Marine Engines Market Analysis by Product Description,
Types and Application, Growth Factors 2018-2021
The report "Marine Engines Market by Power’000 HP (up to 1HP, 1-5HP, 5-10HP, 10-20HP
& Above 20HP), Vessel Type (Commercial & Offshore Support Vessels), Fuel (Heavy Fuel,
Intermediate Fuel, Marine Diesel & Marine Gas Oil), & Region - Global forecast to 2021",
The global marine engines market is expected to grow from an estimated USD 11.14 Billion in
2016 to USD 13.53 Billion 2021 at a CAGR of 3.85%. Growth in the marine engines market will be
majorly driven by rise in the ship-building industry as well as increased maritime trade and
stringent emission norms.
Browse 75 market data tables and 49 figures spread through 165 pages and in-depth TOC
on “Marine Engines Market by Power’000 HP (up to 1HP, 1-5HP, 5-10HP, 10-20HP & Above
20HP), Vessel Type (Commercial & Offshore Support Vessels), Fuel (Heavy Fuel,
Intermediate Fuel, Marine Diesel & Marine Gas Oil), & Region - Global forecast to 2021”
https://www.marketsandmarkets.com/Market-Reports/marine-engine-market-261640121.html
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Asia-Pacific will dominate the marine engines market
Asia-Pacific will remain the largest market for marine engines for the projected period 2016 to
2021. The growth will be mainly driven by rise in the ship-building industry in China as well as
Japan and South Korea. China, Japan, and South Korea constituted more than 80% of ship -
building activity in 2015, and more investments, particularly in China, for the ship-building
industry. Another factor attributing to the growth will be rise in maritime trade in South -east Asia
spearheaded by China and other emerging economies in the region such as Indonesia.
Commercial vessels will continue to remain the largest market for marine engines by vessel
type
Commercial vessels, as a consequence of increased ship-building orders for gas carriers and bulk
carriers, will continue have the largest market share for marine engines by vessel type, largely
driven by rising economic growth in South Asia and South-east Asia. There will also be an
increased demand for pleasure vessels in Europe and North America especially in yachts and
luxury cruises.