Marine Diesel Engine Market Size, Key Players, SWOT, Revenue Growth Analysis, 2030

 

Marine Diesel Engine Market Overview

Marine Diesel Engine Market is projected to be worth USD 16.25 billion, registering a CAGR of 4.70% during the forecast period (2022 - 2030), The market was valued at USD 6.10 billion in 2020.

A greater emphasis has been placed on managing energy-efficient Marine Diesel Engines, which will have a rapid impact on the market. In ships, marine diesel engines transfer a large amount of heat energy from the fuel into mechanical energy, which is quite beneficial. Modern marine diesel engines have a power range of 40 to 416 kW (54 to 558 hp) and are found in major cargo ships, most cruise ships and ferries, national military and government boats, the industrial and small-scale fishing sector, modern auxiliary ships, landing craft, modern patrol boats, and several search-and-rescue vessels. These Marine Diesel Engines have mostly become a basic requirement in today's ships. Many variables are assisting the market's spread.

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Report Attribute/Metric	Details
CAGR	4.70% CAGR (2022-2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2019 & 2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type ,Speed ,Stroke, Application
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Market Segmentation

·         Based on the Type Service, the market has been segmented as Auxiliary and Propulsion.

·         Based on the  Speed Service, the market has been segmented as Low-Speed, Medium-Speed, and High-Speed.

·         Based on the Stroke Service, the market has been segmented as 2-Stroke and 4-Stroke.

·         Based on the Application, the market has been segmented as Modern Cargo Ship, Latest Cruise Ship, and Others.

·         Based on the Geographic segmentation, the market has been classified as North America, Europe, Asia-Pacific, South America, and Middle & East Africa.

Industry News

Cox Marine, STX Engine, Deere & Company, Cummins Inc., AGCO Power Inc., Yanmar Co Ltd., Honda Motor Co., Ltd., Japan Engine Corporation, Hyundai Heavy Industries Co., Ltd., Caterpillar, Greaves Cotton Limited, China Shipbuilding Industry Group Diesel Engine Co., Ltd., and Kirloskar Oil Engines Ltd. are the major key players of the marine diesel engine market. The market is expanding because of government assistance and client enthusiasm. The growth is mostly attributed to small and medium-sized businesses or firms that require fewer effort arrangements.

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