Europe Marine Gensets Market Size, Share and Growth 2020-2025 | Industry Insights and Forecast
Category: #energy-and-environment  By Ronak Bora  Date: 2021-05-28
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Europe Marine Gensets Market Size, Share and Growth 2020-2025 | Industry Insights and Forecast

The Europe marine gensets market size is forecast to grow substantially by 2025. Europe marine gensets industry outlook is expected to remain robust on the heels of expanding seaborne trade and infusion of funds in the shipbuilding process. With the demand for auxiliary power in the marine industry soaring, gensets are likely to remain at the helm in the U.K., Germany, Italy, France and Spain.

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A gradual surge in the global long voyage and a pressing demand from the recreational and commercial sectors will propel the market presence of gensets in the region.

Some of the pressing trends which are likely to be witnessed in the next few years or so are highlighted below:

LNG gensets to be highly sought-after

Heightened environmental awareness has accentuated the industry uptake of LNG gensets. So much so that flourishing exploration activities and notable growth of green gas reserves have augured well for the business outlook.

More importantly, the introduction of MEPC of 0.5% limit of sulfur content across the world that came into effect from January 1st, 2020 has mustered up the confidence of stakeholders.

Hybrid gensets are also expected to be highly sought-after in the light of increasing environmental awareness among stakeholders, including institutions and individuals. Some of the current R&D activities emphasizing efficiency and engine modification will bolster the popularity of hybrid gensets.

Recreational gensets to remain in the mix

Considering the trend for private recreational vessels and cruises, demand for recreational gensets will become more rampant. Essentially, the rising cases of vessel customization and more focus on boosting products and services have been in line with the upsurge in discretionary income.

With the traction for seaborne trade gaining ground globally, commercial viability of gensets is likely to remain pronounced. Simply put, an impressive demand for retrofitting existing vessels and burgeoning industrialization will remain instrumental in boosting the presence of commercial gensets.

<1000 kW marine gensets to see further demand

A compelling demand from the commercial and recreational vessels for powerful generator sets is projected to further the production of <1000 kW gensets. Some of the industry dynamic such as increasing living standards and the urgency for alternate fuels will potentially dictate the growth of <1000 kW marine gensets.

Leading companies are likely to boost their strategies and focus on brand recognition, innovation and marketing initiatives. With the rise in energy consumption, key industry players will potentially spur their investments in <1000 kW gensets.

U.K. and Germany to provide lucrative growth opportunity

Leading companies are likely to vie to expand their portfolios in the U.K. as the country is witnessing a notable trend for commercial and recreational gensets. The U.K. is observing an influx of funds towards technology expansion and service industry. Prominently, soaring demand for auxiliary power in the marine sector and revival of secondary sector will potentially exemplify the value proposition of the Europe marine gensets market.

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Germany is expected to provide lucrative growth opportunities to leading companies vying to bolster their revenue stream. For instance, a staggering increase in retrofitting activities and investment in research and development will streamline the installation of eco-friendly and sustainable technologies on vessels.

Both U.K. and Germany have been witnessing collaboration among domestic equipment manufacturers and shipyards across the region.

Table of Contents (ToC) of the report:

Chapter 1.  Methodology and Scope

1.1. Methodology

1.2. Marine Gensets Market definitions

1.3. Market estimates and forecast parameters

1.4. Data Sources

1.4.1.  Secondary

1.4.1.1.      Paid Sources

1.4.1.2.      Public Sources

1.5. Abbreviations

Chapter 2.  Executive Summary

2.1. Europe Marine Gensets Market snapshot

Chapter 3.  Europe Marine Gensets Market Insights

3.1. Industry coverage

3.2. Industry size & forecast, 2014-2025

3.3. Value chain analysis

3.3.1. Company product snapshot

3.4. Regulatory norms & directives

3.5. Innovation & sustainability

3.6. Drivers & restraints

3.6.1. Market drivers

3.6.2.  Market restraints

3.7. Product growth mapping

3.8. Industry analysis - Porter's

3.9. Competitive benchmarking, 2018

3.10.          PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1396/europe-marine-gensets-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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