Global Marine Engines Market to Expand Rapidly Due to Expansion of the Global Seaborne Transport Industry

Albany, New York, April 21, 2017:  Market Research Reports Search Engine (MRRSE) has announced the addition of a new report focusing on the performance of the marine engines market on a global scale. This report is titled as “Marine Engines Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”, which provides a proper understanding of all the crucial elements of the present state and future prospect of the global marine engines market.

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This report offers a 360-degree overview of the industry and its key segments and sub-segments. Market dynamics such as drivers, restraints, risks, major trends influencing growth have been duly analyzed in the report, along with regulatory factors across major regional territories including technological and product developments and competitive scenario of the market. The in-depth market data enclosed in the report has been compiled with the help of different research methodologies to fulfill the specific needs of policy makers in the global marine engines market.

According to the report, increase in the number of marine travelers, the rapid expansion of the global marine transport industry, the introduction of technologically advanced machinery and reliable engines, along with economic stability and increasing disposable incomes of the general people are the major factors driving the global marine engines market. Strict government regulations about emissions from marine vessels increased awareness among customers about environmental degradation and diminishing reserves of conventional fuels are likely to boost the development of products that confirm to these strict regulatory emission norms and work with eco-friendly fuels such as solar, LNG and wind power. Yet, the diesel marine engines segment is expected to continue to dominate the marine engines market.

Marine engines can be segmented, according to the type of propulsion system, the power range of engines, fuel used in the engine and major applications. The global marine engines market has been scrutinized on the basis of key regional markets, which are as follows:

  • North America
  • Middle East & Africa
  • Asia Pacific
  • Europe
  • South America

Among these, Asia Pacific is the most dominant market for marine engines on account of the booming shipbuilding industry in countries like China, India, South Korea and Japan. Flourishing marine transport in these regions will also allow them to remain dominant throughout the forecast period. In Europe and North America, the presence of some of the biggest manufacturers of marine engines is likely to drive new investments in the marine engines market in the above-mentioned regions.

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The major companies operating in the global marine engines market include Cummins Engines, GM Powertrain, Caterpillar Inc., Wartsila Corporation and Rolls Royce.

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