NEW YORK, Jan. 4, 2016 /PRNewswire/ -- The marine engines market is expected to reach a value of USD 11 billion by 2020, at a CAGR of 4.0% from 2015 to 2020. Currently, gradual growth in the shipbuilding industry and stringent environmental regulations to replace existing marines with energy efficient ones are driving the marine engines market worldwide.
"Inland waterways: The fastest growing application of marine engines"
Inland waterways are gaining popularity and heavy investments in both developed and developing countries as it is the cheapest and comparatively a faster mode of transport for goods and passengers. In addition to these advantages, increase in trade, offshore wind farms, and port construction activities have fuelled the growth of this application.
"Asia-Pacific dominates the global marine engines market"
Asia-Pacific dominates the global marine engines market due to the presence of major shipbuilding countries such as China, Japan, and South Korea. These countries are investing heavily in R&D to make energy efficient marine engines to replace the existing engines with new ones.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows
- By Company Type: Tier 1- 25%, Tier2-25%, and Tier 3-50%
- By Designation: C-Level-25%, Director Level-37%, and Others*-38%
- By Region: Americas-30%, EMEA-37%, Asia-Pacific-38%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
Leading players of this industry have been profiled with their recent developments and other strategic activities. These include Caterpillar Inc. (U.S.), GM Powertrain (Italy), Rolls Royce (U.K.), Wartsila Corporation (Finland), and Mercury Marine (U.S.) among others.
Why buy this report?
1. The report identifies and addresses key markets for marine engines, which is useful for shipbuilding companies and OEMs to review production and distribution plans.
2. The report includes analysis for key applications by vessel type of marine engines. It analyzes historical trends and also forecast for 2020, assisting in strategic decision making.
3. It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from the key global market players. It helps understand the competition strategies and plan respective initiatives.
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