Marine Diesel Engine Market to Witness a Sustainable Growth over 2026
Category: #business  By Ronak Bora  Date: 2021-08-13
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Marine Diesel Engine Market to Witness a Sustainable Growth over 2026

Canada marine diesel engine market is anticipated to record a CAGR of over 3% through 2026. This is attributed largely to the increasing investments towards enhancements in product designs and technologies, amid strong efforts to develop cleaner alternatives with low emissions in the region. Industry dynamics will be further stimulated by the entry of new players in the business landscape.

The drastic impact of the COVID-19 pandemic is being felt across various factions of the global economy, including the marine industry and its distribution channels. In this situation, market players are facing myriad challenges such as shortages, and are having to restart their operations on considerably scaled down capacities, which could be problematic for the marine diesel engine market outlook.

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Global marine diesel engine market share is slated to witness significant growth over the forecast spell. given the surge in seaborne trade activities across the globe. Nearly 80% of all international trade in terms of volume is transported by the sea route. International trade activities are boosted largely owing to the surging populations worldwide, as well as rapid developments in emerging countries, which is in turn, expected to augment the industry outlook in the years ahead.

The intensifying focus on sustainability, through fuel consumption reductions, better efficiency and more cost-effectiveness is triggering demand for technologically advanced diesel engines for ships. For instance, according to new rules published by the International Maritime Organization (IMO), the use of ULSD (ultra-low sulfur diesel fuel) will be required in all ocean-going vehicles, both existing and new, in an effort to mitigate particulate emissions. Such mandates and policies geared towards more efficient and environmentally sound technologies will add impetus to marine diesel engine market trends over the estimated timeline.

Escalating need for sustainable technologies, alongside a rapid rise in retrofitting activities will also contribute heavily to marine diesel engine market expansion. For instance, in 2019, the Bremerhaven ferry in Germany underwent  a retrofitting process wherein the ferry’s old engines were replaced with two novel MTU Series 4000 marine propulsion systems, designed to be fueled synthetically and remain compliant with the increasingly strict policies implemented by local authorities

The global marine diesel engine market share is bolstered significantly by the presence of strong players such as Wärtsilä, GE Transportation Cummins, Caterpillar, Volvo Penta, Rolls Royce, John Deere, Dresser-Rand Group, Brunswick Corporation, and Man Energy Solutions, among others.

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Partial Chapter of the Table of Content

Chapter 4      Marine Diesel Engine Market, By Technology

4.1      Market share by technology, 2019 & 2026

4.2      Low speed

4.2.1    Global market from low speed, 2015 - 2026

4.2.2    Global market from low speed, by region, 2015 – 2026

4.3      Medium speed

4.3.1    Global market from medium speed, 2015 - 2026

4.3.2    Global market from medium speed, by region, 2015 – 2026

4.4      High speed

4.4.1    Global market from high speed, 2015 - 2026

4.4.2    Global market from high speed, by region, 2015 – 2026

Charts & Figures

FIG. 1    Marine diesel engine market segmentation

FIG. 2    Industry ecosystem analysis

FIG. 1    Top 10 countries impacted by COVID- 19, number of cases

FIG. 2    Optimistic view on COVID- 19 effect, 2015 – 2026 (USD Million)

FIG. 3    Realistic view on COVID- 19 effect, 2015 – 2026 (USD Million)

FIG. 4    Pessimistic view on COVID- 19 effect, 2015 – 2026 (USD Million)

FIG. 5    Market share of new orders by major countries, 2016 (%)

FIG. 6    Market share new building deliveries by country, 2018

FIG. 7    Increase in seaborne trade (% of volume)

FIG. 8    World Seaborne trade by country grouping, 2017 (% share of world tonnage)

FIG. 9    Regional cruise ships deployment, 2019 (% of available lower berth day)

FIG. 10    Growth potential analysis

FIG. 11    Porter’s analysis

FIG. 12    PESTEL Analysis

FIG. 13    Market revenue share by technology, 2019 & 2026

FIG. 14    Marine diesel engine liquid market revenue share by application, 2019 & 2026

FIG. 15    Marine diesel engine market revenue share by region, 2019 & 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/marine-diesel-engine-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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