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New Visiongain report: Marine Propulsion Engine Market Report 2019-2029

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The American Boating Congress produced by the National Marine Manufacturers Association (NMMA), has led Visiongain to publish this timely report. Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others), by Ship Type (Cargo or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others) Plus Financial Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis

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New Visiongain report: Marine Propulsion Engine Market Report 2019-2029

  1. 1. ©notice This material is copyright by visiongain. It is against the law to reproduce any of this material without the prior written agreement of visiongain.You cannot photocopy, fax, download to database or duplicate in any other way any of the material contained in this report. Each purchase and single copy is for personal use only. Marine Propulsion Engine Market Report 2019-2029 Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others), by Ship Type (Cargo or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others) Plus Financial Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis
  2. 2. www.visiongain.com/energy/ Page 47 Marine Propulsion Engine Market Report 2019-2029 Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others); By Ship Type (Cargo or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others) Plus Financial Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis 5.6 Others Marine Propulsion Engine Market Forecast 2019- 2029 Other types of engines include steam turbine, renewable energy, hybrid and fuel cell. A steam turbine consists of a rotor resting on bearings and enclosed in a cylindrical casing. The rotor is turned by steam impinging against attached vanes or blades on which it exerts a force in the tangential direction. Thus, a steam turbine could be viewed as a complex series of windmill-like arrangements, all assembled on the same shaft. Fuel cells offer attractive solutions in energy converters. Some fuel cells have been used in large scale vehicles, such as ships and others are expected to penetrate a variety of markets. Such fuel cells also benefit small-size, low-power demands, such as wireless MEMS (micro- electromechanical systems), including remote sensors, wearable electronics, and environmental monitoring. The market for other types of engines is anticipated to reach US$1,636.1 Mn in 2029 from US$1,171.9 Mn in 2019 growing at a CAGR of 3.4% during the forecast period. Table 5-5 Other Marine Propulsion Engines Market Forecast 2019-2029 (USD Billion, AGR %, CAGR %, Cumulative) Others 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2019-29 Total ($BN) 1.12 1.17 1.22 1.27 1.32 1.34 1.39 1.45 1.50 1.56 1.62 1.64 15.47 AGR (%) 4.3 4.1 3.9 3.8 1.5 4.2 4.1 3.9 3.7 3.6 1.2 CAGR 2019-24 (%) 3.5 2024- 29 3.3 CAGR 2019-29 (%) 3.4 Source: Visiongain 2019 Figure 5-8 Others Marine Propulsion Engine Market Forecast by Region 2019- 2029 ($Mn) Source: Visiongain 2019 0.0 200.0 400.0 600.0 800.0 1,000.0 1,200.0 1,400.0 1,600.0 1,800.0 2019 2020 2021 2022 2023 2025 2026 2027 2028 2029 MarketSize($Mn) North America Europe Asia-Oceania ROW
  3. 3. www.visiongain.com/energy/ Page 86 Marine Propulsion Engine Market Report 2019-2029 Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others); By Ship Type (Cargo or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others) Plus Financial Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis 7.6.5 Other Countries Marine Propulsion Engine Market Forecast 2019- 2029 Marine propulsion engine market for other countries such as South Africa, Saudi Arabia, Kuwait, and Chile Venezuela among others stood over US$265.0 million in 2019 and is expected to reach US$343.7 million by 2029. The countries mentioned above exhibit huge investments in their respective maritime industry that resulted in the growth of its fleet size and increased in sea-borne trade in these nations. All these above- mentioned factors have led towards the growth in the marine propulsion engine market. Figure 7-41 Other Countries Marine Propulsion Engine Market Forecast 2019-2029 (US$ Mn, AGR %) Source: Visiongain 2019 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 AGR(%) MarketSize($Mn) Other Countries AGR (%)
  4. 4. www.visiongain.com/energy/ Page 87 Marine Propulsion Engine Market Report 2019-2029 Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others); By Ship Type (Cargo or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others) Plus Financial Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis 8. Leading Companies in the Marine Propulsion Engine Market The Marine Propulsion Engine Market comprises of raw materials and component providers, product manufacturers, distributors, and end users. The leading players operating in the Marine propulsion engine market include Caterpillar, Cummins Inc., Daihatsu Diesel Mfg. Co. Ltd., Hyundai Heavy Industries Co., Man Se (Man Diesel & Turbo), Mitsubishi Heavy Industries, Ltd., Rolls Royce Plc., Scania, Wärtsilä, Yanmar, Volvo Penta, Doosan, Weichai Power, China Yuchai International, Shanghai Diesel Engine Co. 8.1 Caterpillar Caterpillar Inc. was founded in 1925 and is headquartered in Deerfield, Illinois. The company manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, energy and transportation industries. Its construction industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motor graders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors. The company’s resource industries segment provides electric rope and hydraulic shovels, draglines, track and rotary drills, hard rock vehicles, large track-type vehicles, large mining trucks, longwall miners, large wheel loaders, off-highway trucks, articulated trucks, wheel tractor scrapers, wheel dozers, landfill compactors, soil compactors, machinery components, electronics and control systems, select work tools, and hard rock continuous mining systems. Its energy & transportation segment offers reciprocating engine powered generator sets; reciprocating engines; integrated systems used in the electric power generation industry; turbines, centrifugal gas compressors, and related services; integrated systems and solutions for the marine and oil and gas industries; remanufactured reciprocating engines and components; and diesel-electric locomotives and components, and other rail- related products and services. It’s all other operating segments manufactures filters and fluids, undercarriage, tires, rims, ground engaging tools, fluid transfer products, precision seals, and rubber sealing and connecting components; parts distribution; and digital investments services. The company was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986.

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