Picture
SEARCH
What are you looking for?
Need help finding what you are looking for? Contact Us
Compare

PUBLISHER: SkyQuest | PRODUCT CODE: 1681623

Cover Image

PUBLISHER: SkyQuest | PRODUCT CODE: 1681623

Marine Propulsion Engines Market Size, Share, and Growth Analysis, By Fuel Type (Diesel, Heavy Fuel Oil), By Engine Type (Diesel Engine, Gas Turbine), By Application, By Ship Type, By Power Range, By Region - Industry Forecast 2025-2032

PUBLISHED:
PAGES: 202 Pages
DELIVERY TIME: 3-5 business days
SELECT AN OPTION
PDF & Excel (Single User License)
USD 5300
PDF & Excel (Multiple User License)
USD 6200
PDF & Excel (Enterprise License)
USD 7100

Add to Cart

Marine Propulsion Engines Market size was valued at USD 20.32 billion in 2023 and is poised to grow from USD 21.01 billion in 2024 to USD 27.45 billion by 2032, growing at a CAGR of 3.4% during the forecast period (2025-2032).

The marine propulsion engines market is poised for significant growth, driven by the increasing demand for efficient and sustainable solutions in international trade. The rise in shipping activity and the proliferation of various marine vessels bolster this trend. Manufacturers are prioritizing fuel efficiency and emissions reduction, responding to stringent regulations from bodies like the International Maritime Organization (IMO). This regulatory pressure encourages innovation, leading to the development of hybrid and LNG-powered engines, as well as research into alternative marine fuels. Additionally, the integration of automation and digital control systems is expected to further enhance demand. High investments in modernizing naval fleets present lucrative opportunities for marine propulsion engine suppliers to thrive in this evolving market.

Top-down and bottom-up approaches were used to estimate and validate the size of the Marine Propulsion Engines market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Marine Propulsion Engines Market Segments Analysis

Global Marine Propulsion Engines Market is segmented by Fuel Type, Engine Type, Application, Ship Type, Power Range and region. Based on Fuel Type, the market is segmented into Diesel, Heavy Fuel Oil, Natural Gas and Other Fuels. Based on Engine Type, the market is segmented into Diesel Engine, Gas Turbine, Natural Engine and Other Engine Types. Based on Application, the market is segmented into Passenger, Commercial and Defense. Based on Ship Type, the market is segmented into Container Ship, Tanker, Bulk Carrier, Offshore Vessel, Naval Ship and Passenger Ship. Based on Power Range, the market is segmented into Up to 1,000 kW, 1,001 kW to 5,000 kW, 5,001 kW to 10,000 kW and Above 10,000 kW. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Marine Propulsion Engines Market

The maritime transportation sector is essential for the functioning of the global economy, and the anticipated growth in international trade is expected to significantly increase the demand for marine propulsion engines in the near future. As the world population continues to rise, so does the need for various goods and commodities worldwide. This surge in demand for commercial shipping services will further enhance the requirement for efficient marine propulsion engines, ultimately supporting the industry's growth. With the ongoing expansion of international trade routes and the rising volume of goods transported by sea, the marine propulsion engine market is poised for substantial development.

Restraints in the Marine Propulsion Engines Market

The marine propulsion engines market faces significant restraints primarily due to the substantial investment required for acquiring, installing, and maintaining these systems. The high expenses associated with these engines often deter shipowners from making the necessary capital outlays, which in turn limits their profit margins. This financial reluctance can hinder the overall growth of the marine propulsion engines market. Additionally, the escalating costs of advanced propulsion technologies are anticipated to further restrict market development in the future, as companies weigh the benefits against the financial burden of such investments, ultimately affecting their operational viability and competitiveness in the industry.

Market Trends of the Marine Propulsion Engines Market

The Marine Propulsion Engines market is undergoing a significant transformation driven by a shift towards cleaner and more sustainable technologies. With increasing emphasis on sustainability and stringent emission regulations for marine vessels, there is a rising demand for environmentally friendly propulsion systems. Shipping companies are increasingly adopting alternatives such as liquefied natural gas (LNG), hydrogen fuel cells, battery-electric systems, and hybrid solutions, presenting substantial opportunities for manufacturers and innovators in the industry. This transition not only aligns with global efforts to reduce carbon footprints but also sets the stage for a competitive landscape focused on developing advanced propulsion technologies in the long run.

Product Code: SQMIG20T2015

Table of Contents

Introduction

  • Objectives of the Study
  • Scope of the Report
  • Definitions

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Methods
  • Market Size Estimation
  • Market Assumptions & Limitations

Executive Summary

  • Global Market Outlook
  • Supply & Demand Trend Analysis
  • Segmental Opportunity Analysis

Market Dynamics & Outlook

  • Market Overview
  • Market Size
  • Market Dynamics
    • Drivers & Opportunities
    • Restraints & Challenges
  • Porters Analysis
    • Competitive rivalry
    • Threat of substitute
    • Bargaining power of buyers
    • Threat of new entrants
    • Bargaining power of suppliers

Key Market Insights

  • Key Success Factors
  • Degree of Competition
  • Top Investment Pockets
  • Market Ecosystem
  • Market Attractiveness Index, 2024
  • PESTEL Analysis
  • Macro-Economic Indicators
  • Value Chain Analysis
  • Pricing Analysis
  • Case Studies
  • Regulatory Landscape

Global Marine Propulsion Engines Market Size by Fuel Type & CAGR (2025-2032)

  • Market Overview
  • Diesel
  • Heavy Fuel Oil
  • Natural Gas
  • Other Fuels

Global Marine Propulsion Engines Market Size by Engine Type & CAGR (2025-2032)

  • Market Overview
  • Diesel Engine
  • Gas Turbine
  • Natural Engine
  • Other Engine Types

Global Marine Propulsion Engines Market Size by Application & CAGR (2025-2032)

  • Market Overview
  • Passenger
  • Commercial
  • Defense

Global Marine Propulsion Engines Market Size by Ship Type & CAGR (2025-2032)

  • Market Overview
  • Container Ship
  • Tanker
  • Bulk Carrier
  • Offshore Vessel
  • Naval Ship
  • Passenger Ship

Global Marine Propulsion Engines Market Size by Power Range & CAGR (2025-2032)

  • Market Overview
  • Up to 1,000 kW
  • 1,001 kW to 5,000 kW
  • 5,001 kW to 10,000 kW
  • Above 10,000 kW

Global Marine Propulsion Engines Market Size & CAGR (2025-2032)

  • North America (Fuel Type, Engine Type, Application, Ship Type, Power Range)
    • US
    • Canada
  • Europe (Fuel Type, Engine Type, Application, Ship Type, Power Range)
    • Germany
    • Spain
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (Fuel Type, Engine Type, Application, Ship Type, Power Range)
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Latin America (Fuel Type, Engine Type, Application, Ship Type, Power Range)
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (Fuel Type, Engine Type, Application, Ship Type, Power Range)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Competitive Intelligence

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2024
  • Strategies Adopted by Key Market Players
  • Recent Developments in the Market
  • Company Market Share Analysis, 2024
  • Company Profiles of All Key Players
    • Company Details
    • Product Portfolio Analysis
    • Company's Segmental Share Analysis
    • Revenue Y-O-Y Comparison (2022-2024)

Key Company Profiles

  • Caterpillar Inc. (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Cummins Inc. (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Daihatsu Diesel Mfg. Co. Ltd. (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Hyundai Heavy Industries Co. Ltd. (South Korea)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • MAN Energy Solutions SE (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mitsubishi Heavy Industries Ltd. (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Rolls-Royce PLC (UK)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Wartsila Corporation (Finland)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Yanmar Co. Ltd. (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • General Electric Company (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • ABB Ltd. (Switzerland)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Siemens AG (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Schottel GmbH (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Volvo Penta (Sweden)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • STX Engine Co., Ltd. (South Korea)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Fairbanks Morse, LLC (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Weichai Power Co., Ltd. (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • MTU Friedrichshafen GmbH (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Doosan Infracore Co., Ltd. (South Korea)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments

Conclusion & Recommendations

Have a question?
Picture

Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

Picture

Christine Sirois

Manager - Americas

+1-860-674-8796

Questions? Please give us a call or visit the contact form.
Hi, how can we help?
Contact us!