power even at low rotational speed.

Major Highlights from Table of contents are listed below for quick lookup into Marine Engines Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Marine Engines Market
  • Product trends
  • Application trends

Chapter 3. Marine Engines Industry Insights

  • Marine Engines Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Marine Engines industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Marine Engines Market Technology & innovation landscape
  • Industry impact forces
  • Marine Engines Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Marine Engines Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Marine Engines Market
  • SWOT Analysis

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