$500+ Million Marine Engine Monitoring System Market 2018-2025: Penetration of the Smart Engine for Situational Awareness and Safety

News provided by

May 17, 2018, 09:30 ET

DUBLIN, May 17, 2018 /PRNewswire/ --

The "Marine Engine Monitoring System Market by Engine Type (Propulsion Engine, Auxiliary Engine), End Use (OEM, Aftermarket), Component (Hardware, Software), Ship Type (Commercial, Naval), Deployment (On-Board, Remote) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The marine engine monitoring system market is estimated to be USD 508.4 Million in 2018 and is projected to reach USD 656.5 Million by 2025, at a CAGR of 3.72% during period 2018 to 2025.

This growth can be attributed to the increase in international seaborne trade, the rise in the demand for deliveries of smart engines, recreational boats, and growth in maritime tourism.

The marine engine monitoring system market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The marine engine monitoring system market in Europe is projected to grow at the highest CAGR during the forecast period, owing to increasing investments in the defense sector and restructuring efforts undertaken by ship manufacturing companies in the region.

Asia Pacific is the largest market for marine engine monitoring system. Over the past few years, this region has witnessed rapid economic development as well as the growth of the manufacturing and energy sectors, thereby increasing maritime trade. The rise in seaborne trade has subsequently led to an increase in the demand for ships used to transport manufactured goods worldwide. Thus, the increase in the number of ships has contributed to the growing demand for propulsion systems and propellers in the region. China, South Korea, and Japan are the key markets for marine engine monitoring systems in the Asia Pacific region.

The marine engine monitoring system market is anticipated to witness significant growth in the near future, primarily driven by the growth in international seaborne trade and increased demand for marine propellers from the new shipbuilding & repair market. Increased navy budgets worldwide, rise in the usage of inland waterways, and technological innovations in marine propulsion systems are key opportunities in the market. However, factors such as stringent environmental regulations and uncommon data standards are restraining the growth of the market. Fluctuation in oil prices, shipping overcapacity, and low freight rates are key challenges for market growth.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Marine Engine Monitoring System Market
4.2 Marine Engine Monitoring System Market, By Product Type
4.3 Asia Pacific Marine Engine Monitoring System Market, By Country and Ship Type
4.4 Marine Engine Monitoring System Market, By Sensor Type
4.5 Marine Engine Monitoring System Market, By End User
4.6 Marine Engine Monitoring System Market, By Propulsion Engine Subtype
4.7 Marine Engine Monitoring System Market, By Engine Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Penetration of the Smart Engine for Situational Awareness and Safety
5.2.1.2 Increase in Demand for Remote Engine Monitoring System for Marine Engines
5.2.1.3 Growth in Maritime Tourism
5.2.1.4 Growth in International Marine Freight Transport
5.2.2 Restraints
5.2.2.1 Stringent Environmental Regulations Worldwide
5.2.2.2 Lack of A Common Data Standard
5.2.3 Opportunities
5.2.3.1 Increased Naval Budgets Worldwide
5.2.3.2 Development of Big Data Analytics
5.2.4 Challenges
5.2.4.1 Fluctuations in Oil & Gas Prices
5.2.4.2 Shipping Overcapacity
5.2.4.3 Dipping Global Marine Freight Rates

6 Industry Trends
6.1 Introduction
6.2 Intelligent Engine
6.2.1 Features of the Intelligent Engine:
6.2.2 Advantages of the Intelligent Engine:
6.2.2.1 Increase in Engine Reliability:
6.2.2.2 Fuel and Lube Oil Utilization Cost Decreases:
6.2.2.3 Follow Up of Stringent Air Contamination Emission Standards:
6.3 Trends in Marine Engine Monitoring
6.3.1 Artificial Intelligence
6.3.2 Big Data Analytics
6.3.3 Internet of Things (IoT)
6.3.4 Augmented Reality
6.4 Use of New Information Technologies in the Maintenance of Ship Systems
6.4.1 Diagnostic Technology:
6.4.2 Cloud Computing:
6.4.3 Radio-Frequency Identification Technology (RFID):
6.4.4 E-Navigation
6.4.5 Data Fusion Technologies
6.4.6 Open Architecture
6.4.7 Multi-Sensor Data Fusion
6.5 Regulatory Bodies Across Various Regions

7 Marine Engine Monitoring System Market, By Component
7.1 Introduction
7.2 Hardware
7.2.1 Displays and Control Modules
7.2.2 Controller, Routers & Switches
7.2.3 Sensors
7.2.3.1 Temperature Sensor
7.2.3.2 Displacement Sensor
7.2.3.3 Torque Sensor
7.2.3.4 Speed Sensor
7.2.3.5 Pressure Sensor
7.2.3.6 Bearing Wear Monitoring Sensor
7.2.3.7 Vibration Sensor
7.2.3.8 Water in Oil Sensor
7.3 Software

8 Marine Engine Monitoring System Market, By Engine Type
8.1 Introduction
8.2 Propulsion Engine
8.2.1 Gas Turbine
8.2.2 Diesel Engine
8.2.3 Steam Turbine
8.2.4 Dual-Fuel Engine
8.3 Auxiliary Engine

9 Marine Engine Monitoring System Market, By Ship Type
9.1 Introduction
9.2 Commercial
9.2.1 Merchant Ships
9.2.1.1 Bulk Carrier
9.2.1.2 Container Ships
9.2.1.3 Oil Tankers
9.2.1.4 LNG & LPG Tankers
9.2.1.5 Chemical Tankers
9.2.1.6 Passenger Ships
9.2.2 Recreational Boats
9.3 Naval
9.3.1 Surface Naval Ships
9.3.1.1 Aircraft Carriers
9.3.1.2 Amphibious Warfare
9.3.1.3 Auxiliary Ship
9.3.1.4 Corvette
9.3.1.5 Cruiser
9.3.1.6 Destroyer
9.3.1.7 Patrol Crafts
9.3.2 Underwater Naval Ships
9.3.2.1 Submarines

10 Marine Engine Monitoring System Market, By Deployment
10.1 Introduction
10.2 Remote
10.3 On-Board

11 Marine Engine Monitoring System Market, By End User
11.1 Introduction
11.2 Original Equipment Manufacturer (OEM)
11.3 Aftermarket

12 Regional Analysis
12.1 Introduction
12.2 Asia Pacific
12.2.1 China
12.2.2 South Korea
12.2.3 Japan
12.2.4 Philippines
12.2.5 Vietnam
12.2.6 India
12.3 Europe
12.3.1 Germany
12.3.2 France
12.3.3 Turkey
12.3.4 Italy
12.3.5 Norway
12.3.6 Russia
12.3.7 UK
12.4 North America
12.4.1 US
12.4.2 Canada
12.5 Rest of the World
12.5.1 Latin America
12.5.2 Middle East and Africa

13 Competitive Landscape
13.2 Rank Analysis of Key Players in the Marine Engine Monitoring System Market
13.3.1 Contracts
13.3.3 Agreements, Expansions, Joint Ventures, Acquisitions, and Partnerships

14 Company Profiles
14.1 ABB
14.2 AST Group
14.3 CMR Group
14.4 Caterpillar
14.5 Cummins
14.6 Emerson Electric
14.7 Hyundai Heavy Industries
14.8 Jason Marine Group
14.9 Kistler Group
14.10 Kongsberg Gruppen
14.11 Man Diesel & Turbo
14.12 Mitsubishi Heavy Industries
14.13 Noris Group
14.14 Rolls-Royce
14.15 Wartsila

For more information about this report visit https://www.researchandmarkets.com/research/l5g3dv/500_million?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets