Marine Propulsion Engine Market, By Engine Type (Diesel Engine, Gas Turbine, Hybrid Engine, and Others, By Power Output, By Fuel Type, By Geography

Description

The Global Marine Propulsion Engine Market is estimated to be valued at US$ 34.62 Bn in 2024 and is expected to reach US$ 45.36 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 34.62 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	3.90%	2031 Value Projection:	US$ 45.36 Bn

Figure. Marine Propulsion Engine Market Share (%), By Region 2024

The global marine propulsion engine market has been growing steadily over the past few years. Marine propulsion engine refers to the main engine on ships and boats that generates thrust to propel the vessel through water. The demand for marine engines is directly associated with maritime trade and cruise/leisure boating activities. Rise in international seaborne trade fueled by growing population and globalization has positively impacted the demand for marine transportation, thereby augmenting the need for efficient and reliable marine propulsion engines across cargo ships, tankers, passenger vessels, and others. Furthermore, growth in recreational boating especially in developed economies has strengthened the sales of marine engines used in yachts and motorboats.

Market Dynamics:

The global marine propulsion engine market is driven by robust growth in international marine trade volumes and rising consumer demand for recreational boating. Growing trade activities have boosted the demand for cargo ships and tankers for transporting goods through waterways. This has significantly increased the replacement demand for new and efficient marine engines during the upgrade of aging fleets. Additionally, rising maritime tourism and cruising industry has accelerated the production of passenger vessels, thereby fueling the sales of high-power marine propulsion engines. However, fluctuating crude oil prices leading to increased operational costs for ship owners and stringent emission norms introduced by IMO for reducing sulfur emissions pose challenges to market growth. Moreover, the ongoing transition toward hybrid and electric ship technologies presents new opportunities in the coming years.

Key features of the study:

This report provides in-depth analysis of the global marine propulsion engine market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global marine propulsion engine market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include ABC Marine, Caterpillar Inc., Cruise Automation, Doosan Engine, GE Marine, MAN Energy Solutions, Mitsubishi Heavy Industries, Rolls-Royce Holdings plc, Samsung Heavy Industries, Wartsila Corporation, MTU Friedrichshafen GmbH, Hyundai Heavy Industries, Kawasaki Heavy Industries, Siemens Marine, and Yanmar Holdings Co., Ltd.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global marine propulsion engine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global marine propulsion engine market.

Detailed Segmentation:

By Engine Type
- Diesel Engine
- Gas Turbine
- Hybrid Engine
- Others (including Steam Turbine, Nuclear, etc.)
By Power Output
- Less than 10,000 kW
- 10,000 kW to 30,000 kW
- Above 30,000 kW
By Fuel Type
- Heavy Fuel Oil (HFO)
- Marine Diesel Oil (MDO)
- Liquefied Natural Gas (LNG)
- Others (including Biofuels, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- ABC Marine
- Caterpillar Inc.
- Cruise Automation
- Doosan Engine
- GE Marine
- MAN Energy Solutions
- Mitsubishi Heavy Industries
- Rolls-Royce Holdings plc
- Samsung Heavy Industries
- Wartsila Corporation
- MTU Friedrichshafen GmbH
- Hyundai Heavy Industries
- Kawasaki Heavy Industries
- Siemens Marine
- Yanmar Holdings Co., Ltd.

Product Code: CMI5262

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Engine Type
- Market Snippet, By Power Output
- Market Snippet, By Fuel Type
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Marine Propulsion Engine Market, By Engine Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Diesel Engine
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Gas Turbine
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Hybrid Engine
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Hybrid Engine
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others (including Steam Turbine, Nuclear, etc.)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Marine Propulsion Engine Market, By Power Output, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Less than 10,000 kW
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
10,000 kW to 30,000 kW
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Above 30,000 kW
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Marine Propulsion Engine Market, By Fuel Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Heavy Fuel Oil (HFO)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Marine Diesel Oil (MDO)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Liquefied Natural Gas (LNG)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others (including Biofuels, etc.)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Marine Propulsion Engine Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Engine Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Power Output, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Engine Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Power Output, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Engine Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Power Output, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Engine Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Power Output, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Engine Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Power Output, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - Israel
  - GCC Countries
  - Rest of the Middle East &Africa

8. Competitive Landscape

Company Profiles
- ABC Marine
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Caterpillar Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cruise Automation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Doosan Engine
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- GE Marine
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- MAN Energy Solutions
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitsubishi Heavy Industries
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Rolls-Royce Holdings plc
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Samsung Heavy Industries
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Wartsila Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- MTU Friedrichshafen GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Heavy Industries
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kawasaki Heavy Industries
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Siemens Marine
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Yanmar Holdings Co., Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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