DUBLIN, May 20, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Marine Propulsion Engine Market 2016-2020" report to their offering.
The report forecasts the global marine propulsion engine market to grow at a CAGR of 4.2% during the period 2016-2020.
The first kind of mechanical marine propulsion engines was the steam engines that came into inception during the 19th century. With time, steam engines have been increasingly replaced by two-stroke and four-stroke diesel engines and gas turbine engines from the 20th century onward. The use of LNG (liquefied natural gas) as a fuel in the marine propulsion engine is gaining popularity because of the low-emission advantages it offers over diesel.
An important trend influencing growth is the growing use of marine hybrid propulsion systems. The rising use of hybrid marine propulsion engines can be attributed to the high pollution caused by diesel propulsion engines. Many major ports worldwide and maritime authorities are establishing standards for vessels that operate in designated areas, compelling shipping operators to comply with the emission guidelines in those areas.
According to the report, one factor driving market growth is the surge in commercial shipping. The growth in global commercial shipping is a direct effect of globalization. Since economies worldwide are all interlinked, world trade volume is also affected by the health of the global economy. Therefore, economic development and growth have created enormous opportunities for the marine industry, especially the global demand for and supply of commodities and manufactured goods
Further, the report states that the collapse of the Greek shipbuilding industry will have a significant impact on market growth.
- Hyundai Heavy Industries
- MAN Diesel & Turbo
- Mitsubishi Heavy Industries
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
For more information visit http://www.researchandmarkets.com/research/mbzql9/global_marine
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SOURCE Research and Markets