DUBLIN, Jan. 5, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/q8s393/marine_engine) has announced the addition of the "Marine Engine Market - Global Forecast to 2020" report to their offering.
The growth in this market is attributed to growth in international seaborne trade, stringent environmental norms to reduce harmful gas emissions, advent of new technologies, and growth in the shipbuilding industry.
The report segments the marine engine market on the basis of its propulsion mechanism, which includes two stroke engines, four stroke engines, and diesel electric engines among others. Four stroke engines are the fastest growing type of marine engines as they are quite, smooth, reliable and emit less pollution compared to two-stroke engines.
The inland waterways vessels segment is expected to grow at the highest CAGR during the forecast period. The growing demand for inland waterways vessels in various regions such as Africa, South America, and Europe has led to an increase in its manufacturing.
The majority of inland waterways vessels are built in Asia. The major factors favoring this are low labor and low manufacturing cost. Asia-Pacific has been the leading market for marine engines in 2014, owing to the presence of several major shipbuilding countries such as China, Japan, South Korea, Malaysia, and India.
Asia-Pacific dominates not only in providing low cost vessels, but also in efficient, good quality, and maritime regulated vessels. The commercial vessels and inland waterways vessels are the two fastest growing application segments during the forecast period.
The main challenge of the marine engine market would be the multitude of environmental regulations coming into play for the shipping industry in the next decade. Compliance will have to be met with new technology that is still not mature. This requires investments and creates uncertainty.
Overcapacity in the shipping industry, huge investments required in R&D, high capital required to replace existing vessels with new ones, and low freight rates act as impetus for more fuel-efficient ships. This will affect orders in developing new marine engines, which is a restraining factor of the marine engines market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Marine Engines Market, By Application
7 Commercial Vessels Market, By Region
8 Offshore Support Vessels Market, By Region
9 Inland Waterways Market, By Region
10 Marine Engines Market, By Propulsion
11 Marine Engines Market, By Fuel
12 Marine Engines Market, By Hp Range
13 Marine Engines Market, By Region
14 Competitive Landscape
15 Company Profiles
- Brunswick (Mercury Marine)
- CNH Industrial
- Cummins Inc.
- Daihatsu Diesel MFG. Co. Ltd.
- GE Transportation
- GM Powertrain
- IHI Corporation Ltd.
- John Deere
- Man SE
- Rolls-Royce Holdings Plc
- Wärtsilä Corporation
- Yanmar Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/q8s393/marine_engine
Laura Wood, +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets