Global marine propulsion engine market size is expected to grow at a CAGR of 3.5% between 2021 and 2026 – The Bite

A marine propulsion engine refers to a machine that burns fuel and allows ships to move through water. It includes piston, towers, valves, crankcases, bedplates, crankcases, bearings, crankshafts, flywheels, generators, transformers, rotor blade gearboxes, control panels control, electrical controls and cylinder blocks and liners. The marine propulsion engine has generators that provide electrical power to the engines and can run on heavy fuel oil. Currently, marine propulsion engines are widely used in modern merchant ships and offshore support vessels.

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Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

Global marine propulsion engine market trends

The growing number of international trading activities increases the demand for container ships to transport many commodities, such as petroleum, natural gas, minerals, and other consumer products. This mainly strengthens the global marine propulsion engine market. Additionally, the growing focus on reducing fossil fuel consumption is propelling the adoption of marine electric propulsion motors worldwide. Additionally, the increasing inclination towards Liquefied Natural Gas (LNG) based propulsion engines is further catalyzing the market growth.

Additionally, growing environmental awareness is resulting in the use of cleaner and safer fuels, such as algae oils and biomethane, to run marine propulsion engines with nominal exhaust emissions. Additionally, several market players are heavily investing in extensive R&D activities to improve the efficiency of marine propulsion engines to increase the cargo capacity of next-generation tankers, which is expected to bolster the market growth over the coming years. expected years.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.

AB Volvo (publ) (VLVLY), Caterpillar, Inc. (CAT), Cummins Inc.’s (NYSE:CMI), Fairbanks Morse, Hyundai Heavy Industries Holdings Co., Ltd. (267250.KS), MAN SE ST ON (MAN.DE), Masson Marine, Mitsubishi Heavy Industries, Ltd. (MHVYF), Rolls-Royce Plc and Wärtsilä Oyj Abp.

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The report has segmented the market based on engine type, power source, power range, vessel type and region.

Breakdown of the market by engine type:

2-stroke engine
4-stroke engine

Market Breakdown by Power Source:

Diesel
Gas turbine
Natural gas
Steam turbine
Fuel cell
Others

Breakdown of the market by power range:

80-750 HP
751-5000 HP
5001-10,000 HP
10,001-20,000 HP
Above 20,000 HP

Breakdown of the market by type of vessel:

Dump truck
Container ship
Passenger ships
Support ships
Cisterns
Gas carriers
military ships
Others

Market Breakdown by Region:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

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