PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1535640
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1535640
Marine Reciprocating Engine Market Size - By Rated Power (0.5 MW - 1 MW, > 1 MW - 2 MW, > 2 MW - 3.5 MW, > 3.5 MW - 5 MW, > 5 MW - 7.5 MW, > 7.5 MW), By Fuel (Gas, Diesel), By Regional Outlook & Forecast, 2024 - 2032
Marine Reciprocating Engine Market size will witness 5.8% CAGR from 2024 to 2032, due to rapid digitalization and integration of IoT for optimizing engine performance and maintenance.
Rising innovations in engine technology, such as improved fuel injection systems, advanced turbocharging, and hybrid propulsion systems are enhancing the engine efficiency, performance, and reliability. For instance, in December 2023, MAN Engines expanded its engine portfolio by launching its MAN D3872 engine series for workboats to offer lower fuel consumption and optimal raw emissions. The growing adoption of alternative fuels like LNG, hydrogen, and biofuels to help meet the emission standards and reduce the carbon footprint of marine operations will further influence the product demand.
The marine reciprocating engine industry is classified into fuel, rated power and region.
In terms of fuel, the market size from the gas segment may record a robust CAGR from 2024 to 2032. Gas-fired marine reciprocating engines emit fewer pollutants, such as sulfur oxides (SOx), nitrogen oxides (NOx), and particulate matter, further helping ships to comply with stringent environmental regulations set by regulatory bodies like the International Maritime Organization (IMO). Technological advancements have further made gas-fired engines more efficient for offering better fuel economy and operational performance.
By rated power, the marine reciprocating engine industry value from the > 3.5 MW - 5 MW segment will expand up to 2032. This is owing to their growing usage for a variety of marine applications to offer a good balance between power and fuel efficiency. Engines in the 3.5 MW to 5 MW range are versatile and can be used in different types of vessels, from commercial ships to specialized marine vessels like offshore support ships and icebreakers. This versatility is increasing the product demand across different sectors of the maritime sector.
Europe marine reciprocating engine market size may witness significant CAGR through 2032, led by
the expansion of maritime trade along with strong focus on fuel-efficient engines. The surge in shipping activities is necessitating efficient and reliable engines for both commercial and passenger vessels. Numerous shipowners and operators are investing in engines that offer better fuel economy and lower operational costs, further driving the regional product demand.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Market estimates & forecast parameters
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Strategic outlook
- 4.2 Innovation & sustainability landscape
Chapter 5 Market Size and Forecast, By Fuel (USD Million & MW)
- 5.1 Key trends
- 5.2 Gas
- 5.3 Diesel
- 5.4 Others
Chapter 6 Market Size and Forecast, By Rated Power (USD Million & MW)
- 6.1 Key trends
- 6.2 0.5 MW - 1 MW
- 6.3 > 1 MW - 2 MW
- 6.4 > 2 MW - 3.5 MW
- 6.5 > 3.5 MW - 5 MW
- 6.6 > 5 MW - 7.5 MW
- 6.7 > 7.5 MW
Chapter 7 Market Size and Forecast, By Region (USD Million & MW)
- 7.1 Key trends
- 7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
- 7.2.3 Mexico
- 7.3 Europe
- 7.3.1 UK
- 7.3.2 France
- 7.3.3 Germany
- 7.3.4 Russia
- 7.3.5 Italy
- 7.3.6 Spain
- 7.3.7 Netherlands
- 7.3.8 Denmark
- 7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Thailand
- 7.4.7 Singapore
- 7.5 Middle East & Africa
- 7.5.1 UAE
- 7.5.2 Saudi Arabia
- 7.5.3 Qatar
- 7.5.4 Oman
- 7.5.5 Kuwait
- 7.5.6 Egypt
- 7.5.7 Turkey
- 7.5.8 South Africa
- 7.6 Latin America
- 7.6.1 Brazil
- 7.6.2 Argentina
- 7.6.3 Chile
Chapter 8 Company Profiles
- 8.1 AB Volvo
- 8.2 Anglo Belgian Corporation
- 8.3 Caterpillar
- 8.4 Cummins, Inc.
- 8.5 Daihatsu Diesel Mfg. Co., Ltd.
- 8.6 Deere & Company
- 8.7 DEUTZ AG
- 8.8 HYUNDAI HEAVY INDUSTRIES CO., LTD.
- 8.9 IHI Corporation
- 8.10 Kawasaki Heavy Industries Ltd.
- 8.11 MAN Energy Solutions
- 8.12 Mercury Marine
- 8.13 Mitsubishi Heavy Industries, Ltd.
- 8.14 Rolls-Royce plc
- 8.15 Scania
- 8.16 Siemens Energy
- 8.17 STX HEAVY INDUSTRIES CO., LTD
- 8.18 Wartsila
- 8.19 Yanmar HOLDINGS CO., LTD.
- 8.20 Yuchai International Imp & Exp (Beijing) Co., Ltd.
